Trexler brings to The College 16 years of marketing experience, including leadership roles in financial education, investment, assets, and wealth management. He will join The College on September 7, reporting directly to President Nichols. 

As the head of Marketing and Communications for the nation’s largest regionally accredited, nonprofit institution dedicated to financial services education, Trexler and his team of marketing and communications professionals will be charged with broadening The College’s position and reputation in the marketplace, expanding its brand in a rapidly-changing financial services profession, and driving enrollments and engagement that supports The College’s mission and vision to provide best-in-class applied financial knowledge and education. 

“The College’s mission to benefit society is a noble pursuit that continues to deliver significant impacts across the financial services profession and communities at large. We achieve that mission by engaging with a wide range of audiences, keeping our finger on the pulse of the profession, and delivering experiences that educate and empower people to expand their knowledge,” Nichols said. “Jared has spent the better part of his career working directly with financial advisors and partner firms across insurance, broker-dealer, and RIA channels, as well as industry thought leaders and the financial media. He understands how best to position our story and our strategy and communicate it dynamically to more people in more places.” 

Trexler’s marketing leadership has extended to several areas of financial services, from heading content and branding at Ed Slott and Company, LLC, the nation’s foremost leader in retirement distribution planning education and training, to creating and executing marketing strategies and driving assets under management (AUM) and assets under advisement (AUA) growth in investment and private wealth management. 

Trexler also previously served as Director of Strategic and Executive Communications at The College, working with Nichols and The College’s leadership team to draft compelling narratives that best communicated strategic initiatives, new educational programs, and Centers of Excellence. He also drove an expansion of The College’s content marketing efforts, developed The Office of the President website, and supported The President’s efforts at industry meetings and events. He is a past recipient of the Mary Varner Award for Exemplary Service, The College’s highest honor for professional staff. 

“I’m very excited to partner with talented professionals across The College and lead a department with so many compelling stories to tell,” Trexler said. “We’ll continue to focus on delivering exceptional experiences that excite, engage, educate, and empower. Applied knowledge has a ubiquitous influence on professional growth and the financial security of consumers and their communities. As brand stewards and business builders, our team is responsible for communicating the profession’s most universal value.” 

Trexler holds a Bachelor of Arts degree from Pennsylvania State University, where he returned to author a book on Penn State football in the years following his graduation. He’s a twice-published author, former columnist, and has offered his insights on financial marketing’s transformation in InvestmentNews, Financial Planning, and at numerous industry events, including the New York State Society of CPAs and the Financial Services Institute National Summit. ​ 

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.

The Clambake will be held virtually this year on September 9, 2021, featuring thought-provoking content and a moving, patriotic award ceremony. A key component of the event is The American College Soldier-Citizen Award, established in 2014 to recognize and celebrate the sacrifice and service of its recipients who have selflessly given back to society and their community. The 2021 Solder Citizen Award Recipient is Admiral Tom Fargo, USN (Ret). 

"The Penn Mutual Center for Veterans Affairs' goal is to empower deserving veterans and active-duty service members with career opportunities, and to infuse the financial services profession with a talent pool of determined, mission-minded individuals who are vital to the integrity of the profession,” said Ted Digges, Captain, SC, USN (Ret.), Executive Director of the Penn Mutual Center for Veterans Affairs. "We are grateful for the support of so many to our scholarship program supporting those pursuing success in their second careers." 

Amid preparations for the Clambake, the Penn Mutual Center for Veterans Affairs hit a major milestone by awarding their 1,000th scholarship. Craig Martin, the 1,000th scholarship recipient from Niceville, FL, is an example of the caliber of the Center's scholars. Martin served in the Army Special Forces for 17 years before retiring in 2018 with 100% disability from combat service. He describes himself as a strategic planner, serial entrepreneur, mentor, and leader who is skilled at developing effective teams and accomplishing goals. He is known for honesty, flexibility, results-based initiatives, and loyalty, and is a great father to his children. 

Martin successfully transitioned from the military to financial services, and is now a financial advisor and wealth manager servicing active-duty and retired military clients. He plans to obtain additional financial planning knowledge through the Chartered Financial Consultant® (ChFC®) program so he can provide exceptional service and experience-based recommendations to his clients. “Financial planning has been a seamless transition from my military experiences. My plans are at a fiduciary level and include problem-solving, risk reduction, and life contingency planning,” said Martin. 

