SOURCE: Retirement Income Industry Association

Retirement Income Industry Association

May 24, 2010 11:13 ET

Boston University to Partner With the Retirement Income Industry Association to Develop Retirement Management Analyst(SM) (RMA(SM)) Certificate-Granting Training Program

BU to Be the First Academic Institution to Offer an Educational Program Leading to the RMA(SM) Designation

BOSTON, MA--(Marketwire - May 24, 2010) -  The Retirement Income Industry Association (RIIA) has partnered with Boston University's Center for Professional Education to offer the online Certificate in Retirement Management. The certificate will prepare financial advisors and financial professionals for RIIA's new, advanced education designation in retirement income planning and management -- the Retirement Management Analyst(SM) (RMA(SM)) designation.

"When the bottom dropped out of the economy and our financial markets in 2008, it became clear that traditional retirement planning didn't work for millions of Americans whose retirement security is at risk," explains Francois Gadenne, chairman and executive director of RIIA. "The RIIA leadership decided to address this need for a more comprehensive approach to retirement income management and developed the education and training framework to help advisors better assist their clients. That is how the RMA(SM) came into being."

The partnership with Boston University will ensure that the RMA(SM) curriculum continues to grow and expand, providing industry professionals with the intensive, cutting-edge training needed to earn the designation. Boston University -- a leader in distance education and professional programs -- will offer the Certificate in Retirement Management as a comprehensive and interactive web-based program starting September 2010.

"We are thrilled that BU is working with us to support and enhance the RMA(SM) designation curriculum, preparation, and exam process over the long term," continues Gadenne.

"Boston University has a long tradition of innovation in education," says Ruth Ann Murray, director of BU's Center for Professional Education, where the program will be developed and administered. "As was the case with many of our existing programs, Boston University will be the first institution of higher learning to offer the educational component leading to what we believe to be an important industry credential."

To earn an RMA(SM) designation, a financial advisor or other professional must complete a rigorous educational and ethics training curriculum that focuses on:

  1. Building the Retirement Plan to Mitigate Risks
    The objective is to learn to create complete plans for retirement income that assure the client a floor of retirement income and provide appropriate exposure to upside potential, based on each client's unique goals and circumstances.
  1. Mastering the Advisory Process
    Using a simple, but powerful "hub and spoke" approach, the client is at the center and the process looks at the client in a holistic frame that includes the household balance sheet; creating a life-cycle profile; assessing retirement risks; risk management allocation; and choosing the right products. The objective is to expand the focus from traditional Financial Capital to now include Human Capital and Social Capital in every retirement income plan.

For more information about the RMA(SM) designation, criteria, and requirements, please visit the RIIA website, www.riia-usa.org.

Boston University's Center for Professional Education will offer the Certificate in Retirement Management in a convenient online format beginning September 2010. For details, please call the Center for Professional Education at 866-633-9370 or 617-353-4497, or visit bu.edu/professional.

About the Retirement Income Industry Association (www.riia-usa.org)
The Retirement Income Industry Association (RIIA) was founded in 2006 by leading financial services companies, advisors and academics who wanted a focused approach to retirement income with a broad view across the industry to address the major challenge facing an entire generation of Americans about how to create durable, inflation-adjusted retirement income that can last 30 years or more in retirement. A not-for-profit organization with national and international members, RIIA strives to address issues encompassing a dynamic retirement income landscape. Its mission is to bring the retirement income industry (commercially, academically and through affiliated associations) together with a "View Across the Silos(SM)" to create a forum for sharing the freshest outlooks, the most modern thinking, the latest research and education, and the newest advances in product development within the realm of retirement income.

About Boston University's Center for Professional Education
As part of Boston University's Metropolitan College, the Center for Professional Education (CPE) offers comprehensive classroom and online training to meet the professional education and certification needs of industries such as commercial real estate, financial services, law, and publishing, among others.

Founded in 1839, Boston University is an internationally recognized institution of higher education and research. With more than 30,000 students, it is the fourth-largest independent university in the United States. BU consists of 17 schools and colleges, along with a number of multi-disciplinary centers and institutes integral to the University's research and teaching mission.

One of BU's 17 degree-granting bodies, Metropolitan College (MET) offers over 60 part-time undergraduate and graduate degree and certificate programs, providing a flexible learning environment that supports the academic, professional, and intellectual needs of working adults. Along with convenient evening classes, Metropolitan College also offers a variety of high-quality online and blended-format programs. For more information, visit bu.edu/met.

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