2023 Clambake and Soldier-Citizen Award Honors Service Members and Veterans
![Clambake event photo](/sites/default/files/inline-images/cb15-2023clambakeandsoldiercitizenawardhonorsservicemembersandveterans.jpeg)
The Clambake is the signature event of the American College Center for Military and Veterans Affairs. Along with its Founding Partner and Sponsor, Penn Mutual, the Center for Military and Veterans Affairs aims to support service members, veterans, and spouses in transition to civilian employment. The annual Clambake is the centerpiece of this effort, and as always, it proved to be an evening to remember.
Honoring Our Heroes
The 2023 Clambake was held at the National Constitution Center in Philadelphia, Pennsylvania: a stone’s throw from The College’s headquarters and a perfect venue for a celebration of service and sacrifice in our nation’s proudest tradition. With flags hanging overhead in the grand upstairs gallery, surrounded by full-length windows looking out on Independence Mall and by the words of the Constitution of the United States emblazoned on the walls, the location lent even more gravitas to an event already overflowing with it.
After a cocktail hour in which leaders from The College, the financial services industry, and the military mixed and mingled, the evening’s program began with Jim Roy, PMP®, CMSAF (Ret.) Executive Director of the Center for Military and Veterans Affairs, welcoming the crowd and opening the Clambake with the National Anthem. John Bernesky, an officer of the Pennsylvania State Police Bureau of Liquor Control Enforcement, sang the anthem, accompanied on the stage by a color guard of Reserve Officer Training Corps team members from local colleges, and received a rousing ovation.
Following the anthem, Center Director Phil Easton, CMSGT, USAF (Ret.) presided over another Clambake tradition: the Prisoner of War/Missing in Action tribute. ROTC team members assisted with the ceremony of setting an empty dinner table, featuring many symbolic objects, as a representation of prisoners of war and missing-in-action service members and honoring the memory of those who never came home–a number, as Easton pointed out, that includes 82,000 American soldiers in the last century.
Furthering the Mission
After the tribute, Roy returned to the stage to thank the event’s sponsors and supporters, as well as deliver an update on the Center for Military and Veterans Affairs’ many initiatives to assist service members, veterans, and spouses through financial knowledge and education. The list of accomplishments included a major realignment of the Center’s scholarship program for those in transition to civilian employment and a partnership with The College’s Career Services team to focus on resources for service members, veterans, and spouses–including a Career Pathways Guide outlining how the financial services industry can be an ideal environment for such individuals to grow professionally and carry on their commitment to serving others.
One of the biggest announcements of the evening was Roy’s introduction of the Center’s partnering with First Command Educational Foundation and their Take Command e-learning program. Similar to The College’s consumer financial education program Know Yourself, Grow Your Wealth, Take Command is focused on providing former military service members essential financial financial readiness tools to improve their post-service lives.
Dr. Tracey Jones, head of the Center’s advisory board, then took the stage as the Clambake’s official emcee. With her signature style, Dr. Jones introduced several guests of honor for the evening: military scholars who have benefitted from the Center and The College’s efforts to provide education to transitioning service members, veterans, and spouses. Several of the military scholars spoke to their experiences via video or at the mic, thanking both entities and everyone present for their generosity and support.
Recognizing a Living Legend
Of course, the Clambake wouldn’t be complete without the yearly presentation of The College’s Soldier-Citizen Award. Given to individuals who have made exceptional contributions both to the defense of our nation and to the financial services industry, the Soldier-Citizen Award is the Center for Military and Veterans Affairs’ highest honor. Past recipients have included such pivotal figures in our country’s military as General Lester Lyles, USAF (Ret.), Admiral Thomas Fargo, USN (Ret.), and General David Petraeus, USA (Ret.).
Inducted into the pantheon of Soldier-Citizen Award recipients this year was another legendary figure: Admiral Michael Mullen, USN (Ret.). Most notably, Admiral Mullen served as Chairman of the Joint Chiefs of Staff, the highest position in the US military, from 2007 to 2011 under Presidents George W. Bush and Barack Obama. While in this position, Admiral Mullen spearheaded the elimination of the controversial “Don’t Ask, Don’t Tell” policy instituted in 1994 to curtail debate about LGBTQIA+ individuals serving in the military. Under Admiral Mullen’s leadership, the US military threw its doors wide and committed to openly accepting the service of those from all backgrounds and orientations. He also presided over the military during a tremendous time of change both domestically and globally.
True to form, many of Admiral Mullen’s contemporaries and fellow military members spoke of him as a man of character and integrity above all else. From guest speaker CAPT Karin Vernazza, USN, to the numerous military members who offered congratualtions to Admiral Mullen via video, all identified him as a principled leader who put others before himself and who is unflinchingly committed to doing the right thing. Admiral Mullen accepted the award, a bust of warrior-philosopher Pericles, along with Roy and George Nichols III, CAP®, President and CEO of The College, and humbly thanked everyone present for the honor.
As is tradition, President Nichols closed the Clambake evening by recognizing the team from The College’s Center for Military and Veterans Affairs for all the work they do in serving those who have served us. He also identified the military, service members, and veterans as a key demographic for the financial services industry to mine for the future leaders and advisors of tomorrow.
