Will you learn something?  If the educational program is good, it may be worthwhile.  Whether it's a real designation or a Mickey Mouse designation, your clients won't know the difference.  The proliferation of designations cuts both ways.  With certain clients, one can have a "bogus designation" and look impressive or all of the designations can make a real designation  like CFP look completely meaningless since it is just one of hundreds of designations.

People who work hard in this business make a lot of money and help a lot of people. Successful people would never take the time to “earn” a designation, in order to “appear” successful. Lazy people, on the other hand, are looking for a shortcut from hard work, and think that a few letters after their name will help them.

Bump…any other thoughts on the CRPS / rookies getting designations / additional training?

CRPS = Another meaningless, masturbatory designation for those who would rather study than prospect.

[quote=RealityBichslap]CRPS = Another meaningless, masturbatory designation for those who would rather study than prospect.[/quote]

Amen.

[quote=RealityBichslap]CRPS = Another meaningless, masturbatory designation for those who would rather study than prospect.[/quote]

What others would you include in that definition?

[quote=xfjoker]

Smith Barney recently started encouraging their FA's to get the CRPS (Chartered Retirement Plans Specialist) designation.  It is the only designation that SB actively promotes along side of the CFP.

[/quote]

Yes, they are encouraging you to take time out of your schedule to earn a designation for which they will partially reimburse you. If they really wanted to encourage, they would pay a bonus if you earned it.

[quote=RealityBichslap]CRPS = Another meaningless, masturbatory designation for those who would rather study than prospect.

Amen.[/quote]

From the keyboards of Dumb and Dumber.  It may be a junk designation and it may not...I don't know.  What I do know is that I wouldn't put much stock in those two opinions.

[quote=knucklehead][quote=RealityBichslap]CRPS = Another meaningless, masturbatory designation for those who would rather study than prospect.

Amen.[/quote]

From the keyboards of Dumb and Dumber.  It may be a junk designation and it may not...I don't know.  What I do know is that I wouldn't put much stock in those two opinions.

[/quote]

Thanks for chiming in, Dumbest.

Don’t mention it…

Wow.  And I mean wow.  I received my CRPS books today and there are 11 books averaging approx 110 pages per book.  Very detailed modules.  To be honest it is more than I was expecting.  I wanted to blow through this in 2 weeks but it will probably take me a legitimate 80-100 hours (what they recommend). 

I am glad I signed up for this - I am going to learn alot about retirement plans.  Let me know if anyone has any questions on this.  (It is focused purely on retirement plans/implementation/design/etc).

Last weekend I started a separate thread, under "General" topics, that talked about the different designations of the "Top 100 Wealth Advisors" in Worth Magazine.

With this discussion of the CRPS designation, I went back to check the "Top Advisor" list to see if any of the advisors carried that designation. None of the "Top 100" carried the CRPS designation.

(Note: I'm not familiar with the study materials of the CRPS designation, so I won't offer an opinion as to whether it merits the effort to earn the designation. However, given the respect I have for SB, I would hardly think they'd waste the time of an FA requiring them to earn a worthless degree.) 

Think again.

If you are just looking for the letters after your name , it is a "proctored" test and you get to pick the "proctor".  If you take the time to learn the material - you will know more about retirement plans than 80% of the RRs out there.  At a company like SB you probably have a whole department that will help you with plan design etc.  Just get the appointment and bring in the team in to design the plan.

Having said that - the 401(k) business is such a long process (with low comp.) - you will starve if that is your main focus.  It takes as much time and effort to land a start up as it does for a $10mm plan.

my .02

Gosh. That's really neat. I'm sure this task will be much more pleasurable than doing something dirty like prospecting and making money. 

What designation will you chase next so as to avoid public contact?

[quote=xfjoker]

Wow.  And I mean wow.  I received my CRPS books today and there are 11 books averaging approx 110 pages per book.  Very detailed modules.  To be honest it is more than I was expecting.  I wanted to blow through this in 2 weeks but it will probably take me a legitimate 80-100 hours (what they recommend). 

I am glad I signed up for this - I am going to learn alot about retirement plans.  Let me know if anyone has any questions on this.  (It is focused purely on retirement plans/implementation/design/etc).

He's got a point.  Use that 80 -100 hours to prospect and use the strengths of your firm for the technical needs of building a plan.  

If your a rookie nothing will make you better than going out and learning by doing.  Get the CRPS after you are a successful producer.

There's no reason that you can't study from 9-11 each evening...and no reason you can't learn while you're building your business.  You might think of something to share while you're speaking to prospects that you would otherwise be clueless about...and you might even come off as an intelligent advisor rather than just another sales person.

 I am starting a new job as an advisor with USAA next week. I will start studying for the CRPS as well. Let me know how it is going. Good luck.

[quote=Cruiser] I am starting a new job as an advisor with USAA next week. I will start studying for the CRPS as well. Let me know how it is going. Good luck.[/quote]

If you are working for USAA you are not an advisor, you are an order taker with a license.

Good luck.  I hear the food in the cafeteria is pretty good.