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FAQs About CWPP™ Advisors

Should you become a CWPP™ or CAPP™?

First, if you are an advisor who has high net worth/income clients (or if you are an advisor that would like to cultivate such a client base), you can learn many new topics and ways to help those clients by sitting for your CWPP™ certification.  By learning the topics covered in the certification course and becoming much more well rounded, advisors can use the topics learned to grow their business and increase the profitability of either an hourly billing firm (CPA, accountant, attorney) or a commission-based business (insurance agency, financial planning firm, real estate broker).

Second, in this world where perception is reality, it is very important that clients (current and potential) know that their advisors have done something different to educate themselves in their field.  An accredited certification helps set advisors apart from other competitors; and it is very powerful to have CWPP™ following your name on business letterhead, business cards, and/or on a website.  For example, there are hundreds of CPAs, attorneys and insurance agents in any mid-size town in this country.  How is a client (personal or business) supposed to differentiate their CPA, attorney, or insurance agent from the others in the area?   A CWPP™ is a powerful way to illustrate to clients that you are different because you took the time to complete a CWPP™ course.

See if you think there is a difference in the following names:

John Q. Smith, CPA                                       Barry M. Kay (insurance agent)

John Q. Smith, CPA, CWPP™                        Barry M. Kay, CWPP™

Steve L. Anderson, J.D.                                Mitchell R. Armstrong (accountant)

Steve L. Anderson, J.D., CWPP™                  Mitchell R. Armstrong, CWPP™

Sandy Steiner, (real estate agent)

Sandy Steiner, CWPP™

If a high income/net worth client is going to trust one of the above-listed professionals in their field, which advisor would have a leg up on that competition?   We at the WPI believe the advisors with the CWPP™ should certainly win that competition because of superior knowledge on “advanced” planning topics, but we also believe that the fact the advisors have a CWPP™ will be an immeasurable help.

Think about the following question when considering if you can benefit from a certification course through the WPI:

Can ANY client’s estate or financial plan be complete if the plan does not also address the problems of asset protection?

We at the WPI believe the answer is an emphatic NO.

Think about the following fact scenario:

Dr. Smith, who is age 55 and lives in Tennessee, goes into a local law firm to implement the finest estate plan he can buy.  His goal is to pay no estate taxes, and he does not want to worry about running out of money in retirement (due to poor investing).  Assuming the team approach to help this client is implemented, Dr. Smith also brings in the finest CPA in town and the person who is considered the best financial planner.

Assume Dr. Smith has a $2,000,000 brokerage account, a paid off $500,000 vacation condo in Florida, $1,000,000 in local rental real estate, a $1,000,000 home and a $1,000,000 IRA all in his name. (There are many Dr. Smiths in this country).

Dr. Smith pays the attorney $5,000, the CPA $3,500, the fee only financial planner $3,000 and he is given the “finest” estate and financial plan that can be purchased in his area.

Dr. Smith feels good about his plan due to the fact that the advisors used have great reputations, he paid a lot for the “comprehensive” plan and everything in writing looked very official.

Ignoring the fact that none of the three advisors know many of the “advanced” techniques in the CWPP™ program (which would have been more beneficial to Dr. Smith to make his traditional estate and financial plan better); what is the problem with the above situation?

The answer is that the topic of asset protection was totally and completely ignored.

Let us now look at that bad fact scenario that is happening daily around this county to the Dr. Smiths who practice medicine.

Assume Dr. Smith (orthopedic surgeon) went into surgery the day after his new estate and financial plan is put in place and accidentally cuts off the wrong foot of a diabetic patient.

What is going to happen to Dr. Smith?  He is going to get sued for $5,000,000.

Assume that Dr. Smith has $1,000,000 worth of malpractice coverage and ultimately loses the medical malpractice suit where a jury does in fact award the plaintiff $5,000,000.

How did the $11,500 world’s greatest estate and financial plan protect Dr. Smith from the $5,000,000 verdict?   It did NOTHING to protect his assets. If the plaintiff with the $5,000,000 verdict goes after Dr. Smith’s assets, there is little Dr. Smith can do to prevent the court from directing Dr. Smith to give his assets (including the IRA money which is not protected in Tennessee) to the plaintiff/creditor to satisfy the judgment.

Are the CWPP™ and CAPP™ certification courses needed?

There is NO other certification course that deals with asset protection and “advanced” tax and estate planning like the topics covered by The Wealth Preservation Institute. If an advisor wants to learn about “advanced” planning, there is no where to go and therefore the WPI and its certification courses were created to fill this large void in the educational community.

