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Study: Clients of Financial Planners Stay the Course During Volatility
KING OF PRUSSIA, Pa. — June 26, 2025 - The American College of Financial Services (“The College”), the nation’s largest nonprofit educational institution devoted to financial services, announced today the results of its Advising Through Uncertainty Study. The study crystallized around one central focus: determining how currently uncertain financial markets are affecting the work professionals do with their clients.
The study’s initial results demonstrate market volatility is indeed weighing on clients’ minds: 53% of all respondents said their clients’ focus has shifted amid recent market uncertainty, and 76% say their clients are more anxious. However, advisors who focus on offering comprehensive financial planning services are significantly less likely than those who solely provide investment management services to field client requests to make changes to their investments (23% to 43%). In addition, nearly 9 out of 10 investment managers say their clients are feeling either somewhat or very anxious about market uncertainty; on the other hand, only around 7 in 10 financial planners said their clients felt the same. There was also a marked difference between the anxiety clients felt when being advised by College designees vs. those without College designations.
“These results send a clear message: knowledge counts in uncertain times, and a broader array of services and specializations among financial professionals can help tame client anxiety,” said Jared Trexler, senior vice president and chief marketing and strategy officer at The College. “Financial professionals must continuously serve clients and counsel them to make the best possible decisions no matter what storms may arise. An all-weather financial planner, comprehensively educated and well-versed in high-demand knowledge areas, is more likely to succeed in keeping their clients on track to reach their goals.”
Much has been said about the benefits of financial planning approaches involving “behavioral finance” or “financial psychology”: the idea that during market downturns, clients are less likely to make rational decisions and may hastily choose short-term gains over long-term financial health. The College’s study took this notion to its logical conclusion, surveying a broad array of financial services professionals about how their clients are responding to market uncertainty and the services and advice they are able to offer in return. Respondents to the survey comprised both investment managers, solely involved in portfolio construction and management for their clients, and financial planners educated on a wider array of strategies, needs, and services.
Financial planners voicing their success navigating marketing uncertainty with clients specialize in a variety of in-demand planning areas including retirement accumulation planning, retirement withdrawal and income planning, estate and legacy planning, and tax planning and strategy, among others. Read the full results of the study on our microsite page.
For more information, contact:
Jared Trexler
610-526-1268
jared.trexler@theamericancollege.edu
Taylor Genovese
973-524-4949
americancollege@jconnelly.com
About The American College of Financial Services
The American College of Financial Services is the nation’s largest provider of financial planning education through its CFP® Certification Education Program* and ChFC® designation program. The College goes beyond foundational education with rigorous programs, ethical standards, and experience requirements for professionals who wish to specialize in areas such as retirement income planning, tax planning, philanthropic planning, and more.
Connect with The College on LinkedIn, Instagram, Facebook, and YouTube. Discover all the ways you can expand your opportunities.
*Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design), and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.
Ethics In Financial Services Insights
Perspectives on Ethical Leadership 2025
The Mitchell/The American College Forum on Ethical Leadership provides a unique opportunity for a candid exchange of views on ethical matters facing the financial services industry and for sharing best practices. This year’s Forum brought together twelve leaders comprised of industry executives and academics from some of the nation’s most prestigious educational institutions. Together, they discussed how companies are integrating business and ethics in their strategic discussions on responsible AI. Throughout the discussion, they explored effective ways to integrate ethical behavior with effective leadership.
Tax Planning About The College Insights
Recognizing the TPCP™ Inaugural Class of 2025
With tax-informed financial planning in growing demand amid financial uncertainties and a changing world, the TPCP™ Program was created to provide financial professionals with a long-term view of the impact of taxes on clients’ financial goals and how to minimize their burden.
The program was a tremendous success, and professionals from across the country answered the call, exceeding Zoom capacities and making headlines for taking on this groundbreaking designation. As TPCP™ holders know and others soon will learn, a strong understanding of tax policy and regulations can improve all aspects of financial planning. From retirement planning or special needs planning to legacy and estate planning, tax planning touches all components of a client’s comprehensive financial planning.
The TPCP™ Inaugural Class
Below is an ongoing list of all those who earned their TPCP™ designation in 2025, becoming the first financial professionals to hold the designation and demonstrating their commitment to ongoing learning and superior client service.
