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Financial Designations: Are some better than others?. Todd L. Jones, CFP ® , AIF ® , ARPS Vice President, Financial Advisor CapTrust Financial Advisors 8816 Six Forks Road, Suite 301 Raleigh, NC  27615-2983 919-870-6822 phone todd.jones@captrustadvisors.com www.captrustadvisors.com

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Financial Designations: Are some better than others?

Todd L. Jones, CFP®, AIF®, ARPSVice President, Financial Advisor

CapTrust Financial Advisors8816 Six Forks Road, Suite 301Raleigh, NC  27615-2983919-870-6822 phone todd.jones@captrustadvisors.com

www.captrustadvisors.com

www.captrustdirect.com

CapFinancial Partners, LLC. Member NASD/SIPC

why pursue industry designations
Why Pursue Industry Designations?
  • College: A fountain of knowledge where students gather to drink
  • Adult Education: A strenuous effort to learn about things that bored you when you were still young enough to profit from them.
  • Expert: One who knows more and more about less and less.
  • Wisdom: Knowing when to speak your mind and when to mind your speech.
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CIMA

CFS

qka

cpc

qpa

mspa

fspa

the alphabet soup of financial certifications
The Alphabet Soup Of Financial Certifications
  • AAMS ACCREDITED ASSET MANAGEMENT SPECIALIST
  • AIF® ACCREDITED INVESTMENT FIDUCIARY
  • AIFA® ACCREDITED INVESTMENT FIDUCIARY AUDITOR
  • ARPC ACCREDITED RETIRMENT PLAN CONSULTANT
  • ARPS ACREDITED RETIRMENT PLAN SPECIALIST
  • AWMA ACCREDITED WEALTH MANAGEMENT ADVISOR
  • BCAA BOARD CERTIFIED IN ASSET ALLOCATION
  • BCS BOARD CERTIFIED IN SECURITIES
  • CAIA CHARTERED ALTERNATIVE INVESTMENT ANALYST
  • CAP CHARTERED ADVISOR IN PHILANTHROPY
  • CAS CERTIFIED ANNUITY SPECIALIST
  • CASL CHARTERED ADVISOR FOR SENIOR LIVING
  • CEBS CERTIFIED EMPLOYEE BENEFITS SPECIALIST
  • CEPP CHARTERED ESTATE PLANNING PRACTITIONER
  • CFA®CHARTERED FINANCIAL ANALYST
  • CFP®CERTIFIED FINANCIAL PLANNERTM
  • CFS CERTIFIED FUND SPECIALIST
  • ChFC CHARTERED FINANCIAL CONSULTANT
  • CHFS CERTIFIED HEDGE FUND SPECIALIST
  • CIC CHARTERED INVESTMENT COUNSELOR
  • CIMA CERTIFIED INVESTMENT MANAGEMENT ANALYST
  • CLU CHARTERED LIFE UNDERWRITER
  • CMA CERTIFIED MANAGEMENT ACCOUNTMENT
  • CMT CHARTERED MARKET TECHNICIAN
  • CMFC CHARTERED MUTUAL FUND COUNSELOR
  • CPA CERTIFIED PUBLIC ACCOUNT
  • CPC CERTIFIED PENSION CONSULTANT
  • CRPC CHARTERED RETIREMENT PLANNING COUNSELOR
  • CRPS CHARTERED RETIREMENT PLAN SPECIALIST
  • CSC CERTIFIED SENIOR CONSULTANT
  • CWS CERTIFIED WEALTH STRATEGIST
  • EA ENROLLED AGENT
  • FSPA FELLOW OF THE AMERICAN SOCIETY OF PENSION ACTUARIES
  • FSS FINANCIAL SERVICES SPECIALIST
  • JD JURIS DOCTOR
  • LUTCF LIFE UNDERWRITER TRAINING COUNCEL FELLOW
  • MSFS MASTER OF SCIENCE IN FINANCIAL SERVICE
  • PFS PERSONAL FINANCIAL SPECIALIST
  • PRP® PLANSPONSOR RETIREMENT PROFESSIONAL
  • QKA QUALIFIED 401(k) ADMINISTRATOR
  • QPA QUALIFIED PENSION ADMINISTRATOR
  • QPC QUALIFIED PENSION CONSULTANT
  • RIA REGISTERED INVESTMENT ADVISOR
  • RR REGISTERED REPRESENTATIVE
  • RFC REGISTERED FINANCIAL CONSULTANT
  • RHU REGISTERED HEALTH UNDERWRITER

Can the Public tell the Difference?

governance can the public tell the difference
Governance: Can the Public Tell the Difference?

