The American College Professional Recertification (CLU, ChFC, Etc.)

[DHK]

https://www.theamericancollege.edu/plan-your-studies/after-your-program/professional-recertification

Let me help you to translate what the REAL intention is behind this program: Designation holders before 2007 were not charged a PACE recertification fee of $250 every two years. Those who earned their designations before 1989 didn't even have to report continuing education units to The American College to renew their designations.

Now... they've changed that. Beginning for 2017, ALL American College designations will be subject to a $125/year annual fee and 30 hours of CE, regardless of when they earned their certification.


They've tasted the money that they can get from their recent designee holders and they want more. At least it's tax-deductible for a business expense and/or reimbursable by most firms/employers.

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Look at the big deal they are placing on "30 hours of CE":




I'm sorry, but I can get 30 hours of CE in 45 minutes. I look for other ways to do REAL learning to enhance my professionalism, rather than regulatory CE courses.

 

[Golfnut2112]

I have both the both the CLU and CHFC and never had someone ask are you a CLU. In matter of fact I never met a prospect who knew what it meant.

I no longer put either destination on my business card because I got tired of explaining to people what they meant. I only use my CFP destination which is a lot more credible especially when working with CPA's and high net worth clients. The American college really did a bad job communicating to the public about the CLU and CHFC, on the other hand I love the CFP commercial with the DJ

 

[xrac]

All it is is a money racket.

 

[DHK]

I don't think the initial education or certification process is a "money racket". Having gone through it, I think it is very worthwhile.

I think the ongoing certification and charging renewal fees for such designations, particularly to those who didn't have to pay them before, and since CE is so easy to do... THAT is the money racket.

 

[DHK]

Just got an email from The American College and there is a key paragraph I hadn't seen before:

Second, instead of $250 paid every other year, the fee will now be $125 annually for client-facing practitioners and $50 annually for non-client-facing practitioners. These funds will support enhanced oversight and required CE reporting, as well as grant you access to The College’s most current educational resources and materials for the designation program(s) you have completed. The College has created a robust suite of online educational resources that will directly benefit program participants.

This was not available before. Before, your courses would phase out after a few months on the Blackboard system and you wouldn't be able to access the course materials anymore. So, this is a decent benefit that wasn't offered before.