Definitions of Professional Designations

  • AEP® — Accredited Estate Planner®
    • A professional designation conferred by the National Association of Estate Planners & Councils (NAEPC) in partnership with the American College of Financial Services. It signifies that the holder is committed to a team-oriented approach to estate planning and has met special requirements of education, experience, knowledge, professional reputation, and character. The AEP® designation is available to those already holding one or more of several professional credentials (including but not limited to attorneys, CPAs, and CFPs) who devote at least one third of their time to the practice of estate planning, who have a minimum of five years’ experience in the fields of law, accounting, financial planning, insurance, philanthropy, or trust services, and who have provided three professional references from colleagues who have collaborated with the applicant in the provision of estate planning services. Those with less than 15 years of experience are also required to successfully complete two graduate courses provided by the American College of Financial Services before the AEP® designation will be awarded.

 

  • Attorney
    • A legal professional trained and licensed to provide legal advice and representation to clients in connection with all manner of legal matters, including personal or commercial transactions and civil or criminal proceedings. Attorneys that are members of the NWEPC will be licensed by the Washington State Bar Association to practice law in the State of Washington and be actively engaged in estate planning and related legal fields such as probate and trust administration, guardianship/conservatorship proceedings, and “elder law” issues such as long-term care planning and Medicaid qualification.

 

  • Associate Member
    • Associate Members of the NWEPC are individuals who do not currently hold one of the professional designations necessary to be admitted as a Regular Member of the NWEPC. Associate Members attend and participate in the general membership meetings of the NWEPC but are not able to participate in NWEPC governance directly (for example, they may not serve on the NWEPC Board of Directors). An Associate Member of the NWEPC will be an individual whose inclusion in the NWEPC is deemed, in the judgment of the NWEPC Board of Directors, to be consistent with the NWEPC’s mission and to enhance the overall membership body. They are often directly involved in the provision of estate planning services (for example, an accountant who has not yet earned the CPA designation, or a high-level officer of a nonprofit who is not an executive director). 

  

  • CFP® — Certified Financial Planner®
    • Those with the CFP® designation have demonstrated competency in all areas of financial planning. Candidates complete studies on dozens of topics, including stocks, bonds, taxes, insurance, retirement planning, and estate planning. The program is administered by the Certified Financial Planner Board of Standards, Inc. In addition to passing the CFP® certification exam, candidates must also complete qualifying work experience and agree to adhere to the CFP Board's Code of Ethics and Standards of Conduct which sets high standards for professional responsibility and competency.

 

  • ChFC® — Chartered Financial Consultant®
    • A professional designation conferred by the American College of Financial Services which signifies comprehensive education in the essential aspects of financial planning, including insurance, taxation, retirement, and estate planning. The ChFC® designation is available to financial professionals with three years of experience in financial planning and awarded upon successful completion of eight required courses and a final exam.

 

  • CLTC® — Certification in Long-Term Care
    • A professional designation conferred by The CLTC Board of Standards, Inc. which indicates that the holder has completed a course of study focusing on the subject of longevity and its consequences on their client's family and finances. Holding a CLTC® signifies that a planning professional is current in the complexities of long-term care, insurance, retirement, and end of life planning. Maintaining the CLTC® designation requires all designees to meet an ongoing continuing education requirement every two years.

 

  • CLU® — Chartered Life Underwriter®
    • A professional designation conferred by the American College of Financial Services which signifies expertise in life insurance planning, including an in-depth understanding of the practical, legal, and ethical aspects of life insurance underwriting. The CLU® designation is available to financial professionals with three years of experience in financial planning and awarded upon successful completion of five required courses and a final exam.

 

  • CPA — Certified Public Accountant
    • An accounting professional trained and licensed to provide advice on issues of tax and financial planning. CPAs provide accounting services to individuals, businesses, nonprofits and government entities. Licensing of CPAs in Washington is governed by the Washington State Board of Accountancy. A Washington CPA will have passed the Uniform CPA Examination and met other rigorous educational and experience requirements. CPAs that are members of the NWEPC will be licensed in Washington and be actively practicing estate planning or matters directly related to estate planning.

 

  • CTFA — Certified Trust and Fiduciary Advisor
    • A professional designation conferred by the American Bankers Association (ABA) which signifies that the holder has demonstrated expertise in the trust and financial advising profession. To receive the designation, candidates must have a minimum level of wealth management work experience, complete approved training programs, and pass an examination. Continuing education (CE) is also needed to maintain the CTFA designation.

 

  • Executive Director of a Qualified Charity
    • An Executive Director of a Qualified Charity serves as the chief executive of a nonprofit organization which qualifies for tax-exempt status under IRS rules. An executive director is responsible for the oversight and coordination of a nonprofit’s operations, typically with an eye to achieving strategic goals as set by a nonprofit’s board of directors. The professional qualifications of an executive director will vary, but commonly include a bachelor’s degree or higher academic degree and significant senior management experience whether in the for profit or nonprofit sectors. Executive directors that are members of the NWEPC will be leaders of various public and private nonprofit organizations local to Whatcom, Skagit, Island, or San Juan Counties.

 

  • RHU® — Registered Health Underwriter®
    • A professional designation conferred by the American College of Financial Services to individuals who pass examinations testing expertise in group insurance benefits and health insurance for individuals and families. On January 1, 2017, this designation was acquired by The National Association of Benefits and Insurance Professionals (NABIP) and is no longer available for new students. The RHU® designation will continue to be honored by NABIP and professionals are expected to maintain their designation with NABIP every 24 months with approved Continuing Professional Credits (CPCs) and a bi-annual fee.