I have received some feedback that said that behavioral economics and process mapping did not have a link that impacted on the low and lower middle income members of the community and their efforts to grow assets nor maintain asset levels in retirement years.
This feedback concerned the issue whether their existed a need to integrate lifestyle planning with financial planning. The argument was that the two are two separate issues as lifestyle planning was about values and what clients thought were important in their lives and what they hoped to achieve, particularly in retirement and financial planning was about funding. However, this appears to ignore the fact that people engaged at an operational level and those that work with them are busily discussing how they can better help those low and lower moderate income members of society by managing investment risk better.
This situation has arisen because policy makers have failed to see the link between behavioral economics and process mapping and the need for an innovation forum. In short, congratulations CFED! The paradigm shift has started.