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Loren Sherman · Designations
“I love to learn—whether it’s from reading books, participating in study groups, completing financial designations, or attending financial planning conferences, I’m always striving to get better.”
The designations
What every letter after Loren’s name stands for, and why it matters to the people he serves.
CFP Board founded 1985
01CFP®
The CFP® designation is thought of by many as the pinnacle for comprehensive financial planning. Founded in 1985, the CFP Board has high standards for education, experience, and ethics. In addition, it is one of the most difficult certifications to get with its rigorous testing and ongoing accountability.
Founded 2013
02RICP®
Founded in 2013, The American College of Financial Services states:
“The RICP® designation equips advisors with the knowledge to effectively manage the transition from asset accumulation during a client’s working years to asset decumulation in retirement. RICP® enables the advisor to demonstrate tremendous value by delivering smart strategies for creating secure, sustainable income for a client’s retirement.”
Founded 2003
03AIF®
Founded in 2003, the AIF® designation is intended to help guide advisors with the industry’s best practices and holds the advisor to a higher standard than someone simply “giving advice”.
Created 1997
04CRC®
Created in 1997, the CRC® prepares the advisor to help clients with a variety of retirement plans, from the 401(k), SEP, SIMPLE, Keogh plans and much more.
The CRC® is a 5-part course covering retirement planning, investment concepts, retirement plan design, retirement income management, and last, retirement counseling and education. This curriculum offers advisors expertise with each aspect of helping a client prepare for and manage their retirement.
Developed 2007
05CKA®
Developed in 2007, the CKA® sets out to help advisors bring biblical practices into their financial planning advice. As the Kingdom Advisors organization states:
“Every individual seeking a financial advisor in any discipline looks for someone who is competent, performs their work with excellence, evidences humility and integrity, and seeks to advance the client’s interests first and foremost. Many advisors, whether a Certified Kingdom Advisor or not, can meet these requirements. What is the difference in a Certified Kingdom Advisor? God’s Word says, ‘The mind of man plans his way but the Lord directs his steps’ (Proverbs 16:9).”
Investment planning
06WMCP®
The WMCP® designation takes a deep dive into tailored solutions for client goals that is modern, relevant, and caters to specific investors. It’s designed to help advisors develop sophisticated investment plans tailored to the needs of individuals, specifically with a focus on tax-efficient portfolio strategies integrated with the newest behavioral research.
In a practical sense, WMCP® helps advisors transform modern investment theory and apply these principles into a working financial plan for clients.
Also on Loren’s list
Digital assets
07CBDA
This designation provides advisors with the knowledge and tools to help investors who wish to further diversify their portfolio with blockchain technology, bitcoin, Ethereum, Central Bank Digital Currencies, Decentralized Finance (DeFi), Non-Fungible Tokens and more. While these assets typically involve just 5% or less of a recommended portfolio, they can serve as non-correlated assets, and are a unique asset class that has a growing use case.
“The mind of man plans his way but the Lord directs his steps.”
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