Maintaining Your Designation

Transcription

1 Maintaining Your Designation Guide to Continuing Education Units (CEUs) Designed for ACC SM (Accredited Credit Counselor) AFC (Accredited Financial Counselor ) CHC (Certified Housing Counselor) AFCC (Accredited Financial Counselor-Canada) FFC TM (Financial Fitness Coach) APFC TM (Accredited Personal Financial Coach) 1

2 Introduction Welcome to the profession of Personal Finance! Now that you have successfully completed the AFCPE program requirements to become certified education, experience, examination and ethics it is critical to remain informed about changes in the field. To maintain your certification, all certified professionals must adhere to the AFCPE Renewal Process. Renewal requirements begin the year after you are certified. Your Responsibility as a Renewing Certificant will be to: Demonstrate reinforcement and expansion of a full spectrum of personal finance and counseling knowledge and skills Participate in ongoing professional development activities and lifelong learning Engage in continuing education and professional activities that expand learning opportunities and promote competency Record your achievements as they are experienced. Renewal Requirements: 1) Annual Certification Fee Annual certification fees are due January 3 of each year, beginning the year after certification is awarded. A grace period is available until January 31. Late fees will be incurred for each month that an annual certification fee is not paid. After 6 months of late fees (July 31), if the annual certification fee is not paid, then the candidate s certification will be revoked. This payment is completely separate from AFCPE Membership dues. Certificants are encouraged to join Membership for access to professional development training discounts and symposium registration, research journal, quarterly newsletter and many other benefits. 2) Continuing Education Units Professional development is a career-long process. Over the course of a career many changes will occur in a field of study or profession requiring an updating of knowledge and skills. These changes include the introduction of new and varied products and services available in the financial marketplace; as well as changes in laws and technical knowledge related to personal finance and counseling. The purpose of requiring certificants to receive continuing education is threefold: 1) to enhance the individual professional s capacity to serve his or her constituents, 2) to protect the public interest, and 3) to uphold the rigor of the certification programs. To maintain the integrity of the ACC SM, AFC, CHC, AFCC, FFC TM and APFC TM certifications, each designee must meet continuing education requirements. The following pages will outline the reporting requirements, reporting process and the ways for certificants to acquire Continuing Education Units (CEUs). All forms needed to comply with CEU requirements may be accessed through 2

3 Table of Contents Annual Certification Fees...page 4 CEU Reporting Requirements.....page 5 Post Certification Transition Process...page 6 CEU Opportunity Guidelines page 8 Activity Types and Requirements...page 9 Approval Process and Forms... page 11 Reporting/Evaluation Process.. page 12 Certification Reinstatement... page 12 3

4 Annual Certification Fees Annual certification fees, along with other revenue sources, help support the operations and mission of the organization. These non-refundable annual certification fees are due each year, at the start of the new calendar year. All post certification requirements must be met to maintain the designation. Table 1. Annual Certification Fee* Annual Fee AFC CHC ACC FFC APFC AFCC $50 $65 $35 $35 $50 AFCC fees billed and paid through OACCS *Individuals wishing to pre-pay for both years within a reporting period can lock in the current rate (not to exceed 2-year pre-payment) to avoid a potential fee increase. Late Fees Annual certification fees are due on January 3 each year, beginning the year after you are certified. A grace period is available until January 31. Late fees will be incurred for each month that an annual certification fee is not paid. After 6 months of non-payment certification will be revoked. Note: Membership Dues are separate from Annual Certification Fees. 4

