Not ANOTHER designation! NACFF? Ugh!

[Markthebroker]

For me personally, my business is 100% referral. All my sales today are leveraged off of trust and reputation. I have several clients that don't understand, or care who they are insured with. They just know I have their back, and that's enough. The designations would not help me in any way.

But that's just me and how I sell commercial p&c. I suspect it could be very different for someone else.

 

[shonceman]

Maybe.

In final expense, it won't matter one bit.

In retirement income planning using AUM and/or annuities... it may inspire a bit more trust if they don't initially trust you, or they're just doing a "due diligence" advisor questionnaire.

I agree that in FE it won't matter much. But it may matter at least "one bit". Honestly, I don't have any letters beyond the LUTCF. But I'm positive that it helps in certain competitive situations. In my initial presentation I point to that and talk about my years in the business to demonstrate my commitment to being their agent for the long haul. The young kid who's trying to replace me may be equally committed to the long haul, but with only a year or two in the business (and no letters), he's at a definite disadvantage.

 

[DHK]

Designations play a bigger role in life insurance, investments, and financial planning in general. If one is doing seminar marketing or other ways to promote themselves to people they don't know, it *could* make a slight difference.

P&C primarily has the CPCU... but I've never seen a big push for agents to get it.

 

[Kongerup]

Just opened up my issue of InsuranceNewsNet magazine for December... and I find this little "gem":

NACFF

"Be a CERTIFIED financial fiduciary!" Until January 1st, 2019, you can take their course for only $99 (saving $1,600 or so).

National Association of Certified Financial Fiduciaries

Be Fiduciary Training – Don't Just Say You're Fiduciary-Be Fiduciary.

CFF | FINRA.org

Either you are a person whom people can trust, or you're not. If people are asking you "are you a fiduciary?" it's probably because they don't trust you yet, you haven't demonstrated that you're worthy of trust, or they're reading a publication that told them to ask the question.

Just another money-grab by people who see a "credentialing" opportunity.

If you want a fiduciary designation, there is AIF, RF, and others. I'm just tired of seeing other new associations "pop up" ready to offer a new set of letters for advisors to promote themselves to "earn trust" because of "your letters".

Just getting tired of this game.

Is any of the training provided of any value? If so, $99 isn't so bad. I am looking to obtain my ChFC in 2019.

 

[DHK]

I wouldn't know. $99 wouldn't be bad (compared to their $1600 pricing)... but it's brand new, so who knows? However, it should cover fiduciary duty in clear detail so the agent/advisor/producer knows exactly the standard they are assuming to the public - because they'll be held liable to that standard.

I have ChFC and it's credible and foundational for this career. If you haven't checked out www.bigdaddyu.com - Scott Wasserman's online lectures for each course helped me immensely for my ChFC studies.

 

[Kongerup]

I wouldn't know. $99 wouldn't be bad (compared to their $1600 pricing)... but it's brand new, so who knows? However, it should cover fiduciary duty in clear detail so the agent/advisor/producer knows exactly the standard they are assuming to the public - because they'll be held liable to that standard.

I have ChFC and it's credible and foundational for this career. If you haven't checked out www.bigdaddyu.com - Scott Wasserman's online lectures for each course helped me immensely for my ChFC studies.

Thanks DHK!