Who is the course good for?

One key to education through WPI is that the certification programs cater to advisors that either have or want to cultivate high income/net worth clients.   If you are reading this and you do not have clients or do not want to cultivate clients with an income in excess of $150,000 a year OR a net worth in excess of $2,000,000, you probably are not a good candidate for education through the WPI.

While we believe that many advisors will go through a certification program at the WPI simple to have alphabets after their name to build credibility, we believe those that will benefit most from the certification program are what we would consider the high end advisor (who does or wants to deal with wealthy clients).

The Second key (with equal importance) is that relatively speaking a small percentage of the advisors (CPAs, attorneys, financial planners, insurance advisors and real estate agents) in this country will take the time to go through a WPI certification program.  While we at the WPI believe every advisor looking to provide the best advice possible for their clients should go through a certification program, that is simply not going to happen.

Therefore, those that take the time to go through the course and pass the examination will have huge leg up when competing with local advisors.  It does not matter if you are currently a CFP, CLU, JD, CPA, MBA or carry another designation.  If you do not have the CWPP™ or CAPP™ designation, you do not know many vitally important topics that are a must when dealing with high income clients or those with sizable estates.

The vast majority of the material in the WPI courses is absolutely unique and has come from specialists in their field from all over the country.  We invite you to look over the curriculum for the three day course and will let you decide for yourself if obtain education and an educational certificate from the WPI is worth your time and money.

How much time is involved?

The CWPP™ designation is a one of a kind designation given to advisors that complete a 24 hour educational course (either in person or through online education) and pass a 240 question multiple choice examination and a three (3) question essay examination.  The course is focused on the overall topic of wealth preservation which included the following topics.The topics covered in the CWPP™ course are:

Asset protection (both domestic and offshore) (3 hours)

Deferred Compensation

-ABC Plan/WealthBuilder Annuity

-Leverage Bonus Plan (the new “NQDC”)

Estate Planning (3 hours)

-Intentionally Defective Grantor Trusts (IDGTs)

-Self Canceling Installment Notes (SCINs)

-Private Annuity Transactions

-Preferred and Non-Preferred LLCs for Estate Discounting

-FLPs and Discounting for Estate Planning

Accounts Receivable (A/R) Leveraging/Financing

The Maximizer

Life Settlements

 

-Advanced IRA Planning

 

Charitable Planning

Mortgages (Equity Harvesting and the 1% CFA)

Reverse Mortgages

Section 79 Plans

Voluntary Employee Benefit Associations (VEBAs)

International Tax Planning

Qualified Plans (including carve-out planning) (2 hours)

Qualified Plan Insurance Partnership (QPIP)®

Health Insurance (cost reduction strategies)

ESOPs

-Annuities

-Life Insurance

For a more comprehensive review of the curriculum of the CWPP™ program, please click here to review the full course outline.

Simply stated, there is not a more comprehensive “advanced” planning educational course in the country.

Is the course comprehensive?

The WPI created the CWPP™ certification program as comprehensive course covering the broad topic of “wealth preservation.”  While the CWPP™ program uses asset protection as is foundation, the course is quite broad in its education of advisors on wealth preservatoin planning for the affluent client.

We at the WPI understand that some advisors will not need the depth of education that is offered by the CWPP™ program.  Instead we believe that some advisors will mainly be looking for education on the ever increasingly important topic of “asset protection.

In order to offer a useful and meaningful educational course on the issue of asset protection, the WPI created a comprehensive eighteen (18) hour course course called where graduates become a Certified Asset Protection Planner (CAPP™).  The course has a 500+ page textbook and will require the advisor to pass a 180-question multiple choice test and a two-question essay test.

Once you become educated on the subject of asset protection, you will find out why this topic is the best door opener when trying to work with high income/net worth clients.  Asset protection is white hot right now and few advisors are providing competent advice to help their clients.  Change your image and grow your practice by becoming a CAPP™ advisor.

To review the list of courses for the CAPP™ program, please click here.

To review the detailed course outline for the CAPP™ program, please click here.

The CAPP™ course focuses on topics that can protect a client’s wealth and does not cover many of the other topics from the CWPP™  course that have more to do with the financial side of a client’s estate.

Once the course and tests have been completed, the advisor will be issued a CAPP™ certificate.  Like the CWPP™ course, the advisor shall have ongoing continuing education requirements each year to keep the certification designation.