"At the heart of the excitement around the Clambake beats the mission of the Center: to provide educational support and career opportunities to men and women who have honorably served in the Armed Forces,” said George Nichols III, President and CEO of The College. “The Clambake's generous supporters have allowed more than 250 deserving veterans, active-duty service members, and their spouses to receive full scholarships to programs offered by The College in the past year alone.” 

The Penn Mutual Center for Veterans Affairs has experienced explosive growth since its launch in 2012 thanks to impressive support from corporate and private donors alike, as well as word-of-mouth advocacy from scholars. The annual Clambake continues to generate professional interest and garner financial support for the important mission of the Center. 

If you would like to learn more about giving a unique opportunity to active-duty military personnel, veterans, and their spouses seeking a new direction through flexible distance learning and training, visit veterans.theamericancollege.edu/scholarships. 

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.

The President’s Dinner will be the first in-person event The College has hosted since the onset of the COVID-19 pandemic in early 2020, which forced the 2020 President’s Dinner to be held in a virtual format. 

As in years past, The College is proud to honor several individuals at the year-end gala who have made significant and meaningful contributions to The College, its programs and initiatives, the financial services industry, and society at large. These include honors such as the Solomon S. Huebner Gold Medal, the President’s Award, the NextGen Financial Services Professional Awards, and the 2021 Alumni Hall of Fame induction. 

“We’re incredibly excited to return to the tradition of our in-person President’s Dinner and recall why it’s one of our favorite times of the year,” said George Nichols III, President and CEO of The American College of Financial Services. “Getting to celebrate the connections, camaraderie, and commitment to the community that tie us all together is exactly what The College is all about, and I know I’ll be honored to be able to actually shake the hands of this year’s deserving award recipients.” 

Presented annually since 1975, The College’s Huebner Gold Medal is named for Solomon S. Huebner—financial services, education, and insurance pioneer who founded The College in 1927—and is the highest honor bestowed by The College. Individuals receiving the Huebner Gold Medal are those whose leadership and support have advanced the mission of The College in significant ways. This year, The College will honor a pair of recipients with the Huebner Gold Medal: 

• Michael Corey, Managing Partner of MJC Ventures, Advisory Board Member Emeritus for The American College Penn Mutual Center for Veterans Affairs, past member of The American College Board of Trustees, past member of The American College Foundation Board, and member of The College’s President’s Roundtable 
• James Meehan, MSM, Managing Partner at 1847 Financial, immediate past Chair and current member of The American College Penn Mutual Center for Veterans Affairs Advisory Board, and current member and former Chairman of the Board of Trustees 

Specifically, Corey and Meehan are honored this year for their leadership roles with The College’s Board of Trustees and The College’s Penn Mutual Center for Veterans Affairs immediate past Chair and Advisory Board Member Emeritus respectively. Both men have played a vital role in helping The College and its Center for Veterans Affairs serve the military community, including active-duty, guard, and reserve service personnel, veterans, and their families with educational opportunities to find second careers in financial services. 

Established in 2005, the Alumni Hall of Fame award recognizes graduates of The College’s programs who have made extraordinary contributions in time, talent, and treasure to the institution, their community, and the financial services profession. This year, The College recognizes Michael “Mickey” Rosenzweig, CLU®, ChFC®, AEP®, Founder, President, and CEO of Rosenzweig Financial Services and Trustee at The College, for his over four decades of dedication to the betterment of the financial services profession and stewardship of The College and its mission. Rosenzweig is a past member and Chair of The American College Alumni Association Advisory Board and past member of The College Foundation. 

Conferred by the President and CEO of The American College of Financial Services, the President’s Award recognizes the extraordinary leadership and generosity of benefactors and volunteers for The College. The 2021 President’s Award recipient is Susan Cooper, MSM, RICP®, ChFC®, CLU®, CAP®, CFP®, Managing Director at Prudential Financial. Cooper has been a critical and valuable partner in many of The College’s initiatives and serving in many leadership roles including a current member of the Board of Trustees and past member of The College Foundation. 

