The American College, LUTC to Combine

September 8, 2000

The American College and LUTC, Inc. have approved a plan that will combine both organizations into a educational organization serving the financial services industry, the institutions announced at a press conference in New York City.

The plan, which will unite two of the financial services industry’s largest educational organizations, will combine the LUTC’s life insurance sales training expertise with The American College’s academic strengths in the technical subjects of financial services.

By agreeing to combine the two institutions, The American College and LUTC will be able to provide students and companies with a single integrated source for every level of learning, from pre-contract training to graduate-level education. The methods of education will include classroom-based, self-study, and Web-based learning.

The advanced use of technology is seen as one of the key benefits that the combined organization, which will be known as The American College, will offer students. Effectively bringing about the development of Internet-delivered courses to the entire spectrum of financial services companies, including banks and securities firms, is one of the key drivers behind the combination.

Utilizing the combined resources of both LUTC and The American College, a joint educational program will be introduced in January 2001, which incorporates the College’s five-course Certified Financial Planner® (CFP®) curriculum and the classroom-based LUTC techniques. This new program is designed to incorporate the technical education offered by the College with the skills-based training provided by LUTC. This will enable a student to take the CFP certification examination while also earning the LUTCF designation.

Under the consolidated structure, the educational, marketing, student support, and customer service functions will be promptly transferred to The American College’s 35-acre campus in Bryn Mawr and LUTC will sell its 20,000 square foot headquarters in Bethesda, Md. LUTC will maintain a smaller administrative office in the Washington, DC area during an interim period of transition.

The American College’s Huebner School will continue to offer its wide array of specialized courses leading to the Chartered Life Underwriter (CLU), Chartered Financial Consultant (ChFC), Certified Financial Planner (CFP), Registered Employee Benefits Consultant (REBC), and Registered Health Underwriter (RHU), as well as the Chartered Leadership Fellow (CLF) designations.

In addition, the College will continue to offer its Master of Science in Financial Services graduate degree, as well as numerous courses and seminars that are developed by its full-time faculty. LUTC will continue to offer a core curriculum leading to the LUTC Fellow (LUTCF) designation (conferred jointly with the National Association of Insurance and Financial Advisors) as well as specialty products and courses such as the LUTC Virtual Sales Assistant, The Agent’s Assistant, and benchmark ethics program. The LUTC Online Training Center will continue to be available at www.lutcotc.com.

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