July 2015 Connections Newsletter

Issue #0715  
July
2015
 
The American College of Financial Services® Connections
A Lack of Social Security Knowledge By Retirees Puts Pressure On Advisors
  Most Americans do not properly understand their Social Security options and it’s not a surprise to the financial services industry. A new survey of roughly 1,500 Americans was conducted by KRC Research on behalf MassMutual and found that 72% of respondents could not pass a true or false ten question quiz on Social Security. In fact, the lack of knowledge about Social Security is consistent with a comprehensive retirement income literacy test, the RICP® Retirement Income Survey, which was conducted by The American College and found that only 20% of Americans could pass the retirement income test.

Perhaps more troubling was that 62% of the survey respondents over age 50 failed the test. The lack of knowledge is important because nearly 1/3rd of current retirees rely almost solely upon Social Security for their retirement income. However, many people are ill-informed of how important Social Security will be to their retirement as only 15% of respondents expect to rely solely upon Social Security, which indicates that many people misunderstand how important Social Security is to their retirement income. This lack of knowledge creates an environment for making uninformed decisions that could detrimentally impact one’s retirement. This lack of retirement income knowledge makes the role of the retirement advisor even more important. The Retirement Income Certified Professional® (RICP®) designation at The American College can help keep you up-to-date on all the latest retirement income research and strategies so that you can best serve your client’s retirement income needs.
 
Learn More About RICP

The American College Reaches Out to Other Colleges and Universities...and You Can Help
  Your College has launched a new initiative to establish closer connections with financial planning and risk and insurance programs at other colleges and universities. As a result, students in these programs will potentially be able to use some of the credits they have already earned to apply toward CLU®, ChFC®, CFP® certification education or other prestigious designation programs. In addition, students across the country will learn about our popular graduate degrees and our PhD program in Financial and Retirement Planning.

As another benefit of the new outreach, we will be able to assist client companies who are working to recruit qualified candidates to join the financial services profession. In building this new pipeline of potential designees and future advisors, we will be working alongside a number of other industry organizations to create a meaningful impact.

AJ Loving Dr. Ajamu (“AJ”) Loving will lead the program as Director of Academic Partnerships and Assistant Professor of Financial Planning with The American College. Dr. Loving earned his PhD in Personal Financial Planning from Texas Tech University, where he was an AT&T Chancellor’s Fellow. Prior to joining The American College, Dr. Loving was assistant professor of finance at Texas A&M University-Commerce.
As a student or designee with The American College, there is an important role you can play in Dr. Loving’s work. If you have close connections with your alma mater’s programs or professors in the areas of financial planning or risk and insurance and are able to arrange an introduction for AJ, please contact him at Ajamu.Loving@TheAmericanCollege.edu. We appreciate your support as we work to extend the reach of The American College, your designation programs, and our profession.
 
 
Read Ajamu's Bio Here!

Register Now for Chicago LIVE!
 
Monday, September 28, 2015
10 AM - 2 PM CST

The American College invites students, alumni and financial service professionals to join us as top thought leaders discuss the state of the industry. Don’t miss out on this great opportunity to earn 2 CE credits and receive information that will enhance your services to your clients and provide you with ethical insights to safeguard your business. Registration is $60 per person, or $600 per table of 12, and includes lunch. Chicago LIVE is sponsored by Pacific Life. View the video below for more details about this exciting event.

For information on speakers and to register, click here!
 
Chicago LIVE! Video

Save the Date!
  Learn More about the WLA Summit 2015     Society of FSP  
 
Your College is proud to announce a video teleconference in partnership with The Society of Financial Service Professionals (FSP),
on Veterans Day - November 11, 2015.

This collaborative venture, sponsored by Pacific Life, offers an extraordinary educational opportunity to learn from the best about retirement income planning and the rapidly rising demand for advisors trained in this subject matter.

The high-impact session, titled "Techniques and Strategies for Creating Retirement Income You Can Live With," features a panel of renowned professors from The American College of Financial Services, including Jamie Hopkins, Wade Pfau, & Dave Littell, as well as Society practitioners.

Attendance is open to all financial advisors. If you are not a member of FSP, simply contact your local Society chapter and attend as their guest. All attendees will receive 2 CE credits.

Don’t miss this opportunity! More details to come.


The American College Featured in Leading Publications!
The American College in USA Today, The Washington Post, and more!
Consumer Reports - Can You Afford To Live to 100?
Barron's - A New Approach To Bonds
Forbes - Workplace Inequalities Force Women To Plan For Retirement Differently
Financial Advisor - OverSavers Anonymous: Where Prudent Savings Meets Pathology
News & Events

Alumna of
The Month

Ellen D. Tillman

Ellen D. Tillman
CLU®, MBA

Read more

Upcoming Events

•  10th Annual CAAFP Conference:
August 18 - 19, 2015 in Tampa, FL -
Visit the website for more details.
•  2nd Annual Clambake: August 20 - 21, 2015
in Lake Geneva, WI - Register Now!
•  MSFS Residency:
9/14/15 - 9/18/15 Bryn Mawr, PA - Email:
Bonnie.McCormick@TheAmericanCollege.edu for more details.
•  MSM Residency:
9/28/15 - 10/2/15 Bryn Mawr, PA - Email: Michele.Casciano@TheAmericanCollege.edu for more details.
•  Chicago LIVE!: September 28, 2015
Chicago, IL - Click
here for more details.
•  Knowledge Summit:
October 22 - 24, 2015 in Honolulu, Hawaii - Visit:
TheAmericanCollege.edu/ks2015
for more details.

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Our address is 270 S. Bryn Mawr Avenue, Bryn Mawr, PA, 19010-2196