Intended to recognize the significant contributions made to the financial services industry by individuals under the age of 40, the NextGen Financial Services Professional Award is given each year to a group of talented and deserving young professionals making their mark on the industry. The 2021 group of award recipients include: 

• Amie Agamata, CFP®, AIF®, RICP®, ChFC®, CLU® 
• LeTian Dong, CFP®, RICP®, ChFC® 
• Shellie Haluska, CFP®, CLU®, ChFC®, AAMS® 
• Michael Sise, CFP®, ChFC®, CPFA®, AIF®, CRPC® 
• Andrew Tudor, CFP®, RICP® 
• Lauren Yamaoka, CAP® 

To ensure the health and safety of event attendees, The College will adhere to all COVID-19 guidelines within the City of Philadelphia. Vaccination against the COVID-19 virus is encouraged. To learn more about the 2021 President’s Dinner or to register, visit here or call 610-526-1338. 

The College is accepting President's Dinner tributes for those that want to offer congratulations to the 2021 honorees in the form of donations that will allow the institution to continue to serve the industry and benefit society. 

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.

Penn Mutual, a leading provider of life insurance since 1847 focused on helping the people they work with get stronger, is the founding sponsor and strategic partner of the American College Center for Veterans Affairs, launching new initiatives this month to better serve the community. 

“The College is tremendously grateful to Penn Mutual for their continued support and the opportunity to collaborate with others seeking to uplift our nations’ heroes,” said George Nichols III, president and CEO of The American College of Financial Services. “This critical investment provides important funding to help the Center for Veterans Affairs make a measurable impact in our collective mission to transform the lives of our active-duty, guard, and reserve service members, veterans, and their families.” 

The Center for Veterans Affairs will support the veterans community through additional initiatives and activities including: 

• Transition support services 
• Career services, job placement, and a mentorship program 
• Expanded veterans scholarship program and an executive leadership program 
• Thought leadership and research 
• Collaboration across The College’s Centers of Excellence 

“We’re honored to continue our support of veterans and extend our commitment to The American College of Financial Services,” said Eileen McDonnell, Penn Mutual chairman and chief executive officer. “We firmly believe in the mission of the Center for Veterans Affairs to provide financial education and purposeful employment and career opportunities for our active-duty, guard, and reserve service members, veterans and their families. Over the past 10 years, Penn Mutual has had a positive impact on The College, the industry, and the lives of the scholarship recipients and their clients and we believe that it will make an even greater impact in the years to come.” 

Penn Mutual has a long history of support for America’s military veterans and has invested in programs designed to assist the veterans community in transitioning to civilian life and career opportunities in financial services. Through an initial $2.9 million commitment from Penn Mutual in 2012, the Center for Veterans Affairs has awarded scholarships to active-duty, guard, and reserve service members, veterans, and their families. Penn Mutual’s important investment in the Center for Veterans Affairs underlines their focus on supporting financial professionals and their clients by building customized solutions for individuals, families, and businesses, hiring and developing talent that can have a positive change in their communities, and giving back to the people and communities where they live and work. 

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 THE PENN MUTUAL LIFE INSURANCE COMPANY 

Penn Mutual helps people become stronger. Our expertly crafted life insurance is vital to long-term financial health and strengthens people’s ability to enjoy every day. Working with our trusted network of financial professionals, we take the long view, building customized solutions for individuals, their families, and their businesses. Penn Mutual supports its financial professionals with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.

In his position, Chief Roy will oversee the Center for Veterans Affairs’ research, programs, and outreach to provide educational support and career opportunities to eligible service members, veterans, and their spouses. 

“Throughout his career, Chief Roy has proven himself to be a driven leader who is passionate about helping others, from the members and veterans of our armed forces to the public at large, both within the U.S. and around the world,” said Nichols. “This is the vision and value set that’s needed to give back to our honorable communities of service members and their loved ones. Chief Roy’s service record and professional qualifications speak for themselves, and he’s the kind of leader we want on our team.” 

Established in 2012 by a generous gift from the Penn Mutual Life Insurance Company, the vision of the Center for Veterans Affairs is to empower deserving service members, veterans, and military spouses with career opportunities, thereby infusing the financial services profession with a talent pool of determined, mission-minded individuals who will be vital to the economic integrity and sustainability of the financial services profession in the 21st century. 

The Center for Veterans Affairs recently hit a major milestone by awarding their 1,000th scholarship, a program built to grant deserving professionals access to The College’s keystone designation programs, including the Retirement Income Certified Professional® (RICP®), Chartered Financial Consultant® (ChFC®), Wealth Management Certified Professional® (WMCP®), graduate degree programs, and others that give them an edge in finding a new career in financial services, along with the benefits of The College’s vast support and alumni network. The Center also holds yearly events to drive awareness of veterans issues and to raise money for further scholarships, as well as the profiles of those who have courageously served—most notably through the annual Clambake & Soldier-Citizen Award event. 

