The Retirement Advisor University Governance Overview
The Retirement Advisor University (TRAU) is governed by a Governance Committee which exists to oversee the educational programs available through TRAU and is responsible for the governance of The Retirement Advisor University and accountable for its success. The Governance Committee has established and delegated responsibility for various tasks to two bodies:
The Retirement Advisor University Education Committee which is directly overseen by the Governance Committee oversees the course offerings, educational standards and educational policies of The Retirement Advisor University. The Education Committee acts as an advocate for all C(k)P® Designation Candidates and provides a vision of a premiere educational system for adult learners at TRAU.
The C(k)P® Standards & Certification Committee, which has been established as an autonomous body with sole authority in regard to all decisions regarding certification. This includes certification requirements, certification polices, the certification examination. C(k)P® Standards & Certification Committee is an independent body of professionals that sets the standards and policies for Retirement Plan Professionals. The C(k)P® Standards & Certification Committee oversees the standards and delivery of the premiere designation for Retirement Plan Professionals, the Certified 401(k) Professional, the C(k)P® Designation.
While each of these boards and bodies has no dedicated staff, the staff of The Retirement Advisor University is responsible for meeting the needs of each board. The direction and needs of each board is communicated to The Retirement Advisor University staff (and other staff resources as may be donated or contracted from time to time) through the Program Coordinator/Director or their assigned agent who is also responsible for maintaining the minutes of each board meeting.
The Retirement Advisor University Governance Committee
The Retirement Advisor University ("TRAU") Governance Committee exists to oversee the educational programs available through TRAU and is responsible for the governance of The Retirement Advisor University and accountable for it’s success. Members of the Governance Committee are appointed but generally include some staff members, academic instructors, and others involved in the day to day operations of TRAU.
The responsibilities of Governance Committee includes being a connection between stakeholders and The Retirement Advisor University, developing guiding policies to direct TRAU and approval of curriculum, instructional policies, industry outreach polices, and ensuring the C(k)P® Board of Standards and Certification is autonomous in it’s decision making regarding certification and examination issues.
Governance Committee members are expected to stay active in the TRAU community and maintain strong relationships with members of varied stakeholder groups.
The Ethics and Discipline Committee
The Ethics and Discipline Committee shall consist of no less than three individuals, each serving a three year term, selected by the chairman of C(k)P® Standards & Certification Committee, or an agent of his/her choosing.
The Ethics and Discipline Committee members may revise and review and propose changes to the Ethics statements, core values, and disciplinary policies and procedures. All proposed changes will be reported to the C(k)P® Standards & Certification Committee which will make the decisions regarding implementation. The Ethics and Discipline Committee maintains the disciplinary proceedings and policies of The C(k)P® Standards & Certification Committee.
Ethics & Guiding Values
Purpose of This Document
To give an overview of the Ethics & Values of The C(k)P Standards & Certification Committee
Ethics & Guiding Values
The C(k)P® Standards & Certification Committee advocates high standards of ethics for Retirement Plan Professionals, current students of TRAU The Retirement Advisor University and all individuals granted the use of the C(K)P® marks. All individuals granted the use of the C(k)P® marks are required to adhere to and agree to the statement of ethics, guided by the core values of Integrity, Diligence, Professionalism, and Objectivity.
C(k)P® Standards & Certification Committee. and The Retirement Advisor University believe and promote the concept that a financial professional becomes successful by placing the needs of every client before the needs of themselves. The statement of ethics is intended to promote behavior that demonstrates proof of this concept. The statement of ethics, code of ethics, and values, are continually being reviewed by the Ethics and Discipline Committee in order to provide for more detail and a better understanding of the ethics involved with being a Retirement Plan Professional.
C(k)P® Statement of Ethics:
I will strive to maintain objectivity in all circumstances, enabling me to be steadfast, fair and make sound judgments. I will strive to act with diligence, and professionalism, which allows me to be fair and even handed in all my client interactions.
Guiding Values of The C(k)P® Standards & Certification Committee
Value 1: Integrity is…
The internal fortitude to do the “right thing” the first time, every time regardless of benefit or detriment personal financial gain.
Value 2: Diligence is…
Consciously choosing to anticipate, investigate, and evaluate the risks options and benefits prior to making decisions
Value 3: Professionalism is…
Providing consistent courteous, honest, and responsible behavior towards clients in order to provide the highest level of service.
Value 4: Objectivity is…
Ignoring the benefits to ones self during the decision making process in order to concentrate on the benefits to the clients.
Ethics Code Form
Purpose: To provide affirmation and documentation of agreement to adhere to the Code of Ethics of The C(k)P® Standards & Certification Committee
The Certified 401(k) Professional Code of Ethics
I recognize that this code of ethics, and it’s principles and obligations, are in addition to those set forth by any other code, regulation or law that governs my professional and ethical conduct.
I will strive to:
- Do the “right thing” the first time, every time by acting with honesty and integrity, to protect the interest of my clients.
