Professional Certifications at Reby Advisors
We always strive to improve our team. The financial planners and client service team have obtained many professional certifications with the goal of exceeding client expectations and improving lives.
Here are the minimum required qualifications for many of our certifications:
- CERTIFIED FINANCIAL PLANNER™ (CFP®)
- Chartered Special Needs Consultant (ChSNC™)
- Certification in Long-Term Care (CLTC)
- Chartered Retirement Planning Counselor (CHRPC®)
- Certified Divorce Financial Analyst (CDFA®)
- Accredited Portfolio Management AdvisorSM (APMA®)
The CERTIFIED FINANCIAL PLANNER™, CFP® and federally registered CFP (with flame design) marks (collectively, the “CFP® marks”) are professional certification marks granted in the United States by Certified Financial Planner Board of Standards, Inc. (“CFP Board”).
The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP® certification. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with Clients. Currently, more than 85,000 individuals have obtained CFP® certification in the United States.
To attain the right to use the CFP® marks, an individual must satisfactorily fulfill the following requirements:
- Education – Complete an advanced college-level course of study addressing the financial planning subject areas that CFP Board’s studies have determined as necessary for the competent and professional delivery of financial planning services, or attain a bachelor’s degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning;
- Examination – Pass the comprehensive CFP® Certification Examination. The examination, administered in 10 hours over a two-day period, includes case studies and Client scenarios designed to test one’s ability to correctly diagnose financial planning issues and apply one’s knowledge of financial planning to real world circumstances;
- Experience – Complete at least three years of full-time financial planning- related experience (or the equivalent, measured as 2,000 hours per year); and
- Ethics – Agree to be bound by CFP Board’s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP® professionals.
Individuals who become certified must complete the following ongoing education and ethics requirements in order to maintain the right to continue to use the CFP® marks:
- Continuing Education – Complete 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the Standards of Professional Conduct, to maintain competence and keep up with developments in the financial planning field; and
- Ethics – Renew an agreement to be bound by the Standards of Professional Conduct.
The Standards prominently require that CFP® professionals provide financial planning services at a fiduciary standard of care. This means CFP® professionals must provide financial planning services in the best interests of their Clients.
CFP® professionals who fail to comply with the above standards and requirements may be subject to CFP Board’s enforcement process, which could result in suspension or permanent revocation of their CFP® certification.
The requirements to complete the Chartered Special Needs Consultant® (ChSNC®) are:
- Successful completion of the courses numbered Introduction to Disability and Lifetime Planning (HS 375), Legal and Financial Issues for Special Needs Families (HS 376), and Financial Planning for Caring for Those with Special Needs (HS 377).
- An application for designation approved by the Registrar of The American College of Financial Services.
Any student may enroll in Huebner School courses, however usage of the designation and its mark, ChSNC®, are limited to those who have successfully completed the coursework and met the prerequisite standards established by the faculty. At a minimum, any individual must present an application that clearly identifies:
(a) At least five years of professional experience in financial services or the practice of law, or
(b) Four years of professional financial services experience and an undergraduate degree.
Individuals who hold the CLU® or ChFC® designations, the CFP®, MSFS, and/or who have met the sufficient experience requirements are eligible to use the designation after completion of the ChSNC® coursework. The aforementioned experience requirements may be reduced or waived depending upon academic background and a petition to The College requesting such a waiver.
ChSNC® designees must also adhere to The American College of Financial Services Code of Ethics and comply with The College’s Professional Recertification Program.
According to ltc-cltc.com:
"A professional with a CLTC designation has acquired the critical tools necessary to discuss the subject of longevity and its acute consequences on a client's family – financially, physically and emotionally – years down the road. The best way to protect families from the potential devastation of long-term care is not to sell a product, but rather, offer advice that leads to a plan to mitigate those consequences.
The CLTC designation has been recognized and supported by The American College, NAIFA and major insurance carriers.
To view The CLTC Code of Professional Responsibility, click here.
Maintaining the CLTC designation requires all designees to meet an ongoing continuing education requirement every two years. Designees must either 1.) Complete our CLTC renewal course or 2.) Submit proof of completion of the state-mandated Long-Term Care training. The CLTC renewal course is updated to include the most current information in the long-term care industry and is an excellent refresher for designees. Along with the renewal course, all designees are required to pay an annual renewal fee.
Continuing Education credits vary by state."
The College for Financial Planning states:
"Individuals who hold the CRPC® designation have completed a course of study encompassing pre-and post-retirement needs, asset management, estate planning and the entire retirement planning process using models and techniques from real client situations. Additionally, individuals must pass an end-of-course examination that tests their ability to synthesize complex concepts and apply theoretical concepts to real-life situations.
All CRPC® designation holders are responsible for completing 16 hours of Continuing Education credits every two years."
The Institute for Divorce Financial Analysts requires candidates to "pass the CDFA® Examination with a 72% or higher to receive the CDFA® designation."
"CDFA® candidates will study a broad range of topics regarding the financial aspects of divorce including:
• Overview of divorce laws and procedures;
• Marital vs. separate property;
• Pensions and retirement plans;
• Options for the marital home;
• Fundamentals of child and spousal support;
• Tax issues related to selling or transferring property;
• Debt, credit, and bankruptcy"
Moreoever, "to assure continuing competency in tax codes, legislative and other ongoing developments in the field of divorce financial planning, [CDFA® designees] must report 15 hours of divorce-related continuing education every two years.
The College for Financial Planning states:
"The Accredited Portfolio Management AdvisorSM, or APMA® program, is a professional designation program for financial professionals. The program is designed to educate advisors on the finer points of portfolio creation, augmentation, and maintenance.
APMA® Course Topics:
APMA® Module 1: Investment Risk and Return Analysis
APMA® Module 2: Modern Portfolio Theory and Performance Evaluation of Equities
APMA® Module 3: Debt and Fixed-Income Features
APMA® Module 4: Debt and Fixed-Income Valuation and Analysis
APMA® Module 5: Mutual Funds and Other Pooled Investments
APMA® Module 6: Investing in Real Assets
APMA® Module 7: Derivatives and Structured Products
APMA® Module 8: Taxation of Investments and the Regulatory Environment
APMA® Module 9: Ethical Considerations, Investment Strategies, and Retirement Needs Analysis
APMA® Module 10: Behavioral Finance, Client Suitability, and Constructing Portfolios
All APMA® designation holders are responsible for completing 16 hours of Continuing Education credits every two years."