0
The Chartered Financial Consultant (ChFC) designation requires candidates to demonstrate proficiency in the areas of financial planning, such as income tax, insurance, investment and estate planning. This ChFC designation is similar to a CFP designation.
Candidates are also required to have a minimum of three years experience in a financial industry position.
The ChFC program is administered exclusively by the American College in Bryn Mawr, Pennsylvania.
What else can I help you with?
What do the letters ChFC represent?
ChFC® stands for Chartered Financial Consultant. It is a designation awarded by The American College.
What is the market cap for Chemical Financial Corporation CHFC?
As of July 2014, the market cap for Chemical Financial Corporation (CHFC) is $916,790,365.89.
What is the symbol for Chemical Financial Corporation in NASDAQ?
The symbol for Chemical Financial Corporation in NASDAQ is: CHFC.
Which is better CFP or ChFC?
The PC answer is both have merit and its depends on the person. It might be better stated..."Which is harder to obtain?" Today's CFP generally takes the same college courses as one who has the ChFC, exept the ChFC will take two to three more college courses to obtain their designation. Each course requires an actual final exam to prove comprehension. Exampleof course from American College: CFP & ChFC Required Courses:HS 300 Financial Planning: Process and Environment*HS 311 Fundamentals of Insurance PlanningHS 321 Income TaxationHS 326 Planning for Retirement NeedsHS 328 InvestmentsHS 330 Fundamentals of Estate PlanningChFC Elective Courses:HS 322 The Financial System in the EconomyHS 334 Estate Planning ApplicationsHS 352 Financial Decisions for Retirement The big distinction is the CFP must pass a rigourous two day ten hour test covering variuos financial planning topics (last count was 89 distinct areas of knowlegde) given by the CFP Board before being able to use the CFP designation. Passing rates for this test usually average 60% (historically it's lower the second time you attempt it). CFP certification requirementhttp://www.cfp.net/learn/knowledgebase.asp?id=11 CFP Exam Topic Listhttp://www.cfp.net/downloads/Financial%20Planning%20Topics%202006.pdf Some CFP's such as CPA and lawyers need only pass the test without taking the additional college course work, but cannot get the ChFC without taking additional college course work. Also CFPs must have at least three years of planning/advising experience before using the CFP marks.
What is the ticker symbol for Chemical Bank?
CHFC is the ticker symbol for Chemical Financial Corporation which is the holding company for Chemical Bank in Michigan. It trades on the NASDAQ.CHL is the ticker symbol for the former Chemical Banking Corporation which owned Chemical Bank in New York. It merged with Chase Manhattan Corp on 3/31/1996.
What degree do you need to become a financial advisor?
As of January 1st, 2008, an undergraduate degree is required to become a Certified Financial Planner (CFP). Most companies, such as Merril Lynch, Ameriprise, etc. require either an undergraduate degree, or the equivalant in insurance industry experience. I suggest you contact the American College, Bryn Mawr, PA. and inquire about their CLU, ChFC programs. They may be reached @ (610) 526-1000
What type of license is required to be a financial planner?
Currently, there is no special licensing requirement to become a financial planner. However, many financial planners earn a certified financial planning (CFP) or chartered financial consultant (ChFC) designation. To become a reputable financial planner in the US, you need to have a CFP Certification conferred by the Certified Financial Planner Board of Standards, Inc. (CFP Board), Financial Planners Standards Council in Canada, etc. depending on the country.
Do you include IRA single premium immediate annuities into a required minimum distribution calculation?
Single premium immediate annuity payouts (monthly or annual) from an IRA account automatically satisfy the IRS required minimum distribution rule. The annuity payouts are calculated based on life expectancy tables, just as RMD distributions are. The total of the IRA/SPIA account can therefore be excluded from the RMD calculation. Of course, ordinary income tax rates must be applied to the IRA SPIA distributions, as they are to any IRA distribution(s). CC, ChFc
Where exactly can you find a good agent?
The best source is a referral from family or friends that you trust. There are more honest agents than deceptive ones, but be careful and protect yourself. You may also consider referrals from your attorney, accountant or other trusted professional. Product benefits and features vary little from company to company, however the pricing or "premiums" will vary depending on what benefits and features are included in the package you select. You need a knowlegable agent (or broker) to recommend the insurance you need, and to guide you through your options. You may wish to use an agent that has earned professional designations, such as CLU, ChFC, CPCU, CLTC, RHU, or CIC from a reputable source.
Do you get money back after investing for life insurance?
AnswerLife insurance should never be considered to be an investment. It is a form of financial protection that is triggered by the insured's death. Whole life insurance (sometimes called "permanent insurance") accumulates cash value over a period of time. That is, a portion of the premium is applied to pay for the actuarially determined death benefit, and a portion is applied to the cash value which slowly accumulates within the policy. Depending upon the terms of the policy, it can be borrowed by the insured, usually at an advantageous interest rate. If not repaid, the amount borrowed, plus interest, is deducted from the death benefit.There are variants of whole life, which involve the application of some of the premium toward the purchase of, for example, mutual funds.Check with a reputable agent in your area, preferable one who has earned the CLU and/or ChFC designations from The Americam College. Also be certain that the insurer and the agent/broker are licensed to transact insurance in your state. This information can be obtained from the office of the state insurance regulator.
