A new study focuses on the savings rate that people in a workplace retirement savings plan need in order to achieve a more secure retirement.
By Cyril Tuohy
The National Association of Insurance and Financial Advisors (NAIFA) and the College for Financial Planning (CFFP) have announced the formation of a 10-member advisory panel to oversee the re-launch of the Life Underwriter Training Council Fellow (LUTCF) designation.
The LUTCF program will be re-launched July 2015.
“We look forward to their advice and direction as NAIFA and the CFFP prepare to launch this dynamic and innovative curriculum for financial professionals,” John F. Nichols, NAIFA president, said in a news release.
Serving on the panel are Thomas D. Currey, NAIFA past present and president of TDC Financial Services in Grand Prairie, Texas; Tommy Doolittle, director of agency administration for the Southern Farm Bureau in Jackson, Miss.; Jimmy King, manager of training and career development with Southern Farm Bureau in Jackson; David Dougall, manager of internal sales support with State Farm in Bloomington, Ill.; William T. Free, a financial representative with Northwestern Mutual Life in Fairfax, Va.; Matthew S. Huntington, a NAIFA trustee and president of the Matthew S. Huntington Insurance Agency Inc. in Aurora, Colo.; Shawn Jeanes, president of Designs in Life Insurance Marketing in Atascadero, Calif., and a principal of Insurance Designers of America; Jennifer Johnson, director of practice development with the Sales Institute at MetLife in Charlotte, N.C.; Cammie K. Scott, a member of the NAIFA member benefits committee and president of CK Harp & Associates in Springdale, Ark., and John W. Wheeler Jr., executive vice president of Water Tower Financial Partners in Chicago.
Six of the 10 members have an LUTCF designation, NAIFA said.
In September, after The American College announced without warning that it would replace the LUTCF with the Financial Services Certified Professional (FSCP) designation, NAIFA was left searching for a school to teach courses toward the LUTCF designation.
A deal with the CFFP was announced in February and financial advisors will have the opportunity to learn more about the retooled LUTCF program at NAIFA’s 125th anniversary in September.
“LUTCF is part of our roots so we are making a major statement to the industry that our roots remain strong and we continue to have impact on our members,” Nichols said, in an interview with InsuranceNewsNet earlier this year. “The ultimate winner is the consumer.”
The LUTCF partnership between NAIFA and The American College will end in July 2015, at which point LUTCF courses offered by the CFFP will begin.
The American College will honor the LUTCF coursework of professionals working toward the LUTCF designation through July 1, 2015. Advisors who have begun LUTCF coursework with The American College can finish the requirements and earn the designation through The American College as long as they do so by July 1, 2015, NAIFA said.
Cyril Tuohy is a writer based in Pennsylvania. He has covered the financial services industry for more than 15 years. Cyril may be reached at firstname.lastname@example.org.
© Entire contents copyright 2014 by InsuranceNewsNet.com Inc. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.com.