Good News For Baby Boomers: Help Is On The Way; Educational Program Focuses On The Financial and Health Issues Facing Baby Boomers and Their Parents.

Business Editors

BRYN MAWR, Pa.--(BUSINESS WIRE)--April 16, 2004

The American College:

Editor's Note: Dr. Larry Barton, president and chief executive officer of the American College is available for an interview to discuss this new program that has been developed in response to a critical need for information as baby boomers move into their retirement years. For additional information and to schedule an interview, please contact: [e-mail] or call 239-949-1808.

An announcement made by The American College is expected to have a major impact nationwide on the choices that baby boomers make as they move into their retirement years and make financial and lifestyle decisions.

In response to demand by industry and retirees, The American College is launching a new program: the Chartered Advisor for Senior Living (CASL). The new designation will help professional financial advisors better serve their client's critical financial, medical and lifestyle needs as they move into their retirement years.

"The American College, in cooperation with a task force of industry professionals has created a new program dedicated to meeting the needs of seniors," said Larry Barton, PhD, president and chief executive officer of The American College. "By comprehensively addressing senior-related issues, the College hopes to make the CASL program the premier designation in this very important field."

The curriculum was developed by The American College with an advisory committee of industry professionals to insure that the educational program met the needs of seniors. Companies participating in the development process included New York Life, GE Financial Assurance, State Farm, MetLife, Northwestern Mutual, Bankers Life and Casualty, Physician's Mutual, Mutual of Omaha, Prudential Financial and Mass Mutual.

"The financial services industry provided incredible insight as we designed this program," said Barton. "We are delighted by the enthusiasm these companies and others in the industry have already expressed for this designation."

But the program does not stop there. To better understand and counsel their clients on the full range of options open to them during their retirement years, CASLs focus on serving the whole senior. In addition to learning about financial and medical issues, CASLs must complete in depth coursework on physical health, psychological and sociological perspectives related to aging and key lifestyle issues including work, retirement and family relationships.

"The CASL provides advisors with the information and tools they need to provide comfort to clients at a time when they are feeling very confused, vulnerable and afraid of outliving their assets. It is important that financial advisors are able to assist in protecting these assets from inflation, the economy, health issues and housing issues," Barton explained.

Advisory committee member Nancy Morith, is president of N.P. Morith, Inc. a Princeton, NJ based company that specializes in long term care planning, consulting and insurance brokerage. One critical change that she has seen over the past 15 years in business is that the consumer must now plan for a much longer life.

"Baby boomers are in a new frontier. They are living longer. Prior generations never had to plan for this situation. We now have to be very resourceful in our planning. The challenge that we face is that of protecting assets," she explains. "Without a sound plan, all of our retirement funding goes down the drain. It is important that we learn to serve our clients and point them toward the best resources. The program that The American College has developed does this brilliantly."

The program is directed at a wide range of professionals who work with older clients or are in a position to expand their services to this market. Accountants, attorneys, financial planners, long-term care specialists, life and health care agents and their staff, nurse practitioners and trust officers. Its goal is to teach professional advisors to analyze a client's situation and put together a plan that assures them of a long and comfortable retirement. The designation goes far beyond financial issues and this is what makes it unique.

"As the population ages, more clients will need help in planning for their future," said Morith. "Assisting this growing segment will become increasingly important to the practice of financial advisors. We expect this program to become the `gold standard' of senior designations."

In order to earn the CASL designation, participants must pass five College-level courses and meet specific experience, ethical and continuing education requirements. The five courses in the curriculum are Investments, Fundamentals of Estate Planning, Understanding the Older Client, Health and Long-Term Care Financing and Financial Decisions for Retirement.

The American College is the nation's leading educator of professionals in the insurance and financial services industry. Located on a 35-acre campus in Bryn Mawr, PA., the college serves more than 35,000 students predominantly on a distance education basis. The American College offers an array of specialized designation programs, a Master of Science degree in financial services and customized continuing education programs for those pursuing a career in financial services. For more information, visit http://www.amer.coll.edu.