2023-2024 President’s Report

As we roll out this year’s report, I’m also excited to introduce Carol Parlin Prushan, our new senior vice president of advancement and alumni relations. Under her leadership, we’re renewing our focus to expand The College’s impact on our communities.
The Rule of Threes
This year’s President’s Report is a great opportunity to learn more about the impactful initiatives tied to our three strategic focus areas.
1. Specialized Knowledge:
The Innovating for Impact article shows how The College is developing new programs on sought-after topics. This includes a sneak peek at how we’re building the #1 most-requested program you’ve been asking about—plus a way to get on our waitlist for it.
“Successful, continuous improvement is the cornerstone of a strong academic institution. And that will always require assessing existing programs for relevancy and quality, and then adapting as needed. The evolution of the financial services industry also necessitates the updates of existing, and development of new programs—a process that itself benefits from recent innovation.”
2. Representation:
The Purple Walls article examines how we support new and diverse talent in the financial profession broadly–and right here at The College. You’ll see powerful demographics and equally powerful programs, with testimonials about what’s working today.
Sneak peek: Ultimately, The American College of Financial Services is seeking to shape the financial services industry into a more representative sample of the Americans served by the industry. Through scholarships, events, programs, and thought leadership, we are undertaking a mission that will benefit not only the individuals and companies that make up the financial services industry, but current and prospective clients as well.
3. Retirement Planning:
The Reimagining Retirement Planning article features The College’s latest thought leadership on a topic of growing importance to your clients. Find out how we’re helping financial professionals reach consumers with robust applied retirement planning knowledge as the Baby Boomer retirement wave rises.
“In survey after survey over the past two years, our thought leaders have consistently found financial professionals, advisors, and even the general public want more retirement planning knowledge to prepare for the challenges and changing landscapes of markets, money, and regulations.”
(Read more about our strategic priorities.)
Measurable, Memorable, and Motivating
We’ve focused on what is measurable, letting the data tell the story wherever possible. And you’ll also find other moving and memorable stories, including a tribute to a dedicated alumnus – a professional whose life reflected a commitment to financial services and whose dedication to The College made a difference for generations to follow. We hope you’ll find all of the articles motivating as you think about your relationship with The College in the years to come.
And be sure to check out the listings of all our volunteers and look for yourself, your friends, and your colleagues among the photos from past events!
On behalf of our faculty and professional staff, I invite you to get your copy, share it with your network, and expand your opportunities.
Please enjoy the report—with our thanks for your support!
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AI Ethics in Financial Services Summit
Diversity, Equity & Inclusion Insights
Neeraja Rasmussen Talks About AI and the Benefits It Offers to Women
In her article, Rasmussen, who serves as a member of the Advisory Council for the Center for Women in Financial Services discusses how AI will shape the future of financial advising and better address the unique circumstances faced by women.
Rasmussen speaks about the ability of AI to create better learning environments, recruit without inherent biases, offer personalized planning strategies, and more in this article.
Read on to hear what Rasmussen has to say about AI in financial services and why its use promises a bright future for women.
Shares The Retirement Income Illiterate

