BRYN MAWR, Pa., April 1, 2004: The American College, the nation's largest accredited institution serving the financial services industry, announced today the creation of a new educational designation designed to provide financial advisors with the education needed to effectively serve those planning for retirement. The new designation, the Chartered Advisor for Senior Living (CASL) is a milestone in higher education in that it was created with active curriculum design support by financial advisors.

"As baby boomers move into their retirement years, they will need the services of a professional financial advisor who is educated and experienced in managing the specific challenges of retirement - financial and psychological," said Larry Barton, Ph.D., President and Chief Executive Officer of The American College. "Investments, wealth distribution, health coverage, estate planning, life insurance and long-term care are just some of the concerns that the burgeoning population of seniors must address if they are not to run out of savings."

"The evidence is abundant that baby boomers are concerned about outliving their assets," continued Barton. "Advisors who earn a CASL will help older Americans enjoy financial security and address critical wealth and health issues during their retirement years."

Earning the designation requires individuals to pass five College-level courses and meet specific experience, ethical and continuing education requirements. The five courses in the curriculum are:
 

 -- HS 328  Investments
  -- HS 330  Fundamentals of Estate Planning
  -- HS 350  Understanding the Older Client
  -- HS 351  Health and Long-Term Care Financing
  -- HS 352  Financial Decisions for Retirement

In addition to financial considerations, graduates will learn best practices and proven strategies to assist seniors with key lifestyle issues including: work and retirement, family relationships, psychological perspectives on aging and health care issues.

"Baby boomers are on the verge of inheriting trillions of dollars in one of the biggest transfers of wealth in history, yet many of these individuals have no significant asset management experience," said Barton. "This inexperience is an opportunity for unscrupulous individuals to deprive consumers of the full benefits of their lifetime savings. To protect themselves, consumers should select advisors who have completed the CASL, ChFC(R), CLU(R) or other similar educational programs. Advisors with these designations must adhere to a professional code of ethics in order to maintain their credentials."

The curriculum was developed by The 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, John Hancock, Prudential Financial and MassMutual.

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

Accountants, attorneys, CPAs, financial planners, long-term care specialists and life and health insurance agents are all potential CASL designees. Individuals who work everyday with seniors including professionals in the health care industry and senior residency facilities would also find this curriculum to be valuable.

Courses in the CASL curriculum cost $425 each. This includes all printed study materials, including textbook(s) and student syllabus or study guide. Also included are audiocassette review tapes, videotapes and access to online courses, where available. All new students pay a one-time $70 nonrefundable matriculation fee.

The American College is the nation's #1 educator of professionals in the financial services industry. Located on a 35-acre campus in Bryn Mawr, Pennsylvania, The College serves over 35,000 students each year, 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.

Source: The American College