Transamerica Case Study
Transamerica reached out to the NFEC after hearing many financial professionals say that they wanted an opportunity to teach basic financial literacy but lacked the time, resources, or training. The NFEC was tasked with building a comprehensive financial education program. Their final solution included a certification training program, customized curriculum, specialized testing and surveys, marketing promotions, and lining up a high-profile speaker for the program launch event.
To guide program development, the NFEC conducted demand- and supply- side surveys of Transamerica management and advisors. These data were used to tailor the program to best meet the needs of all parties involved while encouraging cross-department collaboration.
The NFEC created a custom Certification Financial Education Instructor program specifically designed for financial professionals. The in-studio, fully-scripted production featured leading financial education instructors and financial professionals teaching subject matter aligned with the Framework for Teaching Personal Finance – the only existing set of national standards for financial educators. The NFEC rounded out the certification program by adding a custom video introduction and uploading it for access via an online college education platform.
While the certified instructor program was in production, the NFEC customized curriculum to meet Transamerica’s specific needs. Our team worked with their compliance department and project leaders to ensure that the final version satisfied their needs. An extremely flexible, ready-to-use library of teaching tools was developed, including private-labeled PowerPoint® presentations, instructor’s guide and script, student guides, pre- and post-session assessments, homework activities, and certificates. These downloadable materials can be customized with each financial advisor’s logo and printed through the print-on-demand portal.
Promotional and co-promotional tools were developed by the NFEC and the Transamerica Financial Educators Academy. The resulting email and advertising templates help advisors promote events in their community. Customized graduation certificates also were created to commemorate attendees’ accomplishments and encourage participants to continue discussing the financial education topics with their families at home.
The campaign was launched on National Financial Educators Day, founded by the NFEC to honor financial educators. NFEC’s CEO, Vince Shorb, gave the keynote address at the Transamerica’s Retirement Readiness Summit, especially recognizing the exceptional efforts of three individuals who promoted financial wellness over the past year: Deb Rubin, Tom Hoffman, and Jania Stout. Customized awards were distributed by the NFEC and all attendees expressed excitement about the launch of the Transamerica Financial Educators Academy (TFEA).
The overall program arms financial professionals with the training and tools they need to improve financial literacy in whole communities. The program offers financial professionals the opportunity to become “Certified Financial Education Instructors,” with a goal to deliver real results and have real impact on customers and prospects.
The NFEC commends Transamerica’s leadership. They have launched one of the most comprehensive financial education initiatives in the financial industry today. Their dedication to serving communities across the country will have a lasting positive impact on the people and communities this campaign reaches.
Pictured: NFEC’s CEO, Vince Shorb with Stig O. Nybo (President, Transamerica Retirement Solutions – Pension Sales and Distribution) presenting the NFEC’s Financial Education Leadership Award to Deb Ruben (Transamerica Retirement Solutions Senior Vice President, TPA and RIA Distribution). Congratulations to Deb for a well-deserved award.
Initial Partnership Announcement – Financial Educators Day 2014
The National Financial Educators Council celebrated Financial Educators Day at Transamerica’s Retirement Readiness Summit in Miami on April 25, 2014. At the event, NFEC CEO Vince Shorb spoke to the financial professionals in attendance about advocacy for financial wellness. The live event concluded with recognition of the exceptional efforts of three individuals who made special efforts to promote financial wellness over the past year.
Financial Educators Day, which takes place the last Friday of April, is set aside to recognize innovative leaders working to improve the financial capabilities of people in their communities. This year Deb Rubin, Tom Hoffman, and Jania Stout were honored during Transamerica’s second annual Retirement Readiness Summit. Deb Rubin, senior vice president of TPA and specialist advisor distribution for Transamerica Retirement Solutions, received the NFEC’s 2014 Financial Education Leadership Award for her dedication to improving retirement outcomes for American workers.