About The College Financial Planning Press
The College Launches Tax Planning Certification Program
KING OF PRUSSIA, PA – November 4, 2024 – The TPCP™ Program equips financial advisors, tax professionals, and CPAs with the knowledge and tools to develop and implement tax-efficient planning strategies for individuals and business owners. While enrollment is now open, access to the first course (TPCP 101) begins on January 6. The program has already seen nearly 5,000 professionals express interest.
As part of the launch, a live demo with Jeff Levine, CFP®, CPA/PFS, ChFC®, RICP®, CWS, AIF®, BFA™, Professor of Practice in Tax Planning, will be held on Nov. 12, 2024, at 1:30 p.m. ET. Levine, known for distilling complex tax strategies into actionable insights, will guide attendees through the program alongside The College’s academic support team, providing a first look at this new curriculum. You can register here.
“The TPCP™ Program fills a critical gap in financial education by offering advisors practical tools to meet client demands for informed, tax-aware financial strategies,” said George Nichols III, CAP®, president and CEO of The American College of Financial Services. “With the expertise of our faculty, we are thrilled to provide professionals with a credential that brings tax-informed planning to the forefront of comprehensive financial planning.”
The TPCP™ Program focuses on real-world application, covering topics such as tax legislation, retirement tax planning, estate planning, and strategies for individual and business taxation.
“I’m excited to help financial professionals close the knowledge gap in this high-demand area with the launch of The College’s TPCP™ Program,” said Levine. “Tax planning is financial planning, and the TPCP™ provides the first comprehensive, in-depth education on tax strategies that directly align with clients’ goals and needs across their lifetime.”
To enroll in the program, visit TheAmericanCollege.edu/TPCP.
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 profession.
Visit the rest of our site or connect with us on LinkedIn, X, Instagram, Facebook, and YouTube. Discover all the ways you can expand your opportunities with us.
Contacts
Sarah Tremallo
908-967-0381 / Stremallo@jconnelly.com
Jared Trexler
610-526-1268 / Jared.Trexler@theamericancollege.edu
About The College Financial Planning Press
Welcome Jeffrey Levine Professor of Practice
KING OF PRUSSIA, PA – October 14, 2024 - Levine, who serves as chief planning officer at Buckingham Wealth Partners, is spearheading the launch of The College's Tax Planning Certified Professional™ (TPCP™) Program. This first-of-its-kind designation program is designed to equip learners with the skills to identify, evaluate, and implement comprehensive tax strategies for individuals and business owners, while ensuring compliance with current legislation.
"I am thrilled to expand my relationship with The American College of Financial Services and lead the launch of the Tax Planning Certified Professional™ Program," said Levine. "I’m eager to collaborate with The College's renowned faculty and incredibly talented team of producers, instructional designers, and other academic support teams to help advisors and tax professionals close the significant knowledge gap in this specialized area so that they can more effectively deliver the number one service requested most by clients. Tax planning is financial planning, and this is the first comprehensive tax planning education program in the profession."
Levine is sought-after for his ability to distill complex financial legislation, regulations and policy into clear, actionable insights. His career spans a broad range of leadership roles, including his work as the “lead financial planning nerd” for Kitces.com and the creator of several other tax and retirement-focused educational programs for advisors. Levine started his professional career with IRA and retirement planning training firm Ed Slott and Company, LLC, where he served as chief retirement strategist.
“Jeff is one of the most respected voices in financial planning today, and we are excited to have him join our faculty," said George Nichols III, CAP®, president and CEO of The American College of Financial Services. "His combination of deep expertise and a forward-thinking approach to tax-informed planning elevates the Tax Planning Certified Professional™ Program and widens our suite of offerings designed to advance financial professionals as specialists in their craft.”
Levine’s commitment to education is reflected in his ongoing role as a speaker, presenting to thousands of financial advisors, accountants, attorneys, and consumers across the country each year.
“If you’re one of our students, you’ve likely heard Jeff speak, educate, help turn the theoretical into the applicable,” said Gwen Hall, PhD, EVP and provost. “I look forward to the TPCP™ showcasing The College’s track record of applied financial education that helps the profession better support society.”
He himself is a lifelong learner with a wide array of certifications and designations, including CERTIFIED FINANCIAL PLANNER® (CFP®), Certified Public Accountant (CPA), and those conferred by The College, including the Chartered Financial Consultant® (ChFC®) and Retirement Income Certified Professional® (RICP®).
Levine will continue to shape the TPCP™ Program while also supporting The College’s students and learners through just-in-time education and events. He is a featured speaker at The College’s retirement conference, Horizons, next March 3 to 5, 2025, in Coronado, CA.
About the Tax Planning Certified Professional™ (TPCP™) Program
The Tax Planning Certified Professional™ (TPCP™) program aims to equip financial professionals with the expertise needed to navigate tax complexities for clients, including business owners, throughout various stages of life and special circumstances. The program is ideal for financial advisors, agents, and CPAs looking to incorporate holistic, tax-informed planning into their client conversations while staying compliant with ever-changing tax regulations.
