How to Offer Continuing Education Credits for Finance

As a seasoned financial services professional, you have years of client experience and industry insights to contribute. Developing a continuing education course allows you to share your expertise while establishing yourself as a thought leader in the financial industry.

So, what's the first step? In this article, we'll walk through how to offer continuing education credits for finance professionals. We'll also cover essential information like who oversees continuing education and what types of finance professionals benefit from these credits.

What is continuing education for finance?

Continuing education is a system that provides advanced learning opportunities for financial professionals. Typically, professionals complete continuing education credits after receiving a specific certification and working in the financial industry.

For most finance professionals, continuing education is mandatory. It supports lifelong learning and helps professionals stay current with industry topics.

Continuing education offers several benefits that make the time investment worthwhile. Many courses are designed to teach finance professionals new skills, which can lead to career advancement.

As finance professionals gain deeper knowledge on relevant topics, they can more easily build trust with clients. While clients benefit from the added knowledge, finance professionals can benefit from providing higher levels of service.

Many courses can also help with understanding new regulations and maintaining compliance. By taking the right courses for their specialty, finance professionals can acquire information that's critical to doing their jobs well.

Who needs continuing education credits for finance?

Across the globe, many finance professionals have to complete continuing education credits to keep their licenses. In the United States, certified financial planners (CFPs), registered financial advisors, and other finance professionals must complete continuing education credits.

In France, financial advisors, including those with the Conseiller en Investissements Financiers (CIF) designation or involvement with ORIAS-registered intermediaries, must complete credits.

In the UK, the Financial Conduct Authority requires financial advisors to complete continuous professional development annually. However, some certifying organizations, such as the CFA Society, encourage but don't require continuing education.

Who oversees continuing education for finance professionals?

No single authority oversees these educational credits. With continuing education, finance authorities in each country determine the requirements. As a result, each country and designation may require different numbers of continuing education credits on different schedules.

For example, in France, the Autorité des Marchés Financiers regulates the financial marketplace. In the UK, the Financial Conduct Authority sets regulations.

In the U.S., a few organizations provide input. The Financial Industry Regulatory Authority sets rules for the securities industry. However, the Certified Financial Planner (CFP) Board of Standards sets guidelines for financial planners, while the National Association of Personal Financial Advisors oversees guidelines for financial advisors.

How to provide continuing education for finance professionals

Because regulations vary between countries and designations, the specifics depend on your firm's specialty and location. These guidelines offer a solid starting point for planning and registering a continuing education course.

1. Register to become a continuing education provider

Not just any financial services firm or professional can develop and offer a continuing education course. That's why the first step is registering to serve as a continuing education provider for the relevant certification board or regulatory authority.

For example, the CFP Board of Standards requires education providers to submit a sponsorship application and pay an annual fee. Providers must renew registration every year to continue to offer courses.

2. Develop a continuing education course that meets requirements

Once you've registered as a continuing education provider, the next step is developing a course. As you design the course, make sure to follow the continuing education requirements set by the certification board or regulatory authority.

For example, the CFP Board of Standards requires each program to have one or more learning objectives. These objectives must be specific and measurable so students understand what they'll gain from the course.

The CFP Board of Standards also requires continuing education programs to be both accurate and up to date. These factors are crucial for providing students with relevant information they can use to maintain compliance.

In addition, the CFP Board of Standards also has time and authorship requirements. To provide continuing education credits, finance courses must be at least an hour long and be created and reviewed by a subject matter expert.

To increase interest in your course, it's also helpful to choose a topic that aligns with important industry developments or growing trends in finance. However, keep in mind that topics on rapidly evolving regulations may require more frequent updates.

Before you commit to a specific course, it's worth reviewing prohibited topics. For example, the CFP Board of Standards doesn't allow practice management or software- or hardware-related topics.

3. Decide whether to offer a live program or a virtual course

Some certification boards and regulatory authorities allow continuing education providers to offer courses on demand, live, or even in person.

In-person courses require a dedicated space for the instructor and students. While the author of the course doesn't necessarily have to be the person who delivers it in person, the instructor must be qualified to speak on the subject.

In many cases, you can also opt to offer live courses virtually. With live courses, you can teach the material and interact with learners in real time. This format can be helpful for facilitating questions and answers or providing more specialized assistance.

However, on-demand virtual learning is also popular, as this format is often easier for students to access and continuing education providers to offer. Learners can complete on-demand webinars at any time, which is easier for busy schedules.

4. Choose the right technology for online course offerings

Whether you plan to offer live courses or on-demand material, you need online course software that meets your requirements. With Livestorm, you can offer live, on demand, or both types of courses.

Learners can easily join live events in real time without needing to download an app, thanks to our browser-based platform. During live events, instructors can interact with attendees and answer questions via live chat or Q&A sessions.

In addition to using your webcam during the presentation, you can also show your screen, share files with attendees, or use virtual whiteboards.

For example, the International Academy of Orthopedic Medicine (IAOM) opted to shift online courses to Livestorm for better reliability and more real-time engagement.

Creating on-demand video content is just as seamless. With Livestorm, you can either record live events and then make them available on demand or film courses in advance so learners can enroll and watch at their convenience.

No matter which format you choose, Livestorm analytics make it easy to track attendance and participation. Our built-in analytics confirm attendance so you can report credits to the relevant certification board or regulatory authority.

Plus, Livestorm is designed to meet the security and compliance needs of the financial sector. Our webinar platform is GDPR compliant and ISO 27001 certified.

5. Submit the course for approval

Once you've designed the course and worked out the logistics, you're ready to submit it for approval. Check with the relevant certification board or regulatory authority to confirm the process and the timeline.

In some cases, a review period may occur between the time you submit the course and it becomes available to finance professionals. If you intend to offer live or in-person courses, it's especially important to keep this timing in mind.

6. Communicate with the board and report on student credits

After the course is approved and becomes available to learners, it's the provider's responsibility to process attendance and share relevant information with the certification board or regulatory authority.

At a minimum, you'll need to keep a record of the students who registered for your course and completed it successfully. However, many organizations also require that providers issue a certificate of completion to each successful learner.

In most cases, you'll also need to report student credits to the certification board or regulatory authority. This step ensures that each learner receives appropriate credit toward their continuing education requirement.

7. Renew the course and develop new materials

Because continuing education for finance requires accurate and current information, courses require regular updates. For example, the CFP Board of Standards typically follows an annual renewal process.

However, each organization has its own requirements for updating course material. Make sure to confirm the timeline with the relevant certification board or regulatory authority so you can continue offering the course.

Once you've successfully offered one continuing education course, it may be worth planning more. Repeat the steps above to decide on a new course and develop new materials.

Livestorm for finance continuing education

When you offer live or on-demand continuing education for finance, you need a reliable software platform for online teaching. Livestorm is your solution for:

• Hosting live webinars for a few or 1,000+ continuing education learners
• Offering live Q&A sessions and live chat features for real-time interaction
• Generating on-demand events learners can view on their own schedule
• Meeting security requirements with GDPR compliance and ISO certification
• Using Livestorm integrations to connect with your tech stack

Ready to test our virtual learning platform with your firm? Sign up for a free Livestorm account and schedule your first online event in just a few minutes.