- Robert Alderfer, JD, CFP®, MSFS, WMCP®, QPFC, CAIA®, TPCP™
- Michael Bins, CFP®, RICP®, TPCP™
- Kay Blunck, CFP®, CAP®, CRPC®, ChFC®, AEP®, TPCP™
- Kathleen Cashatt, CFP®, CPA, PFS, TPCP™
- Jonathan Davis, CFA®, CFP®, CTFA™, ChFC®, TPCP™
- Harris Doobrow, CFP®, TPCP™, RICP®, ChFC®, MBA
- Wendy Dudley, ChFC®, TPCP™
- Cole Ferrier, MSFP, ChFC®, RICP®, TPCP™
- Nolin Frias, CFP®, CPWA®, TPCP™, CIMA®, CSRIC
- Gregory Harris, JD, MBA, TPCP™
- Stuart Hunsicker, CFF®, ChFEBCSM, CEPA®, ASBC®, TPCP™, NSSA®, IRMAACP
- Steven Kibbel, CFP®, ChFC®, RICP®, CLU®, TPCP™
- John Knoll, CFP®, ChFC®, RICP®, TPCP™
- Abduhl Mashhoon, CFP®, TPCP™, CEPA®, CRPSSM
- Brian McKinney, CFP®, RICP®, TPCP™
- Brad Pistole, RICP®, TPCP™, CFF®, CAS®, IRMAACP
- Clark Randall, CFP®, MJur, AIF, CRPC®, CLU®, AEP®, RSSA®, TPCP™
- Christopher Reddick, CFP®, RICP®, TPCP™
- Robert Smith, TPCP™
- Christopher Sparks, CLU®, ChFC®, RICP®, CRPC®, TPCP™
- Louis Spence, CFP®, RICP®, TPCP™
- William Spencer, CFP®, TPCP™, CFT™, FBS®
- Sima Tamaddon, CFP®, ChFC®, RICP®, TPCP™
- Benjamin Wacek, CFP®, CKA, TPCP™
- Rock Wang, TPCP™
- Todd Yeiter, CFP®, CASL®, CEPA®, ChFC®, CLU®, TPCP™
- Andrew Barnes, TPCP™
- Andrew Spafford, ChFC®, ChSNC®, TPCP™
- Aric Jacobson, JD, LLM, CFP®, TPCP™
- Ashley Thon, JD, CLU®, TPCP™
- Brandon Schumacher, CFP®, TPCP™
- Charles Lewandowski, CFP®, TPCP™
- Daniel VanDusen, CFP®, TPCP™
- David Lynch, TPCP™
- Devon Rauth, CFP®, TPCP™
- Dustin Burns, TPCP™
- Edward Rossi, CFP®, CPWA®, CTS™, CES™, NSSA®, TPCP™
- Elizabeth Marks, CLU®, ChFC®, TPCP™
- Eric Bronnenkant, CPA, CFP®, TPCP™
- Eric Sachetta, ChFC®, CFP®, TPCP™
- John Depaola, BFA, ChFC®, CFP®, TPCP™
- John Knoll, ChFC®, CFP®, RICP®, TPCP™
- Jon Maitz, ChFC®, ChSNC®, CLU®, ChSNC®, RICP®, TPCP™
- Joseph Alfonso, CFP®, ChFC®, EA, RICP®, RSSA®, TPCP™
- Joseph RoosEvans, CTFA®, AEP®, CFP®, RICP®, ChFC®, CLU®, CLF®, CASL®, MBA®, CAPP®,CWPP®, CASL®, WMCP®, TPCP™
- Josh Hill, TPCP™
- Julio Lopez-Brito, MBA, RICP®, TPCP™
- Keyana Russ, CFP®, RICP®, TPCP™
- Maimoona Ahmed, TPCP™
- Mark Werner, CFP®, ChFC®, CLU®, RICP®, TPCP™
- Mary Rosai, CFP®, TPCP™
- Matthew McManus, TPCP™
- Matthew Ramaekers, CFP®, ChFC®, TPCP™
- Matthew Sumrall, CFP®, ChFC®, TPCP™
- Michael Cutbirth, CRPC®, CFP®, ChFC®, CLU®, RSSA, TPCP™
- Miguel Delgado Rivero, TPCP™
- Osvaldo Morales, JD, MSFS, ChFC®, CLU®, TPCP™
- Peter Dillon, CFP®, TPCP™
- Robert Bennett, CFP®, ChFC®, RICP®, CLU®, WMCP®, TPCP™
- Robert Hope, CFP®, TPCP™
- Samuel Katuzienski, CFP®, TPCP™
- Steve Boeckmann, CFP®, ChFC®, CRPC®, TPCP™
- Wai Ngan Yu, CFP®, TPCP™
More From The College
Special Needs Planning Retirement Planning Insights
Long-Term Care Planning: Key Questions for Clients
Long-term care planning can affect clients in a variety of situations, including those with lifelong or recent disabilities, health care needs arising from old age or other factors, and even caregivers for individuals with special needs who may be supporting a loved one or dependent through a health crisis. In this way, the issue straddles the border between retirement income planning and special needs planning and is a critical point to bring up in conversations with clients.
