To help advisors learn more about how to assist clients as they plan for retirement, the American College of Financial Services has developed a new designation, called the Retirement Income Certified Professional, or RICP.
The American College’s RICP designation has the endorsement of the not-for-profit Insured Retirement Institute (IRI), whose members provided input during the new designation’s development.
“Top industry practitioners have told us they need more information about retirement income strategies in order to better serve their clients,” said Larry Barton, president and CEO of the American College, in a statement. “We felt it was our responsibility to address this need and develop, with the help of our expert faculty and prominent industry thought leaders, an in-depth and innovative program.”
The program, which costs $1,349 for three courses leading up to the advanced designation, focuses on creating sustainable, lifelong income in retirement. (As a special educational offering for IRI members, the new-student fee will be waived for members registering for the course through IRI.)
The required courses include:
- Retirement Income Process Strategies and Solutions
- Sources of Retirement Income
- Managing the Retirement Income Plan
The first course is already available and the remaining two will be rolled out over the next six months.
IRI President and CEO Cathy Weatherford said the new RICP designation comes as advisors seek the best information available on effective strategies to assist the vast demographic of retiring boomers.
“As the 79 million baby boomers continue to retire in greater and greater numbers and begin to tap into their retirement income resources, the financial planning focus will pivot from asset buildup strategies to asset drawdown strategies,” Weatherford said in a statement.
Read about AdvisorOne’s Retirement Income Symposium on Oct. 4 and 5 in Boston.