New FSCP designation to replace LUTCF

A new designation was announced on Sept. 24 by The American College.

The Financial Services Certified Professional (FSCP) designation can be earned by advisors who pass "a rigorous program designed to help advisors understand client needs in a comprehensive manner rather than directly 'selling product' without due diligence," according to a press release from The American College announcing the new designation.

The FSCP designation is the successor to and will replace the LUTCF (Life Underwriter Training Council Fellow) sales training program. The FSCP retains the LUTCF's sales advice with more detailed content and choices for financial advisors on such topics as social media use, health care reform, financial planning for divorce situations, and more.

While professionals will not be able to earn the credential until 2014, they may begin taking courses to satisfy program requirements now. No new students will be accepted into LUTCF or FSS after Dec. 31. Beginning Jan. 1, all new training program students will be in the FSCP curriculum. Those who hold the LUTCF designation will have until mid-2015 to take a completer program and achieve the new designation.

"Most consumers are very satisfied with the knowledge and professionalism of their advisors, but we also know that many advisors only complete company training programs without an objective landscape of what consumers expect," says Larry Barton, president and CEO of The American College.

"By moving from a moderator-led format to one that emphasizes online learning, students can study at their own pace but also immerse themselves in case studies, video scenarios and discussion options regarding what is most suitable for a client, rather than what is 'the best sale,'" Barton adds.

In addition to taking 10 elective educational units across a wide variety of topic areas and completing "The Ethical Advisor" requirement, candidates for the FSCP credential must complete a final eight-week live webinar course and take a proctored designation exam at a testing center, adhere to a code of ethics, and satisfy ethics-related CE requirements every two years to continue using the designation.

The FSCP program offers professionals their choice of live classroom learning, live online classes, asynchronous online classes, and self-paced modules. Students may mix and match their learning choices to fit their schedules and preferences.

"Financial services professionals need to master more skills and knowledge than ever before," Barton says. "We've designed FSCP to appeal to independent advisors, wealth managers, insurance specialists, registered reps, and other financial professionals who want to be better at what they do. We know that their productivity, upon completing The American College designations, can soar as much as 72 percent. This is the ultimate win for consumers and advisors who believe that learning is integral to career success and especially to how to differentiate themselves from their peers."

It has consistently been demonstrated that advisors who attain credible designations earn more money than advisors without these designations. While increasing your earnings is obviously important, it is really a byproduct of a greater good. It puts you in a position to do a better job for your clients.

Those seeking more information can contact an educational counselor at (888) 263-7265 or visit www.theamericancollege.edu/FSCP.

Registration is also in full swing for The American College's 2013 Knowledge Summit, scheduled for Nov. 20-22 at Caesar's Palace in Las Vegas. Among the many featured speakers will be a keynote address from George Will of the Washington Post and a commencement address from Carolyn Feeney, CLU, ChFC, president of agency distribution for Prudential's domestic individual life insurance business.

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