Francois Gadenne has graciously agreed to cover for me until my return on May 16. He will be contributing a variety of essays addressing contemporary and future retirement income opportunities and challenges.
Education is one of RIIA’s most important missions. The Education Committee, chaired by Ron DeCicco (RBC) and supported by John Carl (RLC) as a service provider, directs the training, certification and designation activities. Our educational focus is the Financial Advisors (FAs). Tomorrow’s post will describe the various types of professionals generally described as FAs. Our goal is to help all types of FAs solve their clients’ income planning concerns in retirement.
Starting as soon as RIIA’s official foundation, the Education Committee developed a training program as the kernel of an annual designation program and the first step of RIIA’s Retirement Income Expert designation. Some members also license the training and certification material for their internal training programs.
Our training, certification, and designation programs are organized by levels. There are four levels. Level I was taught in public classes starting in the Fall of 2006. Verbal and written reviews have been enthusiastic. Deeds have been even more impressive as some students joined the Committee to participate in the creation of the next levels. Levels II, III, IV are under development and will be rolled out later in 2007.
The “View Across the Silos” gives RIIA a unique opportunity to combine the latest academic research with practical techniques that span the many silos of the financial industry. In addition, our academic Special Advisors to the Board come from universities across the nation. Levels and Sections are built with input from a broad range of the best academic and industry specialists.
By the conclusion of RIIA’s certification and designation program, financial advisors will
- understand their clients’ retirement needs and concerns, their goals and aspirations
- be aware of the many products, tools and services available as well as the regulations, rules, and laws that apply
- know how to structure retirement income strategies based on individual client situations
- understand the requirements of a financial planning practice focused on clients with retirement income needs
Each level includes formal teaching material, case studies and tests on the following topics:
- Level 1: Delivering Retirement Income Solutions
- Level 2: Planning Considerations (e.g. income, health, tax, estate)
- Level 3: Repositioning and Converting Assets into Income for Retirees
- Level 4: Practice Management
RIIA monitors certifications on an annual basis. Issued certificates identify both the Level and the Year the level was taken in order to maximize incentives for and the value of continued education and professional development.
If you have an interest in the Education Committee’s work, please contact Ron DeCicco or John Carl directly. You can find their phone and e-mail address at www.riia-usa.org.