Since the introduction of the CE Accreditation Services, The Institute has observed that in excess of 99% of Institute-accredited CE credits have passed the scrutiny of the Financial Planning Standards Council® (FPSC®) CE audit process. Therefore, we believe that these reports, which accompany all Advocis CE certificates, will give you the necessary documentation to demonstrate alignment with FPSC CE requirements. All Advocis CE certificates and CE Decision Reports are included in .pdf format in the Advocis CE database. These reports can also be obtained from the CE provider following completion of an Institute-accredited program.
Effective January 2014, with the new CE guidelines for CFP® professionals now in effect, The Institute amended its CE Decision Reports to include a statement outlining areas of alignment with the CFP® Professional Competency Profile. A sample Institute CE Accreditation Decision Report can be found here. Should the applicability of an Institute-accredited program be questioned by the FPSC (or any other jurisdiction) in an audit situation, please contact us at firstname.lastname@example.org for assistance.
Are the courses leading to the CLU® designation FPSC-approved?
The Institute does not submit courses leading to an industry-recognized designation to any body for CE pre-approval or CE accreditation. Specifically, the CLU courses have not been submitted to FPSC pre-approval for the following reasons:
- The FPSC recognizes the CLU designation as one of the “allied credentials” within its Approved Prior Credential Policy.
- The CLU is an advanced designation that expands on the knowledge gained in the Certified Financial Planner® (CFP®) education program with a focus on estate planning and wealth transfer. The CLU is governed by The Institute Board of Trustees and requires ongoing maintenance requirements in order to maintain the designation, including adherence to a code of professional conduct, annual continuing-education requirement, and payment of an annual designation licensing-fee.
- The Institute’s CE Accreditation Services does not require education programs leading to recognized designations in the financial-services industry to be submitted for accreditation if they meet the following minimum standards:
- Be comprised of three or more courses requiring a minimum of 30 study hours each with successful completion confirmed through an impartial assessment requiring a score of at least 60%
- Require an annual CE requirement to maintain status in good standing
- Require adherence to a published code of professional conduct
- Have a published disciplinary policy to arbitrate breaches of its code of professional conduct
- Advocis and The Institute believe that the education content in the CLU education program courses Advanced Taxation (137 study hours excluding evaluations), Law (45 study hours excluding evaluations) and Advanced Estate Planning (133 study hours excluding evaluations) meet the continuing-education guidelines set by Financial Planning Standards Council® (FPSC®). Considering the extensiveness of these three courses, The Institute equates each to be eligible for 40 Verifiable CE credits. According to the FPSC Continuing Education Guidelines, CFP professionals have the option of carrying over up to a maximum of 25 credits to the next calendar year (see FPSC for further details).