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Financial Education for Securities, Banking, & Insurance Professionals.

» December 2013

Dr. Barton to Become Chancellor of The American College
Dr. Larry BartonPresident Barton to
Become Chancellor of
The American College in 2014

Dr. Larry Barton, President and Chief Executive Officer of The American College since 2003, will retire on February 1 to assume the role of Chancellor of the institution. Dr. Barton retires after serving more than a decade at the helm of the nation's largest college devoted to financial services.

"Dr. Barton has transformed our College in a manner unprecedented since our founding in 1927," notes Todd Schoon, JD, CLU®, ChFC®, Chair of the Board of Trustees and Executive Vice President with Northwestern Mutual.

"From award-winning digital learning, to a new PhD in Retirement and Financial Planning, from launching five major centers of excellence that serves women, veterans and others with unique needs, to leading our most successful advancement campaign ever – raising nearly $40 million in just the past two years – Dr. Barton's vision and energy are unbridled," he adds.

Michael C. Davidson, MSM, CLU®, CAP®, former Chair of the Board of Trustees and retired Vice Chairman and Chief Agency & Marketing Officer for State Farm Insurance Companies, will serve as Acting President and CEO starting February 1. A search committee to replace President Barton will begin its work next year.

In his new capacity as Chancellor, Dr. Barton will continue to be the voice of the institution at select company and legislative meetings, advance fund raising efforts and continue as a senior faculty member as the O. Alfred Granum Chair in Leadership. Dr. Barton is one of the world's leading experts in crisis management and threat assessment and is the author of four books on the subject; he serves on the editorial boards of five peer-reviewed academic journals.

"I am so grateful to the faculty, staff, alumni and Board members of The College," Dr. Barton notes. "There is a time when each of us knows it is time to retire from one role and make a better and different contribution, and this is the right time for that transition. I am incredibly proud of what we accomplished, and energized about the transformation ahead", he adds.

At the age of 27, Dr. Barton was the youngest person ever appointed to the faculty of Harvard Business School; he also served on the faculty of Penn State University and Boston College. An award-winning teacher and author, he was named a Fulbright Scholar to Japan in 1994 and was the 2010 recipient of the Lifetime Achievement Award from the Roundtable of New York for his contributions to the financial services industry. Dr. Barton and his wife, Eliza Barton, CAP®, have two grown sons and one grandson.

For those who would like to write to Dr. Barton, his email is

How Are Insurance Companies Preparing to Work Around
the ACA in 2014?
The Affordable Care Act, frequently referred to as Obamacare, is on the horns of a difficult dilemma. For the entire system to work, it needs to enroll millions of young "invincibles," that is, the (generally) healthy 30-something young people whose premiums (and low health care claims) will help fuel the system for older, sicker insureds. The federal government's "deal" with the health insurers depended on a mandate to purchase health insurance (with a penalty tax for non-compliance) to drive large numbers of young people onto the health care exchanges. However, the online exchange ( rollout on October 1st was a disaster as the system froze up (but never crashed, per government spokespersons), had multiple errors, and could not enroll people in the huge numbers needed. After intensive efforts to repair the website, it re-launched on December 1st and showed considerable improvement in speed and accuracy. However, multiple press reports say that's "back end" systems are still not working to pay the insurance companies or to verify subsidies for enrollees. Problems remain.

Health care While the clock has been ticking on fixing, health insurers have employed some workarounds to enroll new consumers. Following is a brief description of some "detours" insurance companies have taken to facilitate enrollment.

(1) Working with the federal administrators, there is now a temporary process to pay insurers the federal subsidies that millions of Americans will be due under the Affordable Care Act. Insurers will estimate what they are owed in subsidies rather than having the subsidies calculated through The estimates will be reconciled at a later date by federal administrators. Note that in cases where consumers have been given subsidies above what they should have gotten, the consumer will have to repay them out of pocket…a nasty surprise for some.