The College Wins Wealthies Award for RIA Survey
![The College team at the 2023 Wealthie awards ceremony](/sites/default/files/inline-images/cb15-wealthieswin2023.jpg)
The College was nominated for multiple awards, including their survey analyzing how Registered Investment Advisor (RIA) firms and their independent advisors think about growth, prioritization to scale, and specialized knowledge. In this survey, The College found that over 75% of RIAs valued education beyond the CFP®. To find out more about what type of education they’re seeking, read the results of the survey here! A study conducted by the Cary M. Maguire Center for Ethics in Financial Services that gathered insights from nearly 2,000 consumers about their beliefs and behaviors regarding the financial services industry, was also nominated. And for the second straight year, WealthManagement.com named The College as the recipient of their Wealthie award for industry research, recognizing The College’s survey on RIA growth and specialized knowledge as the top submission in this category.
The College’s president, George Nichols III, CAP®, described this as an “opportunity to amplify our value, expertise, and initiatives focused on shaping the future of financial services.” Nichols’ message embodies the goal of The College’s RIA Resource Center and the survey piece looking at RIA growth and the value of specialized knowledge. This study seeks to grant independent advisors the specialized knowledge they need to grow and scale their business in order to compete with larger firms.
About the RIA Resource Center
The RIA Resource Center’s main function is to help emerging RIAs grow their practice. This is accomplished through three different parts that make up the entirety of the RIA Research Center: the profitability plan, the research survey, and the RIA Stories webinar and video series. RIAs can utilize these resources to gain insights on practice building, service specialization, and potential growth areas from the latest research and field leaders.
The profitability plan is a guideline that allows RIAs to maximize their profit and growth. From providing insights on market trends to assisting in the identification of specialty programs, the RIA profitability plan serves as an opportunity for RIA firms to focus on developing an integrated planning approach through specialized, applied knowledge.
The goal of the research survey is to provide RIAs with information on specialized education and explain the benefits of this type of education using the testimonies of other growing RIAs as examples to validate these points. For this survey, The College surveyed nearly 400 independent advisors who weighed in on their path to growth. Their responses provided critical insights into the state of the industry, the pressures they face from changing client demands, and the solutions they’ve identified to increase earnings and grow their teams.
The RIA stories webinar and video series allows visitors to the RIA Resource Center to view how The College and its designations benefit members of the financial industry, providing them with specialized knowledge that allows them to better serve the needs of clients and deliver the type of financial advice that best suits their specific needs. Through these video testimonials, The College hopes to assist more RIAs in discovering how the right education can offer a path to real differentiation and sustained success.
The common theme across all of these areas is assisting RIAs in growing their practice, scaling that growth, and competing with larger firms. Specialization in an emerging RIA firm can allow for a diverse, expert team of financial advisors that can serve a wide array of clients and provide them with the financial advice that best suits their unique financial situations.
How the Survey Assists RIAs
In the survey, The College asked nearly 400 independent advisors a variety of questions pertaining to growth and their opinions on specialized knowledge as an emerging RIA. When analyzing the results of this survey, The College found that growth was a top priority for many RIAs as they sought to obtain a larger market share through recruitment and business planning. They also valued professional designation programs as effective methods of improving their skills as financial planners and felt these programs were critical to the development of those skills and the skills of their team members.
Ultimately, the survey concluded that RIAs believe that “specialization will help them become more efficient, more client-centric, and more profitable.” The College and the RIA Resource Center aim to provide RIAs seeking to grow with solutions that will allow them to take advantage of these opportunities and grow into industry leaders with the goal of benefiting more Americans and changing more lives.
The College Secures Another Prestigious Award for RIA Firm Outreach
![Two attendees from the award event](/sites/default/files/inline-images/cb15-gramercyriasurveyaward2023.jpg)
While The College is no stranger to recognition in the financial services industry, the Gramercy Institute 2023 Financial Content Marketing Awards marked the first time a piece of its marketing content was singled out and recognized for a content award. The announcement came shortly before The College also took home an award for Industry Research Provider from the 2023 WealthManagement.com Wealthies Awards–the second in two years–for the very content piece honored by the Gramercy Institute.
Specifically, the Institute recognized The College’s efforts to reach out to independent financial advisors through its 2022 RIA Growth and Specialized Knowledge Survey, a part of The College’s RIA Resource Center. Through the survey, The College reached out to nearly 400 financial advisors who weighed in on their paths toward growth and provided invaluable insights into the state of the financial services industry, the pressures they face from changing client demands, and the solutions they’ve leveraged to increase earnings and grow their teams.
A Helping Hand to Independent Financial Advisors
In 2021, as part of a broad refocusing on education for specific segments of the financial services industry, The College undertook an effort to reach out to independent advisors and RIAs to understand the challenges they faced in competing with larger industry firms and the secrets to success that allowed them to grow and scale in a difficult environment. Initial conversations suggested a key component to success for independent financial advisors and their firms: in-depth, specialized knowledge of niche but critical components of financial planning.
