Course Overview:
The Guide to Social Security and Ethical Practices is a comprehensive 12-hour continuing education (CE) course specifically designed for Registered Investment Advisers (IARs). This course is approved to meet all 12 hours of the mandatory IAR CE requirements, consisting of 6 hours in Products and Practices and 6 hours in Ethics and Professional Responsibility. Divided into two sections, the course offers in-depth knowledge of Social Security strategies to better serve clients in retirement planning, while also reinforcing ethical practices necessary for maintaining professionalism and compliance within the financial services industry.
- Section I: Social Security provides detailed insights into the complexities of Social Security benefits, eligibility, and claiming strategies, equipping advisers to guide clients through maximizing retirement benefits.
- Section II: Ethical Practices emphasizes ethical standards, fiduciary responsibilities, regulatory compliance, and how to apply ethical decision-making frameworks in daily advisory practices.
This course ensures that IARs are well-versed in both the technical knowledge of Social Security and the ethical principles required to uphold their professional responsibilities.
Learning Objectives (Based on Bloom's Taxonomy)
Section I: Social Security (6 Hours of Products and Practices)
- Identify the key eligibility requirements and benefit calculation methods under Social Security.
- Explain how factors such as the Full Retirement Age (FRA) and Delayed Retirement Credits affect the total benefit amount.
- Apply Social Security claiming strategies to optimize retirement income for clients with different financial backgrounds.
- Analyze various scenarios where early or delayed benefit claiming impacts a client's long-term financial plan.
- Evaluate the benefits and drawbacks of specific Social Security strategies, such as spousal benefits or restricted applications, to determine the most suitable approach for clients.
- Design a comprehensive Social Security plan that integrates a client's financial goals, retirement age, and other income sources to maximize lifetime benefits.
- Identify the regulatory bodies that govern Registered Investment Advisers, such as the SEC and FINRA.
- Explain the fiduciary duty IARs owe to their clients and how ethical principles, such as integrity and transparency, guide advisory services.
- Apply ethical decision-making frameworks to resolve conflicts of interest and ensure that client recommendations adhere to best interest standards.
- Analyze case studies where ethical dilemmas arise, such as situations involving misleading advertising or undisclosed conflicts, and determine the correct course of action.
- Evaluate a client's financial situation and proposed strategies to ensure recommendations align with both ethical obligations and regulatory compliance.
- Develop an internal code of ethics for an advisory firm that addresses ethical responsibilities, disclosure practices, and the prevention of misconduct.
This course equips IARs with the critical tools needed to provide expert advice on Social Security while upholding the highest ethical standards in their professional conduct. By completing this course, advisers will meet their CE requirements and enhance their ability to serve clients with knowledge, integrity, and compliance.