Chartered Retirement Planning Counselor (CRPC)

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Chartered Retirement Planning Counselor (CRPC)

Overview

The Chartered Retirement Planning Counselor (CRPC) is a professional designation awarded by the College for Financial Planning to individuals who complete its study program and pass a final exam. The credential focuses specifically on retirement planning and equips advisors to assess and create retirement road maps for clients before and after retirement.

What CRPCs Do

CRPC holders concentrate on retirement-related issues rather than broad personal financial planning. Typical responsibilities include:
* Assessing retirement income needs and gaps
* Designing retirement income streams from Social Security, pensions, savings, and other sources
* Addressing tax and estate planning considerations in retirement
* Advising on employer-sponsored plans and personal investments
* Guiding clients through the emotional and financial transition to retirement
* Observing fiduciary, ethical, and regulatory requirements

Program Structure and Requirements

  • Delivery: Open-enrollment courses available live online and on demand; enrollment anytime.
  • Curriculum: Covers retirement income strategies, Social Security optimization, health care in retirement, asset management, tax and estate planning, and ethical/regulatory issues.
  • Common course topics:
  • Maximizing the client experience during retirement planning
  • Investing strategies for retirement
  • Social Security retirement benefits
  • Identifying additional retirement income sources
  • Health care and long-term care planning
  • Designing optimal retirement income streams
  • Tax and estate planning objectives
  • Study time: Expect roughly 90–135 hours of coursework and exam preparation.
  • Exam: Candidates must take the final exam within the program timeframe (typically shortly after coursework); additional attempts incur a fee (commonly around $100 per retake).
  • Cost: Course fees are charged by the College for Financial Planning (price varies; check the college for current rates).
  • Continuing education and renewal: CRPC is renewed every two years; holders must complete continuing education (about 16 hours every two years) and pay a renewal fee to maintain the designation.
  • Credit toward CFP: Completing the CRPC can provide continuing education credits and may allow exemption from portions of certain CFP education requirements (for example, testing out of some CFP program courses).

Career Impact and Compensation

  • Reported benefits: Professionals who earn the CRPC often cite improved credibility and job prospects in retirement planning.
  • Earnings: Average base salary figures vary by source; one report lists an average base pay near $72,000. The College for Financial Planning reports that certificants see an average earnings increase (commonly cited around 9%) after earning the designation.
  • Typical candidates: Many who pursue CRPC are already working in financial services and seek specialized expertise in retirement planning.

How CRPC Compares to Other Credentials

  • CRPC vs CFP: A Certified Financial Planner (CFP) offers broad-based personal financial planning across many topics. CRPC is specialized for retirement planning and is complementary to, not a substitute for, CFP certification.
  • CRPC vs CFA/CPA/ChFC:
  • CFA (Chartered Financial Analyst) focuses on investment analysis and portfolio management, often for institutional roles.
  • CPA (Certified Public Accountant) focuses on accounting, tax, and audit services.
  • ChFC (Chartered Financial Consultant) is similar to CFP in covering a wide range of financial planning topics.
    CRPC is targeted specifically at retirement planning expertise.

Who Should Consider the CRPC?

  • Financial advisors who want specialized retirement-planning skills for working with pre-retirees and retirees
  • Professionals seeking a credential that complements broader designations (CFP, ChFC)
  • Advisors aiming to demonstrate retirement-specific competence to clients and employers

Key Takeaways

  • CRPC is a retirement-focused professional designation intended to deepen advisors’ ability to plan income, tax, healthcare, and estate outcomes in retirement.
  • Coursework is delivered online with flexible enrollment; expect substantial study time and a final exam.
  • The credential requires periodic continuing education and renewal to retain the designation.
  • CRPC can enhance credibility and potentially increase earnings, especially for advisors whose practices emphasize retirement planning.