Due to the expansion of the fiduciary rule by the DOL, Financial Advisors and Insurance agents who sell life insurance and annuities must be aware of what types of investment advice triggers the fiduciary responsibilities. As a result of the new rule, certain types of investment advice would result in needing specific disclosures and exemptions to get paid for the sale. This includes the sale of fixed indexed annuities and life insurance if the funds are coming from qualified retirement accounts (like 401ks or IRAs). Not knowing what a fiduciary is, what triggers fiduciary responsibility, what is and is not considered investment advice, and what disclosures are needed to complete the sales of Qualified FIA’s or Life Insurance funded by formerly qualified money could be detrimental to an advisor's practice. It could also result in fines, lawsuits, and/or inability to get paid for their services.
This course aims to eliminate that possibility by providing a comprehensive training on the fiduciary rule and what it means to be a fiduciary in general, as well as how it affects insurance agents and their agencies and financial advisors and their practices. Additionally, this course covers practice or agency management by discussing what is required in terms of providing illustrations and proposals that demonstrate impartial conduct and best interest standards, as well as the documentation needed to meet the fiduciary requirements and how long these documents must be stored. Moreover, clients are beginning to ask if the agent or advisor that they are working with is acting as a fiduciary. We believe that it will soon become the expected standard.
Certified Financial Fiduciary® Certification training Benefits
Certified Financial Fiduciary® is a professional designation for financial professionals, namely, those who have successfully completed a rigorous certification process established by the National Association of Certified Financial Fiduciaries (NACFF) and AFEA (The American Financial Education Alliance), and who agree to uphold the highest moral, ethical and fiduciary standards of service when providing advice to potential or existing clients.
Financial professionals who have earned the Certified Financial Fiduciary® designation can immediately and clearly demonstrate how they practice a fundamental obligation to always put their clients best interest first. Additionally, Certified Financial Fiduciary® designees are bound by a code of conduct which holds them to the highest standards of professionalism in the financial services industry.
The certification mark coupled with the information and processes taught in the course make it easy for a financial professional to quickly demonstrate the added value and security they bring to potential and existing clients.
WHAT YOU WILL GET OUT OF THE COURSE
- Become a Certified Financial Fiduciary® CFF designee
- Have a sound financial planning or investment advisory practice based on comprehensive policies and procedures
- Strong familiarity with the DOL ruling and how it affects your practice
- Understand the basis for, and benefits of, creating fiduciary standards of excellence in your practice
- Identify the different types of fiduciary status and when an individual or organization might have fiduciary liability
- Separate yourself from your competition
- Grow your practice built on good faith, care, and loyalty to your client’s best interest
- Gain Instant credibility and Increase your value to existing and prospective clients
- Easily demonstrate that you always put your client's best interest first
PROVIDED WITH THE COURSE
- Live instructor led classroom training
- Course handbook
- CFF® examination
The National Association of Certified Financial Fiduciaries (NACFF) partners with the American Financial Education Alliance (AFEA) and IRS approved 501(c)(3) that specializes in providing financial education to communities nationwide, to provide this course and educational content.