More On Legal & Compliancefrom The Advisor's Professional Library
- Client Communication and Miscommunication RIA policies and procedures must specify what type of communications should be retained. The safest course of action is for RIAs to retain all communicationsto clients, from clients, and about client accounts. To comply with fiduciary obligations, communications must be thorough and not mislead.
- Privacy Policies and Rules Whether an RIA is SEC or state-registered, the firm must have policies and procedures in effect to protect clients privacy. Policies and procedures should explicitly require an RIA to send out its privacy notice each year.
A new advisor education partnership between fi360 and the Retirement Advisor University will join fiduciary responsibility with retirement planning training courses and designations, the partners announced Monday.
In joining forces, the Retirement Advisor University (TRAU) at the UCLA Anderson School of Management along with fiduciary education group fi360 will let students and advisors earn reciprocal course credits and participate at a discounted rate in each organization’s training programs.
The shared training modules will be available at TRAU and fi360 starting in June and July, said fi360 CEO Blaine Aikin (left) in an interview with AdvisorOne.
“Through this relationship, advisors who complete the retirement modules through fi360 get tuition credit toward the C(k)P designation, and we reciprocate with TRAU toward the AIF designation,” Aikin said.
C(k)P, also known as certified 401(k) professional designation, provides practical management experience and specialized training to retirement plan advisors. The AIF, or accredited investment fiduciary, designation covers legal issues and best practices for investment fiduciaries.
Regulation continues to evolve in the fiduciary world, which makes the expanded fi360 and TRAU coursework for advisors especially timely, according to Fred Barstein, the founder and executive director of TRAU.
TRAU bills itself as the first retirement planning certification program associated with a nationally recognized institution of higher learning. Through the program, advisors and wholesalers earn professional certification recognized by plan sponsor clients, prospects and the broader retirement industry.
“This partnership with fi360 will add depth to our retirement advisor curriculum,” Barstein (left) said in a statement. “Given the ongoing regulatory debate surrounding the fiduciary standard, it now makes sense to increase our educational offerings to help current advisors, registered representatives and other investment fiduciaries prepare for the changes ahead.”
TRAU is part of UCLA Anderson’s executive education program, with courses taught by faculty members as well as retirement industry professionals. The curriculum comprises on-site classes at the UCLA campus, virtual classroom courses and self study.
Read about fi360’s writing contest and upcoming annual conference at AdvisorOne.