These findings led to the launch of The College’s RIA Profitability Plan: a document pointing out the benefits of a specialized team of independent advisors, all working in concert, to keep financial advisors’ clients in-house and minimize the need for outside referrals. As financial industry research often shows clients prefer working with smaller advisory firms to large conglomerates, RIAs are in a unique position to customize their teams with financial advisors well-versed in specific areas of planning, from retirement and wealth management to insurance, taxation, special needs planning, and more. Additionally, as an institution with nearly 100 years of leading the financial services industry, The College is well-positioned to offer education in such areas with its acclaimed designation and degree programs, such as the Retirement Income Certified Professional® (RICP®), Wealth Management Certified Professional® (WMCP®), Chartered Life Underwriter® (CLU®), Chartered Special Needs Consultant® (ChSNC®), and others.
Taking the Pulse of the RIA Community
To further the impact of the RIA Profitability Plan, however, The College also needed real-time data from independent financial advisors on what the biggest challenges, obstacles, and questions were that they faced every day. In early 2022, The College began the RIA Growth and Specialized Knowledge Survey to get just those answers.
Over the course of several months, responses flooded in–and what was revealed was illuminating. Independent advisors reported that business growth was foremost on their minds, with 35% of respondents saying organic growth was their firm’s top priority and 64% saying they planned to add up to five new financial advisors to their team in the next three years. Independent financial advisors also largely recognized the importance of advanced financial services education, with over 75% saying the well-known CFP® certification was not enough to guarantee professional success alone.
Furthermore, independent financial advisors confirmed The College’s offerings as a financial educator were well in line with the areas they sought further instruction in: 71% desired more education in retirement planning; 64% in investment management; and 60% in estate planning. These focus areas align with multiple College designation and degree programs, including the aforementioned RICP® and the Chartered Financial Consultant® (ChFC®).
Perhaps most importantly, RIAs confirmed The College’s approach to specialized knowledge as the key to business growth and scaling, with nearly 80% of respondents reporting knowledge from designation programs supported service integration, improving their ability to hold onto clients with diverse needs. They also cited advanced financial education as a critical factor in their success, ranking it above even new technology as a top priority for independent financial advisors.
Iterating on RIA Success
Throughout 2022 and into 2023, The College has continued to build on the knowledge gathered from the response to the RIA Growth and Specialized Knowledge Survey with additional campaigns and content pieces. These include an “RIA Stories” video series in which independent financial advisors share how The College’s designation and degree programs have directly impacted their ability to serve clients better. Many RIAs shared similar experiences of how satisfying it was, when confronted by a client whose questions they didn’t feel qualified to answer, to simply send them down the hall to a colleague who specialized in their area of need rather than calling for an outside referral and potentially losing business.
The College also held an RIA-focused webinar in which WMCP® Program Director Michael Finke, PhD, CFP® spoke with a group of independent financial advisors about how they equipped their practices to adequately respond to clients’ needs in any market environment.
With one of its cornerstone initiatives now recognized by not one, but two prestigious marketing awards in a single year, The College plans to continue its drive to educate and empower RIAs and independent financial advisors in the years to come. The College also extends its thanks to the Gramercy Institute for their consideration!
Sandy Herzlich Tapped to Lead Retirement Strategy at The American College of Financial Services
KING OF PRUSSIA, PA – September 21, 2023 – As The American College of Financial Services begins to operationalize its centennial strategy, President and CEO George Nichols III, CAP®, announced the addition of Sandy Herzlich as Vice President, Retirement Strategy. Leading retirement planning knowledge and education for financial professionals is one of The College’s recently unveiled strategic focus areas that will center the 96-year-old institution’s initiatives and impact leading into its 100th anniversary in 2027.
Herzlich’s appointment adds a near-30-year industry veteran in a key role to develop and operationalize a comprehensive plan to educate financial professionals and consumers on the foundational and specialized concepts needed to improve retirement outcomes for more Americans.
“Sandy’s distinguished career is one of business accomplishments, but more importantly, client success,” said Nichols. “As a financial consultant and business development leader, he understands how financial advisors position themselves for growth. And as a firm partner and managing director, he understands the business of financial services and how professionals can best serve the holistic retirement needs of their clients.”
Herzlich has worked for several nationally-known financial institutions – Merrill Lynch and Vanguard – but he made his mark at Pitcairn, a $7B+ multi-family office based in Jenkintown, Pennsylvania. Over his 18 years at the firm, he ultimately led the entire 19-person relationship management and client support team responsible for 24 ultra-high-net-worth families. These responsibilities included managing liquidity events, business succession, in-depth estate, retirement and tax plans, and the complexities unique to families of significant wealth.
Starting from September 18, Herzlich reports to Jared Trexler, Senior Vice President, Chief Marketing and Strategy Officer.
“Sandy has worked directly with families of various wealth and complexity to shape the trajectory of their financial futures. He understands the central arch retirement plays across an individual’s financial life and that it doesn’t begin at a certain age or asset threshold,” Trexler said. “He’s seen what works - but perhaps more importantly, what hasn’t. That institutional knowledge, married with his experience accelerating growth, is the skill set we’re looking for to make a significant impact to benefit society.”