“I’m always seeking new ways to serve the people of this great nation, including my fellow veterans, military members and families. The opportunity to lead a Center of Excellence like this and work for an institution like The College that sets the gold standard of financial services education is an honor for me, personally and professionally,” said Chief Roy. “I look forward to collaborating with my peers across The College and the financial services industry to bring renewed attention to the challenges facing military members and families and recognition for all that they do on behalf of this country and all of us.” 

As Chief Master Sergeant of the Air Force, Roy represented the highest level of leadership among noncommissioned officers in the U.S. Air Force—only the 16th service member appointed to such a position—and in his role provided direction for enlisted men and women, as well as representing their interests to the American public and all levels of government. He served as the personal advisor to the Chief of Staff and the Secretary of the Air Force on all issues regarding the welfare, readiness, morale, and proper utilization and progress of enlisted forces. In his business career, Chief Roy also most recently served as Chief Operating Officer for Silotech Group, a small company focused on advanced cyber, intelligence, IT, and modernization solutions. During the COVID-19 pandemic, Chief Roy brought on 20 new employees to the firm, expanded to three new business sectors as part of his vision to grow Silotech beyond small business status, and brought in nearly $20 million in annual revenue. 

Chief Roy grew up in Monroe, MI, and entered the Air Force in 1982. He has been stationed in places including Guam, South Korea, Kuwait, and Japan, as well as Hawaii, Florida, Missouri, Mississippi, South Carolina, and Virginia. He holds a Bachelor’s degree in engineering management from Park College and a Master’s degree in human resource management from Troy State College, and has worked a variety of civil engineer duties. His military background includes roles at squadron, group, numbered Air Force, and combatant command levels, as well as serving as Senior Enlisted Leader and advisor to the U.S. Pacific Command. 

“As a fellow Armed Forces veteran, I salute Chief Roy for everything he has accomplished over his lifetime of service,” said Jim Petersen, PhD, MSM, MSFS, CFP®, CLF®, ChFC®, CLU®, RICP®, WMCP®, ChSNC®, CRPC®, CAP®, CASL®, AEP®, Chair of the Penn Mutual Center for Veterans Affairs Advisory Board. “His work on behalf of this country and the business community has been exemplary, and under his leadership I truly believe we’ll be able to take our efforts to provide opportunity and education to veterans to the next level.” 

A charismatic speaker and presenter with a strong background in effectively leading high-performance teams and implementing organizational change, Chief Roy’s passion for education and helping others serves as a through-line from his time in the military to corporate roles. He has overseen diverse projects, including professional development of enlisted forces at home and abroad, designing a strategic development model to grow the next generation of Air Force enlisted leaders through an Enlisted Development team that provides guidance and mentorship to 25,000 senior NCOs. In addition, he worked to promote programs ensuring National Guard and Reserve forces are trained to the same standard as their active-duty counterparts. 

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.

This major gift, announced at the 15th annual Conference for African American Financial Professionals (CAAFP), is one of the first The College has received in support and celebration of The College’s commitment to close the racial wealth gap with lasting, collective community-focused solutions. For their leadership, Northwestern Mutual will be recognized as a Founder’s Circle donor. 

“We are tremendously grateful to Northwestern Mutual for their generous contribution which will allow us to take huge strides towards measurable impact in our collective effort to partner with underserved communities and promote economic justice,” said George Nichols III, President and CEO of The American College of Financial Services. “These critical investments our industry leaders are making will allow the Center for Economic Empowerment and Equality to collaborate with others seeking to write a new narrative in history around economic equity.” 

As part of Northwestern Mutual’s ongoing commitment to advancing diversity, equity, and inclusion, their financial support will help with the expansion of the Center’s Four Steps Forward initiative and programs to reach underserved communities and increase their opportunities for economic mobility, as well as educate and empower Black financial professionals as they start and grow their careers. This critical seed funding will help to expand the Center’s financial education programs for Black women, bolster the Center’s scholarship programs for HBCU and early-career financial professionals, and implement a new approach to study groups for Black financial professionals. 