(2) The federal government is setting up a pilot program in some states to allow consumers to purchase health insurance directly from insurers and bypass the exchanges altogether. It is unclear if the insurers using this method will give consumers all their options, including policies offered by competitors…probably not!

(3) A third workaround for insurers came from an announcement by President Obama that insurers would be able to continue to offer old ("substandard") policies to consumers through 2014. Over 5 million consumers had received notices that their policies would be discontinued in January 2014 because they did not conform to the Affordable Care Act's minimum essential benefit requirements. The President gave the option to state insurance commissioners, and the insurers themselves to decide whether to continue the older policies. The response has been mixed, as some state insurance commissioners declined to allow the continuation.

We can be sure that healthcare reform will continue to make news well into the future. The government is pushing to make it work, some politicians are pushing back strongly, and insurers have incurred whiplash in responding to frequent changes. The phrase of the day is "stand by for news!"
Michael Davidson Receives Huebner Gold Medal
This year's Knowledge Summit was the most successful to date and it's all thanks to the over 2,000 in attendance, and The American College board and staff that worked so hard to make it happen. During the Summit, we named our distinguished Huebner Gold Medal recipient for 2013, Michael Davidson, MSM, CLU®, CAP® and would like to congratulate him on this tremendous achievement. This year, we welcomed over 1,300 graduates to our alumni family! We always strive to keep the content of the sessions and presentations compelling and valuable, while celebrating our graduating class. Click below to read more about our Huebner Gold Medal recipient, Michael Davidson.
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Michael Davidson
It's Not Too Late to Make a Tax-deductible Contribution!
Your College is non-profit and made a genuine difference in your career! As we recruit new faculty, build new programs and grow national recognition of your designation and degrees, we ask that you please consider a gift back so we can continue the legacy of our founder, Dr. Solomon S. Huebner. Support your favorite organization by December 31: you may be able to reduce your 2013 tax bill.

Give Online
The most convenient and secure way to ensure that your year-end gift is received on time is to donate online through your favorite charity's website. Most organizations include a user-friendly giving portal that accepts all major charge cards. For example, an individual can go to the website of The American College by using the link to make a donation. Be certain you make the online gift before midnight on December 31. Donations charged to a credit card before the end of 2013 will count for 2013, even if the credit card bill isn't paid until 2014.

Give by Check
Giving by check is a traditional method. But, with increased holiday mail traffic, make sure your contribution mails on or before December 31, 2013. The IRS requires that the postmark – not the date on the check – be December 31 for it to qualify for a deduction.

Give by Stock
Appreciated securities may result in additional tax savings. If you have owned stock for more than a year, allowing it to grow in value, you may use it to make a gift to an organization and avoid paying the capital gains tax you would owe had you cashed it in yourself. The stock gift, and properly endorsed stock power, should be postmarked by December 31 to qualify as a 2013 gift. If donors choose to mail a gift of stock, it is recommended that both the stock certificate (unendorsed) and the signed stock power be mailed in separate envelopes with return receipts requested.

Give by IRA Rollover
Retirement plan assets can be a practical source from which to make gifts. A Charitable IRA Rollover is described as a qualified charitable distribution, or money, that individuals may direct from their traditional IRA to eligible charitable and non-profit organizations like The American College. If you are 70 1/2 years or older, and the owner of an Individual Retirement Account (IRA), up to $100,000 can be distributed and used to satisfy any IRA required minimum distributions for the year. Distributions from an IRA must be made by December 31, 2013 to qualify. The IRA owner must direct the account custodian to transfer the gift directly to the charity.

The holiday season is a time for giving and there is still time and numerous ways for you to make a year-end gift, reduce income taxes, and more importantly, provide meaningful support to your favorite organization.

For information and further assistance on how to support The American College, please contact: Allen Thomas (610-526-1422) or Claudia Stowers (610-526-1423).