- Promote the values and teachings of The Retirement Advisor University to my clients and peers.
- Provide courteous, consistent, and professional service with complete honesty.
- Encourage my clients towards the decision that I feel benefits them most, regardless of my own personal benefit in the transaction.
- Provide my clients, and prospective clients, with information useful in evaluating risks, options, and benefits before making a decision.
- Use sales presentations and techniques that provide an accurate representation of all products and services offered and are compliant with state and federal regulations.
I understand and agree to the principles outlined in this code and pledge to adhere to appropriate business practices and high standards of ethical conduct in order to maintain my status as a Certified 401(k) Professional and/or student at The Retirement Advisor University.
Signature Date
__________________________________________
Printed Name
The C(k)P® Standards & Certification Committee
Purpose of The C(k)P® Standards & Certification Committee
The C(k)P® Standards & Certification Committee was created to deliver the defining and distinguishing designation for Retirement Plan Professionals. This designation has taken shape in the C(k)P® Designation Certified 401(k) Professional. The C(k)P® Standards & Certification Committee is an independent body of professionals that sets the standards and policies for Retirement Plan Professionals. The C(k)P® Standards & Certification Committee oversees the standards and delivery of the premiere designation for Retirement Plan Professionals, the Certified 401(k) Professional, the C(k)P® Designation.
Certification
The foundation of The C(k)P® Standards & Certification Committee is the Certified 401(k) Professional certification. The C(k)P® Designation distinguishes Retirement Plan Professionals who have met standards in experience, education, ethics and examinations.
Every Retirement Plan Professional who achieves the C(k)P® Designation has a minimum of three years’ experience in the financial services and/or retirement plan industry, undergoes an extensive background check, agrees to adhere to the standards of ethics and the disciplinary policies and has successfully completed the C(k)P® Designation Examination.
C(k)P® Standards & Certification Committee Structure
The C(k)P® Standards & Certification Committee is an independent body within The Retirement Advisor University which has been established by the Governance Committee. The C(k)P® Standards & Certification Committee makes all the final decisions regarding standards, evaluations, and qualifications pertaining to the C(k)P® “Certified 401(k) Professional” designation. This includes the creation of various committees to act as an agent of or on behalf of The C(k)P® Standards & Certification Committee.
The C(k)P® Standards & Certification Committee consists of representatives from each of the following stake holder groups:
- Retirement Plan Professionals
- Educational Professionals
- The Retirement Advisor University
- The public
Members are appointed by the Executive Director of The Retirement Advisor University and serve a one year term with the exception of the chairman who serves a three year term.
Voting Process
Chairman of The C(k)P® Standards & Certification Committee is a non-voting position except in the event of a tie. In the case of a tie, the chairman will have one vote. After articles are debated by members of The C(k)P® Standards & Certification Committee, each member receives one vote. After voting is complete, the chairman will weigh the opinions, votes and decisions of The C(k) P® Standards & Certification Committee members and draft a formal decision on each article and item voted upon. The formal decision drafted by the chairman will be considered the final and official position of The C(k)P® Standards & Certification Committee. Formal decisions will be presented at the next meeting of The C(k)P® Standards & Certification Committee or sent by email.
The Retirement Advisor University Committee On Education
Role
- Approve new educational offerings for recommendation to the GC and UCLA Anderson Executive Education
- Solicit input from the Retirement Plan Professional Community regarding educational needs
- Establish and oversee sub committees to develop board approved educational offerings
- Provide guidance and oversight to sub committees on education as needed
- Create and oversee educational standards for TRAU
- Create and submit materials for continuing professional education credit for the C(k)P® Designation to the C(k)P® Board of Standards & Certification
- Provide Advice and guidance on education related matters
Complaint Procedures
Complaint (Grievance) Procedures
The following is a brief summary provided to assist you in becoming familiar with the grievance and disciplinary policies of The C(k)P Standards & Certification Committee. Certified 401(k) Professionals are required to maintain high ethical standards, and agree to cooperate with the Ethics and Discipline Committee regarding the investigation of any complaints.
A charge against the conduct or actions of a Certified 401(k) Professional is a matter that The C(k)P Standards & Certification Committee and The Retirement Advisor University in collaboration with UCLA Anderson Executive Education takes very seriously. If you feel that the code of ethics has been violated, it is important that you begin the grievance process so that the matter may be investigated, thoroughly reviewed, and a decision rendered as to if action is warranted.
There is no cost, to you for the grievance process. The C(k)P Standards & Certification Committee, provides for an Ethics and Discipline Committee that determines whether allegations and grievances filed are justified and whether the unethical conduct warrants disciplinary action.
Please be assured that the Ethics and Discipline Committee will investigate your grievance impartially.
When authorized to use The Retirement Advisor University marks, each professional agrees to adhere to a standard of ethics. Each grievance filed is considered very carefully, because a grievance filed may negatively affect the designee’s reputation, career, and potentially effect future income. To establish grounds for disciplinary action takes more than just an allegation. Irrefutable proof established by evidence of unethical misconduct must be presented for the Ethics and Discipline Committee to determine that grounds for discipline exist.
Grievances should relate to unethical misconduct. Certified 401(k) Professionals are held to a high standard of ethics and conduct, however, a Certified 401(k) Professional, like any other professional, may not always respond in the best manner. They may not make the best possible decisions. For example, a disagreement about fees, vendors, or investments, does not necessarily indicate unethical misconduct. An error in judgment does not necessarily constitute unethical misconduct, nor does an unexpected decline or change in market conditions or in securities value.
****When filing a complaint or grievance please note that you will only be contacted in the event of your presence being requested at a review called by the Ethics and Discipline Committee.
Purpose of This Document
To provide a brief overview of the policies and procedures of the C(k)P C(k)P Standards & Certification Committee relating to discipline.
Disciplinary Policy
All C(k)P are subject to the following disciplinary policies and procedures.
1. Request For Investigation – Once a written grievance is received a member of the Ethics and Discipline Committee reviews the allegations to determine if further investigation is warranted. This review may include phone conversations with the C(k)P and the individual or group filing the grievance.
2. Investigation – If the Ethics and Discipline Committee member determines that an investigation is warranted, the C(k)P is given written notice of the investigation, the source and nature of the allegations. The C(k)P is given 30 days to file a written response.
a. If no response is received within this time period the allegations may be considered substantiated and a review called. If no response is received within 30 days the allegations and the allegations are considered to be admitted to, the rights to use the C(k)P marks, and be listed on The Retirement Advisor University website as a C(k)P may be revoked.
b. If a written response is received from the C(k)P within 30 days the Ethics and Discipline Committee will review the response and determine if there is probable cause to believe that grounds for discipline may exist.
i. If it is determined that cause for discipline may exist notice of a formal review may be issued to the C(k)P.
ii. If it is determined that no probable cause to believe that grounds for discipline exists the matter is considered concluded.
3. Review Called (response) – In cases which a formal review takes place the complaint will be reviewed by the Ethics and Discipline Committee. The Ethics and Discipline Committee may hold a formal review through any means they determine appropriate, in person, online, or by telephone. The C(k)P is entitled to appear in person, or telephonically, online or to be represented by an agent or counsel of their choice. They have the right to cross examine and present evidence on their own behalf.
4. Determination – If no disciplinary action is to be taken the matter is concluded. If disciplinary action is to be taken the Ethics and Discipline Committee submits its findings and recommendations to the C(k)P Standards & Certification Committee which after considering all the facts and recommendations renders a final decision.
Appeal Process
In order for any decision of the Ethics & Discipline Committee or the C(k)P Standards & Certification Committee, regarding discipline, complaints, or grievances, to be reversed a member of the C(k)P Standards & Certification Committee must initiate a review of the decision within sixty (60) days of the final decision. All appeals, requests, and information to C(k)P Standards & Certification Committee members regarding an appeal must be presented in writing to The Retirement Advisor University Program Coordinator who will act as the liaison between the appealing party and the appropriate committee. If a review is decided upon, the C(k)P Standards & Certification Committee will meet privately to review the facts and determine if a change in the decision is appropriate. The C(k)P Standards & Certification Committee may invite any parties they feel may have information that would influence their decision
Forms of Discipline
If grounds for discipline are established, the Ethics and Discipline Committee may recommend, any of the below listed forms of discipline to the chairman of the C(k)P Standards & Certification Committee. The chairman (or an agent of his /her choosing) may impose any of the forms of discipline listed below. All disciplinary actions, except private advisory letters may be made public information at the sole discretion of The C(k)P Standards & Certification Committee. The fact that a private advisory letter has been issued may be made public information at the sole discretion of the chairman of the C(k)P Standards & Certification Committee; however the contents of such letter shall remain private.
- Private advisory letter
- Public letter of admonition
- Suspension of C(k)P designation & rights to use any marks owned by The Retirement Advisor University for a period of time not to exceed five years.
- Permanent revocation of the C(k)P designation & rights to use any marks owned by The Retirement Advisor University.
Disclaimer:
The C(k)P Standards & Certification Committee, The Retirement Advisor University, Inc. and other associated entities attempt to set, monitor and maintain high standards of practice for all C(k)P designees. C(k)P Standards & Certification Committee, The Retirement Advisor University, Inc., and any other entities associated with the C(k)P designation, The Retirement Advisor University Inc., or any agents or affiliates of the afore mentioned make no claims and hold no responsibility for the job performance, performance of duties, interactions, or transactions, or any other action or inaction that individual C(k)P designees may have with clients, vendors or other entities public or private. These transactions are governed by regulatory bodies and are the sole responsibility of the individual designee and respective governing bodies. Discipline by The C(k)P Standards & Certification Committee, The Retirement Advisor University, Inc. and all affiliated or associated entities are limited to advisory letters, and rights to use the marks and designations owned by these entities.
