The American College has responded to state and federal officials’ criticism of some credentials for financial professionals by publishing a “Designation Toolkit.”
“We’ve seen some otherwise reputable firms suddenly disallow use of any credential with the word ‘senior’ or ‘retirement’ in the title,” Laurence Barton, president of the Bryn Mawr, Pa., financial services college, says in a statement.
“By looking for an easy answer that avoids any due diligence, these firms are doing a disservice not only to their advisors, but to the clients they serve,” Barton says.
The American College itself has been campaigning against designation programs that provide designations after students pay a fee and spend just a few days studying in a hotel, Barton says.
But the Chartered Advisor for Senior Living designation and other designations, such as the Chartered Life Underwriter designation, represent high-quality professional education, Barton says.
The Designation Toolkit provides guidelines for how to use designations.
The toolkit is available