Retirement planning involves many moving parts, so many individuals enlist the advice of financial professionals who have earned professional designations to demonstrate their expertise. Such designations give clients confidence that they have someone on their team who understands the complexities associated with income planning, investment strategies, and regulatory compliance that will provide assistance when needed.
RICP stands out among retirement plan designations as being among the most renowned. Financial professionals looking to specialize in retirement planning often opt for this certification, which offers techniques and best practices that enable pre-retirees and retirees alike to plan sustainable streams of retirement income, maximize Social Security benefits, minimize risks in investments, create estate plans and more. Completion of three courses requires 150 hours of study plus meeting experience, education and ethics requirements.
Attaining this designation indicates you’ve completed the necessary specialized training and education needed to become an expert in retirement planning. Offered by the National Association of Certified Financial Planners, earning this professional credential requires completing educational modules and passing an exam that includes case studies as well as adhering to an ethical code of conduct as well as reporting continuing education activities.
Certified individuals in business retirement plans and their administration, such as 401(k), SEP, SIMPLE and traditional IRAs as well as defined benefit, profit sharing and non-profit employer sponsored plans are experts at all nuances involved in designing, installing and administering them successfully – including design considerations such as tax complexities and fiduciary duties. This curriculum encompasses courses on all aspects of these services as well as tax complexities and fiduciary obligations pertaining to these retirement plans.
This retirement plan designation, offered by the College for Financial Planning since 2012, addresses the specific needs of individuals approaching and entering retirement. Its curriculum contains 18 competencies spread out over three courses that focus on topics like Social Security benefits, planning for risk in retirement income planning regulations and more.
With your Certified Retirement Plan Professional credential in hand, you can confidently inform clients about complex retirement plan options while easily passing Department of Labor and IRS audits. Furthermore, businesses, nonprofits and government organizations will recognize you as qualified to administer wholesale retirement plans for employees and management alike.