2016 - theamericancollege.edu · michael e. “mickey” rosenzweig, clu ... over 250 scholarships...
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2016Annual Report 2016
2 2 0 1 6 A N N U A L R E P O R T
Where would the financial services profession be today without The American College of Financial Services?
GARY T. “DOC” HUFFMAN, CLU ®, ChFC ®
Chairman, Board of Trustees, The American College of Financial Services Chairman, President & CEO, Ohio National Financial Services
MICHAEL E. “MICKEY” ROSENZWEIG, CLU ®, ChFC ®, AEP ®
Chairman, The American College Foundation Board of Directors President & CEO, Rosenzweig Financial Services
HEATHER L. DAVIS, JD, CLU ®, ChFC ®, CAP ®, AEP ®
President , The American College Alumni Association Advisory Board Corporate Vice President , The Nautilus Group
The American College of Financial Services has been the leading nonprofit provider of education in
insurance-based financial services for nine decades. We have helped tens of thousands of advisors build
successful lives and careers who, in turn, have led millions of Americans to financial security. Today our
work takes on an even greater purpose as our country faces a national retirement income crisis.
The retirement income crisis will affect every community, every income class and every demographic
across our nation. The American College — your College — is preparing advisors to address this crisis.
Through our RICP® designation, advisors are gaining the knowledge necessary to contend with the
challenges facing our profession. This would not be possible without the generous support from our
alumni community and corporate partners. For this, we are most grateful.
The generosity of thousands of individuals and dozens of companies is vital to the role that The College
must continue to play. Our historic commitment to ethics and rigorous educational standards is more
relevant than ever. Ninety years of objective and unbiased education provide an exceptional foundation
for a solid future. Your financial support is a vote for unquestioned integrity and ethics at the core of
your designations and degrees.
In the following pages, we highlight and gratefully thank each person and corporate partner whose
spirit of philanthropy enhances and augments the rigorous academic programs we offer. Together, we
strengthen our profession, develop the next generation of financial professionals and help clients and
communities to thrive.
With our deepest thanks,
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 3
2016 ALUMNI HALL OF FAME INDUCTEE:Phillip C. Richards, CFP®, CLU®, RHU®
The Alumni Association of The American College of Financial
Services inducted Phillip C. Richards, CFP®, CLU®, RHU®, into the
Alumni Hall of Fame on November 18, 2016, at the New York Yacht
Club in New York City.
Each year, the Hall of Fame recognizes individual graduates of The College’s designation or
degree programs for their steadfast leadership, commitment and advocacy for the profession
and for the educational outreach of The College. Richards is the 15th person to be inducted
into the Hall of Fame, joining the rank of other inductees who share a long history of
volunteering and participating in The College’s community and mission.
Phil Richards is executive chairman and founder of North Star Resource Group, which has
ranked repeatedly among the top four firms in the world by GAMA International. In addition to
earning numerous professional, community service and ethics awards, the company was voted
one of 100 Best Places to Work in Minnesota. Having begun his career in 1962 with the Penn
Mutual Life Insurance Company in Philadelphia, Richards went on to lead Hartford Life in
brokerage sales and then acquired North Star Resource Group in 1969.
The author of three successful books, Richards has been a featured speaker in over 15
countries, addressed annual meetings of over 150 major companies, and served as adjunct
professor at universities in the United States and Asia. He has served on several nonprofit and
education sector boards, including The American College Board of Trustees.
Richards has received international recognition throughout his long career, including NAIFA’s
66th John Newton Russell Memorial Award, the highest honor in the insurance profession.
He received GAMA’s International Management Award for 43 consecutive years. Also in 2016,
Richards delivered the commencement address and was presented with an honorary degree
of Doctor of Humane Letters from his alma mater, Temple University, in recognition for
achieving an exceptional level of success in his chosen career.
4 2 0 1 6 A N N U A L R E P O R T
In 1975, as The College approached its 50th year,
the Board of Trustees decided to honor those
whose role in the development of the institution
was of special significance.
The Huebner Gold Medal, named for The College's founder, Solomon S. Huebner,
is awarded to people who, through support and dedication to The College and its
programs, have moved the institution forward in its mission.
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S A W A R D E D T H E 2 0 1 6 H U E B N E R G O L D M E D A L T O C A R Y M . M A G U I R E .
Cary M. Maguire, Chairman and President of Maguire Oil Company
and Maguire Energy Company, Chairman of Components Corporation
of America and Staco, Inc., has been an extraordinary leader and
philanthropist to educational institutions across the nation. Cary
Maguire is widely known for championing ethical research and
educational programs. His generous contributions have established
fellowships in applied ethics and endowed The American College Cary
M. Maguire Center for Ethics in Financial Services. Cary Maguire
donated a truly transformative gift of $5 million to The College, which
will serve as the foundation for the Invest in the Future Campaign,
which aims to raise funds toward the purchase of the property The
College will call its future home.
2016 HUEBNER GOLD MEDAL RECIPIENT:Cary M. Maguire
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 5
2016 PRESIDENT’S AWARD RECIPIENT:Michael J. Corey
On June 23, 2016, Michael J. Corey received the
2016 President’s Award at a joint meeting of
The American College Foundation Board and
the Board of Trustees held in Charlotte, NC.
As the highest award bestowed by The College’s Foundation Board of Directors,
The President’s Award recognizes the recipient’s exemplary stewardship in furthering
the advancement mission of The College. Throughout his seven-year tenure as a trustee,
Mike Cory provided exceptional leadership and generously shared his expertise in areas
vital to the growth of the institution.
Mike played an integral part in the creation and development of The Clambake, the premier
annual fundraising and networking event of The College’s Penn Mutual Center for Veterans
Affairs. It features many renowned speakers and attracts more than 300 senior executives
from all areas of the financial services profession. Started in 2014, this highly successful
event has raised close to a million dollars to help transform the lives of active duty service
members and veterans, as well as their spouses. This cause championed by Mike has provided
over 250 scholarships through 2016 to support educational opportunities for qualifying
students who want to pursue a career in the financial services profession.
With more than 45 years of experience in executive search services, Corey is an
internationally recognized recruiting industry icon. He is now a senior partner of The Corey
Search Group, an advisory firm dedicated to the financial services profession worldwide.
Mike and his team also have extensive experience in succession planning, management
audits, compensation analysis and benchmarking.
6 2 0 1 6 A N N U A L R E P O R T
23 RD ANNUAL PRESIDENT’S DINNER AND RECEPTION
President and CEO Bob Johnson with past and present Huebner Gold Medal
recipients: (L-R) Reginald Rabjohns, Albert “Bud” Schiff, Michael C. Davidson ,
James Mitchell , William Wallace, Richard Liddy, Alan Press, Louis DiCerbo,
(seated L-R) Eileen McDonnell , Cary Maguire, Gloria LaGrassa
President’s Circle Co-chairs, Anthony Domino,
Jr., MSFS, CLU®, ChFC®, CAP®, AIF® (Associated
Benefits Consultants) and Adam Seiden , CLU®, CLF®
(Northwestern Mutual – NYC Park Avenue)
Gotham Hall, New York City
November 18, 2016
President’s Circle Co-chairs Adam Seiden, CLU®, CLF® (Northwestern Mutual – NYC Park
Avenue) and Anthony Domino, Jr., MSFS, CLU®, ChFC®, CAP®, AIF® (Associated Benefits
Consultants) welcomed 170 guests to Gotham Hall for The College’s annual black-tie
President’s Dinner. The highlight of the evening was the presentation of the Solomon Huebner
Gold Medal to Cary Maguire, Chairman and President of Maguire Oil Company. We are
especially grateful to Dinner Sponsor, Ohio National Financial Services and Entertainment
Sponsors, Steven J. Valerius, Mibb and Peter C. Browne, LUTCF®, and Ameritas for their
generous support of the event. The 2017 President’s Dinner will be held on November 17, 2017,
in Philadelphia.
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 7
Longtime President’s Circle members, Jenny Kho CLU®,
ChFC®, RICP®; Johnson Kho, CLU®, ChFC®; Helen Kho,
CLU®, RICP®
Trustees Carolyn Feeney, CLU®, ChFC® (Prudential) and Daralee
Barbera, CFP®, CMFC®, CLF®, ChFC® (GAMA International) and
Laurence Barbera and Robert Pfundstein
Molly Fritz; Todd Schoon CLU®, ChFC®, Executive Vice President, Business Development (The American College of
Financial Services); Jen Schoon; and R. David Fritz, CLU®, Managing Partner (Executive Benefits Network)
8 2 0 1 6 A N N U A L R E P O R T
President Bob Johnson , PhD, CFA® CAIA®, CLF®,
with Heidi Johnson , and Foundation Board
member Kristyn Cook-Turner, CLU®, and Jim
Solomon Huebner Gold Medal
Adam Paoli , CLU®; Brandon Levithan , CFP® ChFC®; Brandon A. Turner, CFP®;
Clarisa Hernandez, CFP®, ChFC®; Professor Jamie Hopkins, CLU®, RICP®; Mark
Perrault, CFP®, CLTC, MBA
Foundation Board member Lily Fong, CLU®, ChFC®, RICP®, CASL®, Eileen McDonnell
and Terry McDonnell-Ganley
Resplendent Gotham Hall Foundation Board director Joseph Sparacio, LUTCF®, CLU®,
CLF®; Alumni Advisory Board members Jason Early, ChFC®,
CFP®, and Harry Hoopis, CLU®, ChFC®
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 9
The 11th annual Conference of
African American Financial
Professionals brought together
learners and leaders from across
the profession to further the
education, advancement and
heritage of African American
financial professionals.
