The American College of Financial Services’ Alumni Hall of Fame was established in 2005 to recognize graduates of The College's designation, certification, and degree programs who have made extraordinary contributions in time, treasure, effort, and energy to the institution, their community, and the financial services industry as a whole. The College is proud to announce Jim Petersen as the 2024 inductee.

Jim is the chief executive officer (CEO) and founding principal of Diversified Professional Coaching, LLC. Jim is also the president and owner of the Professional Business Coaches Alliance, LLC, which is committed to training and supporting the future of professional business coaches. In addition, Jim is a serial entrepreneur who is involved in a variety of businesses including a car wash and a bio-hazard cleanup company.

As Roger Hull/James S. Bingay Chair of Leadership at The College, Jim is the program director for the Chartered Leadership Fellow® (CLF®) Program and serves in an emeritus role on the Alumni Council, as well as the outgoing chair of the American College Center for Military and Veterans Affairs’ Advisory Council.

A seasoned financial services executive with more than 41 years of experience in the investment and financial services industries, Jim is an expert in the fields of financial planning, retirement planning, and leading large financial planning organizations.

Founded in December 2019, the Second Century Society recognizes generous benefactors who have made lifetime gifts reaching $1 million or more of philanthropic impact. The College is proud to announce Charles R. (posthumously) and Mary M. Wright as the 2024 inductees.

Charles (Chuck) and Mary Wright met at Yankton College in Yankton, South Dakota. Together, they were leading donors to The College, with an emphasis on the American College Center for Women in Financial Services.

Chuck was senior executive vice president and chief agency and marketing officer at State Farm Insurance Companies. He later served as chairman of the board of trustees and was a driving force behind the creation of the Chartered Advisor in Philanthropy® (CAP®) and Chartered Advisor of Senior Living® (CASL®) designations.

Mary’s years of service through philanthropy led her to complete her CAP® designation, which she would use to help others engage in philanthropic work as well. As a passionate lifelong learner, Mary continues to carry on Chuck’s legacy by laying the foundation for the Wright Fellowship under the Center for Women in Financial Services.

The College is proud to recognize Chuck and Mary’s continued impact.

Conferred by The American College of Financial Services’ President and CEO, the President’s Award recognizes the leadership and generosity of select benefactors and volunteers. The College is proud to announce the 2024 winner: R. David Fritz Jr., CLU®.

David is the co-founder and managing partner of Executive Benefits Network and a 38-year veteran of the financial services industry. He began his career in the insurance industry in 1986 after graduating from Williams College with a BA degree. He started at UNUM Life Insurance Company as a group sales representative in Washington, DC, then later became an employee benefits manager in UNUM’s Milwaukee, WI office. He joined Northwestern Mutual in 1993 and founded Executive Benefits Network 23 years ago. He specializes in the design, funding, securing, and administration of non-qualified deferred compensation plans and bank-owned and corporate-owned life insurance programs.

David and his wife Molly are very active in philanthropic efforts. He is a past trustee of The American College of Financial Services and currently serves on The College’s President Council. He and Molly live in River Hills, Wisconsin with their six children.

In 1975, as The American College of Financial Services approached its 50th anniversary, the Board of Trustees decided to honor those whose role in the development of the institution was of special significance. The Huebner Gold Medal, named for Solomon S. Huebner, is The College’s most prestigious honor and is awarded to people who have moved the institution forward in its mission. The College is proud to announce Sy Sternberg, CLU® as the 2024 honoree.

Sy Sternberg is the former chairman and chief executive officer of New York Life Insurance Company. He joined the company in 1989 as a senior vice president, was elected vice chairman of the board in February 1995, and became president and chief operating officer in October 1995. He became chairman and CEO in 1997 and remained CEO until his retirement in 2008.

Sy is a former chairman of Northeastern University’s board of trustees. He is also a former director of CIT Group and Express Scripts. He currently serves on several non-profit boards including NewYork-Presbyterian Hospital, the Hackley School, the New York Historical Society, Big Brothers Big Sisters of New York City, and the Foundation for City College. He is also a member of the Council on Foreign Relations.

Jayne was a lifelong learner who seemed to have boundless energy when it came to anything in her life, including anything related to The College. The Master of Science in Financial Planning and six designations she earned from The College (in addition to her two bachelor’s degrees and another master’s) were just a few of the many ways she stood out among her contemporaries. Jayne loved The College and was incredibly generous in giving of her time, talent, and treasure to support its growth and impact.

