DENVER - The Financial Planning Association® (FPA®) is pleased to announce that the recipients of the 2014 Montgomery-Warschauer Award are Michael Finke, Ph.D., CFP®; Wade D. Pfau, Ph.D., CFA; and David M. Blanchett, CFP®, CFA for their June 2013 Journal of Financial Planning article “The 4 Percent Rule Is Not Safe in a Low-Yield World.”
Now in its third year, the Montgomery-Warschauer Award honors the paper published in the Journal of Financial Planning that provided the most outstanding contribution to the betterment of the profession in the preceding year. This award was named for the late Henry Montgomery, who helped create the Journal, and Tom Warschauer, the Journal’s first academic editor.
Winners are selected based on nominations by the FPA editorial staff, including the practitioner editor and academic editor, along with the votes of the Journal’s
Editorial Advisory Board. The award will be presented at FPA’s annual conference – FPA BE: Seattle 2014
– Sept. 20-22, 2014.
“The Journal strives to expand the body of knowledge of the financial planning profession by showcasing dynamic, innovative, thought-provoking content that is beneficial to financial planners in their work,” said FPA Executive Director and CEO Lauren M. Schadle, CAE. “Michael, Wade and David have made tremendous contributions to the Journal of Financial Planning and to the profession. We will be honored to recognize them at our annual conference in September.”
Michael Finke, Ph.D., CFP®, is professor and director of retirement planning and living in the Department of Personal Financial Planning at Texas Tech University. Wade D. Pfau, Ph.D., CFA, is a professor of retirement income at the American College. And David M. Blanchett, CFP®, CFA, is head of retirement research for Morningstar’s Investment Management group.
A member of the Journal’s Editorial Advisory Board noted that Finke, Pfau and Blanchett were deserving of this recognition because, “Their paper provides new insights into a rule of thumb that has been overused and incorrectly used for too long. It alerts planners to the risk of relying on simplistic thinking without taking into account shifts in the market place. I think this paper forces planners to rethink the soundness of their advice and to investigate alternative ways of preserving client assets.”