The following professional designations are among those used in the financial services industry:
AAMS, Accredited Asset Management Specialist, (a designation of the College for Financial Planning) is able to identify opportunities in the areas of investment, insurance, tax, retirement, and estate planning and make recommendations based on all aspects of a client's total financial picture.
CEBS, Certified Employee Benefit Specialist, a designation is cosponsored by the International Foundation of Employee Benefit Plans (IFEBP) and the Wharton School, University of Pennsylvania. The 10-course college level curriculum provides a comprehensive understanding of benefit concepts and principles.
CDFA, Certified Divorce Financial Analyst, a credential for financial professionals in the divorce arena. A candidate must successfully complete four exams based on the Certified Divorce Financial Analyst Self-Study course, be in good standing with his or her firm, broker/dealer and/or governmental regulation agencies, and complete 20 hours of continuing education courses every two years.
CFP, Certified Financial Planner, certificants are individuals who have met CFP Board's education, examination and experience requirements, have agreed to adhere to high standards of ethical conduct and who complete CFP Board's biennial certification requirements, including continuing education. A Certified Financial Planner can offer a variety of services including portfolio management, insurance advice, and tax and estate planning.
CFS, Certified Funds Specialist, indicates advisors who are qualified to consult with clients on the advisability and costs of acquiring or retaining mutual funds in their investment portfolio. Has completed six ten-hour educational modules provided by the Institute of Business and Finance on Investment Companies; Fixed-Rate & Variable Annuities; Wealth Management & Performance Measurement; The Planning Cycle; Strategies; and Asset Allocation.
ChFC, Chartered Financial Consultant, has completed a three-five year course with the American College in Pennsylvania. He or she can offer tax, estate, insurance and financial planning services as well as portfolio management and probably can advise on life insurance matters.
CFA, Chartered Financial Analyst (a designation of The Association for Investment Management and Research), comprises securities analysts, money managers and investment advisers who have completed the CFA program, a graduate-level, self-study curriculum and examination program for investment professionals that covers a broad range of investment topics. CFA charterholders are required to affirm their commitment to high ethical standards and voluntarily submit to the authority of CFA Institute.
CLU, Chartered Life Underwriter, is the professional credential for agents providing life insurance products and requires completing a ten-course curriculum, meeting specified experience requirements, maintaining ethical standards, and agreeing to comply with both The American College's Code of Ethics and Procedures and applicable continuing education requirements.
CMFC, Chartered Mutual Fund Counselor, has completed a self-study program and final examination on different mutual fund topics and provides mutual fund advice to clients.
CPA, Certified Public Accountant, usually is required to have a college degree in Accounting and has passed a national uniform examination and met other certifying requirements; CPA certificates are issued and monitored by state boards of accountancy or similar agencies. The CPA can offer financial services but tends to specialize in tax issues.
CRFA, Certified Retirement Financial Advisor, has at least 2 years or comparable experience as fundamental knowledge of insurance, investments and taxes and completes a four-day program focused solely on the financial issues of retirees.
CRPC, Chartered Retirement Planning Counselor, has completed a specialized independent study course of the College for Financial Planning, consisting of 11 modules that provide a general foundation for giving comprehensive retirement planning advice to clients. The designation is awarded after successfully completing the 11 modules, passing a proctored final examination, and signing a code of ethics commitment and declaration form.
CRPS, Chartered Retirement Plans Specialist, (a designation of the College for Financial Planning)indicates a professional who designs, installs, and administers retirement plans for the business community.
RFA, Registered Financial Associate, has completed an undergraduate curriculum in financial planning and counseling from an accredited institution. The RFA must meet requirements of ethics and a significant annual continuing education of 40 hours yearly. After four years, an RFA may apply for conversion to RFC. This is a new designation with about 100 designees.
RFC, Registered Financial Consultant, has a professional financial planning designation or has passed a comprehensive RFC examination. Meets requirements of experience, education, examination, ethics, licenses, business conduct and maintain significant annual continuing education of 40 hours yearly. More than 1,600 have received this designation from the International Association of Registered Financial Consultants.
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