Jayne was a trailblazer. I knew her to be the first to speak up if she had an idea or concern — a woman who would raise her hand without hesitation when we needed her perspective or support. Equally as important, Jayne would raise her hand to ask questions. And even if the answer wasn’t what she wanted, she would listen for the reasoning and support the outcome. But the paradoxical truth is: as bold as she was in advocating for, and serving, The College and the financial services profession, she was modest in acknowledging the major role she played in both. An industry leader and a 2017 inductee into the Alumni Hall of Fame, which recognizes graduates of The College who have made extraordinary contributions to the financial services industry, Jayne didn’t seek out recognition as much as it sought her.

Jayne had a deep respect for the founder and first president of The College, Solomon S. Huebner, PhD; we bonded over a shared appreciation for his legacy and his vision for our great institution. Like Dr. Huebner, Jayne was a first by her own right: she was the first female president of the Alumni Association, now called the Alumni Council, and she was involved in many firsts at The College, including my own story. I credit Jayne and Bud for recruiting me to my role as president and CEO of The College. Were it not for their persistence, their passion, or their persuasiveness, I don’t know if I would have sought the office myself to become the first Black president of The College.

Jayne was the kind of person who could plant an idea or inspire a change in a way that seemed effortless. Just ask my daughters, who may still remember being timid around dogs as children — that is, until Jayne introduced the girls to her pooches. I can’t pinpoint the exact moment it became inevitable that we would welcome a dog into the Nichols family, but I can trace it back to the experience and the confidence my daughters gleaned from being with Jayne.

As a student, Jayne was diligent, meticulous, and conscientious. She was the same way as an agent and agency leader, wanting only the best for her clients; and she was the same way as an alumna, holding The College to the highest standards. 

Jayne was a singular woman and a force of change as an individual. Partnered with Bud, her husband of 53 years (together for 57 years) who is an Alumni Hall of Famer himself, she was unstoppable. As a team, they turned aspirations into impact for The College, and I daresay, for every organization and cause they championed. Personal passions and empathy inspired Jayne’s endeavors. As one example, Jayne was an educator, advocate, and knowledgeable advisor to the special needs community, recognizing the specialized financial planning required to help families navigate their unique challenges. Indeed, she served on the Advisory Board of The American College Center for Special Needs. And there were many other philanthropic and professional causes that benefited from Jayne getting behind them and pushing forward for the greater good.

Yet no cause was more important to Jayne than her family. CJ and I would like to extend our condolences, thoughts, and prayers to Jayne’s beloved husband Bud, her son Matthew E. Schiff, CLU®, ChFC®, WMCP®, who served on the Alumni Board, including as its chair, daughter Kara A. Schiff, and the entire Schiff family. May her memory be a blessing.

I ask our College community, please join me in sharing your sympathies and remembrances on LinkedIn or however you feel appropriate.

According to Scott, financial services wasn’t initially on his career radar: in addition to playing professional sports in both the National Football League and Canadian Football League, he was planning on attending medical school to become a neurosurgeon. However, the realities of trying to chase both these intensive paths were not ideal, and he found a new opportunity with several leadership roles in banking starting in 2013. This, he says, was a game-changer for his life journey.

“My eyes were opened to the science, patterns, and the evidence-based nature of financial and estate planning,” he said, also alluding to the “leap of faith” he took when launching his own financial services firm, Crossroads Capital Partners, in 2018. “It’s been an amazing, challenging, and overall astronomical ride.”

The Lifelong Learning Gameplan

When pursuing further education to power his growth in financial services, Scott says he chose The College and its programs because he wanted to go beyond the basics.

“I equate the CFP® certification and the Chartered Financial Consultant® (ChFC®) designation, both of which I hold, to the basic medical education every doctor gets: it’s important, but the training beyond them is where exponential value, knowledge, and service can be provided,” he said. “To be able to ask someone what financially hurts and then present those findings to talk through action items today to reach their outcomes of tomorrow has brought peace to me and the members of our firm. And it’s only possible with the foundation and education The College provides.”

“To be able to ask someone what financially hurts and then present those findings to talk through action items today to reach their outcomes of tomorrow has brought peace to me and the members of our firm. And it’s only possible with the foundation and education The College provides.”

