TITLE:
Mapping the Emotional Landscape of Financial Planning: Identifying Patterns for More Effective Client Relationships
AUTHORS:
Ben Neilson, Michelle Lobartolo
KEYWORDS:
Financial Planning, Behavioral Finance, Experimental Research
JOURNAL NAME:
Open Journal of Business and Management,
Vol.14 No.1,
December
16,
2025
ABSTRACT: While financial planning has historically been conceptualised as a technical process, emerging research highlights the critical role of client emotions in shaping advice outcomes and adviser-client relationships. Despite this, limited investigation has systematically examined which emotions recur throughout the planning process and how they influence the success of engagement. This paper addresses this gap by analysing 1236 client interactions collected over a four-year period within a defined scope of financial planning practice in Australia, with the aim of identifying recurring emotions and constructing a hierarchy of emotional states. Drawing on behavioural finance, psychological frameworks, and qualitative insights, the study develops a conceptual framework linking emotional patterns to trust formation, decision quality, and long-term adherence to financial strategies. Findings reveal that emotions such as anxiety, relief, confusion, and confidence consistently emerge at critical stages of the advice process and act as pivotal points that can either hinder or enhance relationship quality and financial outcomes. By mapping these emotions hierarchically, the research demonstrates how effective management of negative emotions can transform them into positive experiences, strengthening client engagement and optimising outcomes. Integrating these insights into professional practice allows advisers to anticipate emotional responses, apply targeted communication strategies, and enhance both the client experience and the durability of financial planning relationships, offering a novel, emotionally informed framework for navigating the financial planning process.