“The role financial professionals can play in long-term care planning is beyond that of the asset manager,” Kaylee Ranck, PhD, director of College research, said in a recent College webcast about long-term care planning. “You can be that navigator in times of transition, help clients protect their dignity and avoid family conflict, as well as avoid irrevocable financial losses that drain retirement savings or can disrupt estate plans and force the loss of a home.”
Want a comprehensive guide to all the important questions you may face with clients planning for long-term care needs? Download our crisis plan checklist now!
Preparing for Long-Term Care Planning
The facts about long-term care planning needs are stark: according to the U.S. Department of Health and Human Services, 70% of Americans turning 65 will need long-term health care later in their lives. AARP reports the median length of care is around two years, but for one in five Americans the duration of their care can last over five; additionally, over 53 million Americans are already providing unpaid care services to family members or other dependents due to sudden, unforeseen crises such as injuries, disabilities, or illnesses.
When considering these realities, the need for a knowledgeable financial professional becomes clear; as Joellen Meckley, JD, MHS, ChSNC®, managing director of the American College Center for Special Needs notes, financial advisors don’t need to be medical professionals or be experts on conditions or diagnoses, but they do need to understand the basics of their clients’ conditions — and quickly — to make timely and helpful decisions.
Just a few of the important factors to consider early on in a case requiring long-term care planning can include how old the client is, whether they are living with someone else or in a relationship, what their work benefit situation is (if any), whether they hold any kind of long-term care insurance or have other documents like a Power of Attorney or Healthcare Directive in place — and, most importantly, what the client is trying to solve for on behalf of themselves or their loved ones or dependents.
Caregivers’ Role in Long-Term Care Planning
Long-term care planning can get even more complicated when considering not just the needs of the person struggling with health issues, but also those of their caregivers. There are financial implications for caregivers that can go far beyond simply the care they give to another person, including how it can affect their own retirement income planning and savings, employment situation, personal income, or long-term life financial goals.
If a caregiver client is paying for a loved one’s care, a natural place to start could be evaluating how they are funding that care and whether it’s a sustainable strategy. If caregiving affects a caregiver’s work hours, options such as the Family and Medical Leave Act (FMLA) or other employee assistance programs may be on the table. Caregiving expenses can also be written off on taxes, so clients should be encouraged to keep detailed documentation.
Finally, financial professionals should be aware that caregiving can create emotional and physical strain; approaching conversations about long-term care planning with empathy and patience is key. Establishing a backup caregiving plan, including support options if the primary caregivers becomes unavailable, can also help set caregiver clients’ minds at ease.
More From The College
Learn more about our Center for Special Needs and Center for Retirement Income
Specialize in retirement income planning with the Retirement Income Certified Professional® (RICP®) designation
Prepare to serve caregiver clients and their dependents with the Chartered Special Needs Consultant® (ChSNC®) designation
About The College Practice Management Research
Insights for Advising Through Market Uncertainty
The Advising Through Uncertainty Study indicates that advisors who focus on financial planning are often better equipped to navigate market uncertainty than those who focus on investment management — yet only 40% of respondents claim financial planning as their primary focus. This illustrates a gap between the services and expertise clients need in uncertain times, and the services advisors are prioritizing.
When markets become volatile, clients need an all-weather financial planner. During market storms, 43% of investment-focused advisors receive portfolio change requests from clients, while only 23% of planning-focused advisors do.1 By acknowledging the anxiety clients may feel and redirecting their focus to overall, long-term financial planning, the all-weather financial planner can better ease client worries.
With the help of specialized knowledge, financial professionals can advise with more competence and clarity.
Want more insights like these? Explore the full study for deeper findings!
Key Findings
The consensus of the study is clear: client behaviors evolve in times of market uncertainty. Most advisors say that client inquiries have increased and the topics of their conversations with clients have seen changes. In fact, a majority of advisors (53%) say client focus has shifted during market uncertainty.1
A starker difference, however, is seen between the client behaviors of advisors focusing on financial planning and advisors with specialized designations, and clients of advisors focusing on investment and advisors without designations. 43% of investment management-focused advisors report more frequent portfolio changes during market turbulence.1 Similarly, 81% of non-designees say their clients are more anxious amid market uncertainty.1
As market storms loom, it’s financial planners and designees who are most prepared to weather uncertain conditions.
