Financial Advisor | Market Outlook
February 7, 2025

This article by Assistant Professor of Financial Planning Audrey Snell, MBA, CFP®, RICP®, ChFC®, addresses 2025’s uncertain market outlook and its causes.

InvestmentNews | Financial Advisors React to the Idea of “Parent Money”
February 10, 2025

In this article about how younger generations benefit from their parents’ wealth to live beyond their means, Professor of Practice Steve Parrish, JD, RICP®, CLU®, ChFC®, AEP®, addresses the potential issue of longer life expectancy.

ThinkAdvisor | American College Announces Inaugural Retirement Conference
February 10, 2025

This article spotlights Horizons 2025, The College’s upcoming inaugural retirement planning event, including a summary of notable speakers and discussion topics.

401kSpecialist | Retirement Events: Two National Shows Go Dark, But Horizons 2025 Emerges
February 11, 2025

This article speaks on the end of two popular retirement planning events and notes Horizons 2025 as one to watch, highlighting the thought leaders and industry experts slated to speak as well as the information-rich agenda.

MSN | These Hot Annuities Blend Stocks and Bonds. They Could Limit Your Upside.
February 14, 2025

In this article about annuities, Professor of Practice Steve Parrish, JD, RICP®, CLU®, ChFC®, AEP®, advises investors to be wary of the risks involved with registered index-linked annuities (RILAs).

Black History Month is a time for all of us to remember, recognize, and honor the Black and African American heroes of the past, as well as those making history in our own era. Designated by Congress in 1976, like other months that follow — such as Women’s History Month in March (designated in 1987) and National Military Appreciation Month in May (designated in 1999) — Black History Month is when we pause to acknowledge and highlight the difference-makers who represent the best of the American spirit and values. Their contributions are an integral part of the fabric of both the nation and the financial services profession.

Black history is America’s history. Slavery was a chapter in our story. Later, the separate-but-equal treatment of Blacks in the Jim Crow era was a chapter. These pivotal points in our country’s history taught important lessons about the deep pain and societal damage that can occur when citizens are not able to participate fully in the American dream of life, liberty, and the pursuit of happiness. It’s important that we reflect on those two chapters in American history; as the saying goes, people who don’t know history are doomed to repeat it.

Black history is America’s history. There are also wonderful moments of American history, including many more chapters in which Black Americans played a prominent role in the advancement and betterment of all society. We want to remember those milestones and allow ourselves to be inspired by them.

Within financial services, we honor the memories of Black pioneers in our profession, including:

• Maggie Lena Walker, who became the first woman to own a bank in the United States when she founded the St. Luke Penny Savings Bank in 1903
• O.W. Gurley, who founded Black Wall Street upon purchasing 40 acres in Tulsa, Oklahoma in 1906
• Alonzo Herndon, who founded the Atlanta Life Insurance Company in 1922
• Arthur George Gaston, who founded the Booker T. Washington Insurance Co. in 1923
• Ernesta Procope, who founded private insurance company E.G. Bowman in Brooklyn in 1953, which later moved to become the first Black-owned business on Wall Street
• LeCount Davis, CFP®, who is the first Black person to earn the CERTIFIED FINANCIAL PLANNER™ certification, having become a CFP® professional in 1978
• Clifton Wharton, Jr., who is former chairman of the Rockefeller Foundation and former chair and CEO of TIAA-CREF, where he started in 1987
• And the list goes on…

I hope you will read and share these stories. It is my honor to stand on the shoulders of these giants. I had the honor and privilege of being elected the first Black president of the National Association of Insurance Commissioners (NAIC) in 2000, and have served as the first Black president of The American College of Financial Services since 2018. When I reflect on these “firsts,” I’m reminded of my favorite song from the musical Hamilton: “And even now I lie awake, knowing history has its eyes on me.”

Black history is America’s history. So perhaps this year, we can ask ourselves what role we will play in the history (and future) of financial services. There’s not a day that goes by that I don’t feel the support of this community of financial professionals who love their life’s work and love The College. Everyone who shares in the noble purpose of our profession should feel a sense of belonging.

“We honor the memories of Black pioneers of our profession… I hope you will read and share their stories.”

