Backing your boomers – majority of advisors reveal they’ll go after the TEP next.
In this month’s Wealth Professional magazine, we canvassed professional advisors across the country to find out exactly what the industry thinks about Canadian financial certifications. Among the many questions, we asked what designation advisors would be most likely to go after next and results show that the TEP came out on top.
Overwhelmingly, 33.5 per cent of you said you’d be most likely to pursue the trust and estate planning designation next, signaling a strong desire to support those baby boomer clients as they begin preparing for their final years.
With a TEP certification, clients can rest assured that advisors are competent and qualified in managing all executor disciplines involving wills, trusts and estates so it seems many advisors are actively trying to keep their aging clients’ custom.
Coming in at a not-so-close second place, 17.5 per cent of advisors said they’d be most likely to try for the certified life underwriter (CLU) designation. While the CLU was first created by the life insurance industry, much of the emphasis is on wealth transfer and estate planning so, again, advisors seem to be catering to their aging clientele.
The chartered investment manager (CIM) designation earned 16 per cent of votes and landed in third place, followed by the CFP and CFA with 10.9 per cent and 10.7 per cent respectively. A melee of other certifications secured several mentions but failed to break 5 per cent so remain unlikely outsiders.
Comprehensive results from the Wealth Professional certification survey can be found in this month’s Wealth Professional magazine. Take a look at the online version here