What are the permit and license requirements for an investment company in New Jersey?
Investment Advisor Representative (IAR) Registration Requirements:Licensing Requirements: Series 65, Series 66 and Series 7 combined, or CFP, CFA, CIC, ChFC, PFS.Each investment advisor representative must submit the form U-4 and ADV Part 2B.New Jersey Investment Advisor Registration ProcessInvestment Advisor Representative (IAR) Registration Requirements:Licensing Requirements: Series 65, Series 66 and Series 7 combined, or CFP, CFA, CIC, ChFC, PFS.Each investment advisor representative must submit the form U-4 and ADV Part 2B.General Firm Registration RequirementsPayment of all State of New Jersey registration filing feesFINRA Entitlement paperworkIn order to file a registered investment adviser application with the state of New Jersey, one must first apply to the Financial Industry Regulatory Authority (FINRA) for an account (Entitlement) to their WebCRD/IARD on-line system (the web application for the registration of RIA's and their representatives). While RIA's are in no way regulated or supervised by FINRA, the state of New Jersey uses FINRA's WebCRD/IARD system to process applications.Form ADV 1 (online)The Form ADV Part 1 is the on-line component to your Firm's registration documentation. Note: The Form ADV Part 1 primarily discloses information about the FIRM. Individual information is primarily disclosed in the Form U4 as detailed below. The Form ADV Part 1 is also the vehicle to upload your Firm's Form ADV Part 2A (Firm Brochure) and Form ADV Part 2B's (Brochure Supplements).Form ADV 2A (paper and online)The Form ADV Part 2A acts as your Firm's Brochure. It is a narrative description of your services, fees, disciplinary disclosures, as well as several other Firm details. The Form ADV Part 2A must be provided to all Clients and Prospective Clients. The state of New Jersey requires that the ADV Form 2A be written in "plain English" and easily understood by your clients.Form ADV 2B (paper and online)The Form ADV 2B is the paper brochure that Investment Adviser Representatives must (in most cases) provide to clients. This form contains employment, educational, conflict of interest, and disciplinary information. Generally, Executive Officers, any person generating investment advice provided to clients, and any representative advising clients must have a Form ADV Part 2B.Client Advisory ContractClient Advisory Contract including an investment policy statement that meets the appropriate regulatory authority standards for client advisory contracts in New Jersey state.Policies and Procedures ManualThe firm's Policies and Procedures manual is the guiding document that your firm will use to maintain and enforce your firm's internal policies on all aspects of your business from the handling of client complaints to the training of new Investment Adviser Representatives. It also houses your firm's Business Continuity Plan, Anti-money Laundering Policy, and Anti-insider Trading Policy.Privacy Policy StatementThe Firm's Privacy Policy Statement must be provided to all clients at the beginning of the client relationship and annually thereafter. It must disclose how the firm stores, and handles and disseminates client information. Privacy Policy Statements are built to your firm's specifications and designed to meet State of New Jersey compliance requirements.Code of EthicsCode of Ethics filing ensuring that you meet the standards of the State of New Jersey.
What is a Personal Finance Advisor?
Do you enjoy investing, math and interacting with clients? If so, a career as a personal financial advisor might be a good fit.What Is a Personal Financial Advisor?A personal financial advisor is someone who consults clients on how to manage and invest money. The advisor works closely with the client to tailor investments and takes into consideration a variety of factors including market outlook, life stage and tax implications. Some personal financial advisors simply make investment recommendations, while others actually buy and sell investment products themselves on behalf of their clients.Financial advisors employ a wide variety of tools to help decide what investments are best for their clients, such as spreadsheets and statistical software. Additionally, many planners spend a good deal of time speaking with industry leaders and fund managers to gain further insight.Job RequirementsMost personal financial advisors have a bachelor’s degree in a related field, such as finance, economics, law or math. Any advisor who directly buys or sells investments must also be licensed. The licenses required vary depending on the type of investments traded, but generally both Series 7 and Series 63 certificates are necessary. Additional certifications are available for those advisors that wish to expand their knowledge and prestige; the Certified Financial Planner (CFP) and Chartered Financial Consultant (ChFC) certifications are common in the industry.SalaryThe average salary for a personal financial advisor is approximately $70,000 annually, according to the Bureau of Labor statistics. However, wages vary widely; the middle fifty percent of advisors earn between $45,000 and $120,000. Many firms pay analysts based on a percentage of clients’ assets under management, so pay can vary by year depending on performance. In addition to the annual salary, advisors generally receive commissions for sales and bonus payments.Job GrowthThere is an increasing demand for personal financial advisors, and the number of jobs in the field is expected to increase by 30% from 2008-2018 due to increasing complexity in the financial markets and an increasingly wealthy population. However, competition for these jobs is fierce; attractive pay and low barriers to entry contribute to the high number of employment candidates in the industry.
