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.

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.

Read the Full 2025 Forum Report

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®, TPCPTPCP®
• Robert Hope, CFP®, TPCP®
• Samuel Katuzienski, CFP®, TPCP®
• Steve Boeckmann, CFP®, ChFC®, CRPC®, TPCP®
• Wai Ngan Yu, CFP®, TPCP®
   

More From The College

• Explore the TPCP® Program
• Tour the TPCP® Program
• View the 2025 Tax Planning Guide
• Browse All Designations
   

In this Horizons session, Finke convened Fichtner, Biggs, and Buckingham — two of whom are former deputy commissioners of the Social Security Administration (SSA) — to talk about the uncertain future of Social Security and how to approach the topic in planning conversations with clients. All participants recognized that Social Security has grown over the years from simply providing a supplemental benefit in retirement to being one of the main sources of retirement income most Americans depend on. 

The panel agreed that concerns from political and business leaders regarding Social Security fraud are often overblown, as the number of those abusing the system is likely vanishingly small. They also recognize that while the program needs reform, recent moves by the Trump administration to radically restructure and in some cases scale back support for Social Security may cause more problems than they solve — not interfering with those already collecting, but those who are approaching claiming age in the near future. 

Social Security: Perceptions vs. Reality 

The experts stressed that it’s important to make clients understand just how much money they could potentially lose if they claim Social Security too early. Fichtner noted that while many still view age 65 as the ideal claiming age, the truth is that age is now probably closer to 70. In addition, those who waited to claim Social Security until age 70 got 77% greater returns than those who claimed at the minimum age of 62. In addition, Finke pointed out that any retirement plan built to maximize Social Security should take into account clients’ lifestyle choices and actual projected lifespan. He reminded the audience that most people greatly underestimate how long they will live — according to research, a majority of Americans believe they won’t live until age 75, when the truth is they will probably live at least ten years longer than that. 

In the end, the experts concluded that clients may need to adjust their expectations of Social Security benefits in the future, and financial professionals need to prepare them with a retirement strategy that takes changes into account. Even though the government likely has until 2033 to address the solvency of Social Security, what that solution might look like is still unclear. However, the panel agreed it would be wise to begin to adjust clients’ expectations now, as the belief that they will get a benefit from Social Security bigger than what they paid into it in taxes is probably not true anymore. 

To earn continuing education credit for this session, log in to Knowledge Hub+. 

More From The College 

Explore The Retirement Course™ 

Learn About the Retirement Income Certified Professional® (RICP®) Program 

View the Results from Our Retirement Income Literacy Study

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.

Get Your Checklist
 

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
 

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, advisors can stand out among their investment-focused peers.

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.

See the Full Study

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.

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.

When Juneteenth became a federal holiday in 2021, it marked a long-overdue recognition of a critical chapter in American history. For many of us in leadership, that moment also came with an ongoing responsibility: to move from symbolic acknowledgment to sustained, measurable action.

Now, four years later, we ask not just what we’ve celebrated, but what we’ve changed.
At The American College of Financial Services, we have worked with purpose to advance financial freedom for many years, including through our Four Steps Forward initiative that began in 2020 and focused on: empowering Black women through financial research and education, recruiting and training Black financial services professionals, developing executive leadership programs for Black professionals in financial services, and building collective impact for Black communities through financial education. We began with a focus on Black women, professionals, and communities, and today, these programs have expanded to reach broader populations. 

For us, Juneteenth is not only about reflecting on the past and the end of slavery in America; this is an opportunity to honor our country’s history by building a stronger, more inclusive financial future for all.

Since Juneteenth was first recognized in 2021, we’ve taken real steps forward:

• In 2021, the American College Center for Economic Empowerment and Equality (CEEE) produced research called Black Women, Trust, and the Financial Services Industry, which delivered meaningful insights to help financial professionals build better relationships with and better serve this important group. In 2022, WealthManagement.com awarded the research a prestigious Wealthies award.
• In 2022, CEEE introduced the Executive Leadership Program, an innovative development opportunity for Black and DEI-committed professionals. Its success has led us to expand the program’s reach to include more leaders from diverse backgrounds.
• That same year, we rolled out Know Yourself, Grow Your Wealth®, a consumer education program distributed through more than 35 historically Black colleges and universities (HBCUs). It’s now reaching broader audiences across communities. As of the 2024 annual impact report, 15% of participants say they improved their financial knowledge as a result of completing the program, 46% adjusted their credit card use, and 68% increased their savings or began saving for the first time.
• Our Conference for African American Financial Professionals, now in its 19th year, attracted record attendance, most recently drawing nearly 1,000 financial professionals, more than 50 HBCU and affiliate scholars, and 20 corporate sponsors to the 2024 event.

These initiatives are more than checkboxes. They are expressions of our belief that economic empowerment is the next chapter in the story Juneteenth asks us to tell. It’s a story in which opportunity is not merely promised, but delivered.

The College has used its platform to advocate for positive change within our profession and society at large. Today we’ve made representation one of our top three strategic priorities, underscoring our commitment to advancing education, access, and opportunity across the financial services profession.

In the past year alone, I’ve had the privilege of sharing my perspectives on representation and inclusion at industry gatherings such as Future Proof, Tiburon, and the Financial Services Institute, as well as in podcasts and publications. And while those are just some examples of my activities in the past year, they are not isolated or individual. Rather, our work represents a sustained commitment by our executive leadership team, board of trustees, and many strategic philanthropic partners.

Juneteenth is a reminder of resilience and responsibility. In pursuit of The College’s mission to provide applied financial knowledge and education, promote lifelong learning and advocate for ethical standards to benefit society, we have a responsibility to continue opening doors, challenging assumptions, and equipping more people to thrive. We remain dedicated to that work through research, education, and action.

This year’s Conference for African American Financial Professionals in August will center on the theme Pathways to Prosperity. On this Juneteenth, please join me in reflecting on how we can continue forging new pathways from the freedom brought by emancipation to the freedom that comes with financial prosperity.

More From The College

Get to know the Center for Economic Empowerment and Equality
Learn about the Conference for African American Financial Professionals (CAAFP)