Financial Planning Podcast Series
Financial Planning Magazine is pleased to present a special three-part Podcast Series exploring the best strategies for the changing retirement landscape. Each podcast will include a different panel of industry experts who will provide insights on the challenges of retirement planning.
Marion Asnes, Editor, Financial Planning Magazine will moderate the series which includes ‘The Challenges of Financing a Modern Retirement’, ‘Creating a Retirement Income Portfolio’ and ‘Client Communications and the New Retirement Reality’.
Marion Asnes became the editor of Financial Planning Magazine in 2005. Financial Planning is the leading professional magazine for independent financial planners and has a circulation of 110,000. The topics covered on its pages range from industry news and trends to sophisticated discussions of portfolio management, estate planning and philanthropy. Asnes is the first female editor to head Financial Planning in the magazine's 37-year history.
Before joining Financial Planning, Asnes was a senior editor at Money, participating in the magazine’s coverage of personal finance, retirement, investment and health care issues. Her areas of expertise included retirement and 401(k) planning, asset allocation, estate planning and the particular financial challenges faced by women. In addition to her regular editorial duties at Money, Asnes co-edited Money for Women, an annual special issue that was featured exclusively on The Today Show on NBC.
A 27-year service journalism veteran, Asnes has contributed to a long list of national publications including Vogue, Elle, Glamour, Good Housekeeping, More, Mirabella, Working Woman and Lear's. She has spoken at conferences and symposia ranging from the National Endowment for Financial Education’s Retirement Summit to the National Football League’s Rookie Symposium. In addition, Asnes has appeared on national television programs as an expert on financial and economic topics including CNN, CNN Headline News, NBC's Today, ABC's 20/20, PBS's NewsHour with Jim Lehrer and Fox News' The O'Reilly Factor.
Asnes was graduated with a B.A. from Cornell University. She lives with her family in Irvington, N.Y.
1. The Challenges of Financing a Modern Retirement
Today’s retirees are healthier and wealthier than any generation before them, but that presents its own unique set of challenges.
For instance, active retirement lifestyles are more expensive to sustain than many retirees expect, and because retirees are living longer, their money has to last longer. Meanwhile, traditional retirement safety nets such as corporate pension plans are quickly disappearing, which means retirees are on their own.
How can you help your clients think realistically about their lives and financial needs in retirement? We will explore this new retirement landscape and discuss strategies for addressing these financial challenges.
How can you help your clients think realistically about their lives and financial needs in retirement? We will explore this new retirement landscape and discuss strategies for addressing these financial challenges.
Industry Experts:
Mitch Anthony is recognized as a leading expert in the field of building client relationships. His relational skills programs are currently being used to train advisors in scores of financial services companies.
He is founder and president of Advisor Insights Inc. and The Financial Life Planning Institute, which are training companies serving advisors and financial services corporations.
Mitch is the best-selling author of several books for financial professionals:
- StorySelling for Financial Advisors
- The New Retirementality - Planning Your Life and Living Your Dreams ... at any Age
- Your Clients for Life - The Definitive Guide to Financial Life Planning
- Selling with Emotional Intelligence
- Making the Client Connection
- The Daily Dose - 240 Stories that Motivate and Inspire
- The Financial Professional's StoryBook
- Your Client's Story
His column “Financial Life Planning” appears in Financial Advisor magazine.
Mitch has been named one of the financial service industry’s top “Movers & Shakers” by Financial Planning magazine.
His work has been featured in ABC Evening News, CNN, Wall Street Journal, Bloomberg, CBS Marketwatch, Kiplingers Magazine, Ticker, Research, Registered Representative, Broker’s World, Investment Advisor, and Selling Power.
Mitch’s radio feature, The Daily Dose, is heard daily on 200 radio stations nationwide.
