Alums and RetireUS Co-Founders Prepare Future Financial Planners for Success in Co-op Program

RetireUS co-founders Michael Scarpati '10 and Michael Blahusch '08, ‘10 (MBA) knew there had to be a better way.

The Saint Joseph’s University alums, who first met as young financial planners just getting their footing in the industry, quickly understood the phrase “baptism by fire” as they began their careers. Grueling workdays. Client leads through trade shows. Pounding the pavement just to get a foot in the door. Yes, there had to be a better way.

In the competitive field of financial planning, the early years present a challenge — uncovering leads to find clients, trying to understand a fast-moving market and a learning curve that can be burnout-inducing.

Scarpati, not wanting future financial planners to go through the same journey, developed an internship program at RetireUS in 2012. Four years later, RetireUS’ co-op program was born, with Scarpati and Blahusch working in concert with Todd Krug, director of the Erivan K. Haub School of Business Cooperative Education program to develop the initiative. Through Krug’s mentorship and guidance, the co-op program has taken off – with nearly every Saint Joseph’s co-op student becoming a full-time employee of RetireUS post-graduation.

Students participating in the program learn the three main pillars of the business through an intensive 26-week curriculum, which includes a course on financial planning, an understanding of the tools and techniques of the sales process and a deep dive into business operations.

The curriculum is designed to provide students with everything needed to succeed in the field, even providing the opportunity to become a fully licensed financial planner while still in college. That idea was born out of Blahusch’s introduction to the industry upon graduation.

“I had no idea what was going on in the industry at first,” says Blahusch. “I knew there had to be a curriculum or a program that could shrink the learning curve that started before graduation. We asked ourselves, ‘Why are we waiting? What if students want to start sooner on a book of business [clients] or gain experience with clients in this competitive industry?’”

“It’s a brilliant and successful program, because launching a career in financial planning upon graduation is incredibly challenging,” says Krug, who has worked closely with Scarpati and Blahusch since the co-op’s inception. “With RetireUS’ approach, students engage in learning and client generation prior to graduation. By graduation, they’re already working with established clients and their careers are up and running.”

Brian Gassaway '21, a recent graduate who participated in the co-op program and a current employee of RetireUS, benefited from the comprehensive professional development plan.

“Through the co-op, I passed the Series 65 exam and obtained additional licenses to become a fully licensed financial advisor by my junior year. I positioned myself to be years ahead of my peers in my financial planning career,” said Gassaway.

Saint Joseph’s co-op program continues to be a strong resume builder. Students learn critical time management, teamwork and communication skills while applying classroom knowledge to real-life situations. At RetireUS, Blahusch notes, co-op students must buy into the three key aspects of the company’s culture: being a team player, having character and wanting to win.

Having that strong character and team player mentality comes in handy with the organization’s work that goes above and beyond just financial planning. Scarpati, who in 2019 helped found OWE (One With Earth), a philanthropic organization, incorporates charitable work into the co-op, assuring a well-rounded experience.

So, what’s next? RetireUS’ relationship is close with Saint Joseph’s and other area schools, but they hope to expand across the nation, offering the curriculum virtually and welcoming students into the program no matter where they may be.

“Co-op provides a tremendous opportunity for focus over a specific period of time,” says Scarpati. “We want to offer this to more students across the nation.”

“No matter what we’re doing, though, we understand our roots,” says Blahusch. “We can tread other waters only because of the commitment Saint Joseph’s gives to us.”