What is the Registered Fiduciary™ (RF™) Certification?The Registered Fiduciary™ (RF™) certification identifies financial professionals that have achieved pertinent academic qualifications and licenses, learned required practices, and have passed a background check.
The RF™ certification prepares a candidate to comply with the regulatory requirements of acting as a fiduciary under current laws. The RF™ certification is continuously being updated to reflect the most recent regulatory, marketplace and technology changes.
This fiduciary standard distinguishes RF™ designated professionals as having met the highest standard in the financial industry. All valid certified RF™ are listed on the Registry of Fiduciary Professionals. RF™ certifications are further defined by specialties. Each designee has one or more specialties that identify the services that he/she is qualified to provide. Specialties currently include:
- RF™ – General Practitioner
- RF™ – Financial Planner
- RF™ – 401(k) Plan Adviser
- RF™ – 401(k) Participant Adviser (Replaces designation in the FAN program
- RF™ – IRA Specialist
- RF™ – Wealth Manager
- RF™ – Foundation/Endowment Adviser
RF™ Requirements
- Background Check
- Academic & Licensing
- Training
- Testing
- Complaints
- Continuing Education
- Annual Renewal
Authority to Issue RF™ Certificationthe Fiduciary Standards Board licenses training organizations to develop training and continuing education programs, as well as licensing certifying bodies. Dalbar, Inc. holds a license from the Fiduciary Standards Board as a training and certifying body, and has created the RF™ certification.
RF™ SupportDalbar provides the following support to Registered Fiduciaries:
- Promotion of RF™ Certification
- Licensee and Designee Promotion
- Public Access
Cost and TimeframesThe typical cost of an online course for one candidate is $800 to $1,000, with continuing education cost of $200 to $300 per year. An online course usually requires 10 to 12 hours of study time for the average candidate. The continuing education varies from two hours to five hours per year.
At the completion of training, candidates are eligible for certification to receive the RF™ certification. Certification involves completing an application that contains a number of disclosures and commitments to act as an RF™ designee. The information provided on the application is independently verified for completeness and accuracy. The candidate then schedules an examination for the selected specialty. Upon successful testing the candidate is awarded the RF™ certification. The cost of certification is $350 per candidate. The certification process requires approximately 30 days.