The Principal Financial Group is the latest company to support the nationally accredited LACP mark of distinction for financial services professionals that work in life and annuities.
NAIFA announced that Principal Financial Group supports and actively encourages its financial representatives to attain the Life and Annuities Certified Professional (LACP) certification as evidence of their knowledge of and ethical approach to sales of life and annuity products. The support will allow Principal financial representatives to list the LACP certification as an earned designation and use the LACP mark in promotional materials to differentiate themselves in the financial services marketplace.
The LACP certification is accredited by the National Commission for Certifying Agencies (NCCA) and complies with the NCCA’s rigid Standards for the Accreditation of Certification Programs. The LACP certification is officially listed in the Financial Industry Regulatory Authority (FINRA) professional designations database, one of only ten accredited designations of the hundreds listed with FINRA.
“The industry is recognizing that the LACP certification signifies professionalism, trustworthiness and expert knowledge – all characteristics consumers should look for in a financial professional,” Kevin Mayeux, CEO of NAIFA, said. “The LACP is a benefit to those professionals who are able to achieve it and to the clients they serve. It is the gold standard and an indication of excellence for any professional providing annuities and other life insurance products to clients”
In addition to Principal, several other companies including New York Life, Guardian, Country Financial, SagePoint, Woodbury Financial, Royal Alliance, FSC Securities and Cambridge Investment Research support the LACP certification. On the consumer side, the Alliance for Lifetime Income (ALI), recognizes the importance of the LACP and features holders of the certification in its public information campaigns. NAIFA works with ALI to educate the public and policymakers about the importance of financial products that provide lifetime incomes and the risk many Americans face of outliving their savings during retirement.
To attain the LACP, financial professionals must meet the exam eligibility criteria and exemplify excellence in the following three areas: product knowledge, consultative sales process, and commitment to ethical conduct.
Eligible professionals may register to take the exam during three month-long testing windows each year in July, October and January. The proctored exams are administered by Castle Worldwide through a network of nearly 1,000 testing centers in cities throughout the world.
The registration deadline for the month of January is Dec. 1. See the Exam Schedule and Registration.