August 19, 2009

Increased education requirement for ChFC designation

The American College, which provides the chartered financial consultant designation, is increasing the educational requirements needed to earn the designation. On Oct. 1, 2009, the college will require nine courses and nine separate exams instead of the current eight courses.

"Financial service professionals have only a limited time to enroll in the ChFC(R) program if they want to earn this prestigious credential utilizing the current eight-course format," said Jack Hondros, senior vice president of the sales and marketing division. "After October 1, individuals enrolling in the program will be required to complete an additional capstone case study course that incorporates complicated aspects of savings, estate planning, taxation and business planning."

The current curriculum is similar to that of the CFP certification, with two additional specialized electives. Maintaining the ChFC designation adherence to a strict code of ethics and requirements for continuing education, according to the college.

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