2012 Symposium: The Market for Retirement Financial Advice
May 3-4, 2012
About the Conference
Though many people use financial advisers, and many more would probably benefit from financial advice, relatively little is known about the marketplace for such advice. The 2012 Pension Research Council conference at the Wharton School of the University of Pennsylvania offers cutting-edge research and commentary on key aspects of the advice marketplace, types of advice provided, fees and commissions, market and regulatory considerations, and how to evaluate advisers' performance and impact. Also included is a roundtable discussion on fiduciary challenges for financial advisors. Conference attendees will include consultants and advisers, academics, actuaries, plan sponsors, benefits specialists, and policymakers. Co-hosted by Olivia S. Mitchell and Kent Smetters at the Wharton School.
This conference is co-hosted by Olivia S. Mitchell and Kent Smetters at The Wharton School.
Conference Agenda
Thursday, May 3, 2012
Introductory Remarks: Kent Smetters, The Wharton School
Session I: Overview
- "The Market for Financial Advisers"
John A. Turner, Pension Policy Center, and Dana M. Muir, University of Michigan - "When, Why, and How Do Mutual Fund Investors Use Financial Advisers?"
Sarah A. Holden, Investment Company Institute - Discussant: Christine Fahlund, T. Rowe Price
- (Conference presentation currently unavailable)
Session II: Market & Regulatory Considerations
- "Explaining Risk to Clients: The View from Two Advisors"
Paula H. Hogan, Paula Hogan, and Frederick H. Miller, Sensible Financial Planning - "Harmonizing the Regulation of Financial Advisors"
Arthur B. Laby, University of Rutgers - Camden - "Regulating Financial Planners: Assessing the Current System and Some Alternatives"
Jason Bromberg and Alicia Puente Cackley, US GAO - Discussant: Gerri Walsh, FINRA Investor Education
Keynote Speaker: Martin Gruber, NYU Stern School of Business
Session III: What Do Advisers Tell Us?
- "How Important is Asset Allocation to Financial Security in Retirement?"
Alicia H. Munnell, Natalia Sergeyevna Orlova, and Anthony Webb, Boston College - "The Practices of Financial Advisors and Defined Contribution Plan Providers on Educating Clients and Participants about Social Security"
Mathew Greenwald, Mathew Greenwald & Associates, Andrew Biggs, American Enterprise Institute, and Lisa Schneider, Mathew Greenwald & Associates - "Choice and Defined Contribution Retirement Income"
Jason Scott, Financial Engines - Discussant: Ed O'Connor, Morgan Stanley Smith Barney
- "How to Make the Market for Financial Advice Work"
Andreas Hackethal and Roman Inderst, Goethe University - "The Role of Guidance in the Annuity Decision-making Process"
Kelli Hueler, Hueler Companies, and Anna Rappaport, Anna Rappaport Consulting- (Conference presentation currently unavailable)
- Discussant: David Richardson, TIAA-CREF Institute
- (Conference presentation currently unavailable)
Keynote Speaker: Harold Evensky, Evensky & Katz Wealth Management
Session IV: Measuring Performance and Impact
- "Evaluating the Impact of Financial Planners"
Cathleen D. Zick and Robert N. Mayer, University of Utah - "Asking for Help: Survey and Experimental Evidence on Financial Advice and Behavior Change"
Angela A. Hung and Joanne Yoong, RAND Corporation - "Financial Advice: Does it Make a Difference?"
Michael Finke, Texas Tech University - Discussant: William Clark, Federal Reserve Employee Benefits System
Session V: Roundtable
- "Fiduciary Challenges in Retirement Plans 2012"
Anna Rappaport, Anna Rappaport Consulting
Richard Helmreich, Porter Wright Morris and Arthur
Richard D. Landsberg, Nationwide Financial Services
Stephen McCaffrey, National Grid
Pension Research Council
The Wharton School of the University of Pennsylvania
3620 Locust Walk, 3000 Steinberg Hall–Dietrich Hall
Philadelphia, PA 19104-6302
Tel: 215.898.7620 | Fax: 215.573.3418 | prc@wharton.upenn.edu
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