Attendees spent August 8-10 in Tampa hearing
from renowned speakers and taking part in
dynamic discussions on issues faced by advisors
and clients. Attendees participated in interactive
workshops and had the opportunity to network
with top producers from across the profession.
2016 CONFERENCE OF AFRICAN AMERICAN FINANCIAL PROFESSIONALS (CAAFP)
CAAFP 2016 SPEAKERS
JAMES BROWN
Network BroadcasterCBS Sports & News
EARL G. GRAVES, JR.
President and Chief Executive OfficerBlack Enterprise
TIMOTHY E. RADDEN, CLU®, AEP®, CLTC®, ChFC®
Financial AdvisorNorthwestern Mutual
10 2 0 1 6 A N N U A L R E P O R T
The American College Penn Mutual Center for Veterans
Affairs held its annual Clambake event on the shores
of Lake Geneva, Wis., September 15-16, 2016.
A host of decorated speakers were on hand for the
premier fundraising event, and for the presentation of
the 2016 Soldier- Citizen Award. The annual Clambake
event and the work done by the Veterans Center has
funded more than 250 scholarships for active duty
military, veterans, and their spouses. The Center
received close to $1 million in encumbered scholarship
funds through 2016. It awards approximately 70
scholarships annually. About 120 scholarship recipients
were actively studying with The College in 2016.
The 2016 Clambake featured a panel discussion on
"Harnessing Disruption," and featured Prudential CEO
John Strangfeld, Admiral Michael Mullen, and Wall
Street Journal's Daniel Henninger, and was moderated
by Fox News anchor Heather Nauert.
Accepting the Soldier-Citizen Award on Major General (Ret.) Joe Robles' behalf
was retired Vice Admiral John Bird, SVP, Military Affairs at USAA. (L-R) Bob
Johnson, PhD, CFA®, CAIA®, CLF®, Ted Digges (Executive Director-Veterans
Center), John Bird, and tustee Albert "Bud" Schiff, CLU®, CAP®
2016 CLAMBAKE
2 0 1 6 S O L D I E R - C I T I Z E N A W A R D : A N S W E R I N G A H I G H E R C A L L I N G
The American College of Financial
Services established the Soldier- Citizen
Award in 2014 to recognize individuals
in the financial services profession who
have made significant contributions to the
United States military, their community, or
our society.
The American College of Financial
Services is pleased to award the 2016
Soldier- Citizen Award to Major General
(Ret.) Joe Robles.
Via a pre-recorded video, Joe Robles,
former USAA CEO and retired U.S. Army
Major General, told his story of humble
beginnings, and discussed the importance
of lifelong education and the value of
supporting our military and veterans.
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 11
Thank You.
H U E B N E R S O C I E T Y - A N N U A L G I F T S O F $ 2 5 , 0 0 0 A N D M O R E
C H A I R M A N ' S C O U N C I L - A N N U A L G I F T S B E T W E E N $ 1 0 , 0 0 0 T O $ 2 4 , 9 9 9
T R U S T E E ’ S C I R C L E - A N N U A L G I F T S B E T W E E N $ 5 , 0 0 0 A N D $ 9 , 9 9 9
$ 5 0 0 , 0 0 0 A N D M O R E
Cary M. Maguire
$ 1 0 0 , 0 0 0 T O $ 4 9 9 , 9 9 9
George G. Joseph
Carl G. Mammel
James A. Mitchell
Seymour Sternberg
William B. Wallace
$ 5 0 , 0 0 0 T O $ 9 9 , 9 9 9
Gary T. Huffman
Peter W. Mullin
Phillip C. Richards
$ 2 5 , 0 0 0 T O $ 4 9 , 9 9 9
Peter C. Browne
Louis P. DiCerbo II
Richard J. Schindler
Frederick J. Sievert
Elbert Hardy Vaughn, Jr
Daralee S. Barbera
Laurence Barton
James M. Benson
Robert P. Burke
Tammy L. Butts
Ronald L. Carson, Jr.
R. Michael Condrey
George I. Connolly
William Damora
Michael C. Davidson
J. Scott Davison
Jules A. del Vecchio
Michael Doughty
Caroline A. Feeney
R. David Fritz, Jr.
Anthony M. Garcia
Randall H. Harbert
Thomas H. Harris
John Howard
Jerry L. Hulick
Roland J. Hymel, Jr.
Rodger K. Johnson
Joe Kelley
Kelly Kidwell
Leon L. Levy
Richard A. Liddy
Eugene F. LoVasco
Peter J. McAvinn
Eileen C. McDonnell
Patrick J. McNamara
James J. Meehan
Linda S. Need
Knut A. Olson
M. Michael Rooney
Robert B. Plybon
Michael E. Rosenzweig
Todd M. Schoon
Mike F. Scovel
Joel A. Shapiro
Nikki L. Sorum
Steve Valerius
Paul E. Vignone
Doyle J. Williams
Christopher P. Woehrle
Aaron T.Arriola
Kristin L. Barens
Andrew J. Bucklee
Francis D. Burke, Jr.
Kristyn Cook-Turner
Michael J. Corey
Howard B. Cowan
Anthony J. Domino, Jr.
Dennis Lee Eslick
Richard J. Hartung
Fred H. Jonske
Helen O. Kho
Paul A. LaPiana
Heather Nauert
Alan Press
V. Thomas Purcell, Jr.
Reginald N. Rabjohns
John J. Rocco
Albert J. Schiff
Robert D. Shapiro
Eric L. Spindt
Thomas Paul Tooley
Charles H. Walsh
Mark A. Weber
David G. Zick
I N D I V I D U A L G I F T S 2 0 1 6
We are pleased to recognize the generous leadership of donors whose annual
contributions distinguish them for membership in The Huebner Society, The
Chairman’s Council, The Trustee’s Circle, the President’s Circle or the 1927 Society.
12 2 0 1 6 A N N U A L R E P O R T
P R E S I D E N T ’ S C I R C L E - A N N U A L G I F T S B E T W E E N $ 1 , 5 0 0 A N D $ 4 , 9 9 9
David M. Anderson
Dennis M. Axman
David Scott Bahnick
Kevin E. Baldwin
Jeffrey Steven Barton
Adam D. Batchelor
Adam Beck
John D. Becker
J. Philip Bender
Lee V. Bethel
Paul F. Blanco
Tony Dean Blauvelt
Kalita Beck Blessing
Gary P. Bocard
Kurt Bock
Anthony F. Boquet
Jerrold J. Borrowman
Glenn Boseman
Jacob W. Boston
Charles Robert Brown, Sr.
Brian S. Brown
Allen R. Bruce
Michael T. Byrne
Keith W. Cantrell
Edward C. Carson IV
Dee K. Carter
Raymond G. Caucci
Mary K. Chiang
Larry R. Christenson
William J. Christie
Bryan K. Clontz
Randall S. Cole
Susan M. Cooper
C.W. Copeland
Ralph L. Crews
Charles T. Cronin III
Phillip B. Cubeta
William J. Cuff
David A. Culley
Thomas E. Daley
Tina D. Dandry-Mayes
Heather Lynn Davis
John W. DeDominic
Paul L. DeLisio
Todd R. Denton
Jennie D. Derby
Edward D. Digges
Dermot P. J. Dolan
Robert P. Ducato
Chester A. Duke, Jr.
Steven D. Earhart
Robert Eichler
Kathleen A. Erb
Keith A. Erhard
Deborah J. Eskridge Glenn
David Eurich
Saul F. Feingold
Wendy L. Feldman
Alan R. Finkelstein
Dennis R. Fiore
Harris S. Fishman
Timothy C. Flanagan, Jr.
Lily Fong
Matt Foran
A. Scott Foster
Kyle K. Fukuchi
Lee M. Gammill, Jr.
Richard H. Golden
William O. Goodwin
Irwin Gorman
Diane Hack Gould
Mel H. Gregory, Jr.
Stephen T. Guinan
Gerald F. Hall
Robert D. Hall
David M. Hansen
Donald J. Harrington
Theodore R. Hart
Keith W. Hein
Mark F. Heinrich
Gerald J. Herbison
Keith E. Hickerson
Gregory L. Hoernschemeyer
Robert C. Holmes III
Jack C. Hondros
Jamie Patrick Hopkins
Terence L. Horan
L. Stockton Illoway
Stuart Isgur
James A. Jacobs
Michael James
Susan Jamison
Douglas W. Johnson
Robert R. Johnson
C. Sherfy Jones
Joseph W. Jordan
Brian P. Kain
George W. Karr, Jr.