Currently the CAPP™ has been discounted down to $870. Also for first 200 that complete the CWPP™, those advisors will be able to take the CAPP™ course for the annual renewal fee to keep the license ($175).  So, if you are going to sign up for the CWPP™, now is the time so you can also avail yourself to the discount prince on the CAPP™ course.

To download a sign up form for the CAPP™, please click here.

What about advanced planning?

In addition to the very important topic of asset protection, there is NO educational entity nationally that deals with what we at the WPI call “advanced” planning.  It is important to define advanced planning and the following is a summary of the WPI definition of advanced planning:

Advanced planning is planning for high income/net worth clients that is derived from topics that few advisors in the country are aware of (or if they are aware of the topics, advisors know too little about the topics to incorporate them into a plan for clients).  The topics are much more beneficial than the every day solutions traditional advisors use and therefore the topics are not known and not used except by a select few top level advisors around the country.

What are some examples of advanced planning techniques (besides asset protection)?

1) WealthBuilder® Annuity is a program that allows small to medium small size business owners (or individuals in some circumstances) to defer taxable income of between $50,000-$5,000,000 a year into a wealth building program where the money can grow deferred for up to 30 years (this is ideal for business owners looking for supplemental retirement benefits).

2) The QPIP™ is a plan that helps clients mitigate the worst tax problem they have in their estate plans, i.e., the 70-80% tax trap of money in IRA (that occurs upon death of a client with an estate tax problem).

3) Section 79 Insurance Plans are a good way for medium to small business owners to write off through the business a significant amount of cash value building life insurance premiums where the life policy is individually owned by the client.  The cash value life policy can be used by the client for supplemental retirement benefits, if needed.

4) Accounts Receivable (A/R) Leveraging when done right (which is rare due to the many poorly constructed plans in the marketplace) is a nice tool to asset protect a business’s A/R while at the same time creating a potentially large supplemental retirement benefit.

5) Closely held Insurance Companies (CICs) are a nice tool for many clients to take large deductions for needed insurance coverages where the premiums are paid (and deducted from the client’s company) to the client’s own insurance company.  A CIC is a terrific tool business tool for many medium to small businesses and can function as a nice wealth building tool (with good claims history) for the owners.

The main issue that makes “advanced” planning advanced is that the topics are not widely known to the general public or to the advisor to the general public.  If someone does not know of a topic, it is either no good or simply too advanced for the average client and therefore not worth learning.

As stated in the proceeding paragraph, the main reason “advanced” planning topics are not known is because they mainly help the top 5-7% of the income earners in our country or the top 10-15% in built up wealth.  Because topics do not apply to the masses, educational entities of all kind (bar and CPA/Accounting associations, insurance and financial planning educators) do not deal with the topics.

Additionally, because “advanced” topics are perceived to be technical and complicated, educational entities shy away from those topics because of the perception that the topics will be “over the head” of most of those they are educating.

We at the WPI believe there is nothing terribly complicated about the “advanced” plans available to help clients.  What is lacking in the educational community (until now) is an educational entity that focuses on “advanced” planning and has taken the time to break down the supposed complicated topics into material that is easy to understand, learn and apply to our most important clients (the ones that have high income or wealth).

How did this course come about?

After spending several years researching and learning many topics that were considered “advanced” or “proprietary,” Roccy DeFrancesco, JD, CWPP™, CAPP™, decided to share his knowledge with other advisors through his book The Doctor’s Wealth Preservation Guide and through numerous articles published in leading financial planning, legal, and accounting journals.  Additionally, after giving lectures for thousands of advisors, it became apparent that a more formal educational approach was needed to help advisors learn the many tools available (but not known) in the advanced marketplace.

Roccy recruited some of the best minds in the advanced planning community to sit on The WPI’s educational board and Eithics board. Thier knowledge along with Roccy’s ability to put complex topics in written form into English so everyone can understand and learn them is the foundation of what makes the CWPP™ and CAPP™ absolutely unique.  To view the educational board, please click here.

Comparison Between CWPP™, CAPP™ and Other Certification Courses

Comparison Between CWPP™, CAPP™ and Other Certification Courses

The CWPP™ course is much different than a CFP, CLU. and the other certification courses in several ways:

1) CWPP™ is the only certification program that specifically and extensively deals with the ever-important topic of asset protection.  As an example of how important the topic of asset protection is for advisors to learn, see the following quote from an advisor who added asset protection to the list of topics he deals with.

