So, what do all of those letters mean after a financial advisor's name?
Professional education in any form makes an important statement about the dedication of your advisor. But there are so many designations and certifications in the marketplace today, and they are not all equivalent in the depth of study involved or the amount of expertise they represent.
Characteristics of high-quality designations include extended periods of study, rigorous examinations and requirements for continuing education. All of the designations described below meet these criteria.
CAP®: Expertise in Philanthropy
CAP
® designees have taken three graduate-level courses covering knowledge in all aspects of charitable giving approaches, applications, tools and relationships. (Chartered Advisor in Philanthropy
®)
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CASL®: Retirement Coaching
Holders of the CASL
® designation have completed five in-depth courses with comprehensive exams covering such subjects as retirement planning, social gerontology, health and long-term care financing, investments and estate planning. (Chartered Advisor for Senior Living
®)
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ChFC®: Advanced Financial Planning
The ChFC
® professional has taken an nine-course curriculum resulting in the most comprehensive financial planning designation available today. All educational courses preparing for CFP
® Certification are included plus specialized knowledge in such subjects as the financial system in the economy, financial planning applications, practical estate planning or additional study in retirement issues. (Chartered Financial Consultant
®)
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CFP® Certification: Financial Planning
The highly regarded CFP
® mark represents a strong grounding in financial planning, insurance planning, income taxation, retirement expertise, investments and estate planning. In addition, a final comprehensive exam insures the ability to put this broad knowledge into practice. (CERTIFIED FINANCIAL PLANNER™ Practitioner)
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CLF®: Focus on Leadership
The CLF
® is the only managerial leadership designation developed exclusively for financial services. Seven courses combine practical applications with strong coaching in management, leadership, interpersonal relationships, strategic planning and creative problem solving. (Chartered Leadership Fellow
®)
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CLU®: Insurance Specialty
The oldest, most-respected designation in the financial services arena, CLU
® represents the pinnacle in insurance expertise. Eight rigorous courses cover such subjects as life insurance, planning for business owners and professionals, estate planning, investments, law, health insurance and more. (Chartered Life Underwriter
®)
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FSS: Financial Services Essentials
All of the essentials are here, including an overview of financial planning, ethics, prospecting, meeting client needs, product essentials, retirement planning, annuities, disability insurance and estate planning. Most FSS students have participated in live classroom learning, further enhancing their working knowledge of this comprehensive subject matter. (Financial Services Specialist) Classes are offered in conjunction with the National Association of Insurance and Financial Advisors(
NAIFA).
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LUTCF: Insurance Essentials
Subjects range from personal markets to meeting the needs of business clients, with a wide range of product topics and life, retirement and estate planning courses. Interaction with other students heightens the learning and expertise that these professionals bring to their clients.
(LUTC Fellow) This designation is conferred in conjunction with the National Association of Insurance and Financial Advisors (
NAIFA).
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REBC®: Employee Benefits
Five comprehensive courses cover such topics as group benefits, retirement planning, executive compensation, HR issues, and advanced topics in managed care. (Registered Employee Benefits Consultant
®)
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RHU®: Health Insurance Three strong courses covering group benefits and such subject areas as individual health insurance and managed care. (Registered Health Underwriter
®)
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Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP (with flame logo)® in the U.S., which it awards to individuals who successfully complete CFP® Board's initial and ongoing certification requirements.