Hratch Kasparian
Arnold M. Katz
Shawn F. Kelley
Stephen C. Kernaghan
Jenny Kho
Johnson O. Kho
David D. Kiecker
Garry D. Kinder
William S. Koch
Ryan James Kramer
Arthur D. Kraus
Theodore T. Kurlowicz
Gloria M. La Grassa
Tod D. Lashway
David F. Lau
Robert H. Leeper
Joel J. G. Lehman
Richard S. Levitz
David A. Littell
Larry T. London
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 13
Thank You.
Anne Long
Ronald E. Long
Kevin Michael Lynch
Timothy P. Malarkey
Dennis J. Manning
William James Marker
Kenneth J. Masters
Anthony T. Mazzei
Edward M. McEvoy
Timothy P. McLanahan
Rana Gidumal McNamara
Michael J. McNeil
Corey D. McQuade
James H. Meanix
Herbert N. Messick III
Kevin E. Miller
David D. Mirabito
Kenneth Charles Mlekush
Mark J. Monroe
Timothy Frank Moore
Robert S. Morette
Donald E. Morris, Jr
James F. Naive
Yuka Nakahara- Goven
John E. Natoli
Carl G. Noble
Kristin A. Nordahl
William D. Olinger
Nicholas H. Palaian
Edwin B. Peacock III
Patti Petersen
Wade Pfau
A. Duer Pierce, Jr.
Jacob Pilibosian
Michael T. Piotrowicz
Richard A. Pope
Frederick W. Prelle, Jr.
Burvin E. Pugh, Jr.
Mark L. Pulaski
Julie Anne Ragatz-Norton
Donald L. Reichert
Barney L. Riesbeck
Benjamin Barrett Sams
Jayne Nemerow Schiff
Linda Schoenthaler
Colleen A. Schueneman
John P. Schwan
Eugene J. Seaman
Nelson J. Secretario
Adam D. Seiden
Brad P. Seitzinger
Adam Todd Sherman
Paul J. Shevlin
Robert T Sinks
Gary R. Sitzmann
Marsha Helen Slater
Richard L. Smith, Jr.*
Cale P. Smith
Joseph Sparacio
John D. Spinetto
Jon S. Stenberg
David J. Stertzer
Glenn Ernest Stevick, Jr.
Maurice L. Stewart
Scott Stolz
Larry O. Sundholm
Forrest Gib Surles
Wendy L. Sutowski
Gary Tang
Stephen D. Tarr
Allen F. Thomas
Guy R. Thomas
Terri N. Thompson
Margaret M. Towle
Jeri L. Turley
James T. Turner III
Lise Twiford
Frederick W. Ulmer III
Andrew G. Uram
Michael Vanelli
Mary C. Varner
Patrick R. Vivier
Brian Patrick Walsh
Amanda Weitman
John G. Wells
Robert J. Wernecke
David F. West
James E. Whistler
David Walter White
David C. Whitney
John J. Whittle
Rockford G. Williams
Paul P. Winkler
Walter J. Woerheide
David F. Woods
Jocelyn Wright
Bryan George Yackulic
1 9 2 7 S O C I E T Y - A N N U A L G I F T S B E T W E E N $ 2 5 0 A N D $ 1 , 4 9 9
Richard B. Alexander
Michael D. Allard
James Fontaine Allen, Jr.
Philip Joseph Amos
David W. Angstadt
Mark W. Anthoine
Faith R. Arter
S. Reed Ashwill
James B. Assali
Robert J. Bacino
Vernon George Baker
Neil G. Ballotte
Travis S. Barnes, Jr.
John F. Barnes
Bruce F. Barr
Spencer Barrett
Francis X. Becker, Jr
Anne C. BeDell
Jeremy Belsky
Joseph J. Bilello
14 2 0 1 6 A N N U A L R E P O R T
Ricky Lee Bingham
Richard O. Blaser
Daniel M. Boardman
Michael A. Bodack
Bradley H. Bofford
William B. Bohmer
Julie A. Bower
Bernard Michael Bowhuis
Richard E. Boyd
Michael C. Bree
Paul J. Brennan
Stuart W. Brink
Chad L. Burch
Joseph T. Burkhard
Bret J. Buterbaugh
James L. Butler
Russell J. Cahill
Robert J. Calhoun
John E. Calles
V. Perry Carter
Mary Ann Casati
Larry A. Catlos
Pam L. Caywood
Henry P. Cerruti
Pandelis P. Chryssostomides
Michael W. Clark
James M. Clary
Joan H. Cleveland
William C. Coffee
Paul G. Cooper
George J. Costakis
Brian M. Cox
William H. Crew III
Clinton J. Crocker
Bradford A. Crockett
Anthony L. Cross
Barbara Cunningham
Bruce J. Cumby
Stephen M. Cunha
Daniel L. Cuprill
Thomas P. Curran
Naomi B. Cusack
Charles L. Cutler
Vasilios K. Danas
Roy G. Daniels
John L. Davis
Timothy H. Davis
Todd Matthew Davis
Thomas A. DeWerth
Cynthia D. Diccianni
Peter T. DiJulio
Stephen C. Dill
Charles R. Dobson, Sr.
Robert G. Domini
David J. Duchene
Martin E. Duggan
Hampton H. Durbin
Kenneth L. Enlow
Keith W. Erdahl
Aaron S. Farnsley
Patrick Fernandez
Nichole M. Fien
David J. Fier
James A. Fischer
Leigh A. Fisher
Robert C. Foster
Toby Foxtrot
Stephen J. Frankl
Michael R. Friedberg
Peter Fulchiron
John J. Gajkowski
Ali Garba
Bernard T. Garrah, Jr.
Jamie Cooper Garza
Paul J. Gaudio
Jules O. Gaudreau, Jr.
Michael R. George
William J. Gillett
Jesse R. Gottlieb
Jeffrey B. Greco
Thomas M. Griffith
David A. Gross
David F. Gwynn
Glenn E. Hain
William C. Handley
Mark S. Hansen
Stan O. Harrison
Larry V. Harvey
Mark W. Havanec
Charles Heinz
Bruce C. Hendrickson
Clay P. Hessel
Jo Ann Hill
Brian T. Hinson
Joseph Hipp
David E. Hitchcock
Lawrence W. Hoffman II
Ronald D. Holman
John E. Horstmann
Christi L. Houser
Joan H. Huang
Casey B. Hudson
Bradley W. Hulse
Paul Duane Hummel
Lois L. Isbell
John R. Jagger
Tonya James-Lowe
David P. Johnson
Keith R. Johnson
Lieselotte F. Kangas
Bruce H. Kantor
Ben A. Kazmierski
Kurt Allyn Kechely
Rick L. Kent
Jennifer Kim
Michael L. Kleen
Thomas C. Klotz
Dennis C. Krol
David A. Kucharski
Jeffrey K. Kutz
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 15
Thank You.
Thomas G. LaBeau
Sharon H. Labelle
Jeffrey G. LaRocco
Bart Lay
Ronald H. Lesieur
Terry Kim Lewis
Julie A. Lich
William G. Loventhal III
Alan Lurty
Massimo A. Magliari
William J. Manby, Sr.
Lisa M. Mancinelli
Charles E. Martin
Kenneth A. Martin
Mark C. McCloy
Christina M. McConnell
David L. Mead
Bradford L. Meigs
C. L. Meigs
Bradley E. Meister
Michael E. Menning
Lorence H. Merritt
Fredric S. Meyers
George Scott Miller
Patricia Lorraine Mione
Thomas J. Mooney
Kim J. Moore
Jane A. Morrison
James C. Mulcare
William R. Mumpower
Mark J. Napolin
Kevin M. Neal
Richard J. Newcomb
Philip P. Nguyen
John A. Nieds
Andres S. Noriega Jr.
Donald E. Oates
Patrick J. O’Connor
Gilda Lee Olson
Gustave Ozag
Bruce G. Parker, Jr.
Bradley D. Patrick
Lyle Richard Paul
Anton Pawlowski
Gerald A. Peter
Joseph D. Potosky
Rodger Premeau
Dennis A. Prentice
John S. Pugh
David A. Ramirez
David A. Rando
Richard J. Rathert
Winston S. Ray
John R. Reher
Karl G. Reinhold
Lora J. Reinholz
David K. Reiter
Charles L. Reynolds
David Andrew Reynolds
Andrew J. Rinn
Janet S. Rood
Ronald S. Rosbruch
Grace F. Rossman
R. Philip Sarnecki
Michael J. Scalera III
Gregory B. Schaeffer
Marilynn K. Scherer
David W. Seward
Amir Shah
Mansukh J. Shah
Mark J. Sheahan
William V. Sheehy III
Peter D. Shelp
Jelynda A. Sherrill
Walter J. Shields
Georgia A. Shultz
James B. Smith
Ronald B. Smith
Raymond L. Soto
Jean A. St. Pierre
Sean Stannard- Stockton
Matthew D. Starkey
Charles R. Stephan, Jr
Kristine H. Stewart
James M. Stuart
Gerald O. Summers
Donald J. Swanson
Michelle J. Sweeney
Eric K. Takao
Marc Lee Tannenbaum
Gary F. Terry
Michael P. Trapani
Christine L. Travis
Brian A. Trippiedi
Rebecca D. Turner
Charles Thomas Ulmer
James R. Vandersluis
Todd A. Veillon
Wayne D. Wagner, Jr.
