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Where Military and Financial Services Meet
In this special episode of our Shares podcast recorded at The College’s 2024 Military Summit in Philadelphia, PA, host and military veteran Chet Bennets, CFP®, ChFC®, CLU®, RICP®, CLF® speaks with Lacey Langford, AFC®, founder of MILMO® and MilMoneyCon™ and an expert on navigating financial topics within the military community. They discuss the dual issues of how the financial services profession can better serve military members, veterans, and spouses in times of transition, as well as why those transitioning from military service into civilian careers are well-suited for positions in the industry.
Lacey Langford, AFC® is an Air Force veteran, military spouse, speaker, and financial coach who changes people’s lives from being fearful of money to having control and confidence with it. She is an Accredited Financial Counselor® (AFC®) with over 15 years of financial planning, counseling, and coaching experience, and is a member of the advisory board for the American College Center for Military and Veterans Affairs.
Langford is the founder of MILMO®, a community dedicated to helping the U.S. military with personal finance. She is the host of The MILMO® Show, a podcast that helps the military community make, save, and invest money wisely. She is also the founder and CEO of MilMoneyCon™️, a national conference for financial professionals united by military service.
Any views or opinions expressed in this podcast are the hosts’ and guests' own and do not necessarily represent those of The American College of Financial Services.
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2024 Military Summit Highlights
Formerly known as the Clambake, the inaugural Military Summit melded several traditions of The College and its Center for Military and Veterans Affairs, including the Maury Stewart Lecture Series and the Leadership Symposium into a full day of programming spread between the W Hotel Philadelphia and the National Constitution Center. With over 140 financial professionals, service members, veterans, military spouses, and scholars in attendance, it was an inspiring, educational, and empowering event in the best tradition of the Center’s mission: providing educational support and career development opportunities to active duty, guard and reserve members, veterans, and their spouses.
An Examination of Knowledge and Leadership
The Military Summit kicked off with Center managing director Phil Easton, CMSgt, USAF (Ret.), welcoming the attendees and recognizing the solemn nature of the day chosen for the Summit with a moment of silence.
“This event is a celebration of the military community, but it’s also an occasion to remember, as we always do, those who have given their lives in service to their country, both in and out of uniform,” he said.
The annual Maury Stewart Lecture was up next, delivered by Michelle Caruso-Cabrera: a CNBC contributor, former chief international correspondent, and the network’s first Latina anchor. Caruso-Cabrera spoke about her experiences transitioning from a local journalism to the national stage when CNBC was still a young network and many of her colleagues felt she was making a career mistake. She went on, however, to become a major force that drove CNBC’s growth over 15 years, including traveling the world to interview important politicians and leaders – while also unwittingly becoming a leader in the newsroom herself.
“You know leadership when you see it, and you feel it when it’s missing,” she said. “I was surprised some of my colleagues looked at me as a leader because I’d never thought of myself as ‘the boss.’ But you don’t have to be the boss to be a leader. It’s all about little interactions, giving credit where it’s due, and thinking small, not just big.”
“You don’t have to be the boss to be a leader. It’s all about little interactions, giving credit where it’s due, and thinking small, not just big.”
–Michelle Caruso-Cabrera, veteran journalist
The session on leadership was followed by a talk from Jamie Hopkins, Esq., LLM, CFP®, ChFC®, CLU®, RICP® of Bryn Mawr Capital on adaptive retirement planning. Throughout the presentation, Hopkins used data from The College’s 2023 Retirement Income Literacy Study and other sources to drive home the point that retirement plans need to be flexible enough to account for variables in markets and individual lifestyles – there is no one-size-fits-all solution.
“Americans are being told as long as you put money into your 401(k) and save rather than spend, you’re going to be okay. That’s an oversimplification,” he said. “We also have to do a better job guiding clients through the decumulation stage: they’ve spent their entire lives saving, and if they’re afraid to see their balances go down during retirement, it kind of defeats the purpose.”
Technology and Opportunity in Financial Services
Further programming at the Military Summit included a panel discussion on the impact of artificial intelligence (AI) on financial services led by Kevin Crawford of Northwestern Mutual, including College faculty members Chet Bennetts, CFP®, ChFC®, CLU®, RICP®, CLF®, Azish Filabi, JD, MA, and Eric Ludwig, PhD, CFP®. The panelists took the opportunity to note the pitfalls and promise of AI technology; while it has the potential to enhance consumer education and build trust in the industry, when used for nefarious purposes it can also threaten to undermine privacy protections and perpetuate many of the discriminatory practices that have plagued the profession in the past.
“When AI is impacted by faulty data or human biases, it can continue those biases,” Filabi said. “What happens when an insurance company’s AI system uses private data to arbitrarily strip coverage from people it thinks don’t qualify for it? There’s a lot of good it can do, but only if it’s managed ethically and transparently.”
