Accredited Asset Management Specialist℠ (AAMS®)
The Accredited Asset Management Specialist covers the asset management process; investors, policy and change; risk, return and investment performance; asset allocation and selection; investment strategies; taxation of investment products; investment opportunities for individual retirement; investment considerations for small business owners; executive compensation and benefit plans; insurance products for investment clients and estate planning. This designation is awarded by the College for Financial Planning to investment professionals who complete its 12-module AAMS Professional Education Program, pass an examination, commit to a code of ethics and agree to pursue continuing education.
Accredited Investment Fiduciary® (AIF®)
An Accredited Investment Fiduciary is trained on how to comply with fiduciary standards of care within the industry. Those who earn the AIF mark demonstrate a thorough understanding of prudent investment practices and pledge to abide by the designation’s code of ethics by obtaining six combined hours of continuing professional education each renewal year. The AIF training and designation help mitigate this liability by instructing in practices that cover pertinent legislation and best practices. An Accredited Investment Fiduciary (AIF) designation represents a thorough knowledge of and ability to apply the fiduciary Practices.
Certified Financial Planner® (CFP®)
The Certified Financial Planner certification represents proven expertise within the financial planning profession. Those with the CFP designation have demonstrated competency in all areas of finance related to financial planning. Candidates for the CFP designation must pass a certification exam administered by the Certified Financial Planner Board of Standards Inc. that focuses on over 100 topics of concern to the financial planning field, such as retirement, estate, and investment planning. In addition to passing the CFP certification exam, candidates must also complete qualifying work experience (three years full-time or equivalent part-time experience in the financial planning field) and agree to adhere to the CFP Board’s code of ethics and professional responsibility and financial planning standards.
Certified Plan Fiduciary Advisor® (CPFA®)
A Certified Plan Fiduciary Advisor is a financial professional that demonstrates expertise and experience working with retirement plans. During the CPFA certification, candidates spend around two months learning about fiduciary services for retirement plans. CPFAs can help their clients objectively review their financial status, identify potential concerns, and recommend the appropriate solutions for addressing these retirement matters. The National Association of Plan Advisors (NAPA) is an organization designed for retirement plan advisors. This organization oversees all coursework and exams required to become a CPFA. To achieve a CPFA certification, candidates must pass the NAPA CPFA examination.
Chartered Financial Analysts® (CFA®)
The Chartered Financial Analysts is for finance and investment professionals, in the fields of investment management and financial analysis of stocks, bonds and their derivative assets. The program focuses on portfolio management and financial analysis, and provides knowledge of other areas of finance. Holders of the Chartered Financial Analyst designation are securities analysts, money managers and investment advisers who have completed the CFA program, a graduate-level, self-study curriculum and examination program for investment professionals that covers a broad range of investment topics. CFA charter holders are required to affirm their commitment to high ethical standards and voluntarily submit to the authority of CFA Institute.
Certified Investment Management® (CIMA®)
Certified Investment Management Analyst is the international certification for financial advisors and investment consultants and one of the only professional certifications in financial services to meet international accreditation and quality standards. Candidates for the CIMA designation must have a minimum of three years financial experience and a satisfactory record of ethical conduct, as determined by Investments & Wealth Institute Admissions Committee. All candidates must pass a Qualification Examination and Certification Examination administered by the Investments & Wealth Institute. In order to maintain the CIMA designation, the candidate must complete 40 hours of continuing education every two years.
Chartered Financial Consultant® (ChFC®)
The Chartered Financial Consultant professional is qualified to assist individuals, professionals, and small-business owners with comprehensive financial planning, including insurance, income taxation, retirement, investments, and estate planning. The ChFC credential is a financial planning designation awarded by The American College. In order to receive the designation, a consultant must meet experience requirements and ethics standards, and agree to comply with The American College Code of Ethics and Procedures. Certain ChFC designees are also required to earn 30 continuing education hours every two years.
Chartered Life Underwriter® (CLU®)
The Chartered Life Underwriter is designation for individuals who wish to specialize in life insurance and estate planning. Financial planners with a CFP designation will often earn the CLU designation title to demonstrate their expertise in the areas of life insurance and estate planning. The CLU designation is awarded by The American College to insurance and financial services professionals who have met the College’s three-year business experience requirement, passed its eight college-level education courses and agreed to abide by its code of ethics.