The information in this feature is not intended as legal or tax advice. For legal or tax advice, please consult an attorney.
Analyst Success
  Become a CFA® with
Analyst Success

Analyst Success is the latest learning experience for CFA® candidates. Live classes begin in January, so sign up for your free trial today to access Study Sessions 1 & 2. With features like an interactive dashboard with progress and performance statistics to help keep you on track, video solutions for proactive problem-solving and live interaction with instructors and peers, Analyst Success offers the best learning technologies on the market today. Join us for a free webinar on December 17th at 7:30 pm EST, where top CFA® experts will provide a program overview and live CFA® Level 1 seminar. For more details and to sign up, visit:

CFA Institute does not endorse, promote, or warrant the accuracy or quality of the products or services offered by Analyst Success. CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.

Consumer Financial Protection Bureau
  Consumer Financial Protection Bureau Resource: Know Your Financial Adviser

The CFPB continues its work in helping seniors and other consumers better understand designations and what they represent, and your College supports this meaningful effort. The latest release is a tool for senior consumers called "Know Your Financial Adviser." The CFPB recommends that professional designations require college-level coursework, offer the ability for consumers to file a complaint against a designee, and be issued by an accredited organization.

If you hold a designation from The American College, be sure to check your listing periodically on to make sure your information is current. We want to support CFPB's work in making sure that consumers have access to timely, accurate information related to their financial advisers.
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in the news
Michael F. Barry
Michael F. Barry, MSFS, CLU®, ChFC®
Alumnus of the Month
The Alumnus of the Month for December is Michael F. Barry, MSFS, CLU®, ChFC®. Click below to read more about his experience and impact on his industry.

Congratulations, Michael!
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Dave Littell
USA Today Features RICP®
Retirement planning, and the growing need for a versed adviser, has become such a relevant topic that USA Today recently discussed why RICP® is so important to our retirees in their Money section on Tuesday, November 5th, 2013. To read the full article featuring an interview with Program Director, Dave Littell, JD, ChFC®, CFP®, click below.
Read more
Click on each link below to read the full, informative article covering various industry topics
CNBC – It's Time To Ponder Your Pension Plans

Investment News – New Strategy For Equity Investing During Retirement Ignites Debate

USA Today – Long-Term Care Insurance: Peace of Mind At A Price
Knowledge Summit 2013
Knowledge Summit 2013
New Book To Grow Your Practice:
Regenerating Success by Mickey Rosenzweig
Mickey Rosenzweig, CLU®, ChFC®, AEP, President of The American College Alumni Association and President and CEO of Rosenzweig Financial Services (RSF), wrote Regenerating Success to explain how he turned RSF into a model firm for delivering the financial services of the future. He also offers practical advice, personal experience and detailed success formulas to help other financial services professionals with various challenges.

Mickey has generously decided to donate all proceeds from the sale of Regenerating Success to The American College to help us continue to serve the financial services industry with award-winning education. To order your copy for $14.99, click here.
Regenerating Success by Mickey Rosenzweig
Meet the Faculty: Adam Beck, Esq.,
Assistant Professor of Health Insurance
With the upcoming healthcare reform laws coming to fruition in 2014, we felt it timely to feature The American College Professor Adam Beck for this month's faculty spotlight. In this interview, we talk to Adam about the path that led him to teach here at The American College, current trends to look out for, and pitfalls to avoid in the changing world of healthcare that affect both you and how you advise your clients, and what important considerations to anticipate moving forward.

To read his full bio and our informative interview, click below.
Read more
Adam Beck
ChFC and CLU - Highest Standard of Knowledge and TrustThe marks CLU® & ChFC® are the property of The American College and may only be used by individuals who have successfully completed the initial and ongoing certification requirements for these designations.

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Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with flame logo)® in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.

The American College does not certify individuals to use the CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with flame logo)® certification marks. CFP® certification is granted solely by Certified Financial Planner Board of Standards, Inc. to individuals who, in addition to completing an educational requirement such as this CFP Board-Registered Program, have met ethics, experience, and examination requirements.

*CFA® does not endorse, promote, or warrant the accuracy or quality of the products or services offered by Analyst Success. CFA® and Chartered Financial Analyst® are trademarks owned by CFA® Institute.
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