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William G. Gale PhD, Vice President and Director of the Economic Studies Program, Brookings Institution
William Gale is vice president and director of the Economic Studies Program at the Brookings Institution and the Arjay and Frances Miller Chair in Federal Economic Policy. He conducts research on a variety of economic issues, focusing particularly on tax policy, fiscal policy, pensions and saving behavior. He is also co-director of the Tax Policy Center, a joint venture of the Brookings Institution and the Urban Institute.
Gale attended Duke University and the London School of Economics and received his Ph.D. from Stanford University in 1987.
Prior to joining Brookings in 1992, he was an assistant professor in the Department of Economics at the University of California, Los Angeles, and a senior staff economist for the Council of Economic Advisers under President George H.W. Bush.
He is the co-author or co-editor of several books, including Taxing the Future: Fiscal Policy in the Bush Administration (Brookings, 2006); Aging Gracefully: Ideas to Improve Retirement Security in America (Century Foundation, 2006); The Evolving Pension System: Trends, Effects, and Proposals for Reform (Brookings, 2005); Private Pensions and Public Policy (Brookings, 2004); Rethinking Estate and Gift Taxation (Brookings, 2001), and Economic Effects of Fundamental Tax Reform (Brookings, 1996).
He has also written numerous scholarly research articles, including publications in the American Economic Review, Journal of Political Economy, and Quarterly Journal of Economics, and has served as editor and editorial board member of several academic journals. He has also written extensively in policy-related publications and newspapers.
Gale has served on advisory boards for the Government Accountability Office, the Internal Revenue Service, the Joint Committee on Taxation and the Board of the Center on Federal Financial Institutions.
He lives in Fairfax, Virginia, with his wife Julie, who is a psychologist, their children Danny, 16, and Becca, 13, and two golden retrievers.
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Keith Hylind joined OppenheimerFunds in October 2006 and is responsible for the firm’s retirement income product initiatives. In this role, Mr. Hylind oversees product design, product development, marketing, and retirement planning software development. He is also responsible for training and field support associated with these initiatives.
Prior to joining OppenheimerFunds, he held executive positions at MetLife and Prudential Financial. At MetLife, he led product development and marketing for retirement products sold through institutional distribution channels. During his tenure at Prudential, Mr. Hylind held positions in various areas including actuarial services, product development, marketing and operations. He most recently served as the Vice President and Product Manager for the retail annuity business.
An expert in the retirement industry with a genuine passion for the retirement business, Mr. Hylind is frequently sought after to speak at financial industry conferences. He has been widely quoted in financial and mainstream publications alike. In 2005, Mr. Hylind provided expert testimony to the U.S. Department of Labor ERISA Council on retirement distribution and plan participant education policies.
He is a graduate of the University of Richmond and holds Chartered Life Underwriter (CLU) and Chartered Financial Consultant (ChFC) designations from the American College in Bryn Mawr, PA.
April 2007
Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
Before investing in any of the Oppenheimer funds, investors should carefully consider the fund’s investment objectives, risks, charges and expenses. Prospectuses contain this and other information about the funds. To obtain a prospectus you may ask your financial advisor, call us at 1.800.525.7048 or visit our website at www.oppenheimerfunds.com. Investors should read the prospectus carefully before investing.
Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc.
Two World Financial Center, 225 Liberty Street, New York, NY 10281-1008.
©2007 OppenheimerFunds Distributor Inc. All rights reserved.
2. Creating a Retirement Income Portfolio
The greatest financial threat facing today’s retirees is outliving their resources. With most of today’s retirees expecting to live 20 to 30 years past the traditional retirement age, plans today have to balance the need for current income with the need for growth.
Complex portfolios will require tax planning to make sure that withdrawals create the minimum tax exposure, both currently and in an estate. And with the majority of Americans over the age of 55 reporting that they want to continue working during their retirement, how will that income impact their investment plans?
We will discuss how to project future income needs and strategies for implementing a cash flow plan based on known income sources. We will also explore options for those who want to continue to work.
We will discuss how to project future income needs and strategies for implementing a cash flow plan based on known income sources. We will also explore options for those who want to continue to work.