For more information, visit: TheAmericanCollege.edu/TPCP.
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 profession.
Visit the rest of our site or connect with us on LinkedIn, X, Instagram, Facebook, and YouTube. Discover all the ways you can expand your opportunities with us.
Contacts
Sarah Tremallo
908-967-0381 / Stremallo@jconnelly.com
Jared Trexler
610-526-1268 / Jared.Trexler@theamericancollege.edu
10th Annual Military Summit
KING OF PRUSSIA, PA – August 29, 2024 - The American College of Financial Services is proud to announce the 10th annual Military Summit taking place in Philadelphia, PA on September 11, 2024, and the 12th anniversary of the founding of the American College Center for Military and Veterans Affairs. This prestigious event, hosted by the Center for Military and Veterans Affairs, will bring together members of the military community, financial professionals, and allies to honor veteran-scholars, celebrate donors and partners, and provide professional development opportunities.
"We are dedicated to providing our transitioning service members and their spouses with the tools they need to succeed both in and out of uniform," said Phil Easton, CMSgt, USAF (Ret.), Managing Director of the American College Center for Military and Veterans Affairs. "This event is not only about honoring their service but is also about equipping them with the knowledge and resources necessary for their financial and professional futures."
The highlight of the Military Summit will be the presentation of the Soldier-Citizen Award to Major General Suzanne Vautrinot, USAF (Ret.) and dinner at the National Constitution Center. With a distinguished 31-year career in the U.S. Air Force, Major General Vautrinot played a pivotal role in establishing U.S. Cyber Command and has continued to lead in her civilian life as a cybersecurity expert and board member for several prominent organizations.
“Receiving the Soldier-Citizen Award is a profound honor," said Major General Vautrinot. "I am proud to join The American College of Financial Services and its dedicated sponsors in our shared commitment to supporting the military community, and I look forward to celebrating the achievements of our veterans and scholars at this remarkable event."
The Summit underscores The College's steadfast commitment to the Center's mission of empowering those who serve, supporting military members and their spouses through career transition via educational and employment opportunities within the financial services. The day-time portion of the event will be held at the W Philadelphia and feature the Maury Stewart Lecture series, supported by Center Founding Partner and Sponsor Penn Mutual, with keynote speaker Michelle Caruso-Cabrera, CNBC Contributor and CNBC's first Latina Anchor, leading a session called "Building Leaders in the Financial Services Industry."
Following the lecture series, attendees will have access to three additional workshops with subjects on retirement income and wealth management, the impact of Artificial Intelligence on the financial services industry, and culminating with a fireside chat on leadership with the 2024 Soldier-Citizen recipient Major General Suzanne Vautrinot. The event will also feature a networking lounge specifically for Military Resource Groups (MRGs) and scholars, providing a unique opportunity to connect with industry leaders and peers. The Summit is designed to foster professional growth, networking, and a deepened commitment to giving back to the military community. Attendees will gain valuable insights from industry thought leaders, enhance their professional skills, and participate in sessions that qualify for CE credit hours.
Join us in Philadelphia to celebrate our veterans, learn from experts, and network with like-minded professionals who are committed to serving those who serve. For more information, visit https://events.theamericancollege.edu/military-summit-2024.
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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, Twitter, Instagram, Facebook, and YouTube. Discover all the ways you can expand your opportunities with us.
Contact
Sarah Tremallo
908-967-0381 / Stremallo@jconnelly.com
Lindsey Allumbaugh
678-643-1310 / Lindsey.allumbaugh@theamericancollege.edu
The American College of Financial Services Launches Knowledge Hub Plus CE Platform to All Financial and Nonprofit Professionals
KING OF PRUSSIA, PA – June 11, 2024 – Today marks a significant milestone for financial education as The American College of Financial Services proudly unveils the public launch of Knowledge Hub+, an innovative learning platform delivering valued and valuable continuing education (CE) to help financial and nonprofit professionals increase their knowledge and better serve their clients. Exclusive to The College's alumni in the Professional Recertification Program since January, this resource is now accessible to all as a subscription-based service, empowering learners to achieve more.
"Knowledge Hub+ embodies our commitment to continuous education and professional growth," remarked George Nichols III, CAP®, president and CEO of The American College of Financial Services. "In today's fast-paced landscape, where expertise is paramount, this platform emerges as a beacon of timely, indispensable, and actionable knowledge."
Featuring an array of learning modules spanning eight key focus areas, Knowledge Hub+ caters to the evolving needs of financial practitioners as well as those looking for more robust financial information. From financial planning to ethics in financial services, subscribers can delve into a wealth of insights meticulously curated to enhance their proficiency. With the public launch, the platform showcases over 60 hours of College and CFP Board-approved learning, automated CE reporting, fresh content delivered monthly by industry luminaries and quarterly live webcasts exclusively for subscribers.
