SBC will seek as advisory registered persons individuals with post graduate degree(s) in business or related economic emphasis, or equivalent business related experience. SBC encourages its associates to further coursework demonstrating knowledge of financial planning, economics, and tax planning. Examples of acceptable coursework include: an MBA, a CFP®, a CFA®, a ChFC®. Additionally, advisors must have work experience that demonstrates their aptitude for financial planning and investment management.
Professional Certifications – Associates have earned certifications and credentials that are required to be explained in further detail.
A financial planning designation awarded by The American College of Bryn Mawr. ChFC’s must meet experience requirements and ethics standards, and pass exams covering finance and investing. They must have at least three years of full-time business experience, and have studied and passed an examination on the fundamentals of financial planning, including income tax, insurance, investment and estate planning.
All ChFC®s who registered after June 30, 1989, are subject to the PACE (Professional Achievement in Continuing Education) Recertification Program. If one is a ChFC® who falls into any of the following specified categories, he/she is required to earn 30 hours of CE credit every two years:
If one is a ChFC® subject to PACE but do not fall into one of the above categories, he/she is exempt from the CE requirements. He/she will be required to notify The College of your exempt status every reporting period, as long as the exemption applies.
“CFA charterholders” are those individuals who have earned the right to use the CFA Designation granted by CFA Institute. These people have satisfied certain requirements, including completion of the CFA Program and required years of acceptable work experience. Once granted the right to use the designation, individuals must also satisfy the CFA Institute membership requirements to maintain their right to use the designation.
The CFA Institute grants the ability to CFA charterholders to use the CFA mark.
CFA certification requirements:
Individuals who hold the AWMA® designation have completed a course of study through the College for Financial Planning encompassing wealth strategies, equity-based compensation plans, tax reduction alternatives, and asset protection alternatives. The program is designed for approximately 120-150 hours of self-study. The program is self-paced and must be completed within one year from enrollment.
After successful completion of the end-of-course examination, individuals apply for authorization to use the designation. The application includes:
Following initial conferment of one of the Accredited Wealth Management Advisor professional designations, authorization for continued use of the credential must be renewed every two years by completing 16 hours of continuing education (40 hours of CE for MPAS®); reaffirming compliance with the Standards of Professional Conduct, Terms and Conditions; and complying with self-disclosure requirements.
The College monitors its designees’ compliance with the designation requirements and standards. Any alleged violations are subject to disciplinary procedures.
CERTIFIED FINANCIAL PLANNER™ (CFP®): The CERTIFIED FINANCIAL PLANNER™, CFP® and federally registered CFP (with flame design) marks are professional certification marks granted in the United States by the Certified Financial Planner Board of Standards, Inc. The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold a CFP™ certification.
To attain the right to use the CFP™ marks, an individual must satisfactorily fulfill the following requirements:
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:
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 CIMA certification signifies that an individual has met initial and ongoing experience, ethical, education, and examination requirements for investment management consulting, including advanced investment management theory and application. To earn CIMA certification, candidates must: submit an application, pass a background check and have an acceptable regulatory history; complete an in-person or online executive education program through a Registered Education Provider; pass an online Certification Examination; Pass a second background check; and have three years of financial services experience at the time of certification.
CIMA certificants must adhere to Investments & Wealth Institute’s Code of Professional Responsibility, and Rules and Guidelines for Use of the Marks. CIMA designees must report 40 hours of continuing education credits, including two ethics hours, every two years to maintain the certification.
The Financial Paraplanner Qualified Professional℠ (FPQP®) offered by the College for Financial Planning (CFFP®) covers the 5 disciplines of financial planning: insurance, investments, retirements, tax, and estate. The course takes 80-120 hours of self-study, and students must complete the course in one year. The CFFP requires 16 hours of continuing education every two years, and credential holders must follow standards of professional conduct and comply with self-disclosure requirements.