In addition to recently completing his seventh College program, the Master of Science in Financial Planning (MSFP), Scott also serves as the alumni spokesperson for The College’s Wealth Management Certified Professional® (WMCP®) Program and is a member of The College’s NextGen Advisory Task Force along with the FinServe Network. He says he’s grateful to The College for providing a platform for busy professionals to continue to grow their knowledge and for emphasizing the role of an advisor as a partner in planning rather than a simple purveyor of products.

“For me, wealth enjoyment is everything,” he said. “I think people focus so hard on wealth accumulation; however, when you work with business owners, retirees, and multi-generational families, you realize it’s about can they receive the income desired from their investments and meet their desired legacy goals.”

Keys to Coordinated Legacy Planning

Many of Scott’s professional and educational endeavors have been tied to his love of legacy planning, including wealth transfer after death and impacts on children, grandchildren, and favored charitable causes. He says some key elements of effective legacy planning are bringing all involved parties into planning conversations and ensuring clients have the peace of mind that comes with knowing their current needs will continue to be met.

“If you spend time listening and hearing the wishes and concerns of people, you start to understand they would love to see the impact of their legacy planning with their own eyes,” he said. “It can be scary to talk about gifting or transferring assets, even for those with a net wealth of tens of millions of dollars. People just want to know that they’ll be okay, and our job is to help show them they are.”

“It can be scary to talk about gifting or transferring assets, even for those with a net wealth of tens of millions of dollars. People just want to know that they’ll be okay, and our job is to help show them they are.”

The legacy planning conversation also leads into Scott’s philosophy of “coordinated planning,” which he likens to the training football teams go through to ensure they work together as smoothly as possible.

“It goes beyond the integration of investments, insurance, and planning tools to the establishment of clarity in the eyes of our advisors and clients that their plan must be coordinated and on the same page; otherwise, the likelihood of success is drastically impacted,” he said. “Nothing in a financial plan can be built in a silo, and you need every financial player on your team running the exact same play, at the same time, in the desired way to ensure the best outcome.”

In the end, Scott says he still draws lessons from his days in football, pre-med education, and banking to be the best he can be for his team and his clients.

“I encourage everyone to start with this question: ‘Am I the advisor I would want to work with?’” he said. “You will never attain the practice you desire until you decide to become that yourself, and your answer to that question will tell you everything you need to know about how to create the planning practice of your dreams.”

More from The College

• Meet Our FinServe Network
• Meet the NextGen Advisory Task Force
• Listen to Padric’s Podcast on Coordinated Planning
• Learn About Our CFP® Certification Education Program
• Learn About Our Wealth Management Certified Professional® (WMCP®) Program
• Learn About Our Master of Science in Financial Planning (MSFP) Degree
• Learn About Our Chartered Financial Consultant® (ChFC®) Program
   

Duffy, an associate professor of business planning who also serves as director for the TPCP™ Program, joined FinServe Network ambassadors Terry Parham, Jr., CFP®, ChFC®, CLU®, RICP®, WMCP®, MSFP, Angie Ribuffo, CFP®, RICP®, ChFC®, CDFA®, CLTC®, WMCP® and Drew Gerling, MSFS, CFP®, ChFC®, CLU®, CAP®, FIC, RICP® for the conversation on tax planning. Duffy began by highlighting findings from The College’s 2024 Advisory Services Survey, which stated that out of nearly 400 professionals surveyed, over half used tax planning strategies in their work with clients.

When asked, the ambassadors enthusiastically backed up the results of the survey, testifying they also found themselves using elements of tax planning in their day to day in different capacities.

“Almost any person can benefit from lowering their tax bill, and if you’re not doing tax planning, you’re most likely leaving money on the table,” Parham said. “Clients I talk with every day are usually interested in understanding taxes, but the tax code is so long and complex it’s often daunting for them.”

Gerling agreed with Parham’s assessment. “Tax planning is the one thing all clients seem to share. It’s critical to have that skill set because it’s the foundational element entire plans are built upon,” he said.

Tax Planning Conversations With Clients

Duffy continued by asking the panelists how they bring tax planning into their advisory discussions. The ambassadors agreed that advisors who want to provide tax planning to clients need to look “beyond the hood of the car” and make plans for years down the road, rather than simply addressing the here and now as a CPA or other tax preparer might.

“Clients often feel taxes are an immovable object,” Gerling said. “They’re set in stone and you can’t do anything to change them. This is a misunderstanding we need to break them of by being very direct and modeling the changes that can come with proper tax planning.”