“We are proud to be a partner of The American College and, through this investment in the Center for Economic Empowerment and Equality, work together to advance our common goals of addressing the racial wealth gap and accelerating the success of Black/African American financial professionals,” said Tim Gerend, executive vice president, chief distribution officer, and a member of Northwestern Mutual’s Sustained Action for Racial Equity (SARE) task force. “Northwestern Mutual has a long-standing commitment to diversity, equity and inclusion and this investment reflects our belief that, by partnering with The American College, we can leverage our efforts and achieve a greater impact in our efforts to drive financial inclusion and Black/African American prosperity.” 

In August 2021, Northwestern Mutual announced a new $100-million impact investing fund to deliver on the company's commitment to addressing inequality and the racial wealth gap in the U.S. The fund, which will direct investments to Black communities nationally and locally in the Milwaukee area, will focus on three key opportunities: physical and social infrastructure, access to capital for individuals and businesses, and healthy sustainable neighborhoods and communities. The fund is an outcome of the company's SARE task force, which launched in 2020 and focuses on making a bold, real, and long-term impact that drives equity and inclusion in Black communities.

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 NORTHWESTERN MUTUAL 

Northwestern Mutual has been helping people and businesses achieve financial security for more than 160 years. Through a holistic planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what’s most important. With $308.8 billion in total assets, $31.1 billion in revenues, and $2 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.75 million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. The company manages more than $200 billion of investments owned by its clients and held or managed through its wealth management and investment services businesses. Northwestern Mutual ranks 90 on the 2021 FORTUNE 500 and is recognized by FORTUNE® as one of the “World’s Most Admired” life insurance companies in 2021. 

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance).

These major gifts, announced at the 15th annual Conference of African American Financial Professionals (CAAFP), are some of the first The College has received in support of The College’s commitment to closing the racial wealth gap with lasting collective, community-focused solutions. For its leadership, New York Life will be recognized as a Founder’s Circle donor and the New York Life Foundation will be recognized as a Partnership Circle donor to the Center. 

“The generous support of New York Life and the New York Life Foundation is a seed of opportunity to take huge strides towards measurable impact in our collective effort to promote economic justice and uplift underserved communities,” said George Nichols III, President and CEO of The American College of Financial Services. “We are tremendously grateful for these critical investments that will allow the Center for Economic Empowerment and Equality to collaborate with others seeking to write a new narrative in history around economic equity and social justice.” 

New York Life and the New York Life Foundation’s financial support will help with the expansion of the Center’s Four Steps Forward initiative and programs to reach underserved communities and increase their opportunities for economic mobility, as well as educate and empower Black financial professionals as they start and grow their careers. This seed funding is critical to expanding the Center’s financial education programs for Black women, bolstering the Center’s scholarship programs for HBCU and early-career financial professionals, and implementing a new approach to study groups for Black financial professionals. 

“Growing and developing a diverse and educated force of financial professionals who mirror the diversity of our communities is aligned with New York Life’s mission of providing financial security and peace of mind to our customers, “ said New York Life Chairman and Chief Executive Officer Ted Mathas. “We are proud to partner with The College to help provide access and education to financial professionals of color so that more families in America have a chance to build financial security and economic mobility.” 

New York Life’s contributions align with the company’s initiatives to close the racial wealth gap, which includes the company’s $1 billion impact investment initiative. As part of this initiative, New York Life is partnering with diverse asset managers, federally chartered community development financial institutions, and other mission-driven organizations to invest in underserved and undercapitalized communities over the next three years with a focus on supporting small businesses, affordable housing, and community development. Overall, New York Life has a longstanding record of supporting organizations that support the Black community. During the last 20 years, the company has provided more than $28 million to such organizations. 

Inspired by New York Life’s tradition of service and humanity, the New York Life Foundation invests in programs that benefit young people, focused on educational enhancement and childhood bereavement support. In particular, it recognizes the systemic inequities in the educational system. Since 2014, the New York Life Foundation has dedicated over $63 million in grants and programs to support education for middle school youth students and since its founding in 1979, it has made nearly $380 million in charitable contributions to national and local nonprofit organizations. 

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.

¹Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/1/2021. For methodology, please see http://fortune.com/fortune500/. 

²As reported by “Fortune 2021 World’s Most Admired Companies ranking within Insurance (Life and Health),” Fortune magazine, 2/1/2021. For methodology, please see https://fortune.com/franchise-list-page/methodology-worlds-most-admired-companies-2021/.