It is my pleasure to lock arms with you on our journey to benefit society through applied financial knowledge. Whatever your background, whatever your race, whatever your specialization within this noble profession, know this: We are together in a transformational period in College history—and you can make a difference.

Here are some of the ways The College honors the legacy of Black pioneers and empowers today’s financial professionals through our strategic focus on representation:

We educate sponsors and fellows in a one-of-a-kind shared learning experience through the Black Executive Leadership Program
We expand opportunities for professional connections at our annual event coming up in August in Atlanta, the Conference of African American Financial Professionals (CAAFP)
We reach students at Historically Black Colleges and Universities with our consumer educational program called Know Yourself, Grow Your Wealth®

I encourage you to learn more about what we’re doing and make your own connections with our Center for Economic Empowerment and Equality.

Whatever Black History Month means to you, I hope you feel proud to represent the financial services profession and are hopeful to see the financial services profession better represent all of us. I believe every one of us, from every background and identity, can be part of American history and part of the future of financial services.

Black history is America’s history. This month, we honor the many successes and achievements of the Black and African American community. Together, we have made — and continue to make — incredible progress. And even as we recognize the accomplishments of the past, we also look to the future.

As a closing thought, I’ll quote the Hamilton song once more… “I know that greatness lies in you. But remember from here on in, history has its eyes on you.”

“I hope you feel proud to represent the financial services profession and hopeful to see the financial services profession better represent all of us.”

KING OF PRUSSIA, PA – February 19, 2025 - The 2024 Designation Outcomes Study, developed and executed by FUSE Research Network, reveals powerful insights into how these credentials drive greater productivity, growth, and client satisfaction.

This study shows that financial professionals who earn designations from The College experience marked improvements in client retention, earnings, and business growth compared to their peers without any designations.

“The data clearly shows the undeniable value of continuous learning in our industry,” said President and CEO George Nichols III, CAP®. “Our designations equip financial professionals with applied knowledge, making them better able to serve their clients and drive success. This study demonstrates that when financial professionals invest in their education, they experience real, measurable outcomes that positively impact their businesses and their clients' futures. As the profession is ever evolving, it is paramount for financial advisors to remain vigilant and relevant through lifelong learning.”

Compared to financial professionals with no designations, College designees report better outcomes, including:

• Client Retention: College designees report 35% higher growth in client retention over the past three years than financial professionals with no designations.
• Client Referrals: College designees experience 16% higher growth in client referrals over the past three years compared to financial professionals without designations.
• Earnings: Designations contribute to 13% higher growth in earnings for College designees compared to non-designees over the past three years.

Notably, those who earn multiple designations see even stronger results across the board, such as increases in their earnings and their assets under management:

• Overall Earnings: Financial professionals with multiple designations report 19% higher growth in earnings compared to those with no designations.
• Assets Under Management (AUM): Financial professionals with multiple designations from The College report 12% higher growth in AUM compared to those with single designations.

This study also highlights the importance of specialization, illuminating how designations like the Retirement Income Certified Professional® (RICP®), Chartered Advisor in Philanthropy® (CAP®), and Chartered Special Needs Consultant® (ChSNC®) have a unique impact on financial professionals’ ability to address specific client needs, such as retirement income planning, charitable giving strategies, and planning for families with special needs.

“The College is dedicated to providing rigorous, evidence-based education that enables professionals to deliver exceptional service right away,” said Chia Li Chien, PhD, CFP®, PMP®, CPBC, associate provost for undergraduate and graduate programs at The American College of Financial Services. “Our programs are designed not only to help advisors succeed in their careers but to continuously evolve with the industry's needs, ensuring that they remain equipped to meet the challenges of today and tomorrow.”

This study also highlights significant improvements in client satisfaction and advisor-client relationships. Key outcomes include:

• Client Satisfaction: 65% of designees report significant or moderate improvement in client satisfaction since earning their designation.
• Client Conversations: 74% of designees report significant or moderate improvement in their client conversations.
• Ability to Help Clients With More Goals: 70% of designees report significant or moderate improvement in their ability to help clients achieve a greater number of financial goals.

