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Financial Services Review Masthead (2025) Volume 3, Issue 4 Special Issue: The Pedagogy of Financial Planning
No full textAssessing the Impact of Rebalancing on Equal-weighted and Value-weighted Portfolios over Five Decades
No full textThis study investigates the impact of transaction costs on the performance differential between equal-weighted portfolios (EWPs) and value-weighted portfolios (VWPs). Employing a comprehensive dataset of 181 stocks from 1970 to 2023, we utilize paired two-sample tests to identify statistically significant differences in turnover and risk-adjusted returns. Our findings reveal a substantial performance advantage for EWPs, with annualized return surpluses ranging from 115 to 188 basis points over VWPs, depending on the assumed transaction cost level. Notably, this outperformance persists until transaction costs reach a critical threshold of 728 basis points of portfolio turnover. The analysis further demonstrates that EWPs outperform VWPs in 94.5% of scenarios devoid of transaction costs, declining to 84% when incorporating realistic cost assumptions. These results highlight the potential of EWPs to exploit diversification benefits but also emphasize the crucial role of transaction costs in moderating their outperformance
Effective Financial Education Strategies: Empowering Students with Personal Application
No full textFinancial education is most effective when it is both personalized and applicable to learners’ lives. Instruction that reflects individual backgrounds, interests, and learning styles fosters engagement, ownership, and improved outcomes. When financial concepts are taught in real-world contexts, learners are more likely to recognize their relevance and apply them meaningfully. This paper integrates five established learning theories: Bloom’s Taxonomy, behaviorism, constructivism, experiential learning, and social learning theory. These frameworks support differentiated instruction in financial education and inform the design of inclusive, learner-centered pedagogy. The study’s primary contribution is its application of these theories to specific financial topics, including investment planning, retirement strategies, financial counseling, and estate planning. Assignments and instructional tools provided in the appendix illustrate how theory-informed strategies can be implemented in practice. These classroom-tested activities promote financial literacy, support behavioral change, and enhance instructional effectiveness across diverse learner populations. By bridging theoretical models with applied learning experiences, the paper offers educators a practical framework for improving financial education
Elevating Professional Skills Through Authentic, Scaffolded Learning in a Financial Planning Capstone
No full textThis paper presents an evidence-based redesign of a financial planning capstone unit in an accredited Australian financial planning degree. Five innovations were introduced to strengthen students’ professional capability development: (1) an authentic, dynamic client case; (2) a practitioner-led workshop on client engagement; (3) layered scaffolding to support digital literacy and professional communication skills; (4) a redesigned assessment structure featuring role-based expert pitches evaluated by industry judges; and (5) structured teamwork supports to develop collaborative capability. The impact of the redesign was evaluated by triangulating student performance, student evaluations, thematic analysis of reflective accounts, and an independent expert peer review. Findings demonstrate improved communication, teamwork, and perceived job readiness, alongside stronger alignment between assessment tasks and real-world financial planning practice
Immersive Learning and Community Mapping: The Case of the Whitely Neighborhood in Muncie, Indiana
No full textThis article discusses the preliminary results of a semester-long partnership between an undergraduate course and a local Black community to map culture and history of the neighborhood. Students of Ball State University and residents of the Whitely community in Muncie, Indiana, worked together in spring 2022 to collect data and produce maps that the community could use for its activities. Within a framework of immersive learning and high-impact practices, this article points out challenges and achievements of this collaboration, based on the observations of the students and community members, who are also coauthors of this publication. Strengths and weaknesses in the mapping process are identified and suggestions are made to improve the project and guarantee its continuity
Elevating Community Voices to Reexamine Student Cultural Sensitivity and Adaptability in Electronic Service-Learning (e-SL)
No full textThis study investigates how communities perceive students’ cultural sensitivity and adaptability in electronic service-learning (e-SL) programs, focusing on Ateneo de Manila University in the Philippines. Employing qualitative methodology that incorporates online in-depth interviews and surveys, the research fills a gap by concentrating on community perspectives and not solely on student experiences. Although communities regard Ateneo students as culturally sensitive, the study uncovers complex factors shaping these perceptions. These factors include the dual role of Ateneo’s institutional reputation, the effectiveness of digital platforms balanced against the irreplaceable value of face-to-face interactions, and the importance of nuanced communication skills. These findings offer actionable insights for educators, administrators, and community coordinators, urging them to consider cultural and technological factors deeply when implementing e-SL programs. The study is timely due to the increasing digital transformation in educational settings and holds implications for refining and enhancing e-SL practices
Building Faculty Capacity: Initial Impact of a Service-Learning Faculty Learning Community Model
No full textFaculty Learning Communities (FLCs) offer a collaborative and structured environment for professional development, enabling educators to build their capacity to incorporate service-learning into their teaching practices. This study examines the initial impact of a FLC for institutional awareness and implementation of service-learning at Slippery Rock University. The FLCs allowed scholars to gain theoretical and hands-on experience in service-learning pedagogy. This article outlines a FLC model based on a conceptual framework of six course attributes to promote structure, clarity, and inquiry. Through intentional structural revisions, the FLCs evolved to more effectively provide a space where faculty could integrate service-learning into their courses. Participants increased both their self-reported awareness of the six attributes and confidence in their ability to implement the attributes in their teaching practices. Further research is needed as the FLC model is adjusted; however, the results indicate a positive impact on faculty development and support institutional change
Navigating Changing Maps for Public Engagement in Higher Education Contexts
No full textPublic engagement is becoming a critical element of U.S. universities’ missions. Defining public engagement has become increasingly complex, however, and navigating the significant and diverse literature on public engagement can be daunting. This essay addresses this challenge as well as two others that make public engagement difficult for those feeling called (or pressured) to perform such work. We draw on our own public engagement experience and research to (1) conceptually scope out the terrain of public engagement literature and approaches, (2) articulate how the emerging problems of rapid intensification and hyperpolarization in American political culture make public engagement work ever more challenging for both faculty and students, and (3) call attention to the ways universities are often not bureaucratically or structurally aligned to meaningfully support and advance public engagement work. We conclude with some recommendations for how faculty, staff, and administrators might navigate these concerns