Michael Finke, Wade D. Pfau and David M. Blanchett have been named as the recipients of the FPA 2014 Montgomery-Warschauer Award for their article published in the June 2013 Journal of Financial Planning, the Financial Planning Association announced Thursday.
The three authored the article "The 4 Percent Rule is Not Safe in a Low-Yield World."
The award honors papers in the journal with the most outstanding contribution to the betterment of the profession in the preceding year, the FPA says. The award is named for the late Henry Montgomery, who helped create the journal, and Tom Warschauer, its first academic editor. The winners are selected based on nominations by the FPA's editorial staff. The award will be presented at the FPA 2014 conference in Seattle in September.
“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,” says FPA Executive Director and CEO Lauren M. Schadle. “Michael, Wade and David have made tremendous contributions to the Journal of Financial Planning and to the profession."
Finke is a professor and the director of retirement planning and living in the Department of Personal Financial Planning at Texas Tech University. Pfau is a professor of retirement income at the American College. Blanchett is head of retirement research for Morningstar’s investment management group.