Suitability Standard

  • Stockbrokers have passed an exam given by the NASD. This is not a government organization. The primary exam (series 7) tests basic knowledge about stocks, mutual funds, bonds, financial markets and regulations. It does not prepare an individual to actually handle finances or provide recommendations and tests only their technical understanding of the areas mentioned.
  • Registered Investment Advisors are licensed either by their State or by the SEC. Rather than charging commissions, these advisors charge fees for their time or for money management services. In most cases, they are still required to pass the series 7 exam and file detailed information about their background (form ADV).

Fiduciary Standard

the importance of a fiduciary standard of care
The Importance of a Fiduciary Standard of Care

The knowledge and application of a fiduciary standard of care by an experienced consultant can assist plan sponsors with making prudent decisions while protecting plan participants in the process.

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Choose Designations That Help You Help Clients

  • Accredited Investment Fiduciary (AIF): Procedural & Fiduciary Expertise & exposure
  • Accredited Retirement Plan Specialist (ARPS): Plan Design & Technical Administration Expertise
  • Certified Financial Planner (CFP): Comprehensive Financial Knowledge & Credibility
  • Certified Investment Management Analyst (CIMA): Investment Manager Analysis
  • Certified Financial Analyst (CFA): Securities Analysis/Valuation & Credibility
  • PlanSponsor Retirement Professional (PRP): Industry Trends , Technical Expertise, & exposure

CIMA

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Certified Financial Planners Standards Board's CFP Course

An 18-month program entailing 5-7 college courses and a 10-hour, 2-day examination providing best in class training for advising a wide variety of clients on several matters within the field of financial planning.

The CFP Designation is perhaps the best known designation by the general public. It provides proof of mastery in topics including Investments, Income Taxation, Retirement Planning, Insurance, and Estate Planning.

There are over 45,000 active Certified Financial Planner practitioners. The CFP code of ethics heralds the principles of Integrity, Objectivity, Competence, Fairness, Confidentiality, Professionalism, and Diligence.

www.CFP-Board.org

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SPARK Training Courses

SPARK was founded in 1989 as an inter-industry trade association of investment managers and service providers, particularly in the defined contribution plan market.

It is one of the first organizations to bring together members of the five major provider groups - banks, insurance companies, mutual fund managers, third party administrators and benefit consultants.

Training is In-Class. Focus is on detailed aspects of plan design and general administration.

http://www.rgwuelfing.com

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PlanSponosr Institute Designation

Training is provided in-class in New York.

A PRP designee gains access to:

A designee listing on PLANSPONSOR.com and in PLANSPONSOR magazine along with the name of the sponsoring organization, if applicable;

Free access to PLANSPONSOR's "Plugged In" series of Web-based presentations on current topics and regulatory developments;

Free subscriptions to PLANSPONSOR's NewsDash and AdvisorDash online news services;

Free PLANSPONSOR magazine subscription for designee and selected plan clients of the designee;

Automatic nomination for PLANSPONSOR's annual Retirement Plan Advisor of the Year award; and

Free access to semiannual Web-based seminars on best practices for advisors.

www.plansponsorinstitute.com

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The Investment Management Consultant's Association's CIMA Course

The Certified investment Management Analyst (CIMA) program focuses on asset allocation, manager search and selection, investment policy and performance measurement. The program begins with a self-study Level 1 program with an exam. The Level 2 material and exam can be completed at a one week class held at a leading business school or completed in the newly developed on-line format.

A one-week course at Wharton School of Business at the University of Pennsylvania, which provides basic knowledge of the language, tools and processes of investment management consulting with emphasis on investment manager evaluation and portfolio construction.

www.imca.org

CIMA®
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CFA Institute’s Chartered Financial Analyst (CFA) Course

A three-year, self-study course that requires one to pass three difficult levels of examinations given in June of each year. (CFA Level I is now offered in December as well.)