At Vanguard, Herzlich was responsible for sourcing, qualifying, and building the high-net-worth client base for discretionary asset management services and trustee business. He also spent four years as a partner at a Registered Investment Advisor in Berwyn, Pennsylvania and another three years at Merrill Lynch.
“Preparing for, planning and implementing a successful retirement strategy is a key financial objective for most Americans, regardless of wealth. I’m excited to join The American College of Financial Services in building the preeminent resource for comprehensive retirement planning and execution for both advisors and consumers,” said Herzlich. “The College’s nearly century-long history of providing unbiased, non-product driven education makes it the ideal platform for delivering holistic retirement planning to produce better individual outcomes.”
Prior to his career in financial services, Herzlich’s professional leadership began in the consumer-packaged goods industry. He joined Procter & Gamble out of college and joined Ralston Purina in 1988. He eventually led sales, localized marketing, logistics, operations, personnel and training for a 100+ employee unit amassing $500 million in annual revenue.
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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
Carol Prushan Appointed Senior Vice President, Advancement and Alumni Relations at The American College of Financial Services
KING OF PRUSSIA, PA – September 21, 2023 – The American College of Financial Services is excited to announce Carol Parlin Prushan as Senior Vice President, Advancement and Alumni Relations. Working closely with The College’s Executive Leadership team, Prushan will shape the advancement strategy of The College as the institution moves into its next 100 years.
Building meaningful relationships across constituent groups is a major aim of The College as it forges the path toward its Centennial in 2027, connections that will be the cornerstone of its future. The College’s network of corporate partners, individual donors, alumni and professional organizations are just a few of the groups that make up the core supporters of its strategic initiatives. Prushan will be key in nurturing those relationships and continuing to build meaningful pathways.
As SVP of Advancement and Alumni Relations, Prushan will be a member of The College’s Executive Leadership Team. Starting from September 18, Prushan will report directly to President and CEO George Nichols III, CAP®.
Prushan will direct the integration of annual College-wide fundraising efforts and lead an alumni relations program that fosters connectivity with The College’s mission and provides opportunities for deeper networking and idea sharing to support the profession’s growth.
“Carol is a highly trusted, respected, and valued leader with excellent judgement and unwavering integrity,” said Nichols. “We look forward to the renewed energy and vision she will bring to The College’s fundraising and networking strategy as we bring forth our refreshed brand and strategic areas of focus to all our constituents and build new pathways.”
Prushan comes to The College with over 30 years’ experience as an advancement professional, serving vulnerable communities and impacting social change. She has expertise in fundraising, Board relations, leadership, cultural transformation, revenue expansion and optimization, community engagement, and strategic planning and event management.
“I look forward to working with my colleagues at The College to help solidify its future as a leader in financial services education,” said Prushan. “This is an exciting time to be a part of this storied institution, working with our community of stakeholders to shape the next century of the industry and its professionals.”
Most recently, Prushan served as Vice President and Chief Development Officer at Einstein Healthcare Network, an independent academic medical center primarily serving the poorest community in Philadelphia. At Einstein Healthcare Network, Carol was instrumental in The Einstein Campaign raising $167M, exceeding the initial goal of $100M, and grew their annual campaign from $3M to $10M.
Prushan graduated from Syracuse University with a Bachelor of Science in Marketing and Management Information Systems. She contributes to and participates in many organizations such as the Forum of Executive Woman, Healthcare Businesswomen’s Association, Delta Phi Epsilon Sorority, and the Jewish Federation of Greater Philadelphia.
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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 the FinServe Network with an Inaugural Class of Ambassadors from Across the Industry
![Finserve network members](/sites/default/files/inline-images/cb15-pr-finservenetworklaunch.jpg)
KING OF PRUSSIA, PA – September 12, 2023 – The American College of Financial Services is proud to announce the launch of the FinServe Network, a remarkable cross-section of leaders and rising stars in financial services, including College alumni and dedicated volunteers who represent the uniqueness and diverse landscape of the profession.
“We are honored to have these ambassadors join the inaugural FinServe Network class and partner with The College to reach our bold strategic vision to better serve financial professionals and society for the next 100 years,” said George Nichols III, CAP®, President and CEO of The American College of Financial Services. “Through valuable connections and the networks derived from those relationships, we are advancing the conversation around what the financial services profession should truly be. We couldn't be prouder to collaborate with these leaders and look forward to working together to help redefine the future of financial services.”
The FinServe Network serves as a valuable resource for The College, advocating on behalf of its vast alumni network, providing unique perspectives and expertise on industry trends, and sharing a collective passion for lifelong learning. FinServe ambassadors will provide a behind-the-scenes preview into the innovative ways The College is growing with the intent of sparking ideas to put forward in their own careers. Issues such as training, retention, career development, access to financial services and practice management are all topics that were workshopped during the FinServe Network’s first in-person gathering in Spring 2023, and these conversations will continue as The College identifies additional areas to best serve its alumni in their career paths.
