This is required every two years. Becoming a CFP takes a lot of hard work and commitment. But there are a lot of benefits to those who pursue this designation. First of all, it gives you the ability to help your clients meet their financial goals. It also provides you with a boost in your income—becoming certified can give you the potential for a higher salary.
The CLU is widely considered to be the most respected insurance designation in the industry. The CLU has traditionally been pursued by agents who wish to specialize in life insurance for business or estate-planning purposes. The current course curriculum for the CLU includes five required courses. They include the following:. In addition to the five required courses, individuals must also enroll in three elective courses.
These can be chosen from such subjects as the following:. Students are able to do coursework in class or online for select courses.
One of the main benefits of this course of study is that you're allowed to complete coursework at your own pace. Students are given four months after registering in which to schedule their final exam. This designation is also available through the American College. This designation has the same core curriculum as the CFP designation, plus two or three additional elective courses that focus on various areas of personal financial planning.
But the biggest difference is that it does not require candidates to pass a comprehensive board exam, as with the CFP. Due to the number of courses that overlap both the ChFC and CFP, the ChFC and CLU marks are often taken by individuals seeking in-depth knowledge of both financial planning and insurance, but who wish to avoid a lengthy board exam. Some of the areas the program outlines are:.
There really is no right answer to this question. The answer lies in your preferred area of focus. You'll see some developments along those lines later this year to complement our print materials. As for the audiobooks, bjwestner, we regularly survey students regarding their learning preferences. Much to our surprise, frankly, our surveys did not reveal any great interest in audiobooks. But that's something we'll continue to keep an eye on. I too feel very attached to some of my textbooks and wouldn't dream of giving them up.
They are good reference materials. Maybe if you order the print text you can get a digital copy too. Much easier for me to hold my Kindle and read on the subway than a large textbook. I love that The Institutes are looking into other methods of delivering the material.
I am scheduled to take the exam on April Congratulations on your passing too. Just got my grades this morning and got a b on it. I wanted to take the test a few weeks ago but could not due to no tests being offered from March 15 - April So I was delayed by a few weeks but finally got it done. The test itself was easy though. I was a bit worried going into the test as the SMART pre-test questions were actually harder than the questions on the test.
I've been averaging taking 1 test every 5 weeks or so and only have 4 tests left so I should be done in the next 5 months or so. I start by reading the whole book. I try to get through the book in 10 days to 2 weeks. I then re-read the book and this time highlight with a highlighter the information that I believe is important.
I'm usually done re-reading the book after about 3 weeks. At that time I schedule the test for 2 weeks out. At least, as long as the College gets back to focusing on providing advanced specialization educational programs for advisors who have met a minimum educational standard like the CFP certification, and stops throwing monopoly rocks from the confines of its own glass house that embarrass both the organization and those who were [once] proud to hold the designations it grants.
In the meantime, I know I still hope for a world where consumers can finally have a clear understanding of who really has at least the appropriate minimum education, training, and experience to actually be an advisor, with a clear standard like the CFP certification as a guidepost.
General Inquiries: Questions Kitces. Members Assistance: Members Kitces. This browser is no longer supported by Microsoft and may have performance, security, or missing functionality issues. For the best experience using Kitces. Practice management advice and tools relevant for your business. Join 44, fellow financial advicers getting our latest research as it's released, and receive a free copy of The Kitces Report on "Quantifying the Value of Financial Planning Advice"!
Member Login Search Close Search. Life insurance is a vital part of holistic financial planning for both individuals and small businesses. The benefits of a sound estate plan can be applied to clients of any net worth. Download our guide to learn key strategies for success. All other courses follow our traditional self-study model with robust course materials and interactive elements, including:. Enroll now for instant access to your digital textbook, syllabus and other learning resources.
Whether you prefer self-paced or structured, your tuition is the same. HS Fundamentals of Insurance Planning: This course focuses on the role of planning for risk management needs. The topics covered include:. HS Individual Life Insurance: Focuses on life insurance policies and annuities available for the personal needs of individuals and their use in financial planning.
Covers individual insurance products, insurance reserves regulation, and the organization, operations, and investments of insurance companies.
HS Life Insurance Law: Examines legal rights and obligations of the policy owner and the insurance company, the way disputes between the insured and insurers are resolved and general principles of the judicial process. Covers legal aspects of life insurance, including basic principles of contract law; policy provisions and the incontestable clause; assignments, ownership rights and creditor rights; beneficiary designations and disposition of proceeds; the law of agency; and advertising and privacy issues.
HS Fundamentals of Estate Planning: This course provides a basic understanding of the estate and gift tax system, including strategies of estate planning. Covers various aspects of estate and gift tax planning, including:. HS Planning for Business Owners and Professionals: Focuses on tax and legal aspects of organizing a business; compensation planning for the business owner; business succession planning; buy-sell agreements; estate planning and estate freezing techniques; methods for transferring a family business; lifetime disposition of a business interest.
Elective courses choose three HS Financial Planning: Process and Environment: This course provides an overview of the financial planning process, including the role and responsibilities of a financial planner along with analytical tools to aid in financial decision-making.
Topics include:. HS Income Taxation: The course examines the federal income tax system with particular reference to the taxation of individuals. Concepts covered include:. HS Planning for Retirement Needs: This course focuses on selecting the right retirement plan for the business and on individual retirement planning.
HS Investments: This course covers various aspects of the principles of investments and their application to financial planning.
0コメント