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FSP Members Think About Designation Accreditation

By Staff Writer

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Members of the Society of Financial Service Professionals seem to like the idea of professional credentials having credentials of their own.

The FSP, Newtown Square, Pa., a group for financial professionals who hold designations such as the Chartered Life Underwriter designation and the Chartered Financial Consultant designation, has published figures supporting that conclusion in a summary of results from an informal e-mail survey of 15,735 FSP members.

About 94% of the 1,250 members who responded said all financial designations should go through an accreditation process, and 61% said they are willing to submit their designations to regulation by an “outside body” to preserve the value of their designations, according to the FSP.

When asked what body should regulate credentials, 41% chose the Financial Industry Regulatory Authority, Washington; 32% the Accrediting Council for Continuing Education and Training, Washington; and 27% the National Association of Insurance Commissioners, Kansas City, Mo.