Renditeziele

The search results indicate that the formalization of financial planning, including defining investment objectives, gained traction in the late 1960s and early 1970s with the establishment of the College for Financial Planning and the CFP designation. This provides a good historical context.¹⁰, ¹¹

Let's try to find something related to limitations or academic critiques.

Search 2: Academic critique on setting rigid targets, behavioral biases
I'm looking for a reliable source that discusses the challenges or criticisms associated with setting rigid return targets, or how behavioral finance might influence them.

Based on the initial search results:

• External Link 1 (History): The origins of financial planning and the formalization of setting investment objectives.
  • Potential URL: The eMoney Advisor article provides a good historical overview: An Abbreviated History of Financial Planning: Where We Go From Here⁹
  • Or this one: Financial Planning: History, Steps & Benefits - 49th Parallel Wealth Management⁸
    I'll go with the eMoney Advisor one as it directly cites dates and people.

Let's find more diverse external links now.
Search 3: Behavioral finance and return expectations
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