The Value of Financial Advice
So, what do these findings mean for advisors looking to confidently navigate uncertain markets? The Advising Through Uncertainty Study offers numerous key takeaways.
Be the Calm Amid the Storm
When the forecast turns severe, it’s a time to prepare, not panic. Similarly, financial planners are significantly less likely to be anxious than clients during market swings. Expert advisors can ease client worries with the help of advanced knowledge, offering perspective, reassurance, and a steady hand through uncertainty.
Stand Out With Specialized Advice
Clients of College designees are significantly less likely to shift their focus to investments, request portfolio changes, or feel more anxious. This shows that clients can better endure volatility — even in downturns — when their advisors display additional expertise.
By communicating the importance of specialized and thorough financial planning in uncertain times, ad
Put Market Volatility into Context
Every storm runs out of rain, and those who stay in the market will recover faster than those who change course. With historical context, advisors can help clients see that short-term performance in uncertain times doesn’t define their value or the long-term impact of their advice.
More From The College
Read more research from The College, the Advisory Services Survey
Learn more about specialized education with our Designation Outcomes
See more takeaways from our Retirement Income Literacy Study
Gain more insights for uncertainty from our thought leaders with Retirement Planning Strategies for a Changing Economic Landscape and Navigating Retirement Income Planning in Volatile Markets
Listen in as industry experts discuss this year’s tariff situation on our Shares podcast, The Truth About Tariff Impacts
1 Advising Through Uncertainty Study. The American College of Financial Services. 2025.
Driving Better Outcomes for Business Owners with RISR
KING OF PRUSSIA, Pa. — June 24, 2025 - RISR, a leading business owner engagement platform for financial professionals, today announced a strategic partnership with The American College of Financial Services (“The College”), the nation’s largest nonprofit educational institution devoted to financial services. This collaboration will enhance how financial advisors serve business owner clients by combining specialized education with powerful technology.
The College’s mission is to provide applied financial knowledge and education, promote lifelong learning and advocate for ethical standards to benefit society. It’s a mission rooted in history and focused on the profession’s future. This partnership with RISR brings that mission to life by pairing expert instruction with actionable tools to meet the complex needs of today’s business owner clients. As part of the collaboration, financial advisors who complete The College’s Business Succession Planning Certificate Program will receive complimentary access to a business insights report from RISR — a robust, data-rich overview that helps advisors uncover valuation, risk and growth opportunities for business owner clients. This benefit is designed to immediately translate the certificate’s learnings into real-world client impact.
“Advisors working with business owners are in a unique position to influence outcomes that directly impact retirement, legacy and generational wealth,” said Jason Early, founder and chief executive officer of RISR. “This partnership with The American College of Financial Services puts the right resources in their hands — specialized education and technology-enabled insights — so they can step confidently into their role as planning leaders during critical transition moments.”
Over 70 percent of privately held businesses are expected to change hands in the next decade, yet most business owners are unprepared to exit successfully. This knowledge gap presents a major opportunity—and responsibility—for advisors to step in and guide their clients through these life-changing transitions.
“Knowledge without action leaves potential on the table,” said Jared Trexler, senior vice president, chief marketing and strategy officer at The College. “This partnership bridges education and execution, arming advisors with the requisite tools to meet rising market demand for business planning and succession guidance.”
This initiative reflects both organizations’ commitment to elevating advisor impact and improving outcomes for business owners, who are key contributors to the U.S. economy. By making high-quality resources more accessible, the partnership aims to drive better decision-making, smoother transitions and more secure financial futures.
Financial professionals interested in comprehensive planning engagement tools for business owner clients can book a demo with RISR. Professionals can also learn more about The College’s Business Succession Planning Certificate Program.
For more information, contact:
StreetCred PR
RISR@streetcredpr.com
Audrey Love
865-253-6082
Audrey@streetcredpr.com
Jimmy Moock
610-304-4570
Jimmy@streetcredpr.com
Jared Trexler
610-526-1268
jared.trexler@theamericancollege.edu
Sarah Tremallo
908-967-0381
Stremallo@jconnelly.com
About RISR
Founded in 2024 and backed by financial industry veterans, RISR is a first-of-its-kind engagement platform designed to empower advisors and the business owners they serve. By providing deep insights into valuation, growth opportunities, risk assessment, and more, RISR helps advisors deliver more impactful advice. Its platform supports succession and exit planning, estate and legacy planning, retirement planning, insurance coverage, tax planning, and capital and liquidity planning. RISR is committed to unlocking growth for advisors and ensuring the success of small business owners who form the backbone of the U.S. economy. For more information, please follow RISR on LinkedIn or visit risr.com.
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.