CFFP professional designation program takes on challenge of on-again, off-again fiduciary standards
CENTENNIAL, CO–(Marketwired – September 11, 2017) – The College for Financial Planning’s (CFFP) newly revised Chartered Retirement Plans Specialist℠ or CRPS® professional designation program will help provide clarity for those confused by the on-again, off-again new fiduciary standards under review by the U.S. Department of Labor (DOL).
The DOL’s fiduciary standard is the industry’s highest bar for responsibility and standardizes requirements within the industry. While some of the new rules have been put on hold, Jim Pasztor, vice president of academic affairs at CFFP, said, “For all intents and purposes, being held to the fiduciary standard when providing advice to retirement investors became the law on June 9, 2017.”
To help advisors navigate the new standard, the CRPS® designation — the nation’s premier credential for the fast-growing fields of retirement plan administration and advising — includes new content on the strict fiduciary requirements of DOL and the Employee Retirement Income Security Act (ERISA), as well as additional coverage on small business owners using defined benefit plans, new plan design, and plan selection guidelines for plan sponsors.
Educational burden falls to advisors
Pasztor adds, “With boomers retiring in big numbers, and all the focus on the advice people are getting and the fees they are paying, it’s on the advisor to get the education they need to provide sound, fiduciary advice.” Being a fiduciary not only requires advisors to always put their clients’ best interests first, it also requires that advisors have the competency and in-depth knowledge to truly look out for their clients.
The CRPS® program consists of seven modules delivered via CFFP’s exclusive online learning platform. Advisors can attend live classes and review sessions, or view a series of on-demand course videos featuring four members of CFFP’s industry-expert faculty. For the first time, the CRPS® program will also feature MP3 recordings for podcast-style learning at the most convenient times. Also new this year is a separation of the video courses by learning outcomes rather than full-length modules, meaning most videos fall into a 10- to 12-minute range that fit any viewer’s schedule.
Additional information on the CRPS® and CFFP’s other programs can be found at cffpinfo.com, or by calling 1-800-237-9990.
About the College for Financial Planning
Founded in 1972, the College for Financial Planning provides accessible and flexible degree, non-degree, and continuing professional education programs to students nationwide. Shortly after its founding, the College introduced the CERTIFIED FINANCIAL PLANNER™ certification, which has evolved into the world’s most recognized and respected financial planning credential, with more than 65,000 professionals in the U.S. having earned the credential.
In addition to its CFP® Certification Professional Education Program, the College offers two graduate degree programs that provide more in-depth knowledge of the finance industry. Professional designation programs are also available, with specializations ranging from asset management to retirement planning. The College for Financial Planning is accredited by the Higher Learning Commission and is a member of the North Central Association. More than 155,000 students have graduated from the College’s programs. For more information, visit cffpinfo.com.