What is a RIA?
Under the Investment Advisers Act of 1940, as amended, a Registered Investment Advisor is "any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities, or who, for compensation and as part of a regular business, issues or promulgates analysis or reports concerning securities..."
A Registered Investment Advisor:
- May do personal financial planning, manage portfolios or both under their license as a fiduciary
- Registers either with their state or the SEC by filing Form ADV and meeting other requirements
- Evaluates client's needs and risk tolerance, and advises on appropriate investments
- Monitors client's portfolio. Regular performance reports may be provided
- May provide other wealth management services, such as retirement, trust, tax, charitable giving, estate and financial planning services
- Uses a broker/dealer and/or bank to custody assets and to settle and/or to execute trades
What is a CFP®?
The CFP® marks represent a Certified Financial Planner designation. An individual who has earned these marks has met the education, examination, experience and ethics standards established by the Certified Financial Planners Board of Standards (CFP Board). Therefore, a financial planner who has earned the CFP® marks should be distinguished from a financial planner who has not. Consumers need to be aware that there is nothing preventing a person from declaring themselves a "Financial Planner", and it is therefore incumbent upon the consumer to differentiate between a planner who has earned the marks and one who hasn't.
If a financial planner has earned the right to use the CFP® marks, this means that he or she has met the following requirements:
- Education: There are three ways to meet the CFP® certification education requirement: 1) completing an education program at a college or university whose curriculum is registered with the CFP Board; or 2) submitting a transcript of previous financial planning-related course work to the CFP Board for review and credit; or 3) showing the attainment of certain professional designations or academic degrees.
- Examination: Candidates for the CFP® certification must pass a rigorous two-day, 10-hour CFP® Certification Examination administered by the CFP Board that covers the financial planning process and includes such topics as tax planning, employee benefits and retirement planning, estate planning, investment management and insurance
- Experience: Candidates for CFP® certification must prove they have experience in the financial planning process before being authorized to use the CFP® marks.
- Ethics: Candidates for CFP® certification have their backgrounds checked by the CFP Board, and must also disclose any investigations or legal proceedings related to their professional or business conduct. The CFP Board reviews all such disclosures and investigates those statements that indicate areas of concern.
What is a CLU?
The Chartered Life Underwriter (CLU) designation is the undisputed professional credential for persons involved in the protection, accumulation, preservation, and distribution of the economic values of human life. Since the first examinations were held in 1928, more than 85,000 men and women have met the educational, experience, and ethics mandates needed to earn the CLU designation. The CLU program provides insights into the life insurance business, its importance to the economy, its operation and distribution systems, and its resurging importance for safe and secure investments. For agents, field managers, home office personnel, and others involved in providing life insurance products to the public, the CLU designation is the common bond for continuing growth and commitment to professionalism.
Why select a CLU?
Since the first examinations were held in 1928, only a select group, fewer than five percent of those in the field, have qualified to earn this designation. The requirements for becoming a CLU are stringent. Each CLU must pass a comprehensive curriculum of ten college level courses, have extensive experience in the industry, and preserve the integrity of the designation by subscribing to a strict code of professional ethics. The CLU program provides insights into the life insurance business, its importance to the economy, its operation and distribution systems, and its resurging importance for safe and secure investments.
What is a ChFC®?
The Chartered Financial Consultant (ChFC®) focuses on the comprehensive financial planning process as an organized way to collect and analyze information concerning a client's total financial situation. They help their clients identify specific financial goals; and to formulate, implement and monitor a comprehensive plan to work towards those goals. A ChFC® adheres to a strict code of ethics and has prepared extensively to provide sound, comprehensive financial advice. Every ChFC® candidate must have at least three years of industry experience and successfully pass 10 college-level courses from the American College in Bryn Mawr, PA. Since its inception, more than 37,000 men and women have met the educational, continuing education, experience, and ethics mandates needed to earn the ChFC® designation.
What is a CCPS?
A Certified College Planning Specialist is a financial professional who has demonstrated the skills necessary to assist families in preparing for the financial cost of sending children to college. The CCPS is trained to identify the most economically advantageous methods to save and pay for college.
The Certified College Planner Specialist (CCPS) is a professional designation focused exclusively on college financial planning and is awarded to those financial advisors who has meet the high standards of education, experience, and professionalism that are required of all its members
No information on this site is intended to constitute an offer to sell or a solicitation of an offer to buy shares of any security, nor shall any security be offered or sold to any person, in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under securities laws Registered Representatives of LPL Financial may only discuss securities with or transact business with persons who are residents of the following states: AZ, CA, CO, HI, ID, KS, NM, NV, OR, UT, WA
Securities offered through LPL Financial, member FINRA/SIPC.org, A Registered Investment Advisor. Financial Planning offered through Financial Management, Inc., A Registered Investment Advisor and separate entity from LPL Financial.