5 CEU Reporting Requirements All certified individuals are requested to report their continuing education units (CEUs) on an bi-annual basis, beginning the year after graduation. CEUs completed prior to graduate date will not be approved. The reporting period covers two calendar years. For example, the 2016/2017 post certification reporting period begins January 1, 2016 and ends December 31, CEUs do not carry over to future reporting periods. To maintain the credential, the following hours of acceptable continuing education credits are required for each two-year reporting cycle. ACC hours FFC hours AFC hours AFCC hours APFC hours CHC hours Your Inaugural Reporting Period A person who becomes certified during the first half of the reporting period or the even year, (i.e. 2016) then one-half of your designation s CEUs will be due for your inaugural reporting period. For subsequent reporting periods full CEUs will be required. A person who becomes certified during the second half of the reporting period or the odd year, (i.e. 2017) then no CEUs will be due for your inaugural reporting period. For subsequent reporting periods full CEUs will be required. Table 2 outlines the number of CEUs required for various certification dates during a two year reporting cycle. Table 2. Number of CEUs Required by Date of Certification Certificate CEUs Required Inaugural Reporting Number of CEUs Per Reporting Period Required Period ACC and Certified in even year 7.5 FFC* 15 Certified in odd year 0 AFC, Certified in even year 15 AFCC and 30 APFC** Certified in odd year 0 CHC Certified in even year Certified in odd year 0 CEUs Required in Subsequent Reporting Periods *FFC must have 5 of the 15 CEUs from Financial Coaching **APFC must have 10 of the 30 CEUs from Financial Coaching 5

6 Post Certification Transition Process AFCPE Certified Professionals Obtaining Additional AFCPE Certifications (see table 3) Adding the CHC to an existing AFC certification: If an AFC professional completes the CHC program, s/he will complete the AFC post certification requirements until the following calendar year when the CHC requirements go into effect. Example 1. AFC Robert Brown received his CHC certification on April 3, He is required to earn AFC post certification requirements for 2016, 15 hours, and will begin reporting CHC requirements in 2017, 22.5 hours, for a total of 37.5 hours. In future reporting periods, 45 hours will be required. Example 2. AFC John Smith receives his CHC certification on June 10, He is required to earn AFC post certification requirements for 2016/2017, 30 hours. Starting 2018/2019, John will be required to earn CHC post certification requirements, 45 hours. Adding the FFC certification to an existing ACC, AFC or CHC certification: If an ACC, AFC or CHC professional completes the FFC program in the first year of a reporting period, s/he will be required to receive at least 5 of the CEUs required for their Counseling certification from Financial Coaching topics (ACCs = 5/15, AFCs = 5/30, CHCs = 5/45). If an ACC, AFC or CHC professional completes the FFC program in the second year of a reporting period, s/he will complete the reporting period under their current Counseling program (ACC, AFC, or CHC) post certification requirements and the FFC requirements of 5 CEUs from Financial Coaching topics will go into effect in the next reporting period. Adding the APFC certification to an existing AFC or CHC certification: If an AFC or CHC professional completes the APFC program in the first year of a reporting period, s/he will be required to receive at least 10 of the CEUs required for their Counseling certification from Financial Coaching topics (AFCs = 10/30, CHCs = 10/45). If an AFC or CHC professional completes the APFC program in the second year of a reporting period, s/he will complete the reporting period under their current Counseling program (AFC or CHC) post certification requirements and the APFC requirements of 10 CEUs from Financial Coaching topics will go into effect in the next reporting period. 6

7 Table 3. AFCPE Certified Professionals Obtaining Additional AFCPE Certifications Certificate Date Certified Number of CEUs Required AFC to CHC Obtain CHC First year of reporting period ( even year) 37.5; 45 beginning in subsequent reporting period Second year of reporting period ( odd year) 30; 45 beginning in subsequent reporting period ACC, AFC or CHC to FFC Obtain FFC First year of reporting period ( even year) 15 CEUs for ACC w/ FFC (5 of these in financial coaching topics) 30 CEUs for AFC w/ FFC (5 of these in financial coaching topics) 45 CEUs for CHC w/ffc (5 of these in financial coaching topics) AFC or CHC to APFC Second year of reporting period ( odd year) Obtain APFC First year of reporting period ( even year) ACC w/ffc = 15 CEUs* AFC w/ffc = 30 CEUs* CHC w/ffc = 45 CEUs* *5 of these in financial coaching topics not required until subsequent reporting period. 30 CEUs for AFC w/apfc (10 of these in financial coaching topics) 45 CEUs for CHC w/apfc (10 of these in financial coaching topics) Second year of reporting period ( odd year) AFC w/apfc = 30 CEUs* CHC w/apfc = 45 CEUs* *10 of these in financial coaching topics not required until subsequent reporting period. 7

