Generational shift creates opportunity for advisors

A generational shift has created several generations of Americans who are financially unprepared for retirement, which represents an opportunity for advisors. We explore that and other changes going on at The American College on this episode of ShiftShapers.

On this episode of the ShiftShapers podcast, we go back to school with Dr. Robert Johnson, President and CEO of The American College. Dr. Johnson began his career as a traditional college professor before transitioning to the Association for Management and Research where he was instrumental in enhancing the CFA program curriculum. All of this experience led Bob to what he calls “Prac-Ademics,” a merger of the practical and the academic that may be the key for advisors seeking to add or increase this practice area in their businesses.

Join us as Bob shares his insight on a new crisis looming in this country due to a lack of retirement planning readiness among Americans. The shift away from baby boomers’ defined-benefit plans to defined-contribution and 401(k) plans without the necessary financial education will leave a large number of retirees in a precarious predicament. Under Bob’s leadership, The College is working to move the needle on financial preparation by training financial advisors who work with the general public. We explore how the college’s Retirement Income Certified Professional (RICP) designation is its most popular field of study for today’s advisors.