Roccy,

Your book The Doctor’s Wealth Preservation Guide is great.  I have read it twice now in the past couple of weeks.  It has helped me with numerous doctor prospects.  It has been so much easier to schedule appointments with doctors now that I focus on asset protection instead of trying to sell them something.

Asset protection is the most important aspect for the doctor.  Everything sells itself. I may have some questions about some of your ideas.

Thanks again.

Brandon H., MBA

NO estate or financial plan can be complete if asset protection is not incorporated into the plan. The most expensive and “best” plan can be rendered meaningless with one negligence verdict.  A negligence verdict is not just an issue for doctors, lawyers, CPAs/accountants, architects, financial planners, insurance advisors, and other “professionals” who have personal liability.  Asset protection is an issue for any client who drives a car, owns a house or rental property, has teenage children, or runs a business.

2) The CWPP™ is officially endorsed by the National Society of Accountants.

3) CWPP™ advisors have the ability to give continuing education seminars for CPAs/accountants or attorneys (and soon insurance advisors) under the continuing education wing of The Wealth Preservation Institute.

4) The CWPP™ and CAPP™ courses are the only courses in the industry that require advisors to pass an essay test.  While advisors, if they study hard enough, can figure out a way to pass a multiple choice question test, there is no way to guess your way through an essay test. By completing and passing the essay portion of the certification test, advisors will truly be certified that they know how to apply the information learned in the course.

5) The term “Wealth Preservation” is a more all encompassing title than the other certification programs. Wealth preservation includes education on life insurance, financial planning, tax planning, asset protection, estate planning, real estate transactions, and running a business in a cost-effective manner.

When reviewing the other certification courses available, ask whether those courses educate on the following topics:

Asset protection (both domestic and offshore) (3 hours)

Deferred Compensation

-ABC Plan/WealthBuilder Annuity

-Leverage Bonus Plan (the new “NQDC”)

Estate Planning (3 hours)

-Intentionally Defective Grantor Trusts (IDGTs)

-Self Canceling Installment Notes (SCINs)

-Private Annuity Transactions

-Preferred and Non-Preferred LLCs for Estate Discounting

-FLPs and Discounting for Estate Planning

Accounts Receivable (A/R) Leveraging/Financing

The Maximizer

Life Settlements

 

-Advanced IRA Planning

 

Charitable Planning

Mortgages (Equity Harvesting and the 1% CFA)

Reverse Mortgages

Section 79 Plans

Voluntary Employee Benefit Associations (VEBAs)

International Tax Planning

Qualified Plans (including carve-out planning) (2 hours)

Qualified Plan Insurance Partnership (QPIP)®

Health Insurance (cost reduction strategies)

ESOPs

-Annuities

-Life Insurance

The above listed topics are topics that can benefit high income/high net worth clients. Those advisors who know the above-listed topics will have the needed knowledge to put together a “complete” asset protection plan, financial plan, and estate plan for clients.  Without knowing these topics, advisors will only be able to implement the every day solutions that have been around of the last 20+ years.  The CWPP™ course and its topics are unlike any other and can help advisors take their consulting practice to the next level by providing unique advice that best can help our most important clients (the ones with a high income or net worth).

6) The CWPP™ course is one that will teach advisors important information but also practical information that can be immediately applied in practice to help clients. Many of the certification courses in the marketplace fill hours in their courses with topics advisors do not need to know to give complete and practical advice to clients.  The WPI is confident that, when advisors complete a WPI certification course, they will be able to pay for the cost of the course in short order by helping existing clients with the topics learned or by being able to cultivate new clients.

7) The CWPP™ is a program that can be obtained at live, in-person seminars over a weekend “crash” course and at a price that is affordable for most advisors.  The course is also given in three days during normal 8-5 business hours.

8 ) The CWPP™ is a program that can be finished completely online (which is a huge benefit to those that do not have the time or money to spend at a two or three day conference).

9) The CWPP™ program has 640+-pages of text advisors receive when signing up for the course.  The CWPP™ textbook is one every advisor can keep for years to come as a research tool when trying to outline the best course of action for clients.

10) The CAPP™ course is the ony asset protection education course in the country. The course has over 500 pages of text and is on one of the hottest topics in the affluent market (how to protect wealth). The CAPP™ course is a great way to help you market to and pick up high income/net worth clients on non-product pushing topics.

