BRYN MAWR, Pa., Oct. 29, 2013 /PRNewswire-USNewswire/-- With 76 million Baby Boomers concerned about the safety of their retirement plans and options, the Retirement Income Certified Professional® (RICP®) designation has now become the fastest-growing financial advisor credential ever launched in the 87 year history by The American College of Financial Services.
"Every day, more than 10,000 Baby Boomers hit retirement age. But unlike their parents' generation, many consumers don't have pensions to rely on, and there is deep confusion about the safety of government bonds and how Medicare and Social Security may change in the future," notes Dr. Larry Barton, President and CEO of the non-profit, accredited university. "The three, intense courses that are delivered strictly online, with detailed case studies and challenges on how to help all clients, from those at-risk for poverty all the way to the ultra affluent, has delivered unlike anything we have seen over nine decades."
Since the RICP® was launched a year ago, more than 3,000 licensed advisors and insurance agents have registered for the program that explores questions such as:
- What is the best strategy for meeting a client's income needs in retirement?
- What is the safe withdrawal rate from a portfolio?
- How should portfolios be managed differently during the course of retirement?
- How can clients maximize income in a low-interest-rate environment?
- What is the most tax-efficient withdrawal strategy?
- How can clients choose the best Social Security claiming strategy?
- How do income annuities and employer-sponsored benefits fit into the mix?
"The dynamics of drawing down one's savings and living a fulfilling lifestyle in retirement are very different from the accumulation phase of retirement planning," said David A. Littell, JD, Program Director for RICP® and Director of The American College's New York Life Center for Retirement Income. "Many advisors are hungry for further education and training that will help them serve clients grappling with the retirement income challenge. The RICP® is the premier program advisors can turn to meet this need."
The RICP® curriculum contains three in-depth college-level courses covering topics central to any retirement income plan:
- Retirement Income Process, Strategies and Solutions
- Sources of Retirement Income
- Managing the Retirement Income Plan
"The retirement income challenge is growing daily," said Barton. "Financial advisors are not yet equipped to handle the onslaught of client issues heading their way."
Advisors can learn more about the RICP® program by visiting TheAmericanCollege.edu/RICP, while consumers can learn about this credential and others at DesignationCheck.com™.
About The American College
The American College of Financial Services is the nation's largest non-profit educational institution devoted to financial services. The College serves as a valued partner to banks, brokerage firms, insurance companies and financial professionals. The American College's faculty represents some of the financial services industry's foremost thought leaders. For more information, visit TheAmericanCollege.edu.
SOURCE The American College