The RICP Advantage - Discover the Leader in Retirement Planning Designations

The RICP Advantage - Discover the Leader in Retirement Planning Designations

The American College of Financial Services
February 15, 2016

Are your clients ready to retire? And more importantly, are you prepared for their retirement? How you answer the latter will have a huge impact on the success of your client’s retirement plans.

When searching for a financial advisor, investors look for a qualified, well-trained and experienced individual to help develop their retirement income plan. The Retirement Income Certified Professional®  (RICP®) designation indicates with proof that you satisfy all of the above requirements.


What is the RICP® designation?

RICP® is a professional designation offered by The American College of Financial Services and designed to provide financial advisors and insurance agents with a thorough understanding of retirement income planning and real-world applications.  The RICP® program consists of three in-depth online courses covering topics essential to retirement income planning:

  • Retirement Income Process, Strategies, & Solutions (HS 353): Outlines the process for building a comprehensive retirement income plan by identifying needs, evaluating risks, and monetizing assets
  • Sources of Retirement Income (HS 354): Reviews important retirement decisions, such as when to retire and how to claim social security, incorporate life insurance, and create a retirement savings portfolio
  • Managing the Retirement Income Plan (HS 355): Focuses on initial and ongoing retirement income plan management, such as recommending health insurance, funding long-term care, and creating satisfaction in retirement

Rather than a traditional and mundane textbook, the program is built around an innovative online video series that allows you to learn directly from over 40 leading industry experts, updating you on the latest trends and offering unique strategies for your clients’ retirements.

Following each course, advisors must pass an exam before continuing onto the next section, proving efficiency and competency in critical concepts and applications necessary to be an effective retirement income planner. Throughout the program, advisors are given the opportunity to review previous material and retake exams when necessary.

Why should you obtain the RICP® designation?

With an estimated 10,000 baby boomers reaching retirement age everyday, it’s more important than ever that you obtain the RICP® designation. The increase in retirees and near-retirees means there is a larger demand for experts in retirement planning. Most financial professionals are experienced and proficient in accumulating retirement savings, but many lack knowledge on how to best convert these assets to a suitable retirement income stream.

To ensure clients are adequately prepared and positioned for a successful future, you must also be prepared and aware of the specific areas of retirement income planning. Acquiring your RICP® designation addresses these specifics and offers numerous benefits:

  • Obtaining an RICP® designation helps you gain a competitive advantage. When a client is deciding between yourself and a competitor, your advanced education will distinguish you from your peers and position you as an industry expert.
  • Earning your RICP® designation will elevate your skills and prepare you for any potential challenges that may arise during retirement income planning. You acquire useful knowledge that you can apply immediately to helping your clients.
  • This financial designation will help you advance your career and grow your business. Clients want to believe their assets are in capable and reliable hands. Your designation proves your credibility and demonstrates that you are committed to your profession and your clients’ success.
  • The training program does not involve a long, drawn-out commitment of time or energy. In fact, this designation can be earned in a year or less.
  • The knowledge you gain can be helpful in a professional and personal capacity. Your RICP® designation can assist you when considering your own future.

Investors are desperately searching for retirement planning advice, and they look to you to provide relevant, practical and sometimes sophisticated ideas. While an advanced understanding of investing is critical to your success as a financial advisor, a deep understanding of retirement income planning concepts and applications diversifies your skillsets and broadens your opportunities to help clients in meaningful, fulfilling ways.   

You can learn more about or enroll in the RICP® designation by visiting our website. We also have a team of knowledgeable advisors who can help you determine if obtaining an advanced financial designation like the RICP® makes sense for your career.  Call them at 1-888-263-7265 or download our free guide with information on becoming a successful retirement income planner for expert insight and tips.