This, as Duffy noted, is what gets many financial professionals hung up: the difference between “tax planning” and “tax advice,” the latter of which is frowned upon by compliance departments and legal regulations. The TPCP™ Program also accents this difference by providing comprehensive, tax-informed planning knowledge to advisors.

“I tell my clients my job is to look into the future; your tax preparer is looking at the now,” Ribuffo said. “Together, we will give you a comprehensive picture, but I’ll be the one looking at year-over-year data and extrapolating information.”

Tax Planning Beyond Individuals

As Duffy and the panel noted, tax planning as part of financial planning goes beyond just individuals and families; it can also play an important role in retirement planning, business planning, and other areas.

“There’s a common misconception you’ll be in a lower tax bracket during retirement because you’re not earning money anymore, but actually the opposite can sometimes be true,” Gerling said. “Clients need to understand the impacts that required minimum distributions (RMDs) and the taxes involved in Social Security, Medicare, and other areas can have on their savings and generational wealth.”

The panel also accented how crucial tax planning is to a sound retirement plan, as well as building or exiting a business through matters such as employment payroll, employee benefits, and business structures.

“There’s a long runway of life after retirement, and we need to help clients land as gently and safely as we can,” Ribuffo said. “You can accumulate as much wealth as you want before you retire, but the one thing that can derail all your hard work if you’re not careful is taxes.”

More From The College

• Meet Our FinServe Network
• Enroll in Our Tax Planning Certified Professional™ (TPCP™) Program
• Learn About Our Retirement Income Certified Professional® (RICP®) Designation
   

With recruitment and retention of advisors being a topic of growing focus in the industry, and with a projected loss of over 37% of advisors in the field today due to age-based attrition, Lewis — managing director of the American College Center for Women in Financial Services — discusses what can be done to ensure this shift isn’t an earthquake for the field.

Specifically, Lewis calls on up-and-coming Gen Z and other young professionals in financial services to fill the gap — and on the industry itself to become a more welcoming place for them to grow, thrive, and succeed via a cultural shift that takes into account their personal priorities.

Read on to hear what Lewis has to say about this trending topic!

Read More

Tuesday, October 29, 2024, from 2:00 p.m. - 3:00 p.m. ET
 

Join Professor of Practice Jeffrey Levine, CFP®, CPA/PFS, ChFC®, RICP®, CWS, AIF, BFA™ to discuss current categories of beneficiaries and the post-death distribution rules that apply to each group, methods beneficiaries can use to minimize taxes on future distributions, how retirement account owners can proactively help reduce the future tax burden on their beneficiaries, and more.

This webcast is only available in Knowledge Hub+. Log into Knowledge Hub+ via your Learning Hub.

What is Knowledge Hub+?

Knowledge Hub+ is a just-in-time learning and CE platform developed by The American College of Financial Services that curates the wisdom of leading academics, change-makers and innovators, financial planning experts, and practice management leaders into one easy-to-use learning experience for financial professionals.
Knowledge Hub+ delivers the added value of automated reporting of CE credit to the CFP Board and The College’s records, making it easier for financial professionals to fulfill their thirty-hour CE requirements every two years without administrative headaches.
With exclusive live events and new content added quarterly, there’s always something new to learn with Knowledge Hub+.
 

The six new ambassadors bring the group’s total membership to 22 professionals representing a cross-section of leaders and rising stars in financial services. The FinServe Network includes College alumni and dedicated volunteers who represent the uniqueness and diverse landscape of the profession.

“Through valuable connections and the networks derived from those relationships, we are advancing the conversation around what the financial services profession should truly be,” said George Nichols III, CAP®, president and CEO of The American College of Financial Services. “We couldn't be prouder to collaborate with these leaders and look forward to working together to help shape the future of financial services.”

Introducing Our New Ambassadors

The latest group of FinServe ambassadors bring with them a diversity of both geographical locations — stretching from Alaska to Puerto Rico and many places in between — and expertise in fields from retirement and tax planning to small business planning, wealth management, trust and estate planning, and more.

Mónica Clesse, MBA, FPA is the CEO and founder of Clesse Financial Strategies, LLC (CFS), a financial planning firm that specializes in helping clients develop customized retirement income and tax strategies. With 23 years of experience in the financial services industry, she is committed to guiding individuals and families toward financial security and independence. Her expertise spans across comprehensive financial planning, including tax-efficient strategies, retirement planning, and risk management. Clesse is known for her holistic approach, combining technical financial expertise with a deep understanding of her clients’ personal goals and aspirations.