“The opportunity to be involved in shaping the programs and offerings of The College to truly impact our colleagues and future professionals is extremely inspiring,” said FinServe ambassador Heather Welsh, CFP®, AEP®, MSFS, Vice President, Wealth Planning Department Leader, Sequoia Financial Group. “The exchange of ideas with other College alumni has always been so valuable to me and formalizing this forum opens so many opportunities to meaningfully impact the industry. Financial services and financial education is for everyone.”
The ambassadors are also highly committed to working with The College to create content to inspire and engage in guided conversation on The College’s new website, across social media, and at industry events.
“I’m honored to go beyond broker/dealer affiliations and join a group of financial planning and wealth management leaders chosen by The American College of Financial Services,” said FinServe ambassador Padric Scott, WMCP®, ChFC®, CLU®, CAP®, AEP®, CFP®, CCFC, President and CEO, Crossroad Capital Partners. “This noble profession is constantly evolving, and it is exciting to be at the forefront of that conversation. Our goal as FinServe ambassadors is to continue to expand the opportunities offered through our connection with The College and foster sustained growth through those connections that will hopefully open new avenues for access.”
Meet the FinServe Network ambassadors partnering with The College to benefit society at TheAmericanCollege.edu/FinServeNetwork.
Inaugural FinServe Network Ambassadors:
- Jason Austell, CFP®, MSFS, ChFC®, CLU®, RICP®, AEP®, CAP®, CASL®, MassMutual
- Nancy Du, MBA, RICP®, CFP®, Ashford Advisors
- Mary Fischer-Nassib, CAP®, Sow Good Now
- Drew Gerling, MSFS, ChFC®, CLU®, CAP®, RICP®, CFP®, Thrivent
- Centario J. Grier, J&G Legacy Financial Group
- Terry Parham, Jr., CFP®, ChFC®, CLU®, RICP®, WMCP®, Innovative Wealth Building
- Richard Peck, CFP®, ChFC®, CAP®, Richard C. Peck Consulting, LLC
- Alanah Phillips, Break Up With Your Broker-Dealer, Advisor Launch Pad
- Angela Ribuffo, CFP®, RICP®, ChFC®, WMCP®, CDFA®, CLTC®, Raion Financial Strategies, LLC
- Irv Rosenzweig, ChFC®, CLU®, AEP®, CFP®, Diversified, LLC
- Padric Scott, WMCP®, ChFC®, CLU®, CAP®, AEP®, CFP®, CCFC, Crossroad Capital Partners
- Andrew Tudor, CFP®, CAP®, RICP®, Alchemist Wealth
- Heather Welsh, CFP®, AEP®, MSFS, Sequoia Financial Group
- Fatima T. Williams, FSCP®, New York Life Insurance Company, LLC
- Marco Williams, CFP®, J.P. Morgan
- Scott A. Winslow, MSFS, ChFC®, CLU®, RICP®, AEP®, CCFC, Nabell Winslow Investments & Wealth Management
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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.
Contacts:
Sarah Tremallo
908-967-0381 / stremallo@jconnelly.com
Lindsey Allumbaugh
678-643-1310 / lindsey.allumbaugh@theamericancollege.edu
The American College of Financial Services to Host 9th Annual Clambake & Soldier-Citizen Award Ceremony Empowering Those Who Serve
![2023 Clambake](/sites/default/files/styles/default_style/public/2023-09/cb15-pr-clambake2023.jpeg?itok=MvDjdw_9)
KING OF PRUSSIA, PA – September 7, 2023 – The Annual Clambake & Soldier-Citizen Award Ceremony, hosted by The American College of Financial Services and the American College Center for Military and Veterans Affairs, and supported by the Center’s founding sponsor and partner, Penn Mutual, will take place September 21, 2023, at the National Constitution Center in Philadelphia, Pennsylvania. The event, which is celebrating its ninth year, transforms the lives of active-duty, guard, reserve members, veterans, and their spouses by raising money for full scholarships for professional designations and degree programs offered by The College.
“We’ve been here for military families for over 10 years, with roots that go much deeper, offering life-changing career transition support and opportunities for those who have honorably served in the Armed Forces," said Jim Roy, #16 CMSAF, USAF (Ret.), Executive Director of the Center for Military and Veterans Affairs. "We couldn’t do the work we do without the impactful donations of partners, organizations and individuals. This event is a celebration of that support and an opportunity to honor those who serve.”
The event features a patriotic, informative, and moving program, highlighting the work of the Center and the promise of the veterans and service members it serves. The cornerstone of the Clambake is The American College Soldier-Citizen Award, established in 2014 to recognize individuals in the financial services industry who have made significant contributions to the United States military, their community, and our society. The award aims to celebrate sacrifice, success, and service. The 2023 Soldier Citizen Award Recipient is Admiral Michael G. Mullen, USN (Ret.)
“Admiral Mike Mullen truly exemplifies the values of a soldier and a citizen. As a soldier, he has given over 40 years of military service to our nation at the highest levels of leadership,” said John M. Howard, Chairperson of the Board of Trustees of The American College of Financial Services. “As a citizen, he has done significant work in the financial services industry, held numerous board positions with for-profit and nonprofit organizations, taught national security decision-making policy, ethics, and leadership, and has received many distinguished awards. Much of his work with non-profit organizations is related to assisting military veterans and their families. It was an honor to nominate Admiral Mullen for this award in recognition of his sacrifice, success, and service.”