The research found that engagement of the Black community within the financial services industry is largely transactional – not advisory – and that Black women are less aware of the different types of relationships they can have with financial advisors and institutions, an especially concerning finding given Black women play a prominent earning and financial decision-making role in Black households and communities. 

The Trust Study, comprised of 3,500 middle-income Black women, found that they experience discrimination and difficulty accessing wealth-building tools, with ‘lack of trust’ as the second most cited reason why this group is not accessing financial services. 

These findings are part of the inaugural iteration of the Black Women, Trust, and the Financial Services Industry Study from the American College Center for Economic Empowerment and Equality (CEEE). The research sought to understand Black women’s unique financial, social, and emotional insights concerning their wealth journey, its linked impact on their families and communities, and what Black women want and need from the financial services industry to succeed financially. 

“Black women are aspiring for financial stability for themselves, but at the same time they want to use their economic power to build a better future for their families and their communities,” said Karim Hill, executive director of the Center for Economic Empowerment and Equality. “The financial services industry has an opportunity to increase awareness of what is possible for Black women and their wealth with trusted advisory services, products, professionals, and investments in advisor diversity and Black-owned financial institutions. The industry must begin providing trusted advice uniquely tailored to Black women who desire to better navigate the world we are living in.” 

Need for More Culturally Relevant Research and Analysis Essential to Uncover Opportunities for Change 

This Trust Study provides a reintroduction to Black women through their own words, in a narrative exploration with statistical significance, and explores new thinking around better serving Black women, their households, and their communities concerning their wealth wants and needs. According to this research, providing information about the questions to ask about savings, investing, and transferring wealth is an easy way to build trust and better relationships with Black women. 

The research underscored three cultural norms critical to Black women’s financial decision-making and relationships with the financial services industry. Among the emerging themes: 

Importance of trust in decision-making 

• 60% of respondents expressed difficulty in finding financial professionals or advisors who they trust 
• ‘Lack of trust’ was the second most cited reason after ‘too expensive’ for why this group is not accessing financial services 

Priority of community / family rather than a focus on ‘rugged individualism’ 

• 62.5% of respondents in higher-income households stated it was important to build wealth for the community 
• 58% believe Black institutions can provide the tools to serve their needs 

Value of interpersonal community and relationships Black women trust financial services professionals to a greater degree (~10% more) than financial services organizations – reiterating the importance of trust and personal relationships Black women (58%) are more likely to report that racial identity affects how they are treated by financial services professionals than gender 

“This research validates how our Four Steps Forward approach charts a collective pathway for impact that goes beyond the transaction, beyond savings and debt products, to deliver culturally relevant messages embedded in deep, personal advisory relationships across a Black woman’s wealth journey,” said George Nichols III, President and CEO of The American College of Financial Services. “Black women are gatekeepers of their families and communities, and many serve as the primary breadwinner and financial decision-maker of their households. The College is committed to evidence-based, data-driven indicators – like this inaugural Trust Study – that serve as an inquiry of what Black women need to succeed financially and an invitation to be part of an industry-wide solution.” 

The Trust Study highlights why a cultural lens must be used when investing in ways to accelerate the economic strength of Black women, a key customer segment that needs increased awareness and support from the financial services industry. 

Among other key takeaways from the research: 

• Emergency savings, retirement funds, and credit scores are top priorities for Black women – as well as major sources of concern 
• Racial identity is significant for Black women in both their financial decision-making and their financial services institutions
•  Black women do trust financial services, but they are more trusting of Black-owned institutions 

“The research underscores that industry engagement of the Black community is largely transactional, not advisory. What really works are long-term advisor relationships that lead to wealth creation across generations,” said Dr. Pamela Jolly, Senior Strategist, The American College of Financial Services. 

“We must identify ways to better connect Black women with advisory relationships,” Jolly continued. "That starts with establishing an understanding of who Black women are before selling to them, connecting products and services to Black women’s values, highlighting Black professionals’ role in the industry as trusted brokers, and building a diverse network of formal and informal channels to connect Black women to their desired wealth outcomes.” 

The financial services industry has an opportunity to move beyond a transactional relationship with Black women to one that provides planning with product support – not product as an insular solution. By creating greater access to applied financial knowledge and community solutions, The College strives to narrow the wealth gap and benefit society through generational financial literacy that empowers and educates. The financial services industry can complement these efforts with products and services specifically designed to help Black families create and sustain wealth-building practices. 

