Competitive Advantages of the RRC/CR Designation
Under the framework of previous generations, there were fewer demands and incentives on a financial advisor to elevate themselves to the highest possible educational standard. Those days have long passed. We find ourselves in a regulatory environment that is continuously raising the bar on educational requirements for financial advisors. Also, today’s financial services industry is defined by a simple truth: a highly educated and service-oriented sales force is what separates leaders from the also-rans.
Studies confirm that while a financial advisor may initially recruit clients based on less tangible factors such as rapport and connection, solidifying the relationship and long-term retention of these clients requires a high degree of competence, integrity, knowledge and professionalism. Your long-term success and profitability is inextricably linked to being well-trained and well-educated.
The Registered Retirement Consultant/Conseiller en Retraite and Conseillère en Retraite credential is an affirmation to your clients that you possess the specialized technical knowledge necessary to deliver retirement planning services in a competent, professional manner.
From a company perspective, cultivating an educated advisory team will give your firm the competitive edge to separate itself from its competitors. It will also place your firm ahead of the curve as regulators continue on their inevitable push towards more stringent education requirements for individuals holding out as financial advisors in the years to come.