  This study utilized the 2007-2009 Survey of Consumer Finances (SCF) panel
dataset to examine the impact of financial planner use on household net
financial asset level during the Great recession. Data included 3,862
respondents who completed the SCF survey and a follow up interview. The results
indicated that starting to use a financial planner during the Great Recession
had a positive impact on preserving and increasing the value of households' net
financial assets, while curtailing the use of a financial planner during this
time had a negative impact on preserving the value of households' financial
assets. Thus, study findings indicated that the benefit of using a financial
planner maybe particularly high during a major financial downturn.