Each CFA examination is six hours. The CFA is the definitive certification for financial analysis and for those who are interested in finance with broad-based application in investment management, research and advisory services.

There are 39,000 CFAs and 74,000 candidates enrolled in the CFA program.

www.cfainstitute.org

CFA®
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ASPPA credentials are available to four groups of professionals: associated professionals, administrators, consultants and actuaries.

The Qualified 401(k) Administrator (QKA) credential is offered for retirement plan professionals who work primarily with 401(k) plans.

The Qualified Pension Administrator (QPA) credential was created by ASPPA to recognize professionals who are qualified to perform the technical and administrative functions of qualified plan administration.

The Certified Pension Consultant (CPC) credential is conferred by ASPPA to benefits professionals working in plan administration, pension actuarial , administration, insurance, and financial planning.

www.asppa.org

QKA, QPA, CPC

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The CEBS Program

The CEBS Program offers the opportunity to earn designations in three distinct areas of specialization. The Group Benefits Associate (GBA), Retirement Plans Associate (RPA) and the Compensation Management Specialist (CMS) form the core of the CEBS curriculum.

The CEBS designation, which now carries an eight-course requirement. In addition, the CEBS program accepts for exam credit, work completed in a select number of other approved professional programs.

Provides instant credibility among Human Resources personnel, and potential access to centers of influence within the field of HR.

www.ifebp.org

chfc rebc clu
The Chartered Financial Consultant, Registered Employee Benefits Consultant, and Chartered Life Underwriter programs focus on comprehensive financial planning, employee benefits and insurance strategies.

The ChFC designation requires eight courses. Students also must meet specified experience requirements and agree to comply with both The American College's Code of Ethics and applicable continuing education requirements.

Self-Study or In-Class through The American College in Bryn Mawr, Pennsylvania. Exams are offered at ProMetric Exam Centers across the country.

http://www.theamericancollege.edu

ChFC®, REBC ®, CLU ®
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The CFS program is one of the first Mutual Fund Certifications in the country. It is a 60-hour self-study program offered by the Institute of Business and Finance. The final exam is given at Prometric Centers which are located throughout the country. The exam is administered by the NASD. Students must also complete an open-book case study. The CFS program is fully accredited and counts as four units toward the MSFS graduate degree.

Studies, research reports, industry trends, new ideas and products, sales presentations, and marketing tips are just some of the ongoing benefits the CFS can access.

www.icfs.com

CFS®

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The Chartered Alternative Investment Analyst Association® was founded in 2002 and is the sponsoring body for the CAIA designation. The designation certifies one’s mastery of the concepts, tools and practices essential for understanding alternative investments and promotes adherence to high standards of professional conduct.

The CAIA curriculum is designed to provide finance professionals with a broad base of knowledge in traditional and modern alternative investment vehicles, including real estate, private equity and commodities, as well as hedge funds and managed futures.

The CAIA program has two levels. Level I focuses on the fundamentals of both the traditional and alternative investment markets, while Level II concentrates on advanced topics in alternatives. Both incorporate issues of ethics and professional conduct.

www.caia.org

CAIASM

the favorite designation of prospects clients
The Favorite Designationof Prospects & Clients
  • WIIFM
  • (What’s In It For Me?)
  • Credentials count, but with several designations and a vast amount of technical knowledge, an inexperienced consultant can easily lose sight of the most important part of their job. In order to utilize your expertise to help a client, you must first get hired & stay hired.
  • The more you know, the less you should have to say.
  • Always focus on your client & listen to their needs.
  • Be able to show clients “what’s in it” for them.
closing story
Closing Story

While the newest group of brokers were busily calling potential customers to drum up business, the president of the firm stopped to eavesdrop on one of them. He listened as the young man talked eight consecutive contacts into moving their stock portfolios to him.The boss approached the young man and said, "I've been listening in, and I must say I'm impressed with your ability. Where did you learn so much about talking to investors?""Yale, sir," the young man answered.Impressed, the boss said, "Oh, that's fine, just fine.

And what's your name?"

"Yackson," he replied.