“When AI is impacted by faulty data or human biases, it can continue those biases. There’s a lot of good it can do, but only if it’s managed ethically and transparently.”
–Azish Filabi, JD, MA
Attendees got a sneak preview of the evening’s festivities with a fireside chat featuring College board of trustees member Lieutenant General Michelle Johnson, USAF (Ret.) and 2024 Soldier-Citizen Award recipient Major General Suzanne Vautrinot, USAF (Ret.). The two discussed General Vautrinot’s path through the service, from her early Air Force days to her introduction to cyber operations that eventually led her to help found the military’s Cyber Command in defense of sensitive information worldwide.
Among the many things that make an effective leader, General Vautrinot said, the most important is creating a culture of trust and respect where people feel their ideas are heard and their peers are accountable for their actions.
“In the Air Force, there’s a tradition we call the ‘hot wash,’” she said. “After any kind of operation, before any more discussion happens, the senior officer who was leading the operation will be the first to share their analysis of how it went and what they could have done better as a leader. How you recover from any kind of internal crisis is just as important as how you handle it.”
Finally, attendees were invited to network and socialize in a Military Resource Group Networking Lounge featuring informational booths from event sponsors on resources and partnerships available to military members, veterans, and spouses: these included USAA, NFP, Thrivent, Nationwide, and F&G.
A Patriotic Culmination
After the Military Summit concluded, attendees migrated over to Philadelphia’s National Constitution Center for the main event of the day: the Soldier-Citizen Award and Scholarship Fund Dinner, which raises money for the Center to provide scholarship opportunities to members of the military community who want to transition into the financial services profession and pursue a designation or certification with The College.
Easton read off an impressive list of achievements for the Center in 2024, including:
- 1,700 scholarships granted by the Center since 2014
- 49 master’s degrees and 245 designations awarded to military community members in 2024
- $460,000 in funds raised for 67 scholarships and Center initiatives in 2024
In addition, Easton noted 20% of The College’s military scholarships go to military spouses, and that 19 scholars were in attendance for the evening’s event. Attendees heard from three of them – Tia Nichole McMillen, Kyle Packard, CFP®, ChFC®, and Rachael Smith, MBA – who are now successful professionals in the financial services industry as they shared their stories and thanked the Center and The College for the opportunities they received.
“Successful transition is possible through this powerful, thriving, and supportive community. We here, all of us, have your six,” said McMillen in her remarks, referring to the military phrase meaning “to have someone’s back.”
“Successful transition is possible through this powerful, thriving, and supportive community. We here, all of us, have your six.”
–Tia Nichole McMillen, military scholar
The evening’s crowning moment, of course, was the official presentation of the Soldier-Citizen Award – a bust of Pericles, the Greek soldier, philosopher, and leader – to Major General Vautrinot. In her acceptance speech, she brought the conversation back to the solemn meaning of 9/11, as well as what it means to be a member of the military and serve others. Recalling an incident involving colliding planes years earlier during an air show at a German base, she remembered what happened after everyone present got over their shock.
“In the moments afterward, you didn’t see people running away from the wreck – they ran to help,” she said, asking all the military veterans, service members, and families present to stand and be recognized once again. “That is service: the scholars and signers of the Constitution framed around us remind us of that, and so does everyone in this room. Because of you, we will always move forward together. Thank you.”
Thanks to all who attended the 2024 Military Summit! Check out all of the event's highlights below:
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Steps to Strengthen Our Alumni Network
Our regional alumni receptions unite alumni and students with a variety of designations and offer a social setting where they can connect. These events are a testament to our commitment to cultivating a dynamic, supportive, and thriving alumni network.
At the heart of these events is the desire to strengthen our alumni network. We believe in the power of connection and collaboration, so we want to facilitate just that. By coming together, we create opportunities for professional growth and support.
Our goal is to forge stronger ties among alumni, fostering a sense of unity and shared purpose. Each reception will be an opportunity to exchange ideas, discuss common interests, and build relationships that could lead to new ventures and collaborations.
Cultivating Connections
We held our first two Regional Alumni Receptions last month in Atlanta, GA following The College’s annual Conference of African American Financial Professionals (CAAFP). Looking around the room, we witnessed College alumni sharing experiences which highlighted their diverse career paths while also finding commonalities in their journeys.
In the words of one of our alumni, some who attended “took a walk down memory lane” while recounting fond memories of studying with classmates. Other alumni and students were just beginning to launch their careers in the financial services industry, having just received their first designation only two short months ago. College president and CEO George Nichols III, CAP® and our advancement and alumni relations team listened intently to the valuable insights shared by our talented alumni.
We raised a glass to honor the successes of individuals who have made a significant impact in financial services and in their communities. These celebrations are not just about recognizing past accomplishments, but also inspiring future greatness.
