Initial Requirements

AIF® Designation - Initial Requirements

 

There are five requirements for attaining the AIF® designation:

  1. Enroll in and complete the AIF® Training
  2. Pass the AIF® Examination
  3. Meet the experience requirement (prerequisites)
  4. Satisfy the Code of Ethics and Conduct Standards
  5. Submit the application and dues

The requirements must be met sequentially with the exception of the experience requirement. It can be met prior to initiating, or concurrent with, previous steps in the process, though it must be met within one (1) year of passing the Examination. After one year, candidacy is terminated, and previously-completed training and/or examination will be nullified.

Training

Completion of the AIF® Training is required to attain the AIF® designation. It is available in two formats, and takes approximately 8-10 hours to complete the online component (not including personal study time). The Capstone format includes an additional 6-8 hours of instructor-led course review and exam preparation.

  • Self-paced Online format (“Online”)
  • Capstone format (“Capstone”)

Access to the online content is available for ninety (90) days with the online format, and one hundred eighty (180) days with the Capstone format. Upon expiration, a ninety (90) day extension may be purchased for a fee of $150.

A refund is available within seventy two (72) hours of purchase provided the online content has not been accessed, and the request is made at least twenty one (21) days prior to the instructor-led seminar (if applicable).

Examination

A minimum score of 75% on the AIF® examination is required to attain the AIF® designation. The proctored exam is a timed, closed-book assessment of the Prudent Practices and methodology, as well as their proper application. It consists of sixty (60) multiple choice questions with a time-limit of ninety (90) minutes. Re-testing is governed by the examination retake policy.

The examination must be attempted within one (1) year from the date of its purchase. After one year, access will be revoked and the examination must be repurchased.

A refund is available for seventy two (72) hours from the date of purchase provided the examination has not been accessed. 

Experience Requirement

One of the following combinations of education, industry experience, and/or professional development is required to attain the AIF® designation:

  • Minimum of two (2) years of relevant experience; a bachelor’s degree (or higher); and a professional designation.
  • Minimum of five (5) years of relevant experience; a bachelor’s degree (or higher) or a professional designation.
  • Minimum of eight (8) years of relevant experience.

Relevant experience is that which has been accrued in a non-clerical role within the financial services (or a related) industry.

A degree must be awarded by an accredited U.S. college or university. International degrees may be substituted for a U.S. degree if they receive equivalency from a third-party evaluation agency that is a member of the National Association of Credential Evaluation Services (NACES).

A professional designation is one conferred by a recognized body within the financial services industry. Candidates must meet all established initial and ongoing requirements and be in good standing. fi360 reserves the right to make a final determination on whether a designation meets its criteria.

 

 

 

AIFA® Designation - Initial Requirements

This article describes the initial and ongoing requirements for attaining and retaining the AIFA® designation.

Initial Requirements

The requirements for attaining the AIFA® designation are:

  1. Attain the AIF® designation
  2. Enroll in and complete the AIFA®Training
  3. Pass the AIFA® Examination
  4. Meet the experience requirement (prerequisites)
  5. Satisfy the Code of Ethics and Conduct Standards
  6. Submit the application and dues

The requirements must be met sequentially with the exception of the experience requirement. It can be met prior to initiating, or concurrent with, previous steps in the process, though it must be met within one (1) year of passing the AIFA® Assessment. After one year, candidacy is terminated, and previously-completed training and/or examination will be nullified.

Training

Completion of the AIFA® Training is required to attain the AIFA® designation. The AIFA Training a three-day, instructor-led seminar available to AIF® designation holders. Students are required to complete pre-reading prior to the instructor-led seminar.

A refund is available provided cancellation is requested at least twenty one (21) days prior to the seminar.

Examination and Evaluation

Participants in the AIFA® Training are evaluated on the following components:

  1. Quiz
  2. Participation
  3. Final examination

The culminating final examination is a timed, proctored, closed-book assessment of the procedures for performing fiduciary assessments. It consists of short answer, multiple choice, and case study questions, and must be completed within a time-limit of ninety (90) minutes. Re-testing is governed by the examination retake policy. A minimum total score of 75% – inclusive of the quiz, participation, and final examination scores – is required to attain the AIFA® designation.

Experience Requirement

In addition to holding the AIF® designation, a minimum of eight (8) years of relevant experience is required to attain the AIFA® designation. Relevant experience is that which has been accrued in a non-clerical role within the financial services (or a related) industry.

 

 

PPC® Designation - Initial Requirements

There are five requirements for attaining the PPC® designation:

  1. Enroll in and complete the PPC® Training
  2. Pass the PPC® Examination
  3. Meet the experience requirement(prerequisites)
  4. Satisfy the Code of Ethics and Conduct Standards
  5. Submit the application and dues

The requirements must be met sequentially with the exception of the experience requirement. It can be met prior to initiating, or concurrent with, previous steps in the process, though it must be met within one (1) year of passing the Examination. After one year, candidacy is terminated, and previously-completed training and/or examination will be nullified.

