Paul S. Mills Scholarship

Journal Author Award

American Business Ethics

Award

Financial Education Partners

Industry Issues Competition

2015 ANNUAL REPORT

M ission StatementWe impact the lives of individuals with scholarships and financial education.

March 2016

Dear Friends of the Foundation for Financial Service Professionals:

“Goodness is about character - integrity, kindness, generosity, moral courage, and the like. More than anything else, it is about how we treat other people.”

This quote, from author Dennis Prager,

triggered thoughts about the character and

compassion of each of you – the generous

donors of the Foundation for Financial Service

Professionals. You are individuals who give more than just your financial

currency, but of yourselves – your time and expertise. You are individuals

who treat others with the utmost kindness and consideration.

One exceptional example is the work done by Dick Bell, of Bell

Financial in Calabasas, California, as volunteer coordinator of the

Foundation’s Financial Education Partners (FEP) program. During

the past six years, Dick has spent countless hours fielding calls from

National Multiple Sclerosis Society “navigators” who are seeking pro

bono financial guidance for their clients. They know they can get this

help from Dick Bell and the team of FEP counselors around the country.

Generosity is also clearly evident in your commitment to the Paul Mills

Scholarship program. Your financial support has allowed us to award

over $260,000 in scholarships since 1984. Nikki Nunez, a senior at the

University of Maryland, is one recent recipient. She’s a single-mom,

working full-time at an accounting firm while making Dean’s List every

semester. Nikki’s application was one out of 250 – each of which

required careful review by altruistic volunteers.

The Foundation Trustees recently approved a new Mission Statement:

“We impact the lives of individuals with scholarships and financial

education.” Thank you for being the “we” that makes the Foundation

possible – for your integrity, kindness, generosity, moral courage, and,

above all, for the compassionate way you treat others.

James B. Lammers, CFP, CLU, ChFC

Chair, Board of Trustees

Foundation for Financial Service Professionals

2015-2016 Board of Trustees

ChairJames B. Lammers, CFP,

CLU, ChFC

PresidentJames M. Christian, CLU, ChFC

Chief Executive OfficerJoseph E. Frack, CPA, CGMA

SecretaryAnthony R. Bartlett, CASL, ChFC

TrusteesJames S. Aussem, JD, AEPRichard A. Bell, CLU, ChFC, CFP Joshua J. Chase, CFPMichael P. Dow, CPA, CLU,

ChFC, AEPBruce A. Guillemette, CLU,

ChFC, MSMLynne F. Stebbins, JD, CLU,

ChFC, AEPRobert B. Wellendorf, II, CLU

Ex OfficioAnne M. Rigney, JD, CLU, ChFC

Contact InformationFoundation for Financial Service

Professionals3803 West Chester Pike, Suite 225Newtown Square, PA 19073

610-526-2500www.financialprofoundation.org

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FOUNDATION CONTRIBUTORS

LIFETIME GIVING

Trustees Circle $25,000 +

Richard A. Bell

Anthony J. Domino, Jr.

Guardian Life

Ann W. Hartmann

Lincoln Financial Group Foundation

MetLife

Northwestern Mutual

Pacific Life

Stewards Circle $10,000 to $24,999

R. Clifford Berg, Jr.

Michael W. Cramer†

Foundation for Financial Planning

Joseph E. Frack

Terri L. Getman

Roderick P. Hansen

Ned D. Helmuth†

Lancaster Chapter FSP

Richard H. Linsday

MDRT Foundation

NAILBA Charitable Foundation

Prudential Financial Foundation

Dale A. Vetter

Scholars Circle $5,000 to $9,999

April Caudill

James M. Christian

Dudley R. Crow

Kay I. Dempsey

Anthony J. Domino, Sr.†

John R. Driskill

Leo R. Futia

Robert S. Littell

Patrick J. Luby

Jack L. Nix

Mitchell G. Rubin

Harold A. Schwartz, Jr.†

Sierra Pacific Constructors

James J. Tyrpak

Richard M. Weber

Barry L. Wolfe

Alan R. Ziegler

Leaders Circle $2,500 to $4,999

James S. Aussem

Hartman Axley

Ben G. Baldwin, Jr.