Chartered Retirement Planning Counselor® (CRPC®)
The Chartered Retirement Planning Counselor covers the entire retirement planning process, including meeting multiple financial objectives, sources of retirement income, personal savings, employer-sponsored retirement plans, income taxes, retirement cash flow, asset management, estate planning and more. The CRPC has in depth knowledge on planning both before and after retirement. Successful applicants earn the right to use the CRPC designation with their names for two years, CRPC professionals must complete 16 hours of continuing education and pay a small fee to continue using the designation.
Certified Public Accountant (CPA)
A Certified Public Accountant is licensed and regulated by their state boards of accountancy. While state laws and regulations vary, the education, experience and testing requirements for licensure as a CPA generally include: Minimum college education (typically 150 credit hours with at least a baccalaureate degree and a concentration in accounting), Minimum experience levels (most states require at least one year of experience providing services that involve the use of accounting, attest, compilation, management advisory, financial advisory, tax or consulting skills, all of which must be achieved under the supervision of or verification by a CPA), and successful passage of the Uniform CPA Examination. In order to maintain a CPA license, states generally require the completion of 40 hours of continuing professional education (CPE) each year (or 80 hours over a two year period or 120 hours over a three year period). Additionally, all American Institute of Certified Public Accountants (AICPA) Members are required to follow a rigorous Code of Professional Conduct which requires that they act with integrity, objectivity, due care, competence, fully disclose any conflicts of interest (and obtain client consent if a conflict exists), maintain client confidentiality, disclose to the client any commission or referral fees, and serve the public interest when providing financial services. The vast majority of state boards of accountancy have adopted the AICPA’s Code of Professional Conduct within their state accountancy laws or have created their own.
Certified Private Wealth Advisor® (CPWA®)
The Certified Private Wealth Advisor certification is an advanced professional certification for advisors who serve high-net-worth investors. Those with the CPWA designation have advanced knowledge and techniques to address the sophisticated needs of clients. Candidates for the CPWA designation must have five years of relevant experience in the financial services industry, a satisfactory record of ethical conduct, and complete an education program with a registered education provider. The curriculum focuses on planning strategies for high-net worth individuals, asset protection, tax and estate planning and legacy planning. All candidates must pass an examination administered by the Investments & Wealth Institute.
Accredited Estate Planner® (AEP®)
The Accredited Estate Planner designation is a graduate level specialization in estate planning, obtained in addition to already recognized professional credentials within the various disciplines of estate planning. It is awarded by the National Association of Estate Planners & Councils (NAEPC) to recognize estate planning professionals who meet stringent requirements of experience, knowledge, education, professional reputation, and character, and who commit to the team concept of estate planning. An AEP must meet credential requirements, devote at least a third of one’s time to estate planning and estate planning activities, meet a minimum five years of experience actively engaged in estate planning and estate planning activities, and complete designated graduate coursework if the applicant has not been actively engaged in estate planning for 15 years or more. The AEP designation has a continuing education requirement of 30 hours during the prior two years, of which at least 15 hours must be in estate planning.
Chartered Retirement Planning Specialist℠ (CRPS®)
The Chartered Retirement Planning Specialist specialize in creating, implementing and maintaining retirement plans for businesses. This designation is often obtained by financial advisors seeking to work with retirement plans for companies and small businesses. The study program to become a CRPS covers types and characteristics of retirement plans, including IRAs, small business retirement plans, defined contribution plans, 401(k) plans and nonprofit and government plans. It also covers plan distributions, plan design and implementation, plan establishment and operation, and fiduciary issues.
Tax Planning Certified Professional® (TPCP®)
The Tax Planning Certified Professional program equips learners with the skills to identify, evaluate, and implement comprehensive tax strategies for individuals and businesses owners across their lifespan, focusing on maximizing tax benefits while ensuring compliance with current legislation. To meet the program’s requirements and receive the TPCP designation, a candidate must successfully complete the three required courses on tax strategy, have at least three years of experience in financial planning, and agree to comply with The American College Code of Ethics and Procedures.
Insurance Agent
An Insurance Agent is in the business of selling life, health, long-term care, fixed annuity, and/or disability insurance products. Insurance agents receive normal commissions through the sale of these insurance products which creates a potential conflict of interest similarly as described in the Registered Representative explanation.