Thomas L. Walker
Lawrence E. Wall
Jeffrey B. Wallace
Clifford Sewall Webster
Eleanor Lynn Weirich
R. Ray Westfall
Stephen M. Westlake
H. James Wheeler
Curtis R. Wiedeman
Brian P. Winfield
Kenneth L. Winter
Samuel G. Wurtzel
George S. Yackulic
Broderick L. Young
Carl William Zeidler
Robert F. Zesch
Daniel Zlotnick
Michael G. Zorio
16 2 0 1 6 A N N U A L R E P O R T
$ 1 , 0 0 0 , 0 0 0 & M O R E
Joseph E. Boettner*
Frank M. Engle*
Richard D. Irwin*
Cary M. Maguire
James A. Mitchell
Roy O. Mitchell*
William B. Wallace
$ 5 0 0 , 0 0 0 T O $ 9 9 9 , 9 9 9
Jarrett L. Davis III
Louis P. DiCerbo II
Gloria M. La Grassa
Richard A. Liddy
Edward E. Packell*
Reginald N. Rabjohns
Frederick J. Sievert
Charles R. Wright*
Charles J. Zimmerman*
$ 3 0 0 , 0 0 0 T O $ 4 9 9 , 9 9 9
Eleanor W. Allen*
John W. Allen*
Margaret I. Bradshaw*
Brian S. Brown
Harold Caplan*
Michael C. Davidson
Henry A. Deppe*
William O. Goodwin
James P. Poole*
Charles L. Post*
Phillip C. Richards
Seymour Sternberg
Daniel J. Toran*
Warren T. Wamberg
$ 1 7 5 , 0 0 0 T O $ 2 9 9 , 9 9 9
Robert W. Barth*
Laurence Barton
William H. Beckley
Peter C. Browne
Ben Feldman*
Millard J. Grauer*
Joseph W. Jordan
Barry Kaye
Robert L. Levin*
Carl G. Mammel
Charles D. Marks
Robert B. Plybon
John J. Rocco
Albert J. Schiff
Todd M. Schoon
Eugene J. Seaman
Joel A. Shapiro
Jack B. Turner
E. Hardy Vaughn, Jr.
William T. Walsh*
Thomas J. Wolff *
Stanley A. Zur*
$ 1 0 0 , 0 0 0 T O $ 1 7 4 , 9 9 9
Beryl Allison*
Robert A. Beck*
James M. Benson
Christopher O. Blunt
Vincent C. Bowhers*
Ralph E. Brown, Jr.
William S. Cochran*
Anthony J. Domino, Jr.
Ethel B. Feldman*
Sidney A. Friedman*
O. Alfred Granum*
Gary T. Huffman
George G. Joseph
George W. Karr, Jr.
Arnold M. Katz
Arthur D. Kraus
Leon L. Levy
Ronald E. Long
Eileen C. McDonnell
Peter W. Mullin
F. Turner Munsell*
Foster E. Murphy
Linda S. Need
Thomas J. O’Haren*
Ronald M. Park
Michael E. Rosenzweig
Paul E. Vignone
Thomas B. Wheeler
$ 5 0 , 0 0 0 T O $ 9 9 , 9 9 9
William H. Andrews, Jr.*
Benjamin G. Baldwin, Jr.
Lee V. Bethel
Lyle L. Blessman
Debra G. Boblitt
Daniel M. Brigham*
Elton H. Brooks*
Emil A. Budnitz, Jr.*
John B. Carter*
John R. Cassin
Robert E. Chappell
Patrick J. Collins
Michael J. Corey
Howard B. Cowan
Ernest E. Cragg*
Ralph L. Crews
John W. Cruikshank III
Anthony C. Cubellis*
Ralph Davis, Jr.
J. Scott Davison
David Q . Day
Jules A. del Vecchio
John R. Driskill
Chester A. Duke, Jr.*
Brian H. Early*
William Elliott*
Salvatore F. Farina
Edward J. Feiman
Saul F. Feingold
Samuel J. Foti
Frank Friedler, Jr.*
Anthony M. Garcia
Seymour Geller
Peter A. Golato
L I F E T I M E G I V I N G
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 17
Thank You.
John W. Greene, Jr.*
Donald R. Haas*
Harry Haiblum*
Sanford B. Halperin *
Randall H. Harbert
Robert D. Harris*
Thomas H. Harris
Salene Hitchcock- Gear
Ernest L. Hogan*
Harry P. Hoopis
Jerry L. Hulick
Thomas P. Huntington*
Roland J. Hymel, Jr.
E. Dunbar Jewell
Charles C. Jones*
Fred H. Jonske
Allan M. Kaplan
Joe Kelley
Stephen A. Kramer*
Theodore T. Kurlowicz
Eugene F. LoVasco
Dennis J. Manning
John A. McCole*
John W. McTigue
David L. Mead
James J. Meehan
Carl F. Mehlhop*
Donald H. Mehlig
Joseph J. Melone
Keith Miller*
Frank Nathan*
Paul Farquharson Noble*
William T. O’Donnell
Bruce G. Parker, Jr.
Nathan M. Perlmutter
W. Harold Petersen
John B. Peyton*
Larry R. Pike*
Alan Press
Sumner Rodman*
Donald L. Shepherd*
Paul J. Shevlin
Walter J. Shields
Allen A. Skogebo
David W. Smith
Gary J. Sohigian*
Nikki L. Sorum
John E. Steger
Irving N. Stein*
Maurice L. Stewart
Frank E. Sullivan*
Stanley B. Sworski
M. Michael Teichman*
Robert W. Verhille
Michael J. Vietri
Susan D. Waring
Samuel H. Weese
David F. West
James E. Whistler
David C. Whitney
Doyle J. Williams
David F. Woods
Edmund L. Zalinski*
David G. Zick
$ 2 5 , 0 0 0 T O $ 4 9 , 9 9 9
William H. Agnew*
Mark F. Alder
Dan W. Anderson
R. Allen Angell
Paul Arst*
Hartman Axley
Dennis M. Axman
Guy E. Baker
Thomas J. Bash*
Richard M. Bauhof
Sam E. Beller
Roberta Berger*
Robert Bland
Stephen G. Bolyard*
Jerrold J. Borrowman
Glenn Boseman
Marvin D. Bower
David M. Briggs
Abram I. Brustein
Andrew J. Bucklee
Robert P. Burke
Dickson C. Buxton
Lee B. Canfield*
Walter M. Cardinet, Jr.
Ronald L. Carson, Jr.
James Cerone, Jr.
Tai Yau Chung*
Daniel S. Coelho*
Paul W. Colflesh*
R. Michael Condrey
George I. Connolly
Paul W. Cook*
Susan M. Cooper
Steven R. Craig*
Charles T. Cronin III
John W. Cronin
David A. Culley
William Damora
Paul L. DeLisio
George W. S. Denton*
R. Paul Dodd
Bryan C. Dunn
Jay R. Eagan
Catherine Lynn Eckardt
Dwayne A. Edelstein*
Alfred O. Elder
Gladys H. Engle*
Keith A. Erhard
Jean F. Essex*
George V. Exner*
Mehdi Fakharzadeh
Caroline A. Feeney
Neal R. Fegely
William W. Fenniman
Alan R. Finkelstein
Harris S. Fishman
William E. Ford*
Gene L. Foxen
R. David Fritz, Jr.
Gary R. Froid*
Kenneth L. Fry, Jr.
18 2 0 1 6 A N N U A L R E P O R T
Leo R. Futia*
Lee M. Gammill, Jr.
James Levering Garard III
Frederick M. Goodwin, Jr.
Shelley S. Goren*
Irwin Gorman
Diane Hack Gould
Davis Gregg*
Mel H. Gregory, Jr.
J. Barry Griswell
Floyd E. Guest, Jr.
William K. Halliburton
Allan G. Hancock
George Handler
Ann W. Hartmann
Dermot Thomas Healey
Keith W. Hein
Gerald J. Herbison
Keith E. Hickerson
Phillip J. Hildebrand
David H. Hilton*
Ivan C. Hinrichs
Vernon W. Holleman, Jr.
Jack C. Hondros
Terence L. Horan
Will S. Hornsby III
Donald R. Houser*
Joseph W. Huver
John Irvin
Donald C. Jayne, Jr.