Admiral Mullen is President of MGM Consulting, which counsels global clients on related issues to geo-political developments, national security interests, and strategic leadership. He served as the 28th Chief of Naval Operations from 2005–2007 and the 17th Chairman of the U.S. Joint Chiefs of Staff for Presidents Bush and Obama from 2007 to 2011. He led the military during a critical time of change and transition. Admiral Mullen advanced the rapid fielding of innovative technologies, championed emerging and enduring global partnerships, and promoted new methods for countering terrorism. After his retirement from the United States Navy in November 2011 after 43 years of honorable service, Admiral Mullen joined the corporate boards of General Motors from 2013–2018 and Sprint from 2013–2019. He serves on numerous boards, including Bloomberg Philanthropies, Naval Academy Foundation, Naval Postgraduate School Foundation, and a wide array of nonprofit organizations dedicated to improving the growth, development, recovery, and transition of military veterans and their families.
This year’s Clambake will be emceed by Tracey C. Jones, MBA, PhD, Center Advisory Council Chair, author, speaker, veteran, publisher, podcaster, and international leadership expert, who currently serves as president of Tremendous Leadership and T3 Solutions. The Center for Military and Veterans Affairs has experienced robust growth since its launch in 2012 thanks to generous support from corporate and private donors, and many members of the military community. The annual Clambake & Soldier-Citizen Award Ceremony continues to generate professional interest and garner financial support for the important mission of the Center.
The following morning, on September 22, 2023, the Military Center will host a Leadership Symposium, "Bridging the Gap in an Ever-Changing World", that includes a panel of distinguished leaders from academics, business, and the military. The panel will be followed by the annual Maury Stewart Lecture, supported by Center Founding Partner and Sponsor Penn Mutual Life Insurance Company. The lecture, which engages the most notable individuals from diverse disciplines to address themes and issues critical to leadership development in the financial services profession, will be delivered by marquee speaker Colonel Nicole Malachowski, USAF (Ret.) on the subject Harnessing Headwinds: Successfully Navigating Change & Adversity. She is a combat veteran and the first woman pilot on the Thunderbirds Air Demonstration Squadron.
Join the Center’s work to empower those who serve with the gift of knowledge, education, and career transition opportunities. Make your gift today at TheAmericanCollege.edu/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.
Contacts:
Sarah Tremallo
908-967-0381 / stremallo@jconnelly.com
Lindsey Allumbaugh
678-643-1310 / lindsey.allumbaugh@theamericancollege.edu
The American College of Financial Services Appoints Joe Bergan and Ellen Rinaldi to Board of Trustees
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Joe Bergan, the Principal responsible for Professional Development Elective Training at Edward Jones, and Ellen Rinaldi — who served as the Chief Security Officer and Chief Information Security Officer at Vanguard — will bring their array of insights to the Board. Bergan and Rinaldi possess decades of financial services leadership experience that aligns with The College’s mission to benefit society and vision to accelerate impact leading into its centennial celebration in 2027.
“Joe and Ellen have been standout leaders within their respective financial fields, and we are pleased to welcome them to The American College of Financial Services Board of Trustees,” says George Nichols III, President, and CEO at The American College of Financial Services. “They bring decades of senior leadership and unique skills in client-facing, home office, and information technology roles to their governance responsibilities. Their guidance will be invaluable.”
Bergan spearheads the Professional Development Elective Training initiative for Edward Jones’ Branch Development division. He began his tenure at Edward Jones in 1998 as a Financial Advisor in Sunset Hills, Missouri, and built his career on fostering meaningful personal and financial relationships with clients through advanced development and designations. These efforts led to him being recognized as a top financial advisor within his region, and he would later share his success with others by serving in several leadership roles. This included a stint as a regional leader, which he held from 2008 until November 2013. Bergan has since relocated to the firm’s St. Louis headquarters, where he has held his current responsibilities since October 2021. He is a graduate of the University of Pennsylvania Wharton School’s Securities Industry Institute and earned a degree in business administration from the University of Notre Dame.
“As I’ve grown with Edward Jones, I’ve made a commitment to uplifting others within the financial services industry, which is why I am honored to support other financial professionals through my work with The American College of Financial Services Board of Trustees,” Bergan says. “I am excited to share the skills I’ve developed over the course of my career within the profession’s leading academic institution.”
Rinaldi served as an expert in cyber risk management for Vanguard, a $6 trillion-plus financial services organization. She created a comprehensive, integrated global security function that successfully protected more than 22 million institutional and retail shareholders’ assets as well as sensitive corporate data and business and technical infrastructure. Rinaldi has more than twenty years of leadership experience and served as the first Chair of the Chief Information Security Officer Advisory Committee of the Investment Company Institute (ICI) for four years until her retirement in January 2019.
“In an age where technology is at the forefront of business, it is paramount that the appropriate security measures are taken to mitigate cyber risks and ensure trusted, secure financial exchanges,” Rinaldi says. “I am honored to share my experience with the Board of The American College of Financial Services. This institution delivers the high-quality education necessary for future financial leaders to innovate and thrive, and I am excited to be aiding them on their path toward success.”
