What is an Accredited Estate Planner® (AEP®)

Administered by the National Association of Estate Planners & Councils, the Accredited Estate Planner® certification is awarded only to estate planning professionals who meet special requirements of education, experience, knowledge, professional reputation, and character.

Brief Overview of Requirements for all Applicants:

• Active practice for a minimum of five years within the following disciplines: accounting; insurance and financial planning; law; philanthropy; and trust services
• Devote at least 1/3 of one’s time to estate planning
• One or more of the following professional credentials: JD (active law license required if this is the only credential with which you are applying), CPA, CLU®, CFP®, ChFC®, CPWA®, CFA, CAP®, CSPG, CTFA, MSFS, and MST
• Three professional references from individuals with whom you have worked with on estate planning cases and assignments
• Current membership in an affiliated local estate planning council

Additional Requirement for Applicants with 5-15 years of Experience:

• Two graduate courses provided through The American College

What Is a Certified Exit Planning Advisor (CEPA)?

The Certified Exit Planning Advisor (CEPA) credential is for professional advisors who want to effectively engage more business owners. Through the process of Exit Planning (the Value Acceleration Methodology), owners can build more valuable companies, have stronger personal financial plans, and align their personal goals. Earning CEPA doesn’t change your expertise, it enhances your ability to engage business owners and have value-added conversations around growth and exit.

Earning CEPA is for those that want to:

• Differentiate yourself from the competition
• Gain better access to business owners
• Become more engaged on a business owner’s advisory team
• Have deeper and more holistic conversations with business owners
• Grow your referral network of professional advisors
• Access hundreds of marketing and business development tools tailored for owners

What is a ChFC (Chartered Financial Consultant)?

ChFC stands for Chartered Financial Consultant, a designation that has been in existence since 1982. The ChFC is lesser known than the CFP®, but still stands as a distinguished certification in financial planning. The education portion for a ChFC is robust, comprising of nine college-level courses. Courses focus on insurance planning, insurance planning for business owners, estate planning, income tax planning, retirement planning techniques, investments (risk analysis, tax issues with investing), personal financial planning, etc. There are also courses that focus on planning with different types clients, such as divorcees or special needs families. The American College is more insurance focused than the CFP®. There are 9 courses that must be successfully completed versus the CFP® having generally 7, the 9 courses are easier than the CFP® by a significant margin. Like the CFP®, you must continue to earn CE credits to maintain your designation. This involves taking courses and participating in programs to keep current on financial planning practices. Meeting all of these requirements leads to a ChFC designation. These high standards ensure that you give knowledgeable and helpful advice that suits your clients’ needs.

What is a CERTIFIED FINANCIAL PLANNER™ (CFP®)?

The CERTIFIED FINANCIAL PLANNER™ is a professional certification mark for Financial Planning Professionals. It is conferred by the Certified Financial Planner Board of Standards in The United States, and by 25 other organizations affiliated with the FPSB (Financial Planning Standards Board. CFP® Professionals are required to have a bachelor’s degree (or higher) from an accredited college or university. As a first step to the present CFP® certification criteria, “students” must master a curriculum of approximately 100 topics on financial planning. Examples of some of the topics are: General principles of finance, insurance planning, employee benefits, State and federal income tax planning, estate tax, gift tax, transfer tax, asset protection planning, retirement planning, estate planning, financial planning, financial consulting. The original CFP® exam was a 2-day, 10 hour of total testing time exam. It is estimated that at the time of the original CFP® exam that there was an approximate pass rate of less than 30% according the proctors administering the exam. The CFP® Professionals follow a standard process of helping clients by following a process referred to as “EGADIM”.

• Establishing and Defining the Client Relationship
• Gathering Client Data and Goals
• Analyzing and Evaluating the Client's Financial Status
• Developing and Presenting Financial Planning Recommendations and Alternatives
• Implementing the Financial Planning Recommendations
• Monitoring the Financial Planning Recommendations

What is a CLU® (Chartered Life Underwriter®)?

Chartered Life Underwriter® - The Oldest Designation The CLU® is widely considered to be the most respected insurance designation in the industry. This designation was created in 1927. The CLU®; has traditionally been pursued by advisors/planners who specialize in life insurance for business or estate-planning purposes. In short, professionals with this designation are often viewed as “experts” in the area of life insurance. They can review your current program life insurance program and determine if it is a proper fit for you and what you are looking to accomplish. If the product you own is not suitable for your goals and objectives, the professional can offer recommendations and advice on this topic. If you have purchased life insurance from someone not having this designation, it is not a bad idea to have it reviewed by a CLU.

The current course curriculum for the CLU® includes five required courses plus three elective courses.
The required courses include the following:

• Fundamentals of Insurance Planning
• Life Insurance Law
• Individual Life Insurance
• Fundamentals of Estate Planning
• Planning for Business Owners and Professionals

The three elective courses can be chosen from such subjects as the following:

• Financial Planning: Process and Environment
• Individual Health Insurance
• Income Taxation
• Group Benefits
• Planning for Retirement Needs
• Investments
• Estate Planning Applications

What is a Retirement Income Certified Professional® (RICP®)?

The purpose of a retirement financial planner is to help individuals who are at or near retirement build a plan to ensure they meet their retirement income and other financial goals throughout their nonworking years and manage the many risks they may face. As coordinated planning and better decision making can improve retirement security, retirement income planning is a very rewarding area within financial planning. Research has shown that better decisions can make a big difference in retirement income, and with a retirement income planning certification like the RICP®, you can help your clients do well by doing good.

What is Million Dollar Round Table (MDRT?

Founded in 1927, Million Dollar Round Table (MDRT), The Premier Association of Financial Professionals®, is a global, independent association of more than 72,000 of the world's leading life insurance and financial services professionals from more than 500 companies in 70 nations and territories. MDRT members demonstrate exceptional professional knowledge, strict ethical conduct and outstanding client service. MDRT membership is recognized internationally as the standard of excellence in the life insurance and financial services business.