Douglas W. Johnson
Edwin T. Johnson*
Rodger K. Johnson
Robert S. Jones, Jr.*
C. Sherfy Jones
De Witt Jones*
Douglas W. Jones
Richard M. Kagan
Norman W. Kamerow
James T. Kane, Jr.*
Hratch Kasparian
Jenny Kho
Robert E. Kiley
Garry D. Kinder
Victor W. Kirsch
James H. Krueger*
Bartholomew Larocca
Fletcher C. Larson
David F. Lau
Bobby L. Layman
H. Kirke Lewis*
Stephen F. Libby
Robert D. Lowrey
Peter J. McAvinn
David C. McAvoy
Bernard P. McDonough
Thomas L. McLeary
Miles W. McNally*
Patrick J . McNamara
Kenneth L. Means*
Robert E. Meeker, Sr.*
Joseph F. Meier
Richard J. Miller
Stanley E. Miller
Kenneth C. Mlekush
James G. Morgan
Denis F. Mullane
Deanna M. Mulligan
Thomas W. Myers
James F. Naive
Yuka Nakahara- Gove
James J. Nemec
Kenneth J. Newfarmer*
Donald C. Newton*
John F. Nichols
Maxine B. Niemeyer*
Knut A. Olson
Thomas J. Patton
Leo V. Petrini
A. Duer Pierce, Jr.
Jacob Pilibosian
Lisa H. Powell
Robert W. Powell
Wilmer S. Poynor III
Arlen I. Prentice
Frank L. Rainaldi*
Parthasarathy Rajagopalan
Jack C. Raskin
Carl H. Reinhardt
Thomas R. Richards
William C. Robertson
M. Michael Rooney
Ronald S. Rosbruch
Harry Rosen*
Lester A. Rosen*
James D. Rosenbaum
David R. Rubinowitz*
David E. Sams, Jr.
Robert C. Savage
Jayne N. Schiff
Richard J. Schindler
Mike F. Scovel
Robert D. Shapiro
William F. Shean, Jr.
Mark W. Sheffert
Raymond A. Silva
Morris A. Silverman*
Robert J. Sims
Gary R. Sitzmann
Bernard A. Sloane
Joseph Sparacio
Eric L. Spindt
Paul L. Stein
Ron Stever*
Donald F. Stoner*
Eugene H. Storms
Donald P. Sullivan
Eric K. Takao
Stephen D. Tarr
John R. Telich, Sr.*
Guy R. Thomas
John O. Todd*
Louis J. Toia*
James T. Turner III
David L. Vear*
Stephanie A. Walsh
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 19
Thank You.
Clarence Walton*
Robert F. Weaver*
Thomas L. Webb
Mark A. Weber
Robert J. Wernecke
Harold L. Wilshinsky
Christopher P. Woehrle
Barry L. Wolfe
Benjamin N. Woodson*
I N D E P E N D E N C E G U I L D
The Independence Guild is the legacy society of The American College
of Financial Services and reflects individuals and certain organizations
who have made planned and deferred gifts.
Rosemary T. Aitken
David B. Allen
David G. Allen*
Eleanor W. Allen*
John H. Allen
John W. Allen*
Eugene J. Altstatt
Dan W. Anderson
Sandra L. Anderson*
R. Allen Angell
Stuart A. Appel
Rudolph Arkin
Donald T. Ash
Timothy M. Babbert
Michael O. Babin
Joseph M. Backes
John T. Baier
Robert W. Bailey
Thomas W. Bailey
Guy E. Baker
John W. Baker
Benjamin G. Baldwin, Jr.
Robert Michael Ball
Kristin L. Barens
Russell C. Barlow*
Walter Barnes, Jr.
John M. Barry
Robert W. Barth*
Larry and Eliza Barton
John R. Bartram
Thomas J. Bash*
Roland J. Basinski
John A. Batza
J. Gary Beagin
Robert A. Beck*
William H. Beckley
Kenneth R. Beesley
Donald D. Beeson
Charles Edwin Belcher
Dennis J. Bell
Sam E. Beller
Fred W. Beltz III
Dan A. Bench
David G. Benedict
James M. Benson
Warren G. Berger III
Ronald J. Bergstrom
Arthur B. Berk*
Lawrence J. Bernard
Ronald W. Beshear
Lee V. Bethel
Ronald Edward Bishop
Stephen J. Blakesley
Gregory D. Blanchard
G. James Blatt, Jr
Garrett J. Bleakley
Christopher O. Blunt
Debra G. Boblitt
Gary P. Bocard
Roger C. Boeger
Bradley H. Bofford
Robert H. Boisvert
Cynthia R. Bolker
Frederick S. Bolyard
Stephen G. Bolyard*
Joseph S. L. Bonin
Lawrence F. Boord
Robert J. Born
Jerrold J. Borrowman
Jacob W. Boston
Thomas A. Bott II
Larry E. Botts
Vincent C. Bowhers*
Charles R. Boyd
David E. Boynton
Charles N. Bracht
Steven R. Braden
Margaret I. Bradshaw*
Stephen R. Braswell
William J. Braun
Terry L. Breitbord
John A. Briner
J. C. Brinsfield
William V. Brody
Elton H. Brooks*
Ralph E. Brown, Jr.
Brian S. Brown
20 2 0 1 6 A N N U A L R E P O R T
Lee B. Brown*
M. Wendell Brown
Rice E. Brown
Peter C. Browne
Allen R. Bruce
Vincent P. Brueggeman
Daniel E. Brunette
John H. Bullock, Jr.
Edward A. Burch
Glenn R. Burell
Andrew J. Burger
Francis D. Burke, Jr.
Joseph T. Burkhard
Dennis E. Butler
Dickson C. Buxton
Daniel Cafolla
Linda A. Cahill
Robert J. Calhoun
Albert G. Call III
John E. Calles
Juan E. Calles
Donald S. Cameron
John D. Campbell, Jr.
W. Harrison Campbell
Lee B. Canfield*
Harold Caplan*
Curtis Carey
Peter Grant Carey
Byron L. Carlson
Kirt W. Carstens
John B. Carter*
Robert A. Carter
John R. Cassin
Milton M. Cerf
James Cerone, Jr.
Steven H.K. Chang
Robert E. Chappell
Marcus C. S. Cherry*
Martin Cherry*
Herbert L. Cheskis
Beverly T. Chrisman
Adelia C. Chung
Tai Yau Chung*
James M. Clary
William S. Cochran*
William H. Coleman, Jr.
Paul W. Colflesh*
Patrick J. Collins
Robert E. Collins*
R. Michael Condrey
Susan M. Cooper
Deborah L. Copeland
Howard B. Cowan
Dennis C. Crawford
Cheryl D. Creuzot
Ralph L. Crews
Charles T. Cronin III
John W. Cronin
Dudley R. Crow
John W. Cruikshank III
Anthony C. Cubellis*
David A. Culley
John R. Cushing
Gilfred L. Daigle*
William Damora
Anna L. Daniels
Roy G. Daniels
Richard E. Darrah
Joseph D. Davenport
Kathleen Turan Davenport
Paul L. Davidson, Jr.
Michael C. Davidson
Jarrett L. and Mary V. Davis
Ralph Davis, Jr.
David Q . Day
Lee R. Dean
John W. DeDominic
Jules A. del Vecchio
Tony M. DeLeon
Thomas L. Deleot
Paul L. DeLisio
Paul K. Dell*
Sara Kay Dempsey
John J. Dennison
George W.S. Denton*
Richard M. Denton
Henry A.* and Florence* Deppe
Robert A. Derrenbacker
Ralph E. DeWerff
Louis P. DiCerbo II
Monroe M. Diefendorf, Jr.
Dwayne A. Dietze
Arvid Dike
Charles R. Dobson, Sr.
Anthony J. Domino, Jr.
Anthony J. Domino, Sr.*
Robert V. Donovan
David J. Downey
John R. Driskill
Kirk P. Dryden
Bernard E. Duhaime
Chester A. Duke, Jr.
Lucy Dulin*
J. Terrance Dunn*
Robert C. Dye
Jay R. Eagan
Brian H. Early*
Catherine Lynn Eckardt
Dwayne A. Edelstein*
Kenneth R. Ehinger
Alfred O. Elder
Donald B. Elliott*
Stephan A. Elliott
O. Lee Elrick, Jr.
Frank M. Engle*
Aaron L. Epstein*
Keith A. Erhard
Jean F. Essex*
George V. Exner*
Salvatore F. Farina
Frank J. Farrington
Gil L. Fash
Caroline A. Feeney
Neal R. Fegely
Edward J. Feiman
Saul F. Feingold
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 21
Thank You.
Ben Feldman*
Charles J Feldman
Wendy L. Feldman
Martin A. Fennewald
William W. Fenniman
Terry G. Fenwick
Charles I. Ferrara
Robert J. Fincham, Jr.
Alan R. Finkelstein
C. Robinson Fish III*
Carmen T. Fish
Harry I. Fisher, Jr.*
William H. Flammer, Jr.*+
Wayne N. Fleischer
Dennis A. Flem
Gary L. Flotron
Thomas F. Flournoy III
Thomas F. Flournoy*
Michael M. Flynn
Lewis W. Fogel
Maureen M. Foley
Arnold G. Ford
Curtis B. Ford
William E. Ford*
Daniel C. Fortier
A. Scott Foster
Samuel J. Foti
Joseph Edward Fox
Gene L. Foxen
Timothy J. Freeman
Frank Friedler, Jr.*
Sidney A. Friedman*
Gary R. Froid*
Paul S. Frommer
Kenneth L. Fry, Jr.
Joseph A. Fulkerson
Lee M. Gammill, Jr.
James Levering Garard III
Charles E. Garrity
Seymour Geller
Nancy Boos Georgen
Richard M. Geriner
Campbell T. Gerrish, Sr.