8 CEU Opportunity Guidelines The purpose of the CEU requirement is to increase the depth or breadth of a certificant s knowledge and skills; as well as enhance ability and expertise to best serve clientele. It is most appropriate for the certificant to attend programs that are designed for financial or counseling professionals. CEU programs must pertain to personal finance subject matter, including: credit tax housing retirement estate planning insurance or budgeting counseling theory behavioral training financial coaching education theory or skill development financial practice/business management What programs are not approved? Programs specific to the operations of one employer, or that fall within one s job description will not be approved. Financial education programs that are designed to teach individuals basic financial literacy skills will not be approved. A general rule is that AFCPE will not approve CEUs for any activity that includes material that is included in the certification program curricula. Additionally, credit would not be given for activities such as reading a publication or taking an exam. Activity Types and Requirements In order to enhance the value of CEUs, certificants are required to earn CEUs from at least 3 different types of activities. Within each activity type, there may be limitations on the number of hours that can be earned. Please review Table 4 for a complete list of CEU activities and allowances. Example 1. Mr. Counselor, an AFC, has attended and received credit for 15 hours of webinar education. The remaining CEUs must be earned from at least two other types of programming (ex: attending a conference, writing a book or journal review, etc.). Generally speaking, 1 CEU is awarded based on depth of content beyond competencies expected from an AFCPE Certificant, as well as the contact hours. CEUs are not provided for attending registration, program introductions, breaks, exhibits or meal functions. 8

9 Table 4. Accepted CEU Activity Types Suggested CEU Type* AFCPE Annual Symposium/Pre-Conference Attendee Presenter Live Stream/Recordings Non-AFCPE conferences or local professional financial training On-the-Job Training Personal finance workplace trainings that enhance knowledge or skills as an AFCPE Certificant (policy and field updates on topics such as credit, debt, retirement, etc.) CEU Credits Allowed 15 CEUs/year 5 CEUs/year Based on available programming Limited to 20 CEUs/reporting period Based on contact hours: maximum 5/year or 10/reporting period first time only Trainings regarding an organization s operations, policies and procedures do not apply. Webinars Participate in web-based financial trainings with instructor Research & Publishing Publish article for AFCPE blog on related financial counseling topic Submission Guidelines Editor Contact: rdeleon@afcpe.org Limited to 15 CEUs/reporting period (approval calculated based on hours and content) Limited to 3 CEUs/article (maximum 6 CEUs per reporting period Publish a newsletter article or book review in AFCPE newsletter Submission Guidelines Editor Contact: ladjill@me.com Limited to 3 CEUs/article (maximum 6 CEUs per reporting period Publish Journal Articles for personal finance, financial counseling/education Submission Guidelines Editor Contact: jfcp.editor@gmail.com AFCPE Member Opportunities AFCPE Journal Reviewer Journal of Financial Counseling & Planning (JFCP) Quiz AFCPE Reviewer (Symposium Submission, Awards, Military Spouse Fellowship Applications, Scholarships) Education College level personal finance, financial counseling/educational course (attending) Self-guided training programs with established coursework that includes a measureable evaluation of comprehension and continued learning Instruction Lead an AFCPE webinar session on a financial topic (develop and present) Develop new financial education curriculum Limited to 6 CEUs/article (maximum 12 CEUs per reporting period) Limited to 3 CEUs/year; (limited to 6 CEUs per reporting period) Limited to 2 CEUs/quiz; (limited to 8 CEUs per reporting period) Limited to 2 CEUs/review; (limited to 8 CEUs per reporting period) Limited to 10 hours/course; (limited to 20 CEUs per reporting period) Limited to 5 CEUs with confirmation of successful completion; (limited to 10 CEUs per reporting period) Limited to 15 CEUs/reporting period Limited to 15 CEUs/reporting period 9

