One of the most respected sources for advisor education just rolled out a new designation that will help navigate the muddy waters of retirement income planning.

The American College, a flagship institution for the financial services industry, is offering the Retirement Income Certified Professional (RICP) designation, a three-course credential that will cost roughly $1,300. The first program graduates are expected to earn the designation by March 2013.

According to The American College, the program is designed for advanced financial professionals. The organization says it's recommended for those who focus on retirement income planning in their practices as well as those who have obtained other designations such as ChFC®, CPA®, CFA®, CFP® certification or CLU®. 

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