Training

Completion of the PPC® Training is required to attain the PPC® designation. It is available in two formats, and takes approximately 10-15 hours to complete.

  • Self-paced Online format (“Online”)
  • Classroom format (“Classroom”)

Access to the online content is available for ninety (90) days with the Online format. Upon expiration, an extension may be purchased for a fee of $150. The Classroom format consists of an instructor-led seminar without an online component.

A refund is available within seventy two (72) hours of purchase provided the online content has not been accessed, and the request is made at least twenty one (21) days prior to the instructor-led seminar (if applicable).

Examination

A minimum score of 75% on the PPC® examination is required to attain the PPC® designation. The proctored exam is a timed, closed-book assessment of the six critical service issues plan sponsors face, as well as related topics, and how to address shortfalls. It consists of fifty (50) multiple choice questions with a time-limit of ninety (90) minutes. Re-testing is governed by the examination retake policy.

The examination must be attempted within one (1) year from the date of its purchase. After one year, access will be revoked and the examination must be repurchased.

A refund is available for seventy two (72) hours from the date of purchase provided the examination has not been accessed.

Experience Requirement

One of the following combinations of education, industry experience, and/or professional development is required to attain the PPC® designation:

  • Minimum of two (2) years of relevant experience;a bachelor’s degree (or higher); and a professional credential.
  • Minimum of five (5) years of relevant experience; a bachelor’s degree (or higher)or a professional credential.
  • Minimum of eight (8) years of relevant experience.

 

Relevant experience is that which has been accrued in a non-clerical role within the financial services (or a related) industry.

A degree must be awarded by an accredited U.S. college or university. International degrees may be substituted for a U.S. degree if they receive equivalency from a third-party evaluation agency that is a member of the National Association of Credential Evaluation Services (NACES).

A professional credential is one conferred by a recognized body within the financial services industry. Candidates must meet all established initial and ongoing requirements and be in good standing. fi360 reserves the right to make a final determination on whether a credential meets its criteria.

 

 

 
   

 

 

General

Application

Completion of the application – consisting of five sections – is required to attain an fi360 designation. The application must be submitted within one (1) year of successful completion of the examination. After one year, candidacy is terminated, and previously-completed training and/or examination will be nullified.

  1. Background Information– This section allows for input of contact information, as well as any financial services-related credentials held, and is used to confirm that an applicant meets the experience requirement.
  2. Education– This optional section allows for input of the highest post-secondary degree attained, and is used to confirm that an applicant meets the experience requirement.
  3. Work History– This section allows for input of work experience accrued in the financial services, or related, industry, and is used to confirm that an applicant meets the experience requirement. Only the minimum experience necessary to meet the experience requirement is required to be included in the application (see Experience Requirement).
  4. Conduct Standards– This section allows for responses to questions related to past criminal and civil litigation, regulatory events, and personal and professional conduct. Any affirmative responses will be reviewed by fi360’s Professional Development staff, and may preclude an individual from attaining the designation.
  5. Code of Ethics– This section allows for attestation to the tenets of ethical conduct required to attain (and retain) the designation, and must be read and affirmed prior to submission of the application.

Audit

fi360 randomly audits 5% of new and renewing designation applications. Upon submission, an audit may be conducted to ensure compliance with, and maintain the integrity of, the designation-granting process. Individuals who are selected for a random audit will be notified as such, and will have ten (10) business days from the date of the request to respond with any requested documentation.In the event any deficiencies are determined, individuals will have thirty (30) days to correct them (e.g., report additional CE hours).

Examples of requested documentation may include proof of graduation (e.g., copy of diploma, transcript) from an educational institution, proof of employment, letter of good standing for a professional designation/license, and past criminal and civil litigation, regulatory event, and financial bankruptcy records.

Another type of audit is one by an affirmative response to a question within the Conduct Standards Questionnaire. If an applicant submits a violation of the Conduct Standards, the audit is subject to the Qualification and Complaint Procedure and could take up to 30 calendar days to complete.  

If an applicant is denied a credential due to the findings of an audit, or through other means of discovery, the applicant is entitled to an appeal (see Qualification and Complaint Procedure). The application fee is non-refundable if an applicant is denied acceptance.

Establishment of Award Date

An fi360 designation is considered active for twelve months from the award date provided all established conduct and ethical standards are met and continuously upheld. Establishment of the award date is based on the month in which the application is processed and approved. The official award date is the first day of the month following approval. The following table provides several examples:

Date of Application Approval

Award Date

February 7

March 1

June 29

July 1

November 10

December 1

 

Upon approval, the recipient is entitled to all rights and privileges associated with the attained designation. A certificate is mailed within six weeks, and notification is provided via email when it has been shipped. Additional certificates may be purchased at www.fiduciarystore.com. An electronic version of the certificate is not available, though a letter of good standing may be requested.

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