Industry Experts:
HAROLD EVENSKY, CFP®, AIF® is President of Evensky & Katz a fee only financial advisory firm based in Coral Gables, Florida. Prior to forming his own company, he served as a Vice President of Investments with major investment banking firms. Mr. Evensky received his Bachelors and Masters degrees from Cornell University.
He has served as Chair of the TIAA-CREF Institute Advisory Board, the International CFP Council, the CFP Board of Governors, the Board of Examiners, and the Board of Appeals and as a member of the National Board of the IAFP and the Charles Schwab Institutional Advisory Board and Council. He is a member of the Financial Planning Association, the Academy of Financial Services, the CFA Institute and is an associate member of the American Bar Association. He is currently the Research columnist for the Journal of Financial Planning, a contributing writer for Financial Advisor Magazine, the Asian Financial Planning Journal and a member of the Editorial Review Board of the Journal of Financial Planning.
Mr. Evensky has been frequently recognized by Worth as one of the top 100 Wealth Managers, by Investment Advisor as one of the 25 most influential people in the financial planning industry, by Financial Planning Magazine as one of five “Movers, Shakers and Decision Makers, The Most Influential People in the Financial Planning Profession,” Investment News named one of the “25 Power Elite” in the financial services industry and Accounting Today has regularly listed him as one the profession’s most influential people. In 2002, his paper “Changing Equity Premium Implications for Wealth Management Portfolio Design” won the Journal of Financial Planning, “Call for Papers” competition and in 1999, he was awarded the Dow Jones Investment Advisor Portfolio Management Award For Lifetime Achievement.
Mr. Evensky is an internationally recognized speaker on investment and financial planning issues. In addition, he has written for and is quoted frequently in the national press, and is the author of Wealth Management (McGraw/Hill) and co-editor of The Investment Think Tank, Theory, Strategy, and Practice for Advisers (Bloomberg) and Retirement Income Redesigned - Master Plans for Distribution (Bloomberg).
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Teresa Ward manages OppenheimerFunds’ IRA, 403(b) and small business retirement programs. In this role, she is responsible for product enhancements, implementing marketing strategies, and providing technical education and support to the sales force.
Teresa is also a key contributor to OppenheimerFunds’ retirement income initiatives. In this capacity, she played an integral role in the development of OppenheimerFunds’ retirement income planning software.
Prior to joining OppenheimerFunds in 1996, Teresa spent six years with Cammack LaRhette Consulting (formerly Charles W. Cammack Associates, Inc.), a firm that works with tax-exempt organizations, specializing in 403(b) plans. Her experience there included client service and management, sales and marketing, and ERISA 403(b) consulting for many nonprofit clients.
Ms. Ward has more than 15 years experience working in the retirement plans market and frequently speaks at conferences on a variety of issues. She holds a Master Certified Retirement Specialist in Tax Sheltered Accounts (MCRS), a professional designation sponsored by National Tax Sheltered Annuity Association (NTSAA), the leading trade organization representing product providers, practitioners and other professionals in the 403(b) marketplace. She is actively involved in the NTSAA and serves on its board and several committees, including its Government Relations and Education committees.
Ms. Ward received a B.A. in Political Science from Marymount Manhattan College.
April 2007
Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
Before investing in any of the Oppenheimer funds, investors should carefully consider the fund’s investment objectives, risks, charges and expenses. Prospectuses contain this and other information about the funds. To obtain a prospectus you may ask your financial advisor, call us at 1.800.525.7048 or visit our website at www.oppenheimerfunds.com. Investors should read the prospectus carefully before investing.
Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc.
Two World Financial Center, 225 Liberty Street, New York, NY 10281-1008.
©2007 OppenheimerFunds Distributor Inc. All rights reserved.
