2012 Symposium: The Market for 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
Session I: Overview
- "The Market for Financial Advisers"
John A. Turner, Pension Policy Center, and Dana M. Muir, University of Michigan - Download Working Paper [PDF] Coming soon; login required.
- "When, Why, and How Do Mutual Fund Investors Use Financial Advisers?"
Sarah A. Holden, Investment Company Institute - Download Working Paper [PDF] Coming soon; login required.
- Discussant: Christine Fahlund, T. Rowe Price
- Download Presentation [PDF] Login required.
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 - Download Working Paper [PDF] Coming soon; login required.
- "Harmonizing the Regulation of Financial Advisors"
Arthur B. Laby, University of Rutgers - Camden - Download Working Paper [PDF] Coming soon; login required.
- "Regulating Financial Planners: Assessing the Current System and Some Alternatives"
Jason Bromberg and Alicia Puente Cackley, US GAO - Download Working Paper [PDF] Coming soon; login required.
- Discussant: Gerri Walsh, FINRA Investor Education
- Download Presentation [PDF] Login required.
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 - Download Working Paper [PDF] Coming soon; login required.
- "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 - Download Working Paper [PDF] Coming soon; login required.
- "Choice and Defined Contribution Retirement Income"
Jason Scott, Financial Engines - Download Working Paper [PDF] Coming soon; login required.
- Discussant: Ed O'Connor, Morgan Stanley Smith Barney
- Download Presentation [PDF] Login required.
- "How to Make the Market for Financial Advice Work"
Andreas Hackethal and Roman Inderst, Goethe University - Download Working Paper [PDF] Coming soon; login required.
- "The Role of Guidance in the Annuity Decision-making Process"
Kelli Hueler, Hueler Companies, and Anna Rappaport, Anna Rappaport Consulting- Download Working Paper [PDF] Coming soon; login required.
- Discussant: David Richardson, TIAA-CREF Institute
- Download Presentation [PDF] Login required.
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 - Download Working Paper [PDF] Coming soon; login required.
- "Asking for Help: Survey and Experimental Evidence on Financial Advice and Behavior Change"
Angela A. Hung and Joanne Yoong, RAND Corporation - Download Working Paper [PDF] Coming soon; login required.
- "Financial Advice: Does it Make a Difference?"
Michael Finke, Texas Tech University - Download Working Paper [PDF] Coming soon; login required.
- Discussant: William Clark, Federal Reserve Employee Benefits System
- Download Presentation [PDF] Login required.
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
- Download Presentation [PDF] Login required.
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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