John T. Ghegan
Peter A. Golato
Julian Herman Good, Jr.
Stanley F. Goodin
Fredric E. Goodman
William O. Goodwin
Shelley S. Goren*
Thomas E. Goris, Jr.
Diane Hack Gould
Millard J. Grauer*+
Nancy H. Green
Olen C. Green*
Ronald J. Greenberg
John W. Greene, Jr.
John H. Greene
J. Barry Griswell
Frank F. Haack, Jr*
Donald R. Haas*
Jason S. Hackmann
Angelo A. Haddad
Harry Haiblum*
Joseph Leonard Hale
William K. Halliburton
Sanford B. Halperin *
Allan G. Hancock
Calvin L. Hannah
Randall H. Harbert
Robert D. Harris*
Thomas H. Harris
Randall D. Hart
Richard L. Hartmann
Kevin J. Hassan
Karen Bloch Hausler
Thomas M. Hawco
Jack D. Hayes
John E. Hazard
Dermot Thomas Healey
Frank G. Heitker
Wayne A. Hellbusch
Ned D. Helmuth*
Thomas S. Henderson
Robert G. Hengelfelt*
Willard L. Hensel
John C. Hensley, Jr.
Donald J. Herzog
Phillip J. Hildebrand
Richard L. Hill
Robert P. Hill
David H. Hilton*
Warren C. Hodges
Austin E. Hodgkins, Jr.
Gregory L. Hoernschemeyer
Noralie J. Hoffman
David F. Hokanson
George O. Holland
Vernon W. Holleman, Jr.*
Harry P. Hoopis
Gerald D. Hoppe
Terence L. Horan
Will S. Hornsby III
Donald R. Houser*
Anita J.M. Hsiao
William R. Huey, Jr.
John P. Huntington
Thomas P. Huntington*
Joseph W. Huver
Roland J. Hymel, Jr.
Leonard J. Ialeggio
John Irvin
Richard D. Irwin*
J. Curtis Jacob
John R. Jagger
Donald C. Jayne, Jr.
Marvin B. Jaynes*
William D. Jefferson*
E. Dunbar Jewell
Alfred C. Johnson
Douglas W. Johnson
Edwin T. Johnson*
Rodger Keith Johnson
Steve K. Johnston*
C. Sherfy Jones
Charles H. Jones
22 2 0 1 6 A N N U A L R E P O R T
George G. Joseph
Harris E. Kagan
Richard M. Kagan
Terri R. Kallsen
James T. Kane, Jr.*+
Allan M. Kaplan
Ronald F. Karabian*
George W. Karr, Jr.
Amy M. Kates
Arnold M. Katz
Barry Kaye
Kurt Allyn Kechely
Jack Arnold Kelley, Jr.
Joe Kelley
R. Gene Kent
John S. Kerr
Robert Henry Kerrigan
Thomas D. Kienlen
James H. Kihneman, Jr.
Robert E. Kiley
Kevin C. Kingston
Victor William Kirsch
Clayton J. Klein
Stanley B. Kline
Thomas C. Klotz
Michael J. Kraft
Stephen A. Kramer*
Arthur D. Kraus
Lanny N. Kuehl
Theodore T. Kurlowicz
Gloria M. La Grassa
Tamarine Lackey
Christopher J. Larger
Bartholomew Larocca
Conrad J. Larsen
Fletcher C. Larson
Liam A. Leary
Louis G. Leblanc
Leslie S. Leeper*
Robert R. Lehmert
Elliot G. Lengel*
Ronald H. Lesieur
James C. Lester
Robert L. Levin*
Sidney Levine
Leon L. Levy
H. Kirke Lewis*
Stephen F. Libby
Donald E. Lippencott
Leroy E. Lohman
Ronald E. Long
Joseph D. Longo
Eugene F. LoVasco
William G. Loventhal III
Robert D. Lowrey
Edick A. Lucas
Gerald L. Lukton
Parker L. Lyda
Michael Howard Lyman
J. Peter Lyons
Malcolm D. MacKinnon
Timothy P. Malarkey
Patricia A. Mann
Dennis J. Manning
Charles D. Marks
Arnold P. Masinter
Kenneth J. Masters
Robert E. Mathis
Donna J. Matzko
Michael V. May
Raymond J. May
Frank D. McArthur II
David C. McAvoy
John K. McCallum, Jr.
Eileen C. McDonnell
Joseph C. McGee
Raymond W. McHale, Jr.
Wayne O. McHargue
David N. McIntyre
Kimberly J. McKown
Robert F. McKown
Timothy P. McLanahan
Miles W. McNally*
Patrick J. McNamara
John W. and Vanessa McTigue
David L. Mead
Dexter M. Means
Kenneth L. Means*
Robert B. Mecklenborg
Andrew John Meehan
James J. Meehan
Carl F. Mehlhop*
Donald H. Mehlig
John Meisenbach
Ned Reed Meisner
Joseph J. Melone
Alan L. Meltzer
Jorge E. Mercado
Joseph R. Mercier
Sherburn W. Merrill, Jr.
Carl W. Middleton III
Anthony D. Miller
Keith Miller*
Stanley E. Miller
James A. and Linda R. Mitchell
Roy O. Mitchell*
Kenneth Charles Mlekush
James Brent Moore
Anthony Morris VII
Donald E. Morris, Jr.
John T. Mulheran
Denis F. Mullane
Peter W. Mullin
A. Douglas Murch*
John H. Myaard
Thomas W. Myers
James F. Naive
Yuka Nakahara- Goven
Roland S. Nebeker
Linda S. Need
Warren A. Negri, Jr.
William R. Neville, Sr.
Kenneth J. Newfarmer*
Glenn W. Nichols*
George R. Nicholson, Jr.
Paul M. Nick
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 23
Maxine B. Niemeyer*
Paul Farquharson Noble*
Glenn L. Noland
C. Bayne Northern
Kevin J. O'Connor
Kevin S. Odell
Thomas J. O'Haren*+
Carolyn J. Ohlfest
Martha N. Olmstead
Raymond R. Olmstead*
Erik A. Olsen
David M. O'Malley
Robert K. Ostberg
Mitchell W. Ostrove
Edward E. Packell*
Bruce G. Parker, Jr.
Stacey M. Pavone
Ralph I. Pence
Robert H. Perkins*
Nathan M. Perlmutter
Kenneth W. Petersen
Linder P. Peterson
Robert L. Pethtal
Leo V. Petrini
John B. Peyton*
Harry Phillips III
A. Duer Pierce, Jr.
Larry R. Pike*
Roger D. Pinneo
James D. Pittman
Steven A. Plewes
Robert B. and Mary Plybon
James P. Poole*
Wilmer S. Poynor III
Jonathan J. Pratt
Alan Press
Robert V. Price, Jr.
James E. Prickett
Earl S. Prolman
John S. Pugh
John M. Qualy
Kirk Quaschnick
Joseph Ralph Radovic
Frank L. Rainaldi*
Dwain P. Ramlo
Stephen G. Ray
Randall D. Reichenbach
Lloyd L. Reynolds
Thomas R. Richards
John R. Richmond
George Nelson Ridings
Penny K. Righthand
David E. A. Riker
David S. Rinsky
John F. Rippinger
Ezra H. Ripple IV
John J. Rocco
Sumner Rodman*
Howard F. Roeding, Jr.
Charles A. Rogers, Jr.
C. Michael Rogers
Donald M. Rogers*
Warren A. Romaine, Jr.
M. Michael Rooney
Ronald S. Rosbruch
Mitchell Dean Rosenberg
Michael E. Rosenzweig
David R. Rubinowitz*
James W. Rutledge
Ronald A. Sacks
Robert B. Sathe
Frank F. Schambach
Gail M. Schank
Robert V. Schechter*
Scott D. Scheer
Albert J. Schiff
Jayne Nemerow Schiff
Paul F. Schoenfeld
Todd M. Schoon
Richard Schornstein, Jr.
Richard Walter Schubert
Raymond J. Scott
Mike F. Scovel
Ellen Brauer Seaman
Eugene J. Seaman
Joel A. Shapiro
Stephen C. Shaw
William F. Shean, Jr.
Claus H. Shelling
Paul J. Shevlin
Walter J. Shields
John S. Shondel
Frederick J. Sievert
Raymond A. Silva
Morris A. Silverman*
Timothy L. Sims*
I. Michael Singer
W. Clyde Sisson*
Gary R. Sitzmann
Allen A. Skogebo
David W. Smith
Mark B. Smith
Mary P. Smith*
Gary J. Sohigian*
Mark and Paula Solomon
N. W. Jerry Solomon
Mark Sorlie
Neil P. Sorum*
Nikki L. Sorum
Paul S. Soule*
Glenn E. Sowalskie
Robert I. Spak
David L. Sparks
Morton E. Spitzer
Robert B. St. John
James H. Stanley
Ronald T. Stansell
Jolene S. Starr
Dianne Yvonne Steffey
Michael C. Steffey
John E. Steger
Irving N. Stein*
Paul L. Stein
Seymour Sternberg
Colleen M. Stevens
Stephen B. StoneThank You.
24 2 0 1 6 A N N U A L R E P O R T
Thank You.
