Continuing Education Requirements
Associate and Professional Members (R.F.P.s) shall maintain a minimum of 30 acceptable Continuing Education (C.E.) credits per year.
Associate and Professional Members (R.F.P.s) shall maintain a minimum of 30 acceptable Continuing Education (C.E.) credits per year. Failure to meet the standard shall allow the Board to refuse continued membership. This is to ensure that practicing Members are staying up-to-date in a rapidly changing financial environment.
Members must keep track of their C.E. credits on a calendar year basis and attest that they have met C.E. requirements as part of their membership renewal each year. Ten percent of Members are randomly selected each year for a review. A credit is generally equal to one hour of continuing education.
All Professional and Associate Members must earn at least one Ethics credit each year. IAFP Members can earn immediate credits each year upon completion of a challenging online Ethics and Practice Standards Quiz.
The remaining credits must be earned from at least two of the following topic areas to ensure breadth of knowledge:
(i) Financial Planning Fundamentals
(ii) Retirement Planning and Employee Benefits
(iii) Estate Planning
(iv) Tax Planning
(v) Insurance Planning
(vii) Practice Management
(viii) Interpersonal Skill Enhancement
(ix) Client Counseling
At present, credits in excess of the 30 hours required for the reporting period cannot be carried over to subsequent years. Where a program spans more than one calendar year, the credits earned can be pro-rated between the two calendar years.
A variety of activities will qualify as continuing education, provided they adhere to the subject matter above. The following examples will assist you in determining appropriate C.E. credits.
Professional training and development seminars are available through numerous sources, including professional organizations, as well as educational bodies. Sessions vary in topic and length.
Generally, 5.5 hours of credits will be given for a 7-hour course, to account for breaks and lunch.
One semester of a credit course offered by a university or community college will qualify for 30 C.E. credits. For non-credit courses, one credit will be granted for each 50-minute session.
The educational component of conferences will qualify for one C.E. credits for each hour of educational activity. Normally, sponsoring organizations will apply to the IAFP to pre-determine credits. The IAFP Advanced Financial Planning Symposium normally qualifies for 15 hours or more of C.E. credits.
In-house training programs are also acknowledged as qualified continuing education credits. One credit will be granted for each hour of instruction/ discussion.
Correspondence and distance education courses qualify for C.E. credits, as do self-study programs using printed material, audio and video tape cassettes, interactive CDs, etc. For courses that have assignments or exams, the C.E. credits earned are equal to the sponsor’s recommended number of study hours. If the program does not include exams or assignments, the C.E. credits earned are one-half the sponsor’s recommended number of study hours.
C.E. credits can also be earned for being an instructor, discussion leader, or speaker, based on two credits for each hour of presentation time. This applies only to the first year of presenting the material. Credit for teaching may not exceed 15 hours (50%) of your C.E. requirements for any calendar year.
C.E. credits will also be given for books and published articles that relate to applicable topics. Credits for writing may not exceed fifteen hours (50%) of your total C.E. requirements for any calendar year.
C.E. credits will be given for reading pertinent trade and technical journals, articles, books, periodicals and magazines. Title, author and publication must be recorded. Credits for reading may not exceed ten hours (one third) of the required Continuing Education requirement.
NOTE: Members will be subject to audit of their C.E. credits and are required to submit supporting documentation upon request.
Last updated: 16 Jan 2014 3:35 PM
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