STUDY METHODOLOGY 

Information for this study was gathered between July and September 2021. The quantitative study of 3,500 Black women explored the central reasons for and places of Black women’s trust and distrust of the financial services industry. These findings informed a qualitative study in which The College spoke with respondents to gain deeper insights into the needs, wants, and aspirations of Black women. The median income of survey respondents was $60,000. The study goes beyond basic financial characteristics to look at the role of cultural beliefs, racial identities, and linked fate in financial decision-making. By combining quantitative and qualitative methods, the study creates a holistic picture of Black women as financial consumers and decision-makers. 

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.

Announced at the 15th annual Conference for African American Financial Professionals (CAAFP), this significant gift is one of the first The College received in support and celebration of our commitment to close the racial wealth gap with lasting, collective, community-focused solutions. For its leadership, the Pacific Life Foundation will be recognized as a Founder’s Circle donor. 

“The critical support of the Pacific Life Foundation and other industry leaders will allow the Center for Economic Empowerment and Equality to collaborate with those seeking to change our history’s narrative around economic equity,” said George Nichols III, president and CEO of The American College of Financial Services. “We are tremendously grateful to the Pacific Life Foundation for this generous investment toward measurable impact in our collective efforts to partner with underserved communities and promote economic justice.” 

This important seed grant from the Pacific Life Foundation will help with the expansion of the Center’s Four Steps Forward initiative and programs to reach underserved communities and increase their opportunities for economic mobility. The funding will help the Center educate and empower Black financial professionals as they start and grow their careers. The Pacific Life Foundation’s commitment will help to expand the Center’s financial education programs for Black women, bolster the Center’s scholarship programs for Historic Black Colleges and Universities (HBCUs) and early-career financial professionals, and implement a new approach to study groups for Black financial professionals. 

“Addressing the racial wealth gap and creating economic mobility starts with uplifting underserved communities and committing to lasting community-focused solutions,” said Jim Morris, chairman, president and CEO, Pacific Life and chairman of the Pacific Life Foundation. “The education and empowerment of Black financial professionals and the Black community is of paramount importance to the financial services industry’s future and growth. We’re proud to partner with the American College Center for Economic Empowerment and Equality in support of its efforts as it writes a new narrative around economic equity." 

Pacific Life and the Pacific Life Foundation are committed to ensuring an inclusive workplace and strengthening the communities where its employees live and work. The Pacific Life Foundation has a long history of focusing its giving on uplifting communities and investing in programs and organizations whose specific mission is to empower and provide stability to underrepresented individuals and families, with more than $2 million in annual funding and support toward these efforts. 

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 PACIFIC LIFE AND THE PACIFIC LIFE FOUNDATION 

For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients and has been named one of the 2021 World’s Most Ethical Companies® by the Ethisphere Institute. For additional company information, including current financial strength ratings, visit PacificLife.com. 

The Pacific Life Foundation (the Foundation) was established in 1984. Together with Pacific Life, the Foundation has contributed $131 million to community and national nonprofit organizations. Grants are made to organizations that address a broad spectrum of social needs. 

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2021 is compiled by Pacific Life using the 2021 FORTUNE 500® list.

The two executives are joined by new Board members Dr. Wallace Boston, Lt. Gen. Michelle D. Johnson (USAF-ret), Cheri Lytle, and Kristi Martin Rodriguez who collectively bring decades of financial services and leadership experience, and their expertise will support The College as a trusted source of applied financial knowledge and education. 

“I’m excited to welcome our new Board members and celebrate the developing roles of our new chair and vice chair who will continue to guide The American College of Financial Services on our mission to be a trusted voice in a world that needs it now more than ever,” says George Nichols III, President and CEO at The American College of Financial Services. “As we embark into a new year, the leadership of distinguished professionals like John and Salene will help us in our goal to provide applied financial knowledge and education to everyone who needs it. We are committed to helping the people of our nation lead lives of financial wellness, supported by financial professionals with the expertise to lead them.” 

John Howard is chairman and chief executive officer of Truist Insurance Holdings. He also serves as chief insurance officer for Truist Financial Corporation and is a member of the Truist Executive Leadership team. An alumnus of Columbia University and Duke University and a U.S. Navy veteran, his three decades of financial services experience began at Alex. Brown & Sons, followed by positions of increasing responsibility at GE Capital. He later served as president of retirement services for Conseco and, following that, president of Prudential Select Brokerage. 