The College is launching a new microsite that presents the study's findings in a clear and actionable way for financial professionals and organizations interested in learning about the benefits of foundational and specialized designations. The College has also begun the research and discovery phase of an awareness campaign designed to increase the public’s understanding of designations, so they may connect with highly credentialed professionals who focus on various areas of applied financial knowledge.

For more information about the 2024 Designation Outcomes Study, visit our webpage or contact:

Sarah Tremallo
908-967-0381 / Stremallo@jconnelly.com

Jared Trexler
610-526-1268 / jared.trexler@theamericancollege.edu

ABOUT THE AMERICAN COLLEGE OF FINANCIAL SERVICES

Founded in 1927, The American College of Financial Services is the nation’s largest nonprofit educational institution devoted to financial services professionals. Holding the highest level of academic accreditation, The College has educated over 200,000 professionals across the United States through certificate, designation, and graduate degree programs. Its portfolio of applied knowledge also includes just-in-time learning and consumer financial education programs. The College’s faculty represents some of the foremost thought leaders in the financial services industry. Visit TheAmericanCollege.edu and connect with us on LinkedIn, X, Instagram, Facebook, and YouTube. Discover all the ways you can expand your opportunities with us.

In this role, Bonime-Blanc will collaborate with the Center to develop programming and strategic initiatives focused on AI ethics in financial services. As artificial intelligence continues to shape the industry, ensuring that AI-driven decisions align with ethical principles and trust remains a priority. Through this fellowship, the Center aims to provide thought leadership, practical guidance, and industry-wide discussions on the responsible use of AI.

Bonime-Blanc is the Founder and CEO of GEC Risk Advisory and has served as an advisor to companies, governments, and organizations worldwide on ethics, risk, governance, and AI strategy. A widely published author and thought leader, Bonime-Blanc’s recent article, "5 Guiding Principles for Trustworthy Tech Leadership in 2025 and Beyond," offers a timely perspective on the ethical challenges and responsibilities of technology leaders. She outlines five key principles—ethical foresight, risk intelligence, responsible innovation, adaptive resilience, and stakeholder trust—as critical foundations for ensuring that emerging technologies, including AI, serve society in a trustworthy and sustainable way.

As Bonime-Blanc joins the Center, we look forward to building on these insights to help financial services professionals navigate the ethical complexities of AI. Stay tuned for upcoming programs and discussions that will shape the future of responsible AI in the industry. 

More from The College

• Read Bonime-Blanc’s full article here to explore how these guiding principles can help shape the future of ethical AI leadership.
• Stay informed about our latest AI research and initiatives—follow us on LinkedIn for updates and insights. 

In this episode of our Shares podcast, Professor of Practice Steve Parrish, JD, RICP®, CLU®, ChFC®, AEP® welcomes Jason Fichtner, PhD, an expert on Social Security and retirement policy, for a conversation on the current status and future of the popular and cornerstone benefit program. They cover the impact of the latest regulatory updates on Social Security, what may happen to benefits in the future, and how financial professionals can work with their clients to secure their retirement planning.

Jason Fichtner, PhD is Senior Fellow at the Bipartisan Policy Center. His areas of expertise focus on Social Security, federal tax policy, federal budget policy, retirement security, and policy proposals to increase saving and investment. He is also Executive Director of the Retirement Income Institute, Alliance for Lifetime Income. Fichtner has significant government experience, having served in several positions at the Social Security Administration, including as Deputy Commissioner of Social Security (acting), Chief Economist, and Associate Commissioner for Retirement Policy. He also served as a senior economist with the Joint Economic Committee of the US Congress and as an economist with the Internal Revenue Service. He has held teaching positions at Johns Hopkins University – School of Advanced International Studies (SAIS), Georgetown University, and Virginia Tech. His work has been featured in the Washington Post, the Wall Street Journal, the New York Times, Investor’s Business Daily, the Los Angeles Times, the Atlantic, and USA Today, as well as on broadcasts by C-SPAN, PBS, NBC, NPR, and SiriusXM.

Any views or opinions expressed in this podcast are the hosts’ and guests' own and do not necessarily represent those of The American College of Financial Services.

More From The College

• Learn more about our Retirement Income Certified Professional® (RICP®) Program
• Register for our upcoming Knowledge Hub+ webcast on Social Security planning