Rinaldi received her B.A. from the University of Connecticut, her J.D. from Suffolk University Law School, and her L.L.M. in Taxation from Boston University Law School. She serves as a member of the Board of Penn National Insurance, a mutual regional casualty property company and sits on both the Finance and Audit Committees. She is also on the Board of Governors for Main Line Health, a not-for-profit health system with four of Philadelphia’s most respected acute care hospitals.
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 American College of Financial Services Partners with Guild to Support Working Adult Learners
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Guild partners with forward-thinking companies to invest in their employees, unlocking opportunities for personal and professional growth through education and learning programs, career development, and one-on-one coaching.
“The College’s applied financial knowledge and education has supported professional growth and success for nearly a century. We’re excited to work alongside Guild and innovative financial services organizations in service of those who fortify the financial security of all Americans,” said George Nichols III, The College’s President and Chief Executive Officer. “We look forward to educating these professionals and becoming their lifelong learning partner.”
Through this new partnership, employees at innovative employers including Regions Bank will now have employer-funded access to The College’s applied financial knowledge and education through some of the most recognized and reputable programs in the profession, allowing financial services professionals across the country to attend without the burden of student debt. As it grows in impact ahead of its centennial celebration in 2027, The College helps professionals accelerate through knowledge, grow through connections, and uplift through community.
“We are proud to announce the addition of The American College of Financial Services to Guild’s Learning Marketplace,” said Marty Martinez, Chief Partnerships Officer at Guild. “The College has a history of supporting financial services professionals, helping them realize their career goals through rigorous, practical education in their field. They are positioned to support employers across the sector as they invest in the career development of their employees and unlock in-demand career pathways across financial services.”
Current employees at U.S. based companies whose employer offers education programs are encouraged to contact their HR representatives to see if Guild and The College are an option for them.
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 GUILD
Guild’s Career Opportunity Platform™ enables forward-thinking employers to invest in their employees, unlocking life-changing opportunities for personal and professional growth through education and learning programs, career development, and one-on-one coaching. Guild partners with the nation’s largest employers — including Walmart, Chipotle, Discover, Hilton, Target, The Walt Disney Company, and healthcare systems like Providence Health and UCHealth — to create cultures of opportunity that will help them attract and retain top talent, and build the workforce of the future. Guild offers a marketplace of curated education and learning programs designed for the success of working adults. Layered onto that is support, guidance, and resources at every step to help ensure the new skills employees are building translate into career pathways that are in demand at their companies — all without paying for tuition or career services on their own. For more information, visit guild.com.
Behind the Blue Hues
The innovation of thought born in a University of Pennsylvania lecture hall back in 1904 remains the heartbeat of The American College of Financial Services’ mission today. After 96 years, our educational entrepreneurship has continued in lockstep with that mission; which in truncation and with emphasis, is all about how best to benefit society.
Rooted in that calling, the how has shifted in shape and speed with the profession and the needs of all Americans. Regulatory matters, political headwinds, macroeconomic climates, and kitchen table issues have all influenced the applied knowledge needed to meet, or even foretell, those times.
No organization remains a market leader for a near-century without a comfort in its own skin and a spirit of service that permeates everything it does. That doesn’t mean roses dot every decade, as ebb and flow occurs everywhere.
Yet, we wear our history as a badge of honor, an emblem of stability, and a marker of longevity. A long time since Dr. Huebner first stepped foot in a Wharton classroom, financial education remains both a predominant need in the profession and a prevalent gap in communities still underserved and unengaged from financial services.
As we set out to embrace Dr. Huebner’s mission, and to forward the future of financial services, we understand the opportunities in front of us. We have our beliefs on what the future of the profession looks like, the value advisors and agents provide, and how an empowered, educated public can meet these professionals – when they’re ready – to forge trusted relationships.
To meet this moment, we took a hard look at ourselves – our successes and shortcomings, our initiatives and impacts, our programs and the people we serve. We needed a strategic focus to match our desires, aligned with those unique opportunities ready-made for our leadership.
The College has grown significantly since George Nichols III became the 10th President and Chief Executive Officer in late 2018. Double-digit growth, new programs, impactful work to narrow the racial wealth gap, awards, accolades, and an accelerated strategy to achieve our 2027 centennial vision: to become the standard of excellence in providing applied financial knowledge and education through a platform that serves financial professionals, nonprofit and for-profit executive leaders, underserved communities, as well as consumers looking to improve their personal understanding and management of finances and wealth.
Not a Rebrand…
As a financial services marketer for over 15 years, I’ve heard “rebrand” to mean many things to many people. Name changes, a new sans-serif, greater use of that peach color everyone loves internally. As we embarked on our efforts to drive deeper impact and tell our story to more people in more places, we of course assessed our wrapper. How any organization presents itself to the world is important – and there’s an art and science to typography and color selection. We did those things – and I’m excited to show the world our work.
Reconstructing our digital experience from the ground up was equally essential. As the front-door to who we are and what we offer and stand for, a website is a primary agent for growth. The last 18 months, and a lot of heart and talent, went into the new, industry-leading (in my opinion) website set to launch at that same time.