"Many pressing challenges are impacting the financial security of Americans that both financial services and nonprofit professionals are working to solve," said Joellen Meckley, JD, MHS, ChSNC®, executive director of the American College Center for Special Needs. "With Knowledge Hub+, we're not just providing knowledge to solve those challenges; we're catalyzing real-time advancements in professional practice."
As financial landscapes evolve, so must the tools available to navigate them. Knowledge Hub+ arrives as a timely solution. From foundational principles to cutting-edge insights, this platform empowers learners to excel across eight vital areas:
- Financial Planning
- Retirement Planning
- Wealth Management
- Insurance and Risk Management
- Advanced Planning
- Philanthropic Planning
- Practice Management
- Ethics in Financial Services
Knowledge Hub+ boasts an impressive lineup of industry experts, ensuring learners receive guidance from the best minds in the field. From distinguished academics to seasoned practitioners, this platform curates insights from luminaries including Michael Finke, PhD, CFP®, and Jamie Hopkins, Esq., LLM, CFP®, ChFC®, CLU®, RICP®, among others.
"The caliber of expertise within Knowledge Hub+ is unparalleled," said Jared Trexler, The College’s senior vice president and chief marketing and strategy officer. "We're proud to provide a platform where professionals can access the insights they need to thrive in an ever-changing profession."
The platform for applied knowledge includes valuable continuing education from the following industry experts.
The American College of Financial Services Academics:
- Chet R. Bennetts, CFP®, ChFC®, CLU®, RICP®, CLF®
- David Blanchett, PhD, MSFS, CFA, CLU®, ChFC®, CFP®
- Chia-Li Chien, PhD, CFP®, PMP®, CPBC
- Sophia Duffy, JD, CPA, AEP®
- Azish Filabi, JD, MA
- Michael Finke, PhD, CFP®
- Timi Joy Jorgensen, PhD
- James Karthaus, MA, CFP®, CLU®, ChFC®
- Jennifer Lehman, PhD, JD, CFP®, CAP®
- Eric Ludwig, PhD, CFP®
- Joellen Meckley, JD, MHS, ChSNC®
- Steve Parrish, JD, RICP®, CLU®, ChFC®, AEP®
- Ed Slott, CPA
Industry Innovators, Experts, and Practice Management Leaders:
- Dave Alison, CFP®, EA, BPC – C2P Enterprises
- Denise Appleby – Appleby Retirement Consulting
- Ian Berger, JD – Ed Slott and Company, LLC
- Sarah Brenner, JD – Ed Slott and Company, LLC
- Don Graves, RICP®, CLTC® - Housing Wealth Institute
- Philipp Hecker - Bento Engine
- Adam Holt, CFP®, ChFC® - Asset-Map
- Jamie Hopkins, Esq., LLM, CFP®, ChFC®, CLU®, RICP® - Bryn Mawr Trust, Income Lab, and FinServ Foundation
- Andy Ives, CFP®, AIF® - Ed Slott and Company, LLC
- Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA - Keebler & Associates, LLP
- Jeffrey Levine, CPA, PFS, CFP®, RICP®, ChFC®, CWS, AIF, BFA™ - Buckingham Strategic Wealth
- Rick McClanahan - National Association of Certified Financial Fiduciaries, LLC
- Alex Murguia, PhD – RISA
- Wade Pfau, PhD, CFA, RICP® - RISA
- Tina Powell - Intention.ly
- Fred Reish, JD
- Tyrone V. Ross, Jr. - 401 Financial
- Heather Schreiber, RICP®, NSSA® - HLS Retirement Consulting
- Matt Seitz – C2P Enterprises
- Jason L. Smith, CEP®, BPC – C2P Enterprises
- Deirdre Van Nest - Crazy Good Talks
- Kelly Waltrich - Intention.ly
The list of participating experts on Knowledge Hub+ keeps expanding with live quarterly virtual events and new content added monthly. Learn how to expand your opportunities with Knowledge Hub+.
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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, Twitter, Instagram, Facebook, and YouTube. Discover all the ways you can expand your opportunities with us.
Contact
Sarah Tremallo
908-967-0381 / Stremallo@jconnelly.com
Lindsey Allumbaugh
678-643-1310 / Lindsey.allumbaugh@theamericancollege.edu
Partnership with Couplr.AI
KING OF PRUSSIA, PA – May 14, 2024 – The American College of Financial Services is proud to announce its strategic partnership with Couplr.AI, a leading provider of AI-powered matchmaking solutions for financial advisors and clients. This partnership offers free advisor profiles for potential consumer matching to all designees in The College’s Professional Recertification Program (PRP). These professionals already have access to innovative tools like The College’s Knowledge Hub+ continuing education platform and marketing toolkits to enhance their practice and professional lives.
The PRP is designed for designees in good standing, ensuring the active status of their credential(s) while providing access to tools, platforms, and programs. With the integration of Couplr.AI's proprietary algorithm, PRP designees can potentially take advantage of a technology platform facilitating meaningful connections with potential clients based on mutual interests and needs.