Pinar Çebi Wilber, Ph.D. joined the American Council for Capital Formation as a research economist in 2005. Her research interests are diversified and include international trade and finance as well as various aspects of government policies. Dr. Çebi Wilber has done extensive research on the effect of government policies on retirement saving as well as research on use of annuities in retirement. Prior to joining the ACCF, she was a visiting Assistant Professor at Washington and Lee University. Earlier, Dr. Çebi Wilber was an instructor in the Department of Economics at Georgetown University. She received her Ph.D. in economics from Georgetown University and her BA from Bilkent University, Turkey.
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3. Client Communications and The New Retirement Reality
Clients planning for retirement need more than investment ideas from financial advisors. They need guidance in visualizing the retirement they want and perspective on how much they are going to need to save to make those dreams a reality.
Then they need a comprehensive plan to achieve those goals, and discipline to keep those plans on track. As clients enter retirement and move from the wealth-accumulation phase of life into distribution, they may need extra input from advisors. For many advisors, this means restructuring their practices to meet their clients’ changing needs.
This program will look at products and services available to advisors to help their clients develop a strategic plan for their retirement.
This program will look at products and services available to advisors to help their clients develop a strategic plan for their retirement.
Industry Experts:
Neal E. Cutler, PhD, is the Associate Director of the UNCG Gerontology Program at the University of North Carolina at Greensboro. His current teaching and research interests focus on the connections among aging, business, and financial services in the context of generational change and family dynamics. At UNCG he was organizer of “Aging is Good Business: Residential Choices and Boomers Coming of Aging,” the second annual UNCG Aging is Good Business.
Dr. Cutler is also Vice President and Dean of Educational Programs of the American Institute of Financial Gerontology (AIFG), a professional educational partnership with the American Society on Aging and UNCG. AIFG provides specialized gerontological training to qualified financial services professionals through a certification program leading to the Registered Financial Gerontologist™ (RFG) designation.
Previously he held the Boettner/Gregg Chair in Financial Gerontology at Widener University in Chester, Pennsylvania, where he was Professor, School of Business Administration, and Professor, School of Human Service Professions. From 1973 to 1989 he held a joint appointment as Professor of Political Science and Professor of Gerontology at the University of Southern California, and was Associate Director of the USC Andrus Gerontology Center’s Institute for Advanced Study in Gerontology and Geriatrics.
In 2007 Dr. Cutler was named a Fellow of the TIAA-CREF Institute. In 2006 he received the Cavanaugh Award for Excellence in Education and Training in Aging from the American Society on Aging. In 2005 he was appointed as Coordinator of the Aging and Business Education Initiative, a project of the AARP Office of Academic Affairs. In 2003, he was elected a Fellow of the Association for Gerontology in Higher Education (AGHE).
His over 200 publications includes four books: Advising Mature Clients: The New Science of Wealth Span Planning (2002), American Perceptions of Aging in the 21st Century (co-author, 2002), Can You Afford to Retire? (co-author, 1992), and Aging, Money, and Life Satisfaction: Aspects of Financial Gerontology (editor, 1992). His work has been featured in the Wall Street Journal, New York Times, Chicago Tribune, Philadelphia Inquirer, Kiplinger’s Personal Finance, CBS News, NPR’s All Things Considered, and other media.
Dr. Cutler is an Associate Editor of the Journal of Financial Service Professionals and since 1990 has written the journal’s column on “Financial Gerontology.” He is a member of the Editorial Board of the American Journal of Alzheimer’s Disease and Other Dementias, and was Founding Editor of the Financial Gerontology Review. He is co-chair of the AGHE Task Force on Business and Aging, and an advisor to the EBRI’s annual Health Confidence Survey.
Dr. Cutler was the Keynote Speaker at the 2004 Annual Meeting of British Society of Gerontology in London. He won Senior Fulbright Fellowships to Helsinki University (1972) and to Glasgow University (1988). In 1979-81, on leave from USC, he was a Professional Staff Member of the U.S. Senate Special Committee on Aging.