A Warm Invitation for Future Gatherings
We encourage you to look out for future alumni receptions coming to your area or planned with our upcoming College events. Whether you are a recent graduate, student, or a long-standing member of our alumni family, your presence will add to the richness of our gatherings. We are eager to celebrate with you, hear your stories, and build connections that will last a lifetime.
Stay tuned for details on the dates and locations of our regional alumni receptions. We hope to meet you in person soon! Let’s come together to celebrate collective achievements, nurture our connections, and embark on new journeys as one united alumni community.
Connect with our manager of alumni relations and volunteer management Meagan C. Ryer at Alumni@TheAmericanCollege.edu for more details on upcoming regional alumni receptions coming to a city near you.
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Diversity, Equity & Inclusion Podcasts
Monetary Policy in Practice
In this special episode of our Shares podcast recorded on August 13 at The College’s 2024 Conference of African American Financial Professionals (CAAFP), senior reporter for ThinkAdvisor John Manganaro speaks with Raphael Bostic, president and CEO of the Federal Reserve Bank of Atlanta. They discuss the importance of diverse representation in policy making, views on contemporary markets, and how to navigate making financial decisions that affect Americans’ lives.
Raphael Bostic took office June 5, 2017 as the 15th president and chief executive officer of the Federal Reserve Bank of Atlanta. He is responsible for all the Bank's activities, including monetary policy, bank supervision and regulation, and payment services. In addition, he serves on the Federal Reserve's chief monetary policy body, the Federal Open Market Committee (FOMC). The Federal Reserve Bank of Atlanta serves the Sixth Federal Reserve District, which covers Alabama, Florida, and Georgia, and parts of Louisiana, Mississippi, and Tennessee. The Bank has branches in Birmingham, Jacksonville, Miami, Nashville, and New Orleans.
This episode is a collaboration with ThinkAdvisor.
Any views or opinions expressed in this podcast are the hosts’ and guests' own and do not necessarily represent those of The American College of Financial Services.
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CAAFP 2024 Recap
For three days from August 12-14, 2024, attendees of the 18th annual event focused on empowering, educating, and advocating for the role of Black, African American, and DEI-committed professionals in the financial services industry experienced informative and inspirational workshops and coaching sessions plus invaluable networking opportunities.
The conference was truly transformational for all involved as it focused on the theme of Expanding Our Collective Impact: building solutions to the racial opportunity and wealth gaps that still persist in America today.
The Power of Insurance Planning
The first day of CAAFP 2024 opened with an insightful conversation between two financial services industry leaders: Salene Hitchcock-Gear, president of individual life insurance at Prudential; and Kam Harris, vice president of actuarial and risk at Atlanta Life Insurance. In their discussion, they focused on their diverse roles within the insurance planning space – one of The College’s foundational pillars thanks to the Chartered Life Underwriter® (CLU®) designation program – and how insurance can shape the futures of diverse communities.
Hitchcock-Gear and Harris also talked about the relationship between insurance and legacy planning, and how Black and African Americans have been left out of conversations about building generational wealth.
Along with a welcome dinner filled with fun and fellowship, attendees went to bed excited for the next day’s main events.
Financial Services Policy and Prosperity
The second day of CAAFP 2024 kicked off with a keynote address from Donna Brazile, a veteran political strategist and author. Brazile drew on her extensive history with Washington, DC and legislating to examine the current state of the country – and what can be done to narrow wealth gaps between diverse communities.
“Leadership comes in all kinds of flavors, shapes, sizes and colors,” she said. “We are not going back. We are going to celebrate who we are, and we are not afraid to claim diversity, equity and inclusion.”
After getting a chance to attend a series of workshops and coaching sessions and check out The College’s Networking Lounge – filled with information booths and activities, as well as shopping opportunities from local merchants – attendees enjoyed lunch and a conversation between two more industry movers: George Nichols III, CAP®, president and CEO of The College; and Raphael Bostic, president and CEO of the Federal Reserve Bank of Atlanta.
In their discussion, Nichols and Bostic took a look at the role of the Federal Reserve, bankers, and the financial services industry in unlocking new opportunities for communities of color.
“Information is power, and we want to get that information into the hands of the public,” Bostic said. “Our job is to create certainty and an economy for everyone. If we’re doing our job, people will feel optimistic about the future.”
Finally, the evening was capped off with a celebratory White Party, where all attendees were invited to wear their best white outfits and dance to the beats of DJ Shakim and Dee-1. It was the perfect ending to an eventful day!
Empowering Future Generations Through Finance
While no one wanted CAAFP 2024 to end, day three of the event wasn’t short on excitement and insight. To kick off the day, Nichols hosted a fireside chat featuring Virgil Miller, president of insurance giant Aflac U.S.