Donald F. Stoner*
Dennis Gary Stork
Eugene H. Storms
Frank E. Sullivan*
John E. Sullivan
Peter W. Sullivan
Calvin S. Sumner
Jose S. Suquet
Georgia J. Suranofsky
F. Gib Surles
James W. Tait
Eric K. Takao
David R. Tarella
Stephen D. Tarr
Wyllys H. Taylor, Jr.*
Joe P. Teague
Robert L. Tedoldi
M. Michael Teichman*
Robert A. Tewes
Neil D. Theriot
A. Richard Thiernau
Jeffrey E. Thol
Guy R. Thomas
Wayne E. Thomas
Arthur H. Thompson
William G. Thompson
Christopher G. Tobey
John O. Todd*
Louis J. Toia*
Daniel J. Toran*
Dennis M. Travlos
Jeri L. Turley
Jack B. Turner
John S. Tuttle
Terry T. Uchida
Martin P. Umbach
Gary L. Vander Werff *
Larry M. VandeVen, Jr.
William VanWinkle
John D. Varner
Elbert Hardy Vaughn, Jr.
David L. Vear*
Robert W. Verhille
Michael J. Vietri
Paul E. Vignone
Raymond Vitek, Jr.
Curtis J. Vrieland
Richard A. Wadsworth
Julius F. Wagner*
Thomas G. Walder
William B. and Sallie B. Wallace
Stephanie A. Walsh
William T. Walsh*
Robert Joseph Waltos, Jr.
Susan Doenges Waring
Lamar Weaver
Robert F. Weaver*
Thomas R. Weaver
Thomas L. and Mariam Webb
Mark A. Weber
Richard M. Weber
Richard A. Wecker
Samuel H. Weese
Norbert A. Weisbeck
Earl L. Weiser
Sharon G. Welch-Blair
Calvin Don Welling
David F. West
Thomas B. Wheeler
James E. Whistler
Bernard R. Whitehill
N. Susan Whittington
Lawrence Wiener
Roger A. Wikstrom
Dale S. Williams, Jr.
Joseph P. Williams, Jr.
Harold L. Wilshinsky
Thomas J.* and Bette Wolff
Marshall I. Wolper*
Robert D. Wombwell, Jr.
Ronald I. Woodmansee
David F. Woods
James R. Worrell, Sr.
Charles R. Wright*
J. Lamar Wright
Richard L. Wright
Jimmy R. Youell
Joe D. Young*
Edmund L. Zalinski*
David G. Zick
Charles J. Zimmerman*
Freda J. Zimmerman
Stanley A. Zur*
Ameritas
Boston Chapter S.F.S.P.
Greater Chicago Chapter S.F.S.P.
Society of Financial Service
Professionals
New York Life Insurance Company
*Deceased
+Proceeds received during 2016
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 25
Thank You.
M I L L A R D J . G R A U E R , C L U ®, C h F C ®
Former trustee Millard J. Grauer died on September 5,
2016, at the age of 89. Grauer served as a trustee from
1985-1992, and again as an ex-officio trustee from 1994-
1995. He also received the Huebner Gold Medal in 2000,
the highest honor awarded by The College.
In addition to his service to The College, Grauer was
widely known for his leadership in the financial services
profession. During his distinguished career, Grauer served
as president of numerous highly respected organizations,
including the Million Dollar Round Table, the Society of
Financial Service Professionals, and the Jewish Council
for Youth Services. The Illinois native and proud Navy
veteran was also the recipient of the John Newton Russell
Memorial Award of the National Association of Insurance
and Financial Advisors.
A member of The College’s Independence Guild, which
is the legacy society recognizing those individuals who
have made planned and deferred gifts, Grauer gifted a life
insurance policy to The College providing over $156,000.
Robert Johnson, President and CEO of The American
College of Financial Services, said, “In keeping with the
best traditions of the educational institution he loved, Mr.
Grauer demonstrated a commitment to the highest ethical
and professional standards. We are humbled and honored
by his generosity and support. His gift will touch many
lives here at The College and within the financial
services profession.”
T H O M A S J . O ’ H A R E N , C L U ®, C h F C ®
Former trustee Thomas J. O’Haren passed away on
November 30, 2016, at the age of 82. O’Haren served
on the Board of Trustees from 1998 to 2002. He also
served as Chairman of The College’s Foundation Board
of Directors and continued to serve as emeritus director.
In 2006, O’Haren received The College’s highest award,
the Huebner Gold Medal.
A native of Shenandoah, Pa., O’Haren served in
the United States Navy as an aviator, and earned a
B.S. in Finance from Penn State in addition to the
designations he earned from The College. He went
on to a distinguished career, retiring as general agent
and manager for Connecticut General Life Insurance
Company. O’Haren was recognized as a visionary leader
in the insurance and financial services profession.
He was a life member of the Million Dollar Round Table,
earning Top of the Table status. He also was a past
Chairman of the Board of the GAMA Foundation and
was inducted into the GAMA Hall of Fame.
O’Haren was a longstanding and generous supporter
of The College. He was recognized as a Golden Key
role model and an ACE Endower. He also contributed
to the President’s Circle and Independence Guild.
O’Haren gifted a $50,000 life insurance policy to benefit
academic programs. His lifetime giving to The College
was in excess of $130,000.
IN MEMORIAM
26 2 0 1 6 A N N U A L R E P O R T
$ 1 , 0 0 0 , 0 0 0 A N D M O R E
New York Life Insurance Company and New York Life Foundation
$ 5 0 0 , 0 0 0 T O $ 9 9 9 , 9 9 9
MassMutual Financial Group
$ 1 0 0 , 0 0 0 T O $ 4 9 9 , 9 9 9
M Financial GroupNorthwestern Mutual Life Insurance Company and Northwestern Mutual FoundationPacific Life Insurance Company and Pacific Life FoundationPrudential Financial and Prudential FoundationSecurian Financial Group, Inc.
$ 5 0 , 0 0 0 T O $ 9 9 , 9 9 9
Metropolitan Life Insurance Company and Metropolitan Life Insurance Company FoundationSaybrus Partners, Inc.
$ 2 5 , 0 0 0 T O $ 4 9 , 9 9 9
COUNTRY FinancialLincoln Financial Group, Inc. and FoundationLongbridge Financial, LLCOhio National Life FoundationOne Reverse Mortgage, LLCPenn Mutual Life Insurance CompanySynergy One LendingVoya Foundation
$ 1 0 , 0 0 0 T O $ 2 4 , 9 9 9
Ameritas Life Insurance CorporationAmerican Advisors GroupCNO Financial Group, Inc.First Command Educational FoundationLife Quotes, Inc.RGA Reinsurance CompanySE2The Guardian Life Insurance Company of AmericaThrivent Financial for Lutherans Foundation
$ 5 , 0 0 0 T O $ 9 , 9 9 9
ForestersHoopis Performance NetworkMONY Life Insurance CompanyNationwide FoundationState Farm Companies FoundationThe Chicago Community Foundation
$ 1 , 0 0 0 T O $ 4 , 9 9 9
Ameriprise FinancialAXA Equitable Financial Services and AXA FoundationCharles Schwab CorporationNational Financial Services, LLCWells Fargo and Wells Fargo Foundation
L E S S T H A N $ 1 , 0 0 0
Aetna FoundationAllstate Foundation
We are grateful for the generous support received from companies,
foundations and organizations. The giving recognized below
includes direct contributions as well as corporate matching gifts.
Companies, Foundations and Other Organizations
Thank You.
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 27
Board of Trustees 2016 R E P R E S E N T S B O A R D M E M B E R S T H R O U G H T H E E N D O F D E C E M B E R 3 1 , 2 0 1 6
Andrew G. Aiello, CPA Merrill Lynch
David M. Anderson
Daralee S. Barbera, CFP®, CMFC®, CLF®, ChFC®
Wendy A. Benson MassMutual Life Insurance Co.
Lee V. Bethel, CLU®, ChFC®, REBC®, RHU®, CAP®, ChHC® Comprehensive Benefit Services, Inc.
James J. Carbone, MSFS, MSM, LUTCF®, CLU®, ChFC®, CLF®
Ron Carson, CFP®, ChFC® Carson Wealth Management Group
George I. Connolly, JD, CLU®, ChFC® Securian Financial Group
J. Scott Davison, CLU®, ChFC® OneAmerica Financial Partners, Inc.
Anthony J. Domino, Jr., MSFS, CLU®, ChFC®, CAP® Associated Benefit Consultants, LLC
Michael Doughty John Hancock Insurance
Caroline Feeney, CLU®, ChFC® The Prudential Insurance Co. of America
Anthony M. Garcia Foresters
Randall H. Harbert, CLU® State Farm Insurance Companies
Thomas H. Harris, CLU®, ChFC® Penn Mutual Life Insurance Co.