With a foot in both sides of Financial Gerontology, Dr. Cutler is a Fellow of both the Gerontological Society of America and the Employee Benefit Research Institute (EBRI). He earned his doctorate in Political Science from Northwestern University.
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Gayle Leavitt, Assistant Vice President, Product Manager - Education and Communication & Single K,
OppenheimerFunds, Inc.
Gayle Leavitt is an Assistant Vice President and Product Manager for OppenheimerFunds' Retirement Plans Product Management Group. Her responsibilities include creating and managing product enhancements and marketing programs for the OppenheimerFunds' retirement product lines. Her focus is on developing educational and communication programs and materials for retirement plan sponsors, plan participants, and financial advisors. Ms. Leavitt is also responsible for the Single K program, OppenheimerFunds' Individual 401(k) program. In this capacity, she is responsible for product development, management and marketing. Further, Gayle is a key contributor to OppenheimerFunds' retirement income initiatives.
Ms. Leavitt joined OppenheimerFunds in April of 2001 and has 12 years of experience in the financial services industry. Prior to joining OppenheimerFunds, she worked at J.P. Morgan where her primary role was as a communications consultant to large defined contribution plans. In this capacity, she worked with plan sponsors and consultants to service the educational needs of participants in large qualified retirement plans. Her expertise is in the marketing, communications, e-commerce, and product development/management aspects of the mutual funds and investment management arenas.
Ms. Leavitt has an M.B.A. from NYU's Stern School of Business and graduated with honors from Barnard College of Columbia University with a B.A. in Psychology.
April 2007
Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
Before investing in any of the Oppenheimer funds, investors should carefully consider the fund’s investment objectives, risks, charges and expenses. Prospectuses contain this and other information about the funds. To obtain a prospectus you may ask your financial advisor, call us at 1.800.525.7048 or visit our website at www.oppenheimerfunds.com. Investors should read the prospectus carefully before investing.
Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc.
Two World Financial Center, 225 Liberty Street, New York, NY 10281-1008.
©2007 OppenheimerFunds Distributor Inc. All rights reserved.
Mr. Dan Veto is considered by many to be at the vanguard of the new thinking about the opportunities and challenges presented to individuals and their financial professionals in preparing for and living out a satisfying and financially secure retirement. His nearly 20 years of experience in the personal financial services and healthcare industries combines a unique blend of groundbreaking consumer research and implementation of successful "in-the field" selling initiatives.
Mr. Veto is currently Senior Vice President at Age Wave. Age Wave is a think-tank and consulting firm that has been undertaking seminal research focused on aging, retirement and other adult life stages for more than three decades. Recently, Mr. Veto helped lead the seminal "What the World Wants" retirement research study sponsored by HSBC bank. The study is the largest and most comprehensive global review of retirement ever undertaken. At Age Wave, Mr. Veto is responsible for running Retirement Bridge™, their new business tool designed to help financial professionals and their clients effectively connect on the non-financial elements of forming a strong retirement advisory relationship.
Prior to joining Age Wave, Mr. Veto served on the Board of Directors and was Chief Marketing Officer and Senior Vice President of Strategic Planning at Bankers Life and Casualty Company, an insurance-based financial services firm exclusively focused on meeting the financial security needs of retirees. At Bankers he helped the company achieve successive all-time sales records through the development and implementation of distribution-based sales growth programs focused on understanding the emotional aspects of selling to older Americans.
Mr. Veto began his career at McKinsey & Company, where for nearly ten years he advised Fortune 500 clients in the U.S., Mexico and Europe in the financial services and healthcare industries. Mr. Veto earned his M.B.A. from INSEAD, in Fontainebleau, France and his B.S. in Electrical Engineering from the University of Illinois, in Urbana-Champaign.
Mr. Veto is frequently a featured expert in various media including television, radio and consumer and business periodicals on the topics of aging and retirement. He is also a highly sought after public speaker and has delivered engaging and insightful keynote presentations to thousands of financial professionals and their clients.
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