The FACSC℠ (Financial Advisory Client Service Certificate) and FPQP™ (Financial Paraplanner Qualified Professional) programs are designed for professionals in the financial services industry but serve slightly different purposes and audiences.
FACSC℠ (Financial Advisory Client Service Certificate)
- Focus: This certificate program is tailored specifically for client service professionals who support financial advisors. It enhances skills in client service, improves understanding of financial planning concepts, and helps participants manage client interactions effectively.
- Curriculum: Typically includes training on foundations of investments and asset ownership, basic estate planning, communication skills, understanding basic financial planning concepts, and client relationship management.
- Intended Audience: Client service associates, operations staff or those in similar roles who directly support financial advisors.
FPQP™ (Financial Paraplanner Qualified Professional)
- Focus: The FPQP™ certification is designed to provide you a comprehensive introduction to financial planning. It covers a broader range of topics than the FACSC℠, preparing professionals to assist in the financial planning process.
- Curriculum: Includes subjects like financial planning fundamentals, insurance planning, investment planning, income tax planning, retirement planning, and estate planning.
- Intended Audience: Paraplanners, administrative staff, or anyone involved in the background support and detailed planning processes of financial services.
Key Differences
- Depth of Financial Knowledge: The FPQP™ generally goes deeper into specific areas of financial planning compared to the FACSC℠, which is more focused on client interaction and service.
- Role Preparation: FACSC℠ is more focused on enhancing client service skills, whereas FPQP™ prepares staff to assist in comprehensive financial planning tasks.
- Study Time: The study time for the FACSC℠ is 10-12 hours while the FPQP™️ is a 4- 9 month time commitment.
- Cost: The FACSC℠ costs $349.00 for the program and includes 12-month access to all lessons. The FPQP™️ costs $1300-$1600 including test materials and exam fee.
Both certifications can be valuable depending on the specific roles and career goals of the individuals pursuing them. If your role is more client-service-oriented, the FACSC℠ is more appropriate. If you are involved in the planning and execution of financial strategies the FPQP™ may be preferable.
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