Terrell Dinkins, ChFC®, RICP® is the president and founder of OBN Wealth Advisors, an independent registered investment advisor (RIA) firm that specializes in wealth-building strategies and comprehensive financial planning for women and small business owners. With over a decade of experience as an investment advisor, Dinkins expertly crafts financial roadmaps that help her clients thrive now and in the future. A true advocate for personal finance education, Dinkins is not only a wealth empowerment speaker, but also a best-selling author. Her books, One Bucket at a Time: A Woman’s Guide to Creating Wealth and Secrets of The 800+ Club: How to Raise Your Credit Score, Maintain Good Credit, and Live the Life of Unicorns have become go-to guides for those seeking financial freedom.

Ande Frazier CFP®, CLU®, ChFC®, RICP®, BFA™, ChSNC®, CDFA®, CEPA, CExP is a partner at Peachtree Planning of North Georgia. She began working in the financial industry over 30 years ago, specializing in personal finance and wealth-building for individuals and business owners. Her skills led her to become a prominent speaker and thought leader in the financial services industry. After serving in various leadership positions, including running a multi-million-dollar fintech company, launching a media company focused on women and money, and serving as a vice president of distribution for a large insurance company, Frazier returned to private practice by rejoining Peachtree Planning Corporation, a premiere financial services firm with offices throughout the Southeast and clientele across the country.

Sahar Pouyanrad, EMBA, CTFA, AEP®, CEP®, ChSNC® is an executive director and the West Regional Trust Team Leader for the trusts and estates team for J.P. Morgan Private Bank. In this capacity, she is responsible for oversight and administration of trust accounts and related services for the firm’s fiduciary clients across the West Region, with a primary focus on ultra-high-net-worth families. Pouyanrad collaborates with colleagues across different business lines to deliver robust banking products for wealthy, complex, and multigenerational families. As the head of new business, she is responsible for partnering with legal, compliance, and risk management to drive new business, manage risk by overseeing review of potential trust and estate opportunities, and work with senior leadership to set new business parameters relating to trusts and estates.

Ryan Swenson, RICP® is the chief growth officer and a financial advisor at Cary Stamp & Co. in Tequesta, Florida. Since joining the firm in 2021, Swenson has brought a deep passion for helping others and a wealth of experience to his role. He cites his small-town upbringing in Minnesota for shaping his strong work ethic, energy, and enthusiasm for connecting with people. Swenson’s professional journey took him through various industries before he found his calling in finance. Swenson continues to grow both professionally and personally. He is a participant in The Ensemble Practice G2 Leadership Institute and a proud graduate of Leadership Palm Beach County in 2022. His dedication to leadership and community service underscores his commitment to making a positive impact in the financial world and beyond.

Dave Valdez, ChFC®, CLU®, AAMS®, CWS®, AIF® is the chief operating officer at Alaska Wealth Advisors, where he manages all aspects of the firm’s operations. This includes financial planning, investments, client service, advisor development and recruitment, compliance, and technology. In addition to this role, Valdez serves as the State Deputy Inspector General at Joint Force Headquarters on Joint Base Elmendorf-Richardson, Alaska. His unique combination of military leadership and financial expertise makes him exceptionally qualified to help investors with their financial wellness.

About the FinServe Network

The FinServe Network is a volunteer group that serves as a valuable resource for The College, advocating on behalf of its vast alumni network, providing unique perspectives and expertise on industry trends, and sharing a collective passion for lifelong learning. FinServe ambassadors often help provide a behind-the-scenes preview into the innovative ways The College is growing with the intent of sparking ideas to put forward in their own careers.

Issues such as training, retention, career development, access to financial services, practice management, and more were all discussed during The College’s inaugural FinServe Summit in 2023, and elaborated upon at the 2024 Summit in talks from College staff and special guests. FinServe ambassadors also have unique opportunities to play an active role in promoting College initiatives and receive exclusive opportunities to help them create content that builds their standing as leaders in the profession.

We congratulate the 2024 class of our FinServe Network, and look forward to working with them as we continue our mission to uplift the profession and benefit society.

More From The College

• Meet the Members of Our FinServe Network
• Read our 2024 FinServe Summit Recap
• Browse Our Programs