Alex Murguia and Wade Pfau - The Four Retirement Income Styles

This week on Standard Deviations with Dr. Daniel Crosby, Dr. Crosby is joined by Drs. Alex Murguia and Wade Pfau of RISA. Alex graduated from George Washington University with a doctorate in Clinical Psychology. During this time, he focused his research efforts on psychometrics and was a research fellow for the National Institutes of Health. He created a questionnaire to assess how your health beliefs affect how you utilize medical services. It was well-received and set him up for an academic career. Upon graduating, his research interests evolved to investments, and he sought a formal career in the financial industry. He joined McLean Asset Management and was able to publish a number of articles. He also founded a financial planning software company to better serve the industry and our underlying clients. He quickly became disillusioned by the lack of assessment tools used in our profession that can help individuals determine their best path for retirement success. He took Wade’s framework for Retirement Income Planning and sought to quantify these concepts into a workable retirement income model. Wade is a one-man think tank. Wade’s retirement income framework was the base that helped Alex build out the RISA®. He is the Professor of Retirement Income at The American College of Financial Services, a higher education institution for financial planners. He leads the curriculum for their Retirement Income Certified Professional designation (RICP®). He is also a partner with Alex at McLean Asset Management and Retirement Researcher. Wade earned a Ph.D. in economics from Princeton University in 2003 and became a CFA charter holder in 2011. Wade regularly publishes his research on retirement income topics in leading peer-reviewed practitioner-based financial planning research journals.