This program has come along at the right time as the first wave of Baby Boomers are now reaching sixty this year. Millions of baby boomers and recently retired need the specialized expertise of a retirement income advisor. A change of focus from accumulation strategies to income strategies is needed in the financial planning world.
The RIIA program is called Delivering Retirement Income Solutions and is an “overview of the key risks and issues retirees face and provides guidance to help advisors uncover client needs so they can deliver the right investment and risk management solutions.” This program will be the first in a series focused on accrediting advisors with an Industry Designation called “Retirement Income Specialists” (RIS).
Gazing into my crystal ball I can see this new RIS designation becoming as important and well known among the general public as the CFP designation. The first tier of Baby Boomers to retire will start in the next 2-5 years and cascade for 18 years as all Baby Boomers retire. I’m sure many advisors will want the knowledge the RIS designation gives them and the legitimacy.
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