John M. Howard BB&T Insurance Holdings
Gary T. “Doc” Huffman, CLU®, ChFC® – Chair Ohio National Financial Services
Robert R. Johnson, PhD, CFA®, CAIA® (Ex officio) The American College of Financial Services
Fred H. Jonske, FSA Life Trustee M Financial Group
Paul A. LaPiana, CFP® MassMutual Financial Network Premier Client Group
Anne Long Long Consulting Group
James J. Meehan, MSM – Vice-Chair 1847Financial
James A. Mitchell, CLU®, ChFC® Retired – IDS Life Insurance Company
Linda S. Need, MSFS, FSA, CFP®, CFA®, CAP® (Ex officio) Retired - Wells Fargo Insurance Services USA, Inc.
Knut A. Olson, CLU® Thrivent Financial
Tina M. Perrino, JD Charles Schwab & Co.
Robert B. Plybon, CLU®, ChFC® Life Trustee Plybon & Associates, Inc.
M. Michael Rooney, CFP®, CLU®, ChFC® AXA Advisors, LLC
Michael Rosenzweig, CLU®, ChFC® (Ex officio) Rosenzweig Financial Services
Albert J. “Bud” Schiff, CLU®, CAP® Life Trustee Alvarez & Marsal Executive Compensation & Benefits
Robert D. Shapiro, CLU® The Shapiro Network, Inc.
Clara Shih Hearsay Systems
Frederick J. Sievert, MSM Life Trustee Retired – New York Life Insurance Co.
Jon S. Stenberg, ChFC® RiverSource Insurance
Scott Stolz, CFP® Raymond James Financial, Inc.Thank You.
28 2 0 1 6 A N N U A L R E P O R T
2016 Foundation Board of Directors R E P R E S E N T S B O A R D M E M B E R S T H R O U G H T H E E N D O F D E C E M B E R 3 1 , 2 0 1 6
Thomas P. Tooley, CLU®, ChFC® MassMutual Financial Group
Leo C. Tucker, CLU® The Washington Group
Michael J. Vietri, CLU® AmeriLife
Mary A. Weiss, PhD Fox School of Business, Temple University
Robert J. Wernecke, CLU® Life Trustee ECA Financial Services, Inc.
Doyle J. Williams, CLU®, ChFC® COUNTRY Financial
David Andrews, CLU®, ChFC® Principal
Peter C. Browne, LUTCF® PRB Wealth Management
Tammy Butts, CLU®, ChFC® AXA Advisors, LLC
Susan M. Cooper, MSM, CFP®, CLU®, ChFC®, CAP®, RICP®
Howard B. Cowan, CLU®, ChFC® Cowan Financial Group
Charles T. Cronin III, CLU®, CAP® (Ex officio) The American College of Financial Services
Michael C. Davidson, MSM, CLU®, CAP® Retired – State Farm Insurance
Harris Fishman, CLU®, ChFC® MassMutual Greater Philadelphia
Lily Fong, CLU®, ChFC®, CASL®, RICP® AIG Partners Group
R. David Fritz, Jr., CLU®-Vice-Chair Executive Benefits Network
Gary T. “Doc” Huffman, CLU®, ChFC® (Ex officio) Ohio National Financial
Michael V. James Partners Financial
Robert R. Johnson, PhD, CFA®, CAIA® (Ex officio) The American College of Financial Services
Rodger K. Johnson, MSFS, CLU®, ChFC®, CAP® Johnson Financial Group
Joseph W. Jordan
Arnold M. Katz, CLU® AMK Concepts, Inc.
Kelly Kidwell, LUTCF®, CLU®, ChFC® Pacific Advisors, Inc.
Arthur D. Kraus, CLU®, ChFC®, CAP® Capital Intelligence Associates, Inc.
Leon L. Levy, CLU® Leon L. Levy & Associates
Richard A. Liddy, CLU® General American Life Insurance Company
Ronald E. Long, CLU®, ChFC® - Treasurer Sharebridge Private Equity Consolidated
Eugene F. LoVasco, JD, CLU®, CPA LoVasco Consulting Group
Reginald N. Rabjohns, CLU®, ChFC® Secure Futures, Rabjohns Financial Group
Phillip C. Richards, CLU®, RHU®, CFP® North Star Resources Group
Michael Rosenzweig, CLU®, ChFC® - Chair Rosenzweig Financial Services
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 29
E M E R I T U S F O U N D AT I O N B O A R D M E M B E R S
Albert J. "Bud" Schiff, CLU®, CAP® Alvarez & Marsal – Executive Compensation & Benefits
Jayne N. Schiff, CLU®, ChFC®, REBC®, CAP®, ChHC® Schiff Benefits Group, LLC
Mike Scovel, MSM, CLU®, ChFC® New York Life Insurance Company
Joel A. Shapiro, CLU®, ChFC®, MSFS Bartmon, Shapiro and Associates, Inc.
Joseph Sparacio, LUTCF®, CLU®, CLF® MassMutual Financial Group
Gary Tang, CFA (Ex officio) The American College of Financial Services
Margaret M. Towle, PhD, CAIA®, CAP®, RICP®, CIMA®, CPWA® Merrill Lynch
Kristyn Cook-Turner, CLU® State Farm Insurance
E. Hardy Vaughn, Jr., MSFS, CLU®, ChFC®, CAP® The Vaughn Group, Inc.
Paul E. Vignone, JD, CLU®, ChFC® The Penn Mutual Life Insurance Company
John G. Wells, CPA (Ex officio) The American College of Financial Services
Brian S. Brown, CLU®, ChFC®
Jarrett L. Davis III, CLU®
Louis P. DiCerbo II, LUTCF®, CLU®, ChFC®
Lee M. Gammill, Jr., CLU®
Gloria LaGrassa, CLU®, ChFC®
James A. Mitchell, CLU®, ChFC®
William B. Wallace, CLU®, ChFC®, CAP®
30 2 0 1 6 A N N U A L R E P O R T
2016 Alumni Association Board of Advisors R E P R E S E N T S B O A R D M E M B E R S T H R O U G H E N D O F D E C E M B E R 3 1 , 2 0 1 6
Kevin Baldwin, CLU®, ChFC®, CAP® OneAmerica Securities
Michael Barry, CLU®, ChFC®, MSFS New York Life
Jeffrey S. Barton, MSM, CLU®, ChFC®, CASL® - President State Farm Insurance
Matthew Berger, CLF®
Jerry Borrowman, MSFS, CLU®, ChFC®, LUTCF®, CAP® Penn Mutual
Heather Davis, JD, CLU®, ChFC® AEP®, CAP® - Vice-President New York Life
Richard Paul Dodd, CLU®, ChFC® Northwestern Mutual-The Greater New York Group
Steven D. Earhart, CFP®, MSFS, CLU®, RICP®, ChFC® Devon Financial Partners, LLC
Jason Early, ChFC®, CFP® Hoopis Performance Network
Robert A. Faingold, MSM, CLF® Ameritas
Diane Hack Gould, CLU®, ChFC®, CAP®, MSFS D.H. Gould Company
Carrie Hall, CLU®, CFP® Carrie Hall and Associates, The Nautilus Group
Robert A. Hodgkiss, CLU® New York Life
Regina R. Holmes, CLU®, ChFC®, RICP® State Farm
Peter Hoopis, CLU®, ChFC®, CLF® Hoopis Group
Robert R. Johnson, PhD, CFA®, CAIA® (Ex officio) The American College of Financial Services
Dewane Lewis, Jr., LUTCF®, FSS®, CLF® Penn Mutual Life Insurance
Lynnette Muleady, MSM, CLU® State Farm Insurance
James A. Petersen, MSM, MSFS, CFP®, CLU®, ChFC®, CASL®, CLF®, RICP®, AEP® First Command Financial Services, Inc.
Lucas Quaccia, CLU® ChFC®, CLF® New York Life
John J. Rocco, Sr., MSFS, CLU® Emeritus Rocco Insurance & Financial Group
Jayne N. Schiff, CLU®, ChFC®, REBC®, CAP®, ChFC® Emeritus Schiff Benefits Group
Michael Scovel, MSM, CLU®, ChFC® New York Life
Stephen C. Target, MSM, CLU®, ChFC® Newton One, LLC
Melinda Wilke, CFP®, CLU®, ChFC®, CASL®, CLTC®, CLF® Northwestern Mutual
T H E A M E R I C A N C O L L E G E O F F I N A N C I A L S E R V I C E S 31
Salaries and Benefits
Academic and General and Administrative
Occupancy cost (Including Depreciation)
2016 Expense Composition 2016 Revenue Sources
58%
8%
34%
Student Fees
Contributions
Investment and Other Income
70%
10%
20%
2016 FINANCIAL PERFORMANCE
Revenue Sources | 2012-2016
Educational Fees and Services
Contributions
Investment and Other Income
$50,000,000
$37,500,000
$25,000,000
$12,500,000
$0
2014 2015 201620132012
Total Charitable Gifts/Pledges (GAAP)
Cash Received
GAAP
$9,000,000
$8,000,000
$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0
20162015201420132012
Financial information in the Revenue and Expense graphics on this page is based on final,
audited data from January 1, 2016 to December 31, 2016. All other graphics are based on the
corresponding years’ annual audits. The Total Charitable Gifts/Pledges bar chart represents
contributions on a Generally Accepted Accounting Principles basis.
270 South Bryn Mawr Avenue
Bryn Mawr, PA 19010