RHU Designation Ending, Why?

[DHK]

The American College is the career agency industry "go to". Check with any career agency, and you'll see quite a few agents with TAC designations, as well as CFP.

A very small minority of insurance agents will ever pursue CFA or CIMA though.

 

[yellowbirdnj]

The American College is the career agency industry "go to". Check with any career agency, and you'll see quite a few agents with TAC designations, as well as CFP.

A very small minority of insurance agents will ever pursue CFA or CIMA though.

You have to be careful to not talk from your own perspective, the American College of Financial Services is for the insurance/financial industry. If I was going to be a financial planner, I would pursue the CFP from a local trainer or the College of Financial Planning. If I was in the health insurance profession, I would want the HIA from AHIP over the RHU or ChHC from the American College.

 

[DHK]

There aren't too many people at wire houses (Merrill Lynch, Morgan Stanley, UBS, and Wells Fargo Advisors, etc.) who are pursuing CLU, ChFC or other designations from The American College. For them, it has been the CFP, CFA, CIMA, and some of the designations from the College for Financial Planning, such as CRPC.

The only reason the ChFC is gaining more ground... is because the CFP Board is fouling a lot of crap up in their desire to become a quasi-SRO for the "financial planning industry".

Remember, it used to be "The American College of CLU" back in 1927. They have tried to evolve to meet the needs of an evolving industry to include securities and other such planning disciplines.

When I said that The American College is primarily for career insurance agents... I meant it.

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So... why did you start the topic if you already knew you weren't interested in obtaining the RHU designation yourself?

 

[yellowbirdnj]

No, I'm just curious about the reasons for elimination the RHU. I noticed that they just did the same thing for the LUTCF. Both designations are tied to organizations outside of the American College.

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There aren't too many people at wire houses (Merrill Lynch, Morgan Stanley, UBS, and Wells Fargo Advisors, etc.) who are pursuing CLU, ChFC or other designations from The American College. For them, it has been the CFP, CFA, CIMA, and some of the designations from the College for Financial Planning, such as CRPC.

The only reason the ChFC is gaining more ground... is because the CFP Board is fouling a lot of crap up in their desire to become a quasi-SRO for the "financial planning industry".

Remember, it used to be "The American College of CLU" back in 1927. They have tried to evolve to meet the needs of an evolving industry to include securities and other such planning disciplines.

When I said that The American College is primarily for career insurance agents... I meant it.

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So... why did you start the topic if you already knew you weren't interested in obtaining the RHU designation yourself?

When you say career agent, what I'm saying is that you are talking from your own perspective. A career agent could easily be working in a State Farm or Alstate office and thus would more likely pursue the CPCU designation.

 

[DHK]

That may be true for the CPCU - probably more so for Allstate than State Farm. State Farm agents are encouraged (if not required) to pursue securities licensing as well as Life/Health.

Since State Farm also sponsors the "Women's Center" with TAC, I think there's an emphasis on TAC designations. I bet many of them are encouraged to take the (old) LUTCF, now FSCP courses - particularly the class in Multiline insurance sales.

The American College - Women's Center

When I was involved with a NAIFA YAT team, aside from the many NYL agents, we had a lot of State Farm agents. The meetings were actually held at a State Farm training office and I think the NAIFA local chapter president was also with State Farm. It may have been an anomaly, but there was quite a bit of focus on LUTCF at that time for them.

I agree that I talk from my experience. It's just that my experience is rather broad.

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Oh, and Scott Wasserman, who produces DVD study aids for CLU, ChFC, CASL, and CPCU... is also a State Farm agent.

New Study Materials for the CLU® and ChFC® Designations

 

[VolAgent]

DHK, I would say you are spot on. I never joined NAIFA, but I understand that State Farm was very active, probably just as active as NYL, NWM and Mass Mutual. I have also encountered more than a few State Farm agents with the LUTCF designation. I'm sure this isn't all just a coincidence. In fact, State Farm even hired away a sales manager from NWM to be a recruiter for them.

 

[yellowbirdnj]

DHK, I would say you are spot on. I never joined NAIFA, but I understand that State Farm was very active, probably just as active as NYL, NWM and Mass Mutual. I have also encountered more than a few State Farm agents with the LUTCF designation. I'm sure this isn't all just a coincidence. In fact, State Farm even hired away a sales manager from NWM to be a recruiter for them.

State Farm sells huge amounts of life. They are constantly referenced in sales seminars.