William J. Braun

Stephanie J. Curry

Richard M. Denton

Samuel L. Farb†

Mark J. Hanna

Stephen F. Libby

Marshall D. Lipson

Lombard Graphics

James W. Mader

Magee-O’Connor Foundation

Clark B. McCleary

Michael J. McGlothlin

Wayne O. McHargue

John J. Meyer

John K. Mulvey, Jr.

Patricia A. Nowak

Thomas L. Petsche

A. Duer Pierce

Society of FSP

David L. Stratton

Leo E. Strine

James W. Tait

Twin Cities Chapter

William T. Walsh†

Jon W. Webber

Lawrence Wiener

† deceased continued on page 5

ANNUAL GIVING

Founders $5,000 +

Anthony J. Domino, Jr.

Ann W. Hartmann

Lincoln Financial Group Foundation

Harold A. Schwartz, Jr.†

Advisors $1,000 to $4,999

James M. Aussem

Richard A. Bell

R. Clifford Berg, Jr.

James M. Christian

Stephanie J. Curry

Joseph E. Frack

Terri L. Getman

Magee-O’Connor Foundation

Prudential Financial Foundation

Dale A. Vetter

Richard M. Weber

Planners $500 to $999

Dudley R. Crow

Kay I. Dempsey

Greater Milwaukee Foundation— Keith & Dee Miller Fund

Richard A. Linsday

Joe P. Moore, Jr.

Thomas L. Petsche

James W. Tait

Alan R. Ziegler

Mentors $100 to $499

AXA Foundation

R. John Badger, Jr.

Ben G. Baldwin, Jr.

Bruce Bare, Jr.

Anthony R. Bartlett

John D. Becker

Michael H. Bergman

William E. Blauvelt

William J. Braun

Brian S. Brown

James L. Butler

Daniel A. Caldwell

John D. Campbell

April Caudill

Joshua J. Chase

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4

Sources of Funds

Sponsorships11%

Uses of Funds

FEP 4%

Journal AuthorAwards 6%

ABEA 7%

Fund Raising 8%Investments

37%

Contributions52%

MillsScholarships

28%

Industry IssuesCompetition

26%

Management/General

21%

PROGRAMS

FINANCIAL

Paul S. Mills Scholarships provide need-based financial support to students pursuing undergraduate degrees in financial service-related fields. Specific scholarship amounts will vary depending on the funds available. The following recipients each received a $1,000 scholarship for the 2015-2016 academic year:

Paul S. Mills Scholarships

2015 Recipients

Christina EilerNew Albany, INUniversity of Phoenix

Jessica MartinezGibsonton, FLHillsborough

Community College

Theresa NunezOdenton, MDUniversity of Maryland

Alejandra SalinasSugar Grove, ILIllinois Wesleyan

University

Cassidy SchumaHackettstown, NJFlorida State University

Princina ShipmanJohnstown, PADeVry University

Paul S. MillsScholarship Program

Foundation Contributors Continued

Loretta Chiofolo

Scott D. Colby

Robert C. Coleman

Robert H. Colyar

Donald E. Culver

Delaware Chapter FSP

Paul L. DeLisio

Richard M. Denton

Jesse G. Dogillo

Michael P. Dow

John R. Driskill

Leo C. Duffield, Jr.

Scott A. Emley

Jo Ann Engelhardt

Penni P. Foust

J. Arthur Garcia

Matthew A. Garrow

James M. Gasparotto

Louis F. Grammes

Robert L. Green

Ernest Guerriero

Douglas R. Head

Kelly G. Herring

Brian D. Horn

Bruce W. Hubbard

Roger A. Hubley

John Hancock Financial Services

Dennis R. Isabell

Shane M. Johnson

Kevin K. Kishimori

James B. Lammers

Gary E. Lanzen

Terrence T. Lescoe

Marshall D. Lipson

William D. Magee, Jr.

Manuel E. Martinez

Clark B. McCleary

Ronald K. McQueen

Walter C. McRae

Michael R. McReynolds

James J. Meehan

William S. Merriken, Jr.

John K. Mulvey, Jr.

James R. O’Grady

Michael G. O’Neill

Terry L. Owens

Stephen B. Parrish

Michael B. Paskowski

Perspective Financial Group

Ruth R. Petty

Geoffrey E. Pfeiffer

Robert A. Phares

A Duer Pierce, Jr.

Michael Quinlivan

Olin B. Ragsdale

Jack C. Raskin

Donald L. Reichert

Anne M. Rigney

Andrew J. Rinn

Edwin L. Robins

Frederick J. Russell

Karen P. Shute

Ray A. Silva

Robert O. Smith

Joseph Sreshta

Terence B. Stanaland

Bruce P. Stone

David L. Stratton

Laurence K. Strickler

David R. Stromecki

Kenn B. Tacchino

John E.T. Taylor

Victor D. Thom

Ruth G. Timme

Toledo Chapter FSP

Stuart G. Tugman

Elvin D. Turner

Allan J. Turoff

James R. Waldorf

David R. Watson

Jon W. Webber

Robert B. Wellendorf, II

Garret S. Wong

Susan K. Yanabu Ihle

Edward F. Zaik

Friends—Other Gifts

William J. Bradley

Brian H. Breuel

John E. de Montel

Andrew Dzurinko

Claude A. Gregory

Mark D. Masters

Dennis A. Newman

Luis R. Quinones

Conrad L. Slate

Frederick C. Taylor

Paul A. Velho

Robert M. Wilson

2015 & 2016 Industry Issues Competition Sponsors

James S. Aussem

R. John Badger, Jr.

Ben G. Baldwin, Jr.

Richard A. Bell

R. Clifford Berg, Jr.

James L. Butler

April Caudill

James M. Christian

Scott D. Colby

Donald E. Culver

Richard M. Denton

Michael P. Dow

Scott A. Emley

Matthew H. Garrow

Bruce K. Gendein

Louis F. Grammes

Robert L. Green

Ernest Guerriero

Douglas R. Head

Bruce W. Hubbard

Roger A. Hubley

Dennis R. Isabell

James B. Lammers

Stephen F. Libby

Joseph E. Lowry

Manuel E. Martinez

ANNUAL GIVINGcontinued from page 3

5

continued on page 7

T o me, being honored as a recipient of the Paul Mills Scholarship means the opportunity to come one step closer to making my dreams of being a certified public accountant a reality. Thanks to the generosity of this foundation, I am currently finishing my last semester of undergraduate studies while also preparing to sit for the CPA Examination.

– Alejandra Salinas, student, Illinois Wesleyan University, 2015 Paul S. Mills Scholarship recipient

PROGRAMS

Journal Author Awards

Journal Author Awards advance scholarly research and writing to build the library of knowledge in financial services.

2015 Recipients (for articles published in the Journal of Financial Service Professionals during calendar year 2014)

First Place: Kenneth M. Cymbal, JD, LLM, CLU, for “Private Split-Dollar Exit Strategies,” September 2014

Second Place: Patrick Leary, MBA, LLIF, Kathleen Kane, CLU, and David Woods, CLU, ChFC, for “Reversing the Decline in Life Insurance Ownership,” July 2014

Third Place: Nevin Adams, JD, and Jack VanDerhei, PhD, for “Closing the Retirement Expectations Gap: Variations in Demographics, Sources of Information, and the Implications of a Bad Guess,” January 2014

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Financial Education Partners

Financial Education Partners is a pro bono financial counseling program that works with the National Multiple Sclerosis Society and other community outreach organizations to offer financial guidance and hope for financial security to individuals in need. FEP is a recipient of the Multiple Sclerosis Society’s prestigious “Making a Difference” award.

American Business Ethics Award

Founded in 1994, the American Business Ethics Award has been recognizing and encouraging ethical practices in the American business marketplace for 20 years.

2014 Recipients

Small Company: Skyline Exhibitor Source, La Vergne, Tennessee

Large Company: Marvin Windows and Doors, Warroad, Minnesota

FOUNDATION CONTRIBUTORS

Joe P. Moore, Jr.

John K. Mulvey, Jr.