Following that session, the CAAFP crowd heard a powerful address from Michelle Singletary, author and award-winning personal finance columnist for The Washington Post. Singletary stressed the importance of legacy-building for Black communities and families, returning to the themes of day one while adding her own ideas on how a change in mindset is necessary to close the racial wealth gap.
The College recognized the excellence of African American financial professionals with its annual presentation of the Lang Dixon Leadership and Excellence in Achieving Diversity (LEAD) Award. This year, two award recipients – Maceo A. Sloan, CLU® and Calvin F. Vismale, CLU® – were recognized posthumously as two of The College’s first Black alumni in the CLU® Program and among those who paved the way toward increasing diversity in the insurance business.
Finally, the entire event was capped off by a talk from Dawn Staley, a legendary figure in women's basketball. Staley is renowned both as a former player and as the current head coach of the South Carolina Gamecocks, leading the team to multiple national championships, SEC titles, and Final Four appearances. She played eight seasons in the WNBA as a stellar point guard for the University of Virginia, and was a three-time Olympic gold medalist with the U.S. women’s basketball team. In her address, Staley focused on critical elements of leadership needed to expand collective impact.
“I hope CAAFP attendees do three things after this great event: expand their knowledge, expand their network, and stay connected—both with The College and with each other. That’s how we’ll deliver on the promise of the conference and Expand Our Collective Impact.”
George Nichols III, CAP®
President and CEO
Thanks to all who attended CAAFP 2024! We look forward to seeing even more financial professionals and continuing to expand our collective impact in 2025.
Get an inside look in this year’s recap video.
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About The College Diversity, Equity & Inclusion Insights
Lang Dixon and the Origins of CAAFP
Established in 2018, The College’s Lang Dixon Leadership and Excellence in Achieving Diversity (LEAD) Award is given annually at CAAFP to an African American financial services professional who has significantly impacted the financial services profession. For 2024, two men received the Lang Dixon Award posthumously: Maceo A. Sloan, CLU®, and Calvin F. Vismale, CLU®, two of The College’s first Black alumni in the Chartered Life Underwriter® (CLU®) Program.
Along with recognizing Sloan and Vismale, those offering tributes to them at CAAFP 2024 took time to reflect on the man who provided the inspiration for the award in the first place. Lang Dixon was a successful life insurance agent and mentor who believed in giving back to his profession, and was part of The College’s inaugural African American Advisory Committee dedicated to increasing diversity and inclusion in financial services.
When Dixon passed away in 1994, the members of the still-active committee decided to commemorate his legacy with a Lang Dixon Education Day – and, thanks to the backing of some generous corporate sponsors, the idea evolved into the first CAAFP event held in 2001!
See the full story in this year’s tribute video.
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Sowing the Seeds of Financial Success
In this episode of our Shares podcast, host Lindsey Lewis, MBA, ChFC®, CFP® speaks with Valencia Gabay, program director for financial educational and wellbeing at The College and one of the many minds behind Know Yourself, Grow Your Wealth®: a non-credit certificate program that helps improve financial decision-making, increase financial security, and put into practice strategies to achieve financial goals. She discusses the ideas and goals behind Know Yourself, Grow Your Wealth® and how the program is fundamentally engineered to help learners take control of their financial future.
Also featured is Tony Sanchez, a community affairs specialist at OneAmerica Financial in Indianapolis and graduate of the program, to speak about the program benefits he has seen personally and in his capacity as a mentor for others.
Valencia Gabay is the program director for financial education and wellbeing at The College. With a dedication to fostering partnerships and guiding community engagement, she strives to enhance financial wellbeing for diverse populations. As an accomplished learning experience designer and academic professional, she excels in creating inclusive learning environments through a design thinking approach. An organizational leadership scholar, her research interests lie in humility and inclusive leadership practices that promote team resilience, creative thinking, and innovation within the virtual workforce. With over 20 years of experience in higher education, she has contributed significantly to academic literature and has shared her expertise on international platforms. Gabay is also the co-author of Group Coaching and Mentoring: A Framework for Fostering Organizational Change. She completed her undergraduate and graduate work at the University of Florida and is completing her doctoral studies in Organizational Leadership at Indiana Wesleyan University.
Antonio “Tony” Sanchez is a community affairs specialist at OneAmerica Financial. He serves on the community affairs team, helping run the groundbreaking Pathways Program which provides students in underserved areas of Indianapolis with journeys that build skills, connections, and a path to sustainable income through jobs, mentorship, and opportunities in the financial services industry. He is a former OneAmerica Financial intern and is now a OneAmerica Financial full-time associate. Before joining OneAmerica Financial full-time, he also worked as an accountant intern at Mutual Savings Bank in Franklin, Indiana. Sanchez graduated from Franklin College with two degrees in economics and has worked and volunteered at the Boys and Girls Club in Franklin.
Any views or opinions expressed in this podcast are the hosts’ and guests' own and do not necessarily represent those of The American College of Financial Services.