11) The WPI is a terrific continuing education entity that sends out newsletters to advisors when important information arises on the topics covered in WPI courses.  When advisors deal with “advanced” topics, they must keep on top of law changes that inevitably take place so that any alterations to a client’s plan can be implemented.

12)  Online educational tools.  Once an advisor obtains a WPI educational certificate, they will have at their disposal through the WPI website PowerPoint presentations on all the topics that can be used for continuing education for the advisors or as a sale’s tool for an advisor when working with clients.

FYI, “Beginning in 2007, candidates for the Certified Financial Planner certification must have a bachelor’s degree, in any discipline, in order to obtain CFP certification.”

Those on the educational board of the WPI do not believe a college education is required to be a CWPP™ or CAPP™.  There are many people with BS, BA, MBA, JD, and CPA degrees or certifications who know very little about estate, tax, or asset protection planning; and there are many people without any degree who know a significant amount about those topics.

The only requirement to pass a WPI certification course is that advisors not have a criminal record and have the wherewithal to sit through a certification course and pass the multiple-choice and essay exams.

Are there other advisors involved?

The certification program was started by Roccy DeFrancesco, JD, CWPP™, CAPP™, and put together with the help of nationally known experts (authors, lecturers, J.D.s, LL.Ms, CPAs, MBAs, accountants, financial planners, insurance advisors, and real estate brokers) in their fields.

Click here for a list of the educational board.

Click here for a list of the ethics board.

How much time is involved?

In order to complete the certification course, advisors need to take 24 hours of classroom education (or online education) and pass a 240-question multiple choice test and a three-question essay test (with a pass rate of 70%).

The CWPP™ course can be taken on the internet in phases.  When taking the course in phases, at the end of each phase, the advisor may take the online multiple question test covering that phase.  After all the phases are complete, the advisor must then take and pass the essay part of the exam.

Is there a training manual?

The CWPP™ training manual is over 640 pages and is constantly updated online in PDF form.

Advisors can purchase the manual without taking the certification course; and we certainly encourage advisors to buy the book if they would like to get a first-hand look at the wide variety of topics covered in the program.

If an advisor would like the course material, the cost is $500.  If the advisor then decides to take the course, the $500 will be credited towards the ultimate price of the course.

For those that take the course, there are 24 online educational modules.

As a refresher for those that want to review the PowerPoint presentations used at the in person seminars, they will all be available online.

How much does it cost to become a CWPP™ or CAPP™?

As a special promotion, those that take the CWPP™ course at the first few in person seminars, the cost will be $1,300. This price will also apply to those that take the course online prior to September 30, 2006.

$1,950 to attend a 24-hour course for the CWPP™ (3-day course or a 2-day weekend course at 12 hours a day).

$1,850 to take the CWPP™ course online.

As a special promotion, those that take the CAPP™ course can do so for $870.

$1,335 to attend a 18-hour course for the CAPP™ to take the course in person.

$1,235 to take the APP™ course online.

Also for those that sign up for the CWPP™ prior to the end of 2006, those advisors will be able to take the CAPP™ course for the annual renewal fee to keep the license ($175).  So, if you are going to sign up for the CWPP™, now is the time so you can also avail yourself to the discount prince on the CAPP™ course.

To download a course outline of the CAPP™ course, please click here.

Where do I go for the course exam?

The examinations will all be done online.

Are there any rules I should know about?

Advisors are allowed to use any material to create answers to the essay portion of the test.  Advisor shall sign a sworn statement that they did not receive help from other individuals on both the multiple choice or essay portion of the test.  Any advisor violating this honor code shall be forever barred from using the CWPP™ and CAPP™ credentials or being associated it the WPI.

The reason for an open book test essay test is very simple.  Whether an advisor (CPA, attorney, accountant, insurance advisors, financial planner or real estate broker) is helping a client on asset protection, estate planning, tax planning, corporate structure, financial planning or any other topic, the advisor is not going to give definitive answers on the spot when collecting the facts of a particular client’s circumstances.

Good advisors collect information and data from clients, do independent research and take time to think about what advice would be best for that particular client.  An advisor that completes the educational courses in the CWPP™ or CAPP™ programs will have learned a great deal.  However, no one can learn all the “advanced” material overnight or even in a three day seminar.  In order to provide the best advice for clients, advisors must use all their resources which is in a 640 page text book for the CWPP™ program and in a 300 page text for the for the APP™ program.

When a faculty member from the WPI grades the essay exam, it will be readily apparent if an advisor really understands the material learned and is able to be worