DENVER (August 3, 2022) – The Financial Planning Association® (FPA®) is pleased to announce Greg Geisler, Ph.D., J. William “Bill” Harden, Ph.D., CPA, ChFC, and David S. Hulse, Ph.D., as the recipients of the 2022 Montgomery-Warschauer Award for their March 2021 Journal of Financial Planning paper, “A Comparison of the Tax Efficiency of Decumulation Strategies.”
In its 11th year, the Montgomery-Warschauer Award recognizes 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. The award is named after the late Henry Montgomery, who helped create the Journal, and Tom Warschauer, the Journal’s first academic editor.
“For 44 years, the Journal of Financial Planning has been on the cutting-edge of research and insight that financial planners need to build their planning competencies and serve their clients,” says FPA President Dennis J. Moore, MBA, CFP®. “We are delighted to recognize the contributions made by Geisler, Harden, and Hulse that have further built the body of professional knowledge through the pages of the Journal of Financial Planning.”
The winning paper was selected by the Journal of Financial Planning’s Editorial Advisory Board and the Journal editorial staff. The award will be presented to Geisler, Harden, and Hulse, at the FPA Annual Conference 2022 in Seattle, Wash., Dec. 12-14.
The paper examines several decumulation strategies for a client approaching retirement with a mix of tax-favored retirement accounts and taxable accounts; each holding appreciated stocks and taxable bonds. The analysis applies these strategies to three “nest egg” scenarios to determine their resulting portfolio lives while examining tax consequences throughout those lives. The results provide insights that financial planners can use to tailor tax-efficient decumulation recommendations that better fit a client’s particular situation, increasing how long their wealth lasts during retirement.
“After decades of saving, the decisions clients make about their sequence of withdrawals can seriously impact the longevity of those savings. The paper from Drs. Geisler, Harden, and Hulse provides financial planners with an important tool to help them guide clients through these decisions,” says Danielle Andrus, editor of the Journal of Financial Planning.
Greg Geisler, Ph.D., received his doctorate from the University of North Carolina-Chapel Hill and is a clinical professor of accounting at Indiana University, where he teaches a course on “Taxes and Financial Planning” to students studying to be CFP® professionals. With a research focus on how taxes impact financial planning, he has published eight papers in the Journal of Financial Planning, including one that earned him the 2017 Montgomery-Warschauer Award.
J. William “Bill” Harden, Ph.D., CPA, ChFC, is an associate professor in the Bryan School of Business and Economics at the University of North Carolina at Greensboro, where he teaches tax courses. With over 30 years of experience in taxation, Bill has been involved in CPE instruction for over a decade and was awarded the 2016 NCACPA R. Donald Farmer Award. Bill has authored over 50 articles in tax and financial planning journals, including the Journal of Financial Planning, Journal of Financial Service Professionals, Strategic Finance, National Tax Journal, Tax Notes, and Tax Advisor.
David S. Hulse, Ph.D., is an emeritus professor in the Von Allmen School of Accountancy and the Martin School of Public Policy at the University of Kentucky. He has published tax-related articles in many journals and is a contributing author for a federal taxation textbook. He received an undergraduate degree from Shippensburg University, an M.S. from Louisiana State University, and a Ph.D. from the Pennsylvania State University.
“This paper is an excellent example of how academic research flows into practical advice for planners. It further demonstrates how multiple disciplines have a tangible impact on clients by increasing the knowledge and expanding the tools available to financial planners,” added Inga Timmerman, Ph.D., CFP®, academic editor of the Journal of Financial Planning.
Geisler, Harden, and Hulse will present the award-winning research at FPA Annual Conference 2022.
About the Financial Planning Association
The Financial Planning Association® (FPA®) is the leading membership organization and trade association for CERTIFIED FINANCIAL PLANNERTM professionals and those engaged in the financial planning process. FPA is the CFP® professional’s partner in planning by helping them realize their vision of professional fulfillment through practice support, learning, advocacy, and networking.
About the Journal of Financial Planning
First published in 1979, the mission of the Journal of Financial Planning is to expand the body of knowledge in the financial planning profession. With monthly feature articles, interviews, columns, and peer-reviewed technical contributions, the Journal's content is dynamic, innovative, thought-provoking, and directly beneficial to financial planners in their work. Learn more at www.fpajournal.org.