10 Teaching a new personal finance or Limited to 15 CEUs/reporting period financial counseling course or workshop (not within job description) Ethics Ethics/Practice Standards training Limited to 10 CEUs/reporting period Professional Designation AFCPE Certifications ACC to AFC - 5 CEUs in year of completion AFC to CHC - 5 CEUs in year of completion FFC - 5 CEUs in year of completion APFC - 10 CEUs in year of completion Outside Professional Designations AFCPE Certification to CFP, ChFC, CPA, CFA 10 CEUs in year of completion *Rigor is determined by the breadth and depth of the program material, to ensure its enhancement to the counselor s financial knowledge and skills. 10

11 Approval Process & Forms Approval Forms: Forms can be accessed through your AFCPE login: my.afcpe.org. CEU approval forms are not required until after certification is completed and official. Individuals may submit approval forms before or after the requested program. All approvals require proof of participation for CEU credit. Please use separate approval forms for each program. Individual Approval Process: 1) Individuals should request CEUs through the online Individual CEU Form found within your MyAFCPE login. 2) AFCPE will review each request and respond with acceptance or denial of CEUs via within 5-7 business days. It is the responsibility of the certificant to retain a copy of the request and response for his/her files. 3) If a certificant receives pre-approval for a program, verification of participation must be submitted to receive CEUs. CEU approval requests must be submitted within six (6) months of program completion. If you are submitting for attending a conference that is not pre-approved you will need to submit the conference agenda and list out each session you will be attending. Group Approval Process: 1) If several AFCPE certified individuals plan to attend an event, a group representative may submit the online Group CEU Approval Form and a detailed program agenda. The form is available within your MyAFCPE login. 2) AFCPE will review the request, assign a number of CEU credits and forward a CEU confirmation . 3) Following the conference or workshop, each of the individual certificants (with proof of participation) is responsible to submit an Individual CEU Form. The group representative is responsible for providing attendees with proof of participation and the attendee will be responsible for completing the Individual CEU Form. What is acceptable proof of participation? Code phrase, a certificate, test score submissions, confirmation of completion from host, or other confirmations of participation The Individual CEU Form can be used for pre-approval. Continuing Education Library Listing: Groups looking for increased participation may request to promote their approved session on our Continuing Education Library webpage and through social media and . Forms are available on the AFCPE website or within your MyAFCPE login. Current rates will apply. CEU Questions? AFCPE provides a dedicated to support this process. Questions about CEUs and submission of CEU requests may be sent to ceu@afcpe.org. 11

12 Reporting and Evaluation Process Throughout each reporting period, quarterly reports will be sent via to each certified professional for the current reporting period. The report includes a summary of the CEU records AFCPE has on file for the certificant. Audits The AFCPE office may randomly select CEU reports for audit each reporting period. An audited certificant will be asked to submit proof of attendance and the CEU approval form or notice provided by the AFPCE office if pre-approval was requested and granted. Certificants are required to keep proper records and documentation. Please refer to page 54 of the AFC Policy Manual for more information on AFCPE s Audit process. Certification Reinstatement A viable certification program requires the certificant to keep abreast of developments in the subject matter and practice of the specialty. AFCPE requires its certificants to acquire appropriate continuing education units and to report these to the national office on a bi-annual basis. After a period of two years, or one reporting CEU cycle, in which a certificant fails to maintain the AFC credential, an individual's status is listed as "lapsed for a maximum period of six months with approved extension application. A certificant must pay reinstatement fees and obtain the required number of continuing education units in order to reinstate the AFC credential within the extension period. If the certificant does not comply with the reinstatement requirements within the maximum period of six months, the Council will revoke the AFC credential. Subsequent to revocation, an individual who wishes to regain active AFC status must meet the eligibility requirements currently applicable for initial certification and retake the examination. Unsupported, misstated or fraudulent reporting of CEUs is a violation of AFCPE's Code of Ethics and may result in disciplinary action up to revocation of the certification. 12