Vincent Munno

James R. O’Grady

Tracy W. Oishi

Michael G. O’Neill

Michael Paskowski

Thomas L. Petsche

Ruth R. Petty

Robert A. Phares

Frederick J. Russell

Karen P. Shute

Patricia A. Solberg

Terence B. Stanaland

Bruce P. Stone

Victor D. Thom

James R. Waldorf

Richard M. Weber

Robert B. Wellendorf, II

Garret S. Wong

In Kind Donation

Dickson C. Buxton

2015 & 2016 INDUSTRY ISSUES COMPETITION SPONSORScontinued from page 5

PLEDGE DONORS

Foundation Council $7,500 Pledge (over 5 years)

Kevin E. Baldwin

Anthony R. Bartlett

Richard A. Bell

R. Clifford Berg, Jr.

James M. Christian

Joseph E. Frack

Dale A. Vetter

Richard M. Weber

Chairman’s Council $2,500 Pledge (over 5 years)

Jayne Alford

James S. Aussem

Dudley R. Crow

Stephanie J. Curry

Kay I. Dempsey

Mark A. Hanna

Roderick P. Hansen

Thomas L. Petsche

James W. Tait

Alan R. Ziegler

Millennium Club $1,000 Pledge (over 5 years)

Gilbert J. Baker

Bruce Bare, Jr.

William J. Braun

April Caudill

Joshua J. Chase

Loretta Chiofolo

Robert C. Coleman

Michael P. Dow

John R. Driskill

Evan Fabricant

Penni P. Foust

Brian D. Horn

Kevin K. Kishimori

James B. Lammers

Marshall D. Lipson

William D. Magee, Jr.

Ronald K. McQueen

John K. Mulvey, Jr.

Terry L. Owens

A Duer Pierce, Jr.

Michael Quinlivan

Donald L. Reichert

Anne M. Rigney

Elizabeth A. Schwarzman

Robert O. Smith

Terence B. Stanaland

David L. Stratton

Frank B. Urso

David R. Watson

Jon W. Webber

Robert B. Wellendorf, II

Centennial Club $500 Pledge (over 5 years)

William E. Blauvelt

Carol A. Brink

Nathan G. Browning

Daniel A. Caldwell

John D. Campbell, Jr.

Pandelis Chryssostomides

Robert H. Colyar

Paul L. DeLisio

Jesse G. Dogillo

Leo C. Duffield, Jr.

Gary L. Dziubek

Jo Ann Engelhardt

John L. Erskine

Marc D. Friedman

Ernest Guerriero

Bruce A. Guillemette

Shane M. Johnson

Rozanne Kraft

Michael R. McReynolds

James J. Meehan

William S. Merriken, Jr.

Stephen B. Parrish

Perspective Financial Group

Ruth R. Petty

Laurene B. Prevette

Olin B. Ragsdale

Jack C. Raskin

Andrew J. Rinn

William M. Rogenmoser

David L. Stratton

David R. Stromecki

John E. T. Taylor

Ruth G. Timme

Elvin D. Turner

James R. Waldorf

George A. Webb

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he Paul Mills Scholarship meant the world to me, both literally and figuratively. It gave me the extra financial means needed to do something I’ve always dreamed of doing, studying abroad in Spain, Italy, and England for a year. The Paul Mills Scholarship helped give me the ability to see the world and I am eternally grateful!

– Cassidy Schuma, student, Florida State University, 2015 Paul S. Mills Scholarship recipient

T

PROGRAMS

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Industry Issues Competition

The Industry Issues Competition brings together teams of students from schools participating in the Society of FSP’s University Partners Program to present papers on a dynamic financial service industry topic. The topic for the 2016 competition, which was held on January 25 in Phoenix, was “Career Opportunities: Evaluating Careers and Attributes for Success in the Financial Services Profession.”

First PlaceUtah Valley University

Team Members: Brittany Frampton, Cody

Ulland, Anna Vlasova

Professor/Advisor: Luke Dean, PhD

Also pictured are

Foundation trustees: Jim Lammers, Jim

Christian & Mike Dow.

Second Place (Tie)California State University, Northridge

Team Members: Caroline Teixeira Bonelli,

Evan Davis, Ashhad Khan

Professor/Advisor: Inga Chira, PhD, CFP

Also pictured are

Foundation trustees: Jim Lammers, Jim

Christian & Mike Dow.

Second Place (Tie)University of Missouri-St. Louis

Team Members: Tamas Javor, Omar

Nassar, Christopher Shepard

Professor/Advisor: Gary Flotron, MBA,

CLU, ChFC, AEP

Also pictured are

Foundation trustees: Jim Lammers, Jim

Christian & Mike Dow.

Honorable MentionBowling Green State University

Team Members: Amber Feckley, Matthew Robillard

Professor/Advisor: Sung Bae, MBA, PhD