In this episode of our Shares podcast, host Eric Ludwig, PhD, CFP® speaks with fellow researcher Chet Bennetts, CFP®, ChFC®, CLU®, RICP®, CLF® about some of the 2023 study’s most important takeaways and how advisors can use these insights to better partner with their clients for critical retirement planning conversations.
Chet Bennetts, CFP®, ChFC®, CLU®, RICP®, CLF® is an assistant professor of financial planning and director of the Chartered Financial Consultant® (ChFC®) and CFP® Certification Education Programs at The American College of Financial Services. With over 20 years in the financial services industry, Bennetts has served in roles from customer service, to being a financial planner, to managing 80 advisors in over five states. After serving in the Marine Corps for over eight years, both active and reserve, Bennetts was medically discharged when he returned from Iraq in 2005. In staying connected with the military communities, he serves as an on-demand DoD contractor, providing free financial counseling and planning services to service members and their families. His research focus and passion is in the area of behavioral finance — specifically how financial wellbeing affects physical and psychological wellbeing — among service members and veterans.
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.
College News Roundup April 15, 2024
Nasdaq | Actionable Outcomes for Advisors and Clients
April 19, 2024
Kaylee Ranck, PhD, director of College research, Eric Ludwig, PhD, CFP®, director of the American College Center for Retirement Income, Jennifer McCauley-Weiss, MBA, RICP®, CLU®, vice president and head of annuity services and marketing at New York Life Insurance Company, and Jamie Hopkins Esq., LLM, CFP®, ChFC®, CLU®, RICP®, chief executive officer of Bryn Mawr Capital, join Jill Malandrino on Nasdaq TradeTalks to discuss the knowledge gaps and behaviors around areas such as social security, long term care, life expectancy, and actionable outcomes for advisors and clients.
Financial Advisor | Beyond The Alphabet Soup: What Advisors Need To Know About Medicare
April 17, 2024
Steve Parrish, JD, RICP®, CLU®, ChFC®, AEP® discusses the benefits and drawbacks of certain types of Medicare options and how today’s advertising surrounding these benefits can sometimes be misleading to clients.
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Sarah McSpiritt
Innovating for Impact

Innovation starts with great ideas. In alignment with The College’s mission, the executive leadership team identifies and vets all ideas for new initiatives and program offerings rigorously, weighing their potential to help achieve the institution’s strategic goals. A new designation program, for example, might help us:
- Enhance the education experience for learners
- Fill voids in the financial services profession and society
- Advance data-informed planning and decision-making
By adhering closely to these goals and establishing measurements to track our progress toward them, we ensure The College’s ability to deliver high-quality experiences for all our constituencies.
“It is the responsibility of The College to uphold the promises we make to our students, learners, business partners, communities, and society. Assessing and reporting on our institutional effectiveness holds us accountable and allows us to be proactive and relevant in our delivery of applied financial knowledge.”
- Katie McGowan, EdD, PMP®
Vice President of Institutional Effectiveness and Impact
What’s Old is New
Innovation occurs within long-standing programs, including the one that started it all: the Chartered Life Underwriter® (CLU®)—a designation program that is continuously improved, including most recently in 2022. During the latest reporting process to maintain its institutional accreditation, The College highlighted the reimagining of the CLU® through a collaborative effort led by Program Director David F. Pierce, MSFS, MSM, MA, AEP®, CLF®, ChFC®, CLU®.
Through the collection of student and course enrollment data, the program director and faculty identified a growing downward trend, necessitating a question and call to action: What was causing the downturn in student enrollment to CLU®?
The program team turned to corporate partners and alumni to explore the issue with a survey. As this pie chart shows, the majority (68%) agreed or strongly agreed with focusing the curriculum and shortening the program.

From this data, the program team went to The College faculty and leadership to propose a program consisting of four core courses plus one elective, using the Personal Pathway® delivery model.
The CLU® program is now tracking the impact of this change by looking at enrollment and course persistence. We see an early spark of progress in the enrollment and persistence of students from the first to the second course, as well as positive feedback from students.
“Streamlining the CLU® program from eight to five classes was a big improvement...the program [is] so well structured, [it] provides the ease of studying and understanding how various concepts apply in real life.”
- Student, 2023 CLU® End of Program Survey
Successful, continuous improvement is the cornerstone of a strong academic institution. And that will always require assessing existing programs for relevancy and quality, and then adapting as needed.
What’s New Now
The evolution of the financial services industry also necessitates the updates of existing, and development of new programs—a process that itself benefits from recent innovation.
When the time comes to develop a new program, the process involves internal teams—including Academics, the Institute for Learning Innovation (ILI), and more—and in some cases, additional experts and partners who help The College expand our resources and what we offer.
Happening now, The College is developing a first-of-its-kind Tax Planning Certified Professional (TPCP) Program, with the leadership of renowned subject matter expert and College alumnus Jeff Levine, CFP®, CPA, PFS, CWS, AIF®, RICP®, ChFC®, BFA™, MSA.
Read the full article and learn more about The College’s innovative program offerings, including the TPCP Program, in our 2023-2024 President’s Report.