Cygnet Institute has been designated by CEFEX, the Centre for Fiduciary Excellence as a nonprofit Investment Support Services (ISS) provider for plan sponsors and plan participants to educate adults in economic matters, advance their financial literacy and enhance their ability to make good financial decisions in self-directed retirement plans and non-retirement accounts. For more information click the seal or go to www.CEFEX.org.
LQFM℠ and LQFA℠ Program Details
The Lifestyle Quality Financial Management℠ (LQFM℠) and Lifestyle Quality Financial Advisor℠ (LQFA℠) training programs are created and administered by Cygnet Institute of Personal Financial Literacy, a 501(c)(3) nonprofit organization and available from Cygnet’s partner Rochester Christian University.
Terminal Learning Objective is to train veterans to get certified as Lifestyle Quality Financial Advisors℠ to provide fee-based retirement planning to households and serve low to moderate income communities through educational workshops at public libraries.
Please review the training activities overview below to get an idea of how this program may work for you.
Training Activities Overview
Activity #1 – Teach students the skills and behaviors needed to successfully guide clients through the Cygnet Process and attain LQFM℠ certification. (3 months)
Activity #2a – Complete the study and acquisition of knowledge regarding the retirement planning needs of clients in both the accumulation and distribution phases and attain LQFA℠ certification. (18 months)
Activity #2b – Upon successful completion of the LQFM℠ program and while studying for the LQFA℠ certificate, each student will partner with an experienced Certified Retirement Counselor® to get experience processing at least 10 clients through the 4-stage Cygnet Process.
Activity #3 – Using the FDIC Money Smart program designed by the Small Business Administration for small business, students will receive practical business development training to prepare them to build and grow a fee-based retirement counseling and fiduciary practice.
Details of Activities
Activity #1 (3 Months): LQFM℠ Certificate – Mastering the Experiential Cygnet Process℠
This activity trains students in the use of the Cygnet Cash Flow Planning Process℠ — a structured, 4-step experiential planning framework that has helped thousands of households since 1989.
Students are trained to guide clients through:
Upon successful completion of Stage 1, participants are certified as Lifestyle Quality Financial Managers℠ (LQFM℠) professionals.
Activity #2a (18 Months): LQFA℠ Certificate – Advanced Technical Retirement Training About Retirement
Students are taught the technical foundation required to serve clients as retirement specialists. The LQFA℠ study material utilizes the Certified Retirement Counselor® (CRC®) curriculum which was developed by the International Foundation for Retirement Education (InFRE®) https://www.infre.org. This was done over a two-year period in accordance with the academic guidance of the Center for Financial Responsibility at Texas Tech University.
InFRE® is a 501(c)(3) nonprofit education foundation devoted to improving retirement readiness in the United States. Since its creation in 1997, InFRE® and the CRC® program have enjoyed the support of the National Association of Government Defined Contribution Administrators (NAGDCA) www.nagdca.org and the National Pension Education Association (NPEA) www.npea.com.
The CRC® curriculum – licensed by Cygnet to use in the LQFA℠ training program – consists of five structured study areas:
Successful completion of the LQFA℠ curriculum also prepares students who meet the InFRE® eligibility requirements to sit for the Certified Retirement Counselor® examination and receive the CRC® designation.
CRC® eligibility includes either:
Bachelor’s degree (or higher) from an accredited institution AND two years of relevant retirement-related professional experience within the last five years
OR
High school diploma (or equivalent) AND five years of relevant retirement-related professional experience within the last seven years.
ACTIVITY 2b (concurrent with LQFA℠ training)
Upon successful completion of the LQFM℠ program and while studying for the LQFA℠ certificate, each student will partner with an experienced Certified Retirement Counselor® (CRC®) to get experience processing at least 10 clients through the 4-stage Cygnet Process. The CRC® will take the lead role in the first few meetings. Acting as a mentor the CRC® will use these meetings as opportunities to explain to the student the rationale behind the interaction with client. The CRC® will push the student to play an increasing role in meetings using the coaching model as a guide. The CRC® will be present in all meetings to ensure that the Cygnet Process is correctly executed.
Activity #3 (3 Months): Establishing a Fee-Based Retirement Planning Practice
Stage 3 focuses on building and sustaining a professional retirement counseling practice.
Training is built around the 13 Modules of the Money Smart for Small Business (MSSB) curriculum developed jointly by the U.S. Small Business Administration (SBA) and the Federal Deposit Insurance Corporation (FDIC).
Program information: https://www.fdic.gov/consumer-resource-center/money-smart-small-business
Instructors will be selected with expertise in the relevant module. The instructor-led MSSB curriculum includes the following 13 modules:
If you see this program as a potential opportunity to build a career as a fee-based Lifestyle Quality Financial Advisor℠ (not commission sales), we will need some information about you. Click HERE to go to the form.
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