About the Conference
By the end of the next decade, the number of older Americans will have grown rapidly, but half if not more of the elderly will suffer from cognitive deficits after the age of 80. Our 2016 Pension Research Council symposium explored how financial decision-making changes at older ages, how and when financial advice can be useful for the older population, and what solutions and opportunities are needed to resolve the likely problems that will arise.
This conference was by invitation only.
Conference videos are available here.
Conference Agenda
Thursday, May 5, 2016
Introductory Remarks: Olivia S. Mitchell, The Wharton School
Session I: The Aging Brain and Financial Decision Making
- Wandi Bruine de Bruin, Leeds University Business School: “Aging and Decision-Making Competence” (presentation slides available here, paper available here)
- Keith Jacks Gamble, DePaul University: “Aging and Financial Decision Making” (presentation slides available here, paper available here)
Discussant: Brett Hammond, Capital Group (video available here)
- Gregory R. Samanez-Larkin, Yale University: “Risky Choices, Aging, and Financial Decision Making”
- Raquel Fonseca, UQAM; Arie Kapteyn, RAND; and Gema Zamarro, University of Arkansas: “Retirement and Cognitive Function” (paper available here)
Discussant: Fredrick Axsater, State Street Global Advisors (video available here)
Keynote Speaker: Ursula Staudinger, Columbia University (video available here)
Session II: Financial Advice and Retirement Planning
- Surya Kolluri and Cynthia Hutchins, Bank of America Merrill Lynch: “Seven Life Priorities in Retirement” (presentation slides available here, paper available here)
- Hugh Hoikwang Kim, Sungkyunkwan University; Raimond Maurer, Goethe University; and Olivia S. Mitchell, the Wharton School: “When to Delegate? A Life Cycle Analysis of Financial Advice” (presentation slides available here, paper available here)
Discussant: David Richardson, TIAA Institute (video available here)
- Gordon L. Clark, Maurizio Fiaschetti, and Peter Tufano, Oxford University: “Approaching Retirement: The Categories, Timing and Correlates of Advice Seeking” (presentation slides available here, paper available here)
- Robert Clark, North Carolina State University and Janet Cowell, North Carolina State Department of the Treasurer: “Annuity Options in Public Pension Plans” (presentation slides available here, paper available here)
Discussant: Briggette Miksa, Allianz Asset Management AG (video available here)
Keynote Speaker: Nora Dowd Eisenhower, Consumer Financial Protection Bureau
Friday, May 6, 2016
Session III: Solutions and Opportunities
- Martha Deevy and Marti DeLiema, Stanford University Center on Longevity: “Aging and Exploitation: How Should the Financial Service Industry Respond?” (presentation slides available here, paper available here)
- Ryan Wilson, Law Offices of T. Ryan Wilson: “The Financial Landscape for Older Adults” (presentation slides available here)
- Christine Kieffer and Gary Mottola, FINRA: “Understanding and Combating Investment Fraud” (presentation slides available here, paper available here)
Discussant: Clint Zweifel, Missouri State Treasurer
Session VI: Roundtable
John Phillips, Social Security Administration – Moderator
Alexa von Tobel, LearnVest
Steve Utkus, Vanguard
Matt Fellowes, HelloWallet