Is Your Settlement Adviser Keeping The PACE?

by John Darer CLU ChFC MSSC RSP CLTC

When it comes to professional designations by June 2017, I will finally "run out of road" on the first line of my business card and start paving line two.

The settlement planning space I operate in is at the intersection of multiple dynamic overlapping disciplines as part of a much larger dynamic financial services industry.  This necessitates not only an incredible foundation level of knowledge but the need to stay current.

Since its founding in 1927, The American College of Financial Services has been committed to serving the public through increasing the knowledge and professionalism of financial advisors. As one part of that commitment, every designee of The College, including yours truly, agrees to adhere to The American College Code of Ethics, which includes a professional pledge and eight canons that address ongoing education and ethical standards.

The American College states its belief that individuals who use its professional designations (such as CLU ChFC CASL, ChSNC) to represent their expertise to consumers have an obligation to the public to practice ethically and engage in ongoing professional education, something that is particularly important in today’s environment of complex products and regulations.

Professional re-certification serves as a way for designees of The College to maintain their designations through ethical oversight and continuing education (CE). Recently The American College launched an expanded Professional Recertification Program, which builds on the tradition of the long-standing Professional Achievement in Continuing Education (PACE) program. The expanded program has three main components:

• Annual reporting
• Continuing education
• A modest program fee

CLU stands for Chartered Life Underwriter

ChFC stands for Chartered Financial Consultant

ChSNC stands for Chartered Special Needs Consultant

CASL stands for Chartered Advisor in Senior Living