The American College says the site offers insight on educational and experience requirements, codes of ethics, examinations, continuing education requirements, enforcement, accreditation and information about the conferring organization. The college says non-profit organizations that would like to have their credentials listed may submit a request through the Feedback section on DesignationCheck.com.
“There is an inherent lack of trust in insurance and financial planners,” says Larry Barton, Ph.D., CAP, president and CEO of The American College. “While no credential, such as a CPA or CLU, guarantees superb advice, we know for a fact that those with these designations are more likely to ensure sound and unbiased planning, and that they have completed a course of study that took years and numerous exams to complete.
“Unfortunately, there are more than 300 financial designations available, and some can be completed in just one day of study,” Barton continues. “We must encourage Congress to stop this insanity of unlicensed and unchecked, for-profit companies issuing certificates with initials that confuse consumers.”
DesignationCheck.com also contains links to other resources, including those available from FINRA and the AICPA, notes the college, adding that other features address questions consumers should be asking when selecting an advisor, and help consumers find local, credentialed financial professionals.
