John Salterage 38

Wealth manager and partner/associate professor of personal financial planning, Evensky & Katz Wealth Management/Texas Tech University

I am a Leader

40 Under 40
40 Under 40

I am a Leader

40 Under 40

I am a Trailblazer

Trail Blazers

I am an Entrepreneur

40 Under 40

I am a Visionary

40 Under 40

I am an Idealist

40 Under 40

Meet the Leaders

Whether in their own firms or in their communities, these young people are leading the charge toward innovation in financial planning, bringing new opportunities to advisers and clients alike. Here, they share the best leadership advice they’ve received in their careers.

Meet the Trailblazers

This group doesn’t subscribe to groupthink. They are spearheading new ways of practicing and delivering financial advice — in some cases reaching populations previously considered unprofitable to serve. We ask them about the most unique and unusual ideas they’ve had.

Meet the Entrepreneurs

In addition to helping clients reach their financial goals, some in the advice industry face the challenge of running a business or a team. Others have started companies to support this pursuit. These young people are flourishing amid the balancing act — and some got an early start.

Meet the Visionaries

It’s not about what is, but what will be — and what can be — the future of the financial planning industry for this group of forward-looking advisers, educators and executives. Their insights pull the rest of the profession into the next stratum.

Meet the Idealists

Life experiences shape our ideals, especially for these young professionals who see challenges in the advice industry and the world — and set out to meet them. They also have words of wisdom for the next generation.

About John

John Salter is bringing the classroom into the client meeting room, and vice versa.

He not only sees what's going on in the trenches with clients, he also teaches in Texas Tech University's personal financial planning department.

His research is currently focused on the use of reverse mortgages in retirement distribution management. He published a notable academic piece, "Standby Reverse Mortgages: A Risk Management Tool for Retirement Distributions," in the Journal of Financial Planning in 2012.

The paper, co-authored by Shaun Pfeiffer, associate professor at Edinboro University, and Harold Evensky, president of Evensky & Katz, looked at using a Home Equity Conversion Mortgage Saver reverse mortgage to help sustain retirement income. The line of credit tied to the HECM Saver acts as a risk management tool: It hedges the risk of the client having to draw income from his or her portfolio in a down year.

"It's there in the future if you need it, but in an ideal situation, you never use it," Mr. Salter said of the reverse mortgage strategy.

He was also a co-author with Mr. Pfeiffer and Mr. Evensky on a 2013 paper, "The Benefits of a Cash Reserve Strategy in Retirement Distribution Planning."

Unlike many academics though, Mr. Salter's findings can be put to work in real-life situations. He's now working with a client whose situation fit the mold for the HECM Saver strategy.

"That's the fun part of thinking about problems at the firm — taking them to school and finding the solution," he said. "I try to keep the research fairly practical, hopefully for everyone and not just for us."

For others looking to make a go at both being a practitioner and an academic, Mr. Salter recommends taking advantage of luck, which he defines as the nexus where preparation meets opportunity.

"I try to be prepared through working hard, and I have acted on the opportunities that have presented themselves as being useful for moving forward in my career," he noted in the InvestmentNews 40 Under 40 survey. "Maybe just as important, recognizing those opportunities that should be avoided."

— Darla Mercado

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Fast Facts

  • Guilty pleasure: Cookie dough that's half-cooked in a microwave
  • Was a semi-professional drag racer in high school
  • Three people he would invite to a dinner party: Albert Einstein, Abraham Lincoln and John Candy

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