2016 - theamericancollege.edu · MICHAEL E. “MICKEY” ROSENZWEIG, CLU ... over 250 scholarships through 2016 to support educational opportunities for qualifying students who want

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


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.


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®


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.


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


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


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


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*


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


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


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


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*


E. Dunbar Jewell

Charles C. Jones*

Fred H. Jonske

Allan M. Kaplan

Joe Kelley

Stephen A. Kramer*


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


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*


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*


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


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


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


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


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, 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


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


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


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


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*


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


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


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


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.


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


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


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


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


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

2016 - theamericancollege.edu · MICHAEL E. “MICKEY” ROSENZWEIG, CLU ... over 250 scholarships through 2016 to support educational opportunities for qualifying students who want

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