Retirement income planners looking for a new and high-profile way of demonstrating their credentials to potential clients have a new option, courtesy of The American College.
The Retirement Income Certified Professional (RICP) designation, offered by The American College, was created with input from the Insured Retirement Institute, which has officially endorsed the new designation.
Three courses are required to complete the RICP, beginning with the first, "Retirement Income Process, Strategies and Solutions," which is already available - with a curriculum including online video lectures, interview with retirement income experts and a study guide.
Future courses will include "Sources of Retirement Income" and "Managing the Retirement Income Plan," both of which will be unveiled in the next six months.
“Top industry practitioners have told us they need more information about retirement income strategies in order to better serve their clients,” said Larry Barton, Ph.D., CAP, President and CEO of The American College.
“As the nation’s leading educator of financial services professionals, 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 focused on creating sustainable, lifelong income."
IRI members who register for the course through the organization will not have to pay a new-student fee, as an incentive for participation.
“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 build up strategies to asset drawdown strategies,” said Cathy Weatherford, IRI president and CEO. “To meet the needs of this vast demographic group, advisors will need the best information available on the most effective drawdown strategies."
The American College's other credential-level programs and educational offerings in the financial services space include CLU, ChFC, CASL, CLF, CAP, REBC and RHU.