Title

Application of the Dreyfus Model of Skill Acquisition to Financial Planning

Document Type

Article

Publication/Presentation Date

11-2012

Academic Year

2012-2013

Abstract/Description

The notion that work experience alone contributes to expertise is commonly accepted but not well justified. The Dreyfus Model of Skill Acquisition is used in a variety of disciplines to provide a benchmark and assessment guide to skill development and competency. As individuals progress through these stages, they rely less on rigidly following prescribed rules, better comprehend the context of their work, and take increasing ownership of the outcomes. We describe the Dreyfus model and provide examples of what a financial planner might look like at each stage of the model. We also provide suggestions that may help a planner progress through the stages.

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