The College is the exclusive designation-conferring institution or organization that can offer free profiles for Couplr.AI’s technology.
"In today's rapidly evolving financial landscape, it's essential for professionals to leverage cutting-edge technologies to thrive in their practice,” said Jared Trexler, senior vice president and chief marketing and strategy officer at The American College of Financial Services. “Couplr.AI's innovative approach aligns perfectly with our commitment to supporting our lifelong learners."
Couplr uses AI and data science to learn more about what consumers and advisors are looking for in their professional relationship and best matches financial advisors with the ideal potential clients across a variety of human and financial dimensions, fostering stronger relationships and helping to increase advisor success rates. The integration of Couplr.AI's functionality within The College's My Learning Hub will enable PRP designees to access this innovative tool seamlessly.
College designees in good standing can opt-in to the partnership by visiting their Learning Hub (hub.theamericancollege.edu), viewing the "My Designations & Certifications" page from the menu, and clicking the button to share information with Couplr.
“Couplr.AI is all about making connections for financial professionals with consumers, potential clients, that they can aid in their financial journey,” said Derek Notman, founder and CEO, Couplr.AI. “The level of expertise possessed by the alumni network of The American College of Financial Services is unparalleled and we are proud to be a connector for their continued success.”
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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, Twitter, Instagram, Facebook, and YouTube. Discover all the ways you can expand your opportunities with us.
ABOUT COUPLR.AI
The Couplr.AI fintech client acquisition solution was specifically built for financial companies and their financial advisors. Couplr is a byproduct of frustration, first-hand experience, need, potential, data science, and the human connection. Financial advisors and the companies they represent want to help as many clients as possible, but with up to 90% of advisors failing in the first three years this is a constant challenge, yet also a huge opportunity. After 18+ years in the financial services industry as an advisor, founder Derek Notman saw one pivotal issue: a lack of empathy and trust in professional financial relationships, especially for people looking to hire a financial advisor. In other words, lead generation was broken. Knowing that human connection was foundational to success, Derek started the journey to find a solution that truly works. A smart fintech solution matching clients and financial advisors. The result feels magical, but are based on financial psychology, behavioral finance, and math. For more information, visit www.couplr.ai.
Contact
Sarah Tremallo
908-967-0381 / stremallo@jconnelly.com
Robert Moldoff Appointed Chief Information Officer at The American College of Financial Services
KING OF PRUSSIA, PA – March 12, 2024 – The American College of Financial Services announced that Robert Moldoff has been named as Senior Vice President and Chief Information Officer. In this role, Moldoff will be responsible for aligning technology strategy and operations to support The College’s Strategic Plan and vision.
"Bob's leadership and integrity, coupled with his expertise in information technology make him the perfect leader to continue to elevate and innovate information technology at The College,” said George Nichols III, CAP®, president and CEO of The American College of Financial Services. “We look forward to continuing to ensure our IT is at the forefront for higher education and the financial services professionals we serve.”
Moldoff comes to The College with over 30 years’ experience creating and leading information technology (IT) strategy, enterprise application development, IT operations, and cybersecurity. Throughout his career, he has worked as a strategic partner and trusted advisor to executive leadership, guiding design and implementation of complex technology systems.
“I look forward to working with my colleagues at The College to forward the mission of uplifting the financial services profession and society,” said Moldoff. “Technology is at the core of how we deliver value to our students and alumni, and I’m excited to continue to innovate and collaborate to support the systems that deliver our offerings.”
Prior to joining The College, Moldoff served as Chief Information Officer at CGFNS International, Inc., a non-profit serving the global healthcare market with comprehensive credentialing and assessment products. In that role, he had overall responsibility for all technology strategy, application development, security, and information technology operations. Before that, Moldoff was Director of Technology at 4R Systems, Inc., a market leader in retail inventory profit optimization. There, he managed the development, production operations, and cloud migration of large-scale analytical database systems. He also spent over 20 years in different technology roles at SCT and SunGard managing the development, implementation, and support of administrative technology solutions for non-profit higher education institutions.
Moldoff has an Executive Master of Business degree from the Fox School of Business of Temple University and a Bachelor of Science degree in Information Systems from Widener University. He served for nine years in the U.S. Coast Guard and is a Life Member of the Disabled American Veterans.
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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, Twitter, Instagram, Facebook, and YouTube. Discover all the ways you can expand your opportunities with us.
Contact:
Sarah Tremallo
908-967-0381 / stremallo@jconnelly.com
Lindsey Allumbaugh
678-643-1310 / lindsey.allumbaugh@theamericancollege.edu
The American College of Financial Services Welcomes New Officers and Members to Board of Trustees
KING OF PRUSSIA, PA – February 28, 2024 – The American College of Financial Services has named the new chair and vice chair of its Board of Trustees in addition to recently electing four new members. Salene Hitchcock-Gear, JD, president of Prudential Individual Life Insurance, assumes the title of Board chair after serving as vice chair since 2022. Brandon Carter, CLU®, ChFC®, CFP®, president of USAA Life Insurance Company, will serve as the new vice chair. Additionally, the Board welcomes Lisa Davis, MSM, Kristin Ferguson, Brad Montgomery, CLU®, ChFC®, CPCU®, FLMI®, HIA, CASL, and Matt Spriggs as its newest elected Trustee members. These appointments reflect The College’s commitment to recruiting top-tier talents to bolster its mission of educating and empowering financial services professionals.
“I am beyond pleased to congratulate Salene and Brandon on their new roles and welcome more distinguished industry leaders onto the Board,” says George Nichols III, CAP®, president and CEO at The American College of Financial Services. “The College takes great pride in maintaining a high standard of excellence when it comes to financial services education. We are confident that the collective expertise provided by Lisa, Kristin, Brad, and Matt will advance both The College and the collective financial services field into the future.”
As the new chairperson, Hitchcock-Gear is enthusiastic about the opportunity to work alongside the Board’s new members and share their insights with The College. “By providing a quality education today, we are ensuring a more robust financial services field tomorrow — it’s a critical dynamic that I and each of our new appointees fully appreciates,” says Hitchcock-Gear. “It’s a privilege to be able to collaborate with financial services professionals who value the importance of a meaningful education.”
Salene Hitchcock-Gear, JD, is president of Prudential Individual Life Insurance, leading the unit offering competitive solutions to meet the needs of consumers via a diverse portfolio of life insurance products. An industry veteran with more than 30 years of experience, Hitchcock-Gear joined Prudential in 2017 as chief operating officer of Prudential Advisors, the company’s national sales organization with more than 3,000 financial professionals, advisors and fee-based financial planners who offer clients a broad range of financial solutions. She was appointed president of both businesses in 2018. Previously, Hitchcock-Gear served as president and CEO of Ameritas Investment Corp. and president and CEO of Acacia Life Insurance Company. She is the executive sponsor for the Women Empowered employee affinity group at Prudential, serves on the Board of Trustees of The College, and sits on the Life Insurance Committee of the American Council of Life Insurers.
Hitchcock-Gear is an alumna of the University of Michigan and New York University School of Law, holds FINRA Series 7 and 24 securities licenses, and is a member of the New York State Bar Association. She is also a board member of the University of Michigan Alumni Association.
Brandon Carter, CLU®, ChFC®, CFP®, is president of USAA Life Insurance Company and multiple subsidiaries. He has responsibility for the strategy and operations for product management and distribution, actuary, underwriting, servicing, and claims across the life, health and annuity portfolio and is leading the digital transformation of the business while preserving USAA’s legendary service. The USAA family of companies provides insurance, banking and investment and retirement solutions to more than 13 million current and former members of the U.S. military and their families.
Carter is a graduate of Texas A&M University and joined USAA in 1997. In his 26 years with the company, he has held multiple executive leadership positions focused on sales, marketing, service, operational efficiency, and transformation. He serves on the Board of Trustees of The College and is an active board member for Tragedy Assistance Program for Survivors (TAPS), a non-profit organization providing comfort, care and resources to families grieving the death of a military loved one. Previously, he served as Chair of LL Global, the parent company of LIMRA and LOMA and was a member of the Board of Directors for the American Council of Life Insurers (ACLI).
Lisa Davis, MSM, is managing principal of Penn Mutual Life Insurance Company’s Philadelphia-based agency, 1847Financial. She has held the role since 2020 and has led the way in developing the firm’s advisers, leaders, and overall team practice. Davis has been with the firm for more than a decade and served as its director of practice development and managing director prior to assuming her current title. Throughout her time with 1847Financial, Davis has facilitated considerable gains in the firm’s footprint through expansions to Delaware, New Jersey, and Florida in addition to overseeing more than 100 financial advisers.
Before joining 1847Financial, Davis directed business development with DVFG Advisors, LLC. She is a graduate of Cornell University and an alumnus of The College, having earned a master’s degree in science of management and leadership.
Kristin Ferguson is a senior vice president at Securian Financial Group. She has worked with the St. Paul, Minnesota-based firm for more than 20 years and currently directs Individual Solutions, a division that includes the company’s individual life insurance and individual annuities business lines. Ferguson’s responsibilities within the subset encompass everything from supervising product development and risk management to sales and distribution. She first joined Securian Financial as a college intern in 2001 before being onboarded as a full-time employee in 2002. In that time, she has overseen an array of varied actuarial responsibilities — including the development of sophisticated hedging programs and the enhancement of the company’s asset liability management process — and held several leadership roles.
Ferguson holds a bachelor’s degree in mathematics and economics from Iowa State University and is a fellow of the Society of Actuaries (FSA), a CFA charter holder, and a member of the American Academy of Actuaries (MAAA).
Brad Montgomery, CLU®, ChFC®, CPCU®, RICP®, FLMI®, HIA, CASL, is Senior Vice President – Agency for State Farm. He has accrued more than 30 years of experience working for the national insurance provider, having first joined the company in 1991 as a leader in Life & Health operations. He later served as a State Farm Agent in the St. Louis area, eventually moving into Agency Field Leadership and serving in a number of executive roles. Prior to his current role leading Agency Operations and Corporate & Business Development for State Farm, Brad served as Vice President in Life, Health & Investment Planning Services.
Prior to his time with State Farm, Montgomery earned his bachelor’s degree in business administration specializing in finance from the University of Missouri. He is also a graduate of the Harvard Business School’s General Management Program.
Matthew Spriggs joined Truist Insurance Holdings in 2021 as CIO and oversees all aspects of technology, cybersecurity, and innovation for the enterprise and its subsidiaries including AmRisc, BenefitMall, CRC, Crump, Kensington Vanguard, McGriff, and Starwind. Matthew is a results-driven technology executive with over twenty years of leadership experience in software engineering, infrastructure operations, digital transformation, consumer banking, and insurance brokerage.
Prior to his appointment as the CIO for Truist Insurance Holdings, Matthew served as the Truist Financial Corporation CIO for Consumer and Small Business Banking along with many other roles. His teams were responsible for the JD Power award winning U Mobile application and the successful integration of hundreds of systems enabling Branch, ATM, Contact Center, Deposit, Lending, Mortgage, Credit Cards, and Debit Cards related to the merger between BB&T and SunTrust. Matthew earned a bachelor’s degree from the University of Memphis and an MBA from the University of North Carolina at Greensboro.
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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, Twitter, Instagram, Facebook, and YouTube. Discover all the ways you can expand your opportunities with us.
Contact:
Sarah Tremallo
908-967-0381 / stremallo@jconnelly.com
Lindsey Allumbaugh
678-643-1310 / lindsey.allumbaugh@theamericancollege.edu
Study Finds That Improving Financial Literacy Supports Retirement Wellness and Confidence
KING OF PRUSSIA, PA – February 14, 2024 – The American College of Financial Services 2023 Retirement Income Literacy Study finds that older Americans lack actionable retirement knowledge—averaging 31% on a retirement literacy quiz. The study reinforces the direct relationships that exist between financial literacy and factors such as asset level, as respondents with more than $1.5 million score twice as high as those with less than $100,000 (50% vs. 25%). The study also reveals the essential role financial professionals play in educating clients, as advised respondents have higher retirement income literacy and better outcomes than their peers.
The study comes at a time when more Americans need to ensure they will have enough money to last throughout their lifetimes. The much-discussed Baby Boomer wave will crest in 2024, with 12,000 retiring every day. With the “Graying of America” and the median age of Americans going up, it is more important than ever to plan for longer, well-lived lives, considering long-term care needs and replacing more of their pre-retirement income.
"In the U.S., with the exception of Social Security and the comparatively small number of workers with guaranteed pensions, saving for retirement is voluntary. This requires the consumer to know how much to save, where to save it, and how much to drawdown at retirement," says Steve Parrish, JD, RICP®, CLU®, CHFC®, AEP®, Professor of Practice at The American College of Financial Services. "This necessitates understanding basic concepts about investing, taxes, insurance, and finances. To measure how prepared Americans are for retirement, an important consideration is how knowledgeable consumers are about retirement. Call it ‘literacy,’ ‘aptitude,’ or ‘competence,’ do Americans know enough to take on the burdens that come with the freedom of voluntarily saving for retirement?"
This is why, for the last nine years, The College has conducted a comprehensive survey of retirement income literacy. Information was collected on the level of knowledge of 12 key retirement-related knowledge areas. While there has been a good deal of attention on financial literacy, almost all those studies have focused on the accumulation period. This study focuses on those ages 50-75, a period where issues such as how best to withdraw income from assets come into play and how to manage finances in retirement is critical.
Key Findings Highlight Gaps and Opportunities
One of the more eye-popping results that caught The College research team's attention was how well respondents' self-ratings of their retirement income knowledge matched up with their actual scores on our literacy test. “Among those who didn't rate themselves very highly in terms of retirement knowledge, a whopping 73% had less than $100,000 saved up for retirement. Compare that to the group at the other end of the spectrum—those who felt confident about their retirement smarts. 81% of this group had savings above $100,000,” says Eric Ludwig, PhD, CFP®, Retirement Income Certified Professional (RICP®) Program Director and Director of the American College Center of Retirement Income at The American College of Financial Services.
Retirement Knowledge Powers Confidence
One measure—and perhaps the most significant indicator—of retirement outcomes is confidence. The study uses a Retirement Confidence Scale based on respondents’ self-reported confidence that they will feel financially secure, have enough money to live comfortably, and do a good job handling their investments throughout retirement. The 2023 Retirement Income Literacy Study reveals the predicted probability of the highest Retirement Confidence level increases with Retirement Income Literacy Score. Put simply: As retirement planning knowledge improves, so does confidence.
Americans Struggle With Unfamiliar Topics
Direct experience seems to contribute to applied financial knowledge in certain areas, yet the unknown may catch Americans unprepared. Although both overall scores and underlying scores on the 12 retirement knowledge areas are low across the board, respondents show significantly greater knowledge of certain areas having to do with lived experience, including inflation, housing, and Medicare—all of which garner higher scores than the overall average (31%).
The study also explores the topic of longevity—an essential knowledge area to understand when planning retirement income to last a lifetime. Americans consistently underestimate life expectancy and are unaware of how long individuals tend to live, with just over one in five (22%) expecting to live past 89 and just over one in four (27%) able to correctly identify the average life expectancy of a man at age 65. This is particularly concerning because so many Americans plan to supplement their Social Security with their 401(k) and IRA accounts. If they underestimate their own life expectancy, they risk exhausting their savings in retirement—potentially outliving their assets.
One Size Doesn’t Fit All
Retirement planning knowledge is highly variable across different parts of society. Generally, more assets, higher education, male gender, White or “Other” race, and greater life experience (including age and retirement status) correlate to higher Retirement Income Literacy Scores. The research highlights disparities across different demographic segments, including:
- Respondents score higher the more investable assets they have.
- Respondents who have earned advanced degrees score highest, followed by college graduates.
- Men consistently score higher than women, currently and in the past.
- White and “Other” respondents, including Asian/AAPI respondents, score higher than Black and Hispanic respondents.
- Retired respondents score higher than non-retired respondents.
“In the complex realm of financial planning, the idea that a one-size-fits-all approach suits everyone is a misconception. Just as each person is unique, their financial strategies should be tailored accordingly, particularly regarding retirement income planning and considerations for long-term care and health care,” says Kaylee Ranck, PhD, Director, Office of College Research at The American College of Financial Services. “Developing personalized plans that take into account individual goals, projected lifespan, and specific healthcare requirements within the constantly evolving and intricate landscape of retirement is essential for ensuring a secure financial future.”
Financial Advisors Can Help Bridge Knowledge Gaps
The study establishes a compelling link between retirement literacy and working directly with a financial advisor. Advised respondents have higher scores across all knowledge areas, are more financially well, and feel more confident about retirement.
- Participants with ongoing advisory relationships scored 11 points higher on retirement income literacy than those without (38% vs 27%).
- Those who work with financial advisors score nine points higher than those who don’t (50% vs. 41%) on financial well-being, measured using the Consumer Financial Protection Bureau Financial Well-Being Scale.
- Having a financial advisor predicts increased confidence and decreased stress and anxiety, controlling for demographic factors.
“While this most recent iteration of the Retirement Income Literacy Study reiterates the themes found in most financial planning research concerning the lack of financial and retirement literacy, one thing that became abundantly clear this time around was just how important the role of the financial professional is in consumers’ lives,” says Chet Bennetts, CFP®, CHFC®, CLU®, RICP®, CLF®, CFP® Certification Education and Chartered Financial Consultant® (ChFC®) Program Director at The American College of Financial Services. “When we measured financial anxiety and financial stress, those with a financial professional had 20% less financial anxiety and 25% less financial stress.”
With robust results from surveying more than 3,765 Americans aged 50 to 75, the Retirement Income Literacy Study research team plans to release additional data to provide deeper analysis into topics highlighted here–plus additional perspectives yet to be revealed. For more information and to view initial and future results, visit TheAmericanCollege.edu/RILS.
Methodology
The 2023 Retirement Income Literacy Study conducted by The American College of Financial Services measures financial literacy in 12 retirement-related knowledge areas among individuals approaching or in retirement age. Researchers from The College surveyed 3,765 Americans aged 50 to 75 in online interviews conducted in August 2023. The data was collected to match the 2020 U.S. Census for gender and race. Building on studies conducted in 2014, 2017, and 2020, the 2023 study included respondents of all asset levels, whereas prior versions focused on respondents with a minimum of $100,000 of investable assets. The insights derived will shape The College's educational initiatives, collaborations, and thought leadership endeavors.
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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, Twitter, Instagram, Facebook, and YouTube. Discover all the ways you can expand your opportunities with us.
Contact:
Sarah Tremallo
908-967-0381 / stremallo@jconnelly.com
Lindsey Allumbaugh
678-643-1310 / lindsey.allumbaugh@theamericancollege.edu
The American College of Financial Services Announces Knowledge Hub+, a Just-in-Time Learning and CE Platform
KING OF PRUSSIA, PA – October 31, 2023 – The American College of Financial Services announces Knowledge Hub+, a new learning platform that curates insights from sought-after academics, industry innovators, financial planning experts, and practice management leaders into one dynamic experience. Knowledge Hub+ will launch with over 50 hours of combined CFP® and College continuing education (CE), with 10 hours of new growth-focused content planned quarterly.
Launching in January, The College will first exclusively introduce Knowledge Hub+ to over 27,000 designees participating in The College’s Professional Recertification Program (PRP), followed by a public launch of the new learning platform later in 2024. The College’s vast community will benefit from a robust library of CFP Board and College approved CE provided by in-demand subject matter experts, including Michael Finke, PhD, CFP®, Wade Pfau, PhD, CFA, RICP®, Ed Slott, CPA, Steve Parrish, JD, RICP®, CLU®, ChFC®, AEP®, Jamie Hopkins, Esq., LLM, CFP®, ChFC®, CLU®, RICP®, Kelly Waltrich, Tyrone V. Ross, Jr., and more.
“The College has conducted several studies to determine the knowledge formats financial advisors and agents prefer most. In a fast-paced marketplace, where expertise is the unique value that professionals bring to client conversations, they often need to know … now,” said Jared Trexler, Senior Vice President, Chief Marketing and Strategy Officer of The American College of Financial Services. “We are excited to deliver another avenue for lifelong learning.”
“Having the ability to immediately provide education that is critical to professionals is a game changer,” said Chet Bennetts, CFP®, CHFC®, CLU®, RICP®, CLF®, Assistant Professor, Financial Planning and ChFC® and CFP® Certification Education Program Director at The American College of Financial Services. “We are able to bring cutting-edge knowledge around topics like AI to professionals in real-time, as they most need it.”
Knowledge Hub+ provides learning to accelerate practice advancements in nine areas, including:
- Financial Planning
- Retirement Planning
- Wealth Management
- Insurance and Risk Management
- Advanced Planning
- Philanthropic Planning
- Practice Management
- Diversity, Equity, and Inclusion
- Ethics in Financial Services
"The ability to partner with The American College of Financial Services and provide actionable and timely insights is an exciting journey," said Jeff Levine, CPA, PFS, CFP®, RICP®, ChFC®, CWS, AIF, BFA™, Chief Planning Officer of Buckingham Strategic Wealth. “Knowledge Hub+ will allow me to bring critical tax-related learning to professionals, aiding them and thus impacting their clients.”
The platform for applied knowledge will launch with the following industry experts.
The American College of Financial Services Academics:
- Chet R. Bennetts, CFP®, ChFC®, CLU®, RICP®, CLF®
- David Blanchett, PhD, MSFS, CFA, CLU®, ChFC®, CFP®
- Chia-Li Chien, PhD, CFP®, PMP®, CPBC
- Sophia Duffy, JD, CPA, AEP®
- Azish Filabi, JD, MA
- Michael Finke, PhD, CFP®
- Timi Joy Jorgensen, PhD
- Jennifer Lehman, PhD, JD, CFP®, CAP®
- Eric Ludwig, PhD, CFP®
- Joellen Meckley, JD, MHS, ChSNC®
- Steve Parrish, JD, RICP®, CLU®, ChFC®, AEP®
- Ed Slott, CPA
Industry Innovators, Experts, and Practice Management Leaders:
- Dave Alison, CFP®, EA, BPC – C2P Enterprises
- Denise Appleby – Appleby Retirement Consulting
- Ian Berger, JD – Ed Slott and Company, LLC
- Sarah Brenner, JD – Ed Slott and Company, LLC
- Adam Holt, CFP®, ChFC® - Asset-Map
- Jamie Hopkins, Esq., LLM, CFP®, ChFC®, CLU®, RICP® - Bryn Mawr Trust, Income Lab, and FinServ Foundation
- Andy Ives, CFP®, AIF® - Ed Slott and Company, LLC
- Jeff Levine, CPA, PFS, CFP®, RICP®, ChFC®, CWS, AIF, BFA™ - Buckingham Strategic Wealth
- Rick McClanahan - National Association of Certified Financial Fiduciaries, LLC
- Alex Murguia, PhD – RISA
- Wade Pfau, PhD, CFA, RICP® - RISA
- Tina Powell - Intention.ly
- Meghan Richter - Intention.ly
- Tyrone V. Ross, Jr. - 401 Financial
- Heather Schreiber, RICP®, NSSA® - HLS Retirement Consulting
- Matt Seitz – C2P Enterprises
- Jason L. Smith, CEP®, BPC – C2P Enterprises
- Deirdre Van Nest - Crazy Good Talks
- Kelly Waltrich - Intention.ly
Additionally, Knowledge Hub+ will provide automated reporting to the CFP Board and The College’s records, making it easier for alums and CFP® certificants to fulfill the thirty-hour continuing education requirement every two years without administrative headaches.
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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, Twitter, Instagram, Facebook, and YouTube. Discover all the ways you can expand your opportunities with us.
Contact:
Sarah Tremallo
908-967-0381 / stremallo@jconnelly.com
Lindsey Allumbaugh
678-643-1310 / lindsey.allumbaugh@theamericancollege.edu