We’re connecting the new visual brand and digital experience to a unique, internally-produced brand campaign titled, Your Life’s Work. To produce such a quality campaign with a what’s-in-it-for-me story arch is gratifying; even more so when it’s done almost exclusively by the people you work closely with each day.
All of that – the visual and digital identities and a brand campaign to drive greater professional awareness are important, but only as the vehicle and voice to a much bigger, more consequential pitch.
The American College of Financial Services is reshaping how it impacts the financial services profession and society with an ambitious set of goals and focus underpinned by a common belief…
More knowledgeable financial professionals and consumers help forge stronger financial partnerships, drive more scalable financial outcomes, and deliver more sustainable financial security for all Americans.
That’s both differentiated and steeped in Dr. Huebner and history.
So, not a rebrand. We’ll look different, perhaps sound different at times. And we’ll certainly be testing out new ideas in new places. But we’re still The American College of Financial Services.
…Instead the Reshaping of a Professional Bedrock
To outsize our impact, we assessed a promising foundation for the future. Starting with the Chartered Life Underwriter® (CLU®) Program back in 1927, The College has anchored to certifications and designations as markers of a professional, ethical commitment to client service. Designations and graduate studies will still serve as the springboard to lifelong learning.
We aim to elevate the profession’s expertise through specialized applied financial knowledge and education. Through specialized designations, degrees, certificates, and just-in-time learning options, The College seeks to equip a new era of specialists to boost the financial advice they give and increase consumers’ financial strength through more trusted relationships with financial professionals.
Research by Spectrem Group in 2021 identified a large gap between the services clients expect and what they receive from financial professionals. Financial planning, trust services, and advice on wealth transfer, estate planning, tax planning, long-term care insurance, life insurance, and more all fall grossly below clients’ expectations.
This advice movement is supported by the continued shift to a “teaming” framework within many financial services business models, where specialists provide integrated planning within a firm instead of outsourcing to third-party centers of influence. The College is well-suited to meet these needs with its existing portfolio of well-recognized, well-respected programs and an expanded network of potential offerings of various topics and modalities.
We also look at crystallized demographic trends. 12,000 Baby Boomers will retire in 2024 – the peak of the age 65 tsunami. In 2024, 15 million Americans will be 65 or older. And according to the Boston College Center for Retirement Research, as many as 50% of retired households are “at risk” of not having enough income to maintain their standard of living in retirement.
Yet, while Baby Boomers are a demographic group feeling a potentially urgent need for advisory services, retirement planning is far more holistic and spans an individual’s lifetime. Roughly 78% of Americans have $50,000 or less saved for retirement, while 89% of women receive a failing grade on financial literacy.
At the behest of individual complexities, questions, and desires – retirement planning has become far more personalized and comprehensive. These clients demand tailored solutions that align with their individual or family circumstances, aspirations, and values.
The College has prioritized deepening the expertise of more financial professionals with vital and valued knowledge to improve retirement outcomes across a wealth-building (and protecting) journey. And the same holds true of consumers, who can leverage applied knowledge to improve retirement readiness, no matter their age. While Baby Boomers have the immediate need, the next generations think about retirement and lifestyle planning differently, are as unprepared by any statistical measure, and are the next big wave of potential clients.
The College is thinking about retirement as a lifecycle approach that can create a large business opportunity for financial professionals and impact society in immeasurable ways.
That means a broader portfolio of knowledge, timely thought leadership and research, and events that reflect the new retirement planning paradigm.
Finally, as a convener, connector, and catalyst for change, we believe The College is uniquely positioned to help diversify the financial services profession and transform avenues of access to and understanding of finance and wealth. We view diversity as a business imperative – not just a moral one – and as a lasting form of economic justice through avenues of access across underserved communities. We view recruiting and retention in equal measure, and focus on how to make meaningful progress in career advancement to support more diverse leadership teams in the profession.
This access agenda extends to consumers through applied financial education programs that highlight “moments that matter” and empower all people to raise confidence in their financial literacy and know when to engage financial professionals in their relationship with money.
What This Means in Action
Going behind the blue hues, you’ll start to notice a centering of our work: Specialization. Retirement. Representation. Those three tenets align our focus and the lens through which we view our ability to expand our reach and impact to benefit society.
And that story is what excites me as a marketer and senior leader at The College. Not often do you get the opportunity to help craft a deeper focus on areas of such consequence. Not often do you get to connect that powerful message to a modernized brand launching the profession into the future.
When colors or fonts change, people ask? What’s really changed. Often, the answer is nothing beyond brand boredom. This time, so much has. The name and iconic logo may stay the same – but the boldness of our palette now aligns with the audacity of our actions. We’re a platform to expand your opportunities.
We’re a non-profit, accredited institution with the applied financial knowledge, professional networking opportunities and events, and impact initiatives that focus on you and the people and communities you serve.
Technology can make you more effective. Systems can make you more efficient. But there’s nothing commoditized about innovative e-learning, enterprise events, and societal solutions. Here, you can accelerate through knowledge. Grow through connections. Uplift through community.
That’s what's behind the blue hues.