Howard joined Truist predecessor BB&T in 2012 through the acquisition of Crump Group where he was president and chief executive officer. In 2007, he merged Crump with the insurance and retirement divisions of the BISYS Group, where he was president of insurance services. 

Howard currently serves as executive sponsor of the SERVE (Supporting Emergency Responders & Veterans Engagement) Business Resource Group at Truist. He is vice-chairman of The Institutes; chairman of advocacy for The Council of Insurance Agents and Brokers; and an overseer of the Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science at St. John’s University. Additionally, he is a prior chairman of the Board of Trustees of Gill St. Bernard’s School and a recipient of the Hall of Fame Award from the Tri-County Scholarship Fund. 

“It’s an honor to lead the Board of The American College of Financial Services in fulfilling its commitment to student success, providing relevant course material, and discovering new solutions for financial security,” Howard says. “The College delivers the highest quality education to the professionals entrusted with the public’s financial well-being, and I’m proud to be a part of this institution.” 

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 represents Prudential as a director on the Women Presidents’ Organization Advisory Board, serves on the Board of Trustees of The American College of Financial Services, 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. 

Dr. Wallace E. Boston was appointed President and Chief Executive Officer of American Public University System (APUS) and its parent company, American Public Education, Inc. (APEI) in July 2004. In September 2019, he retired as CEO of APEI, and he retired as APUS President in August 2020. During his tenure as president, APUS grew to over 85,000 students, 200 degree and certificate programs, and approximately 100,000 alumni. In his career prior to APEI, and APUS, Dr. Boston served as either CFO, COO, or CEO of Meridian Healthcare, Manor Healthcare, Neighborcare Pharmacies, and Sun Healthcare Group. Dr. Boston is a Certified Public Accountant, Certified Management Accountant, and Chartered Global Management Accountant. He earned an A.B. degree in History from Duke University, an MBA in Marketing and Accounting from Tulane University’s Freeman School of Business Administration, and a Doctorate in Higher Education Management from the University of Pennsylvania’s Graduate School of Education. 

Lt. Gen. Michelle D. Johnson (USAF-ret) is a transformational leader with over 30 years of success leading complex organizations on a national and global stage. Most recently, she served as senior vice president and head of referee operations for the National Basketball Association. She served with distinction in various assignments during her three decades in the U.S. Air Force and is the first woman cadet wing commander to lead the U. S. Air Force Academy as the 19th superintendent—equivalent to a college president. Before becoming superintendent, Johnson spent time as NATO’s Deputy Chief of Staff for Operations and Intelligence (2011-13) and served stints at the Pentagon as the Air Force’s Deputy Director for Information and Cyberspace Policy (2007-09) and Director of Public Affairs (2005-07). A command pilot with more than 3,600 flight hours, she was the Air Force aide to Presidents George H.W. Bush and Bill Clinton from 1992-94. She was the Air Force’s first woman cadet wing commander, first female Rhodes Scholar (1981-83) and first female inductee into the coSIDA Academic All-America Hall of Fame (2007). 

Cheri Lytle is managing director and head of practice management delivery and advisor development at J.P. Morgan Wealth Management, responsible for delivering practice management tools, resources, and training to over 5,000 advisors across the J.P. Morgan Wealth Management business. She holds a national role coaching and upskilling in business development, business management, financial planning, investments, and client relationship management and service. Previously, Lytle served as Managing Director, Head of Financial Advisor Strategy and Development at Bank of America, Merrill Lynch. A graduate of West Virginia University, Lytle brings nearly 20 years of experience in the finance industry with demonstrated success implementing high-impact initiatives, improving advisor practices and leading mass organizations and cultural changes. 

Kristi Martin Rodriguez is senior vice president of the Nationwide Retirement Institute (NRI) where she reports directly to the Nationwide Financial President and COO. She advises executive leadership to successfully expand service offerings, accelerate business growth and align strategic objectives with key organizational goals. Over her 20+ years of experience, Rodriguez has held various positions in the highly regulated healthcare and financial services industries, spending seven years with Nationwide and previously holding roles with Aetna and UnitedHealth Group. She is a graduate of Hampton University and holds a certification in Consumer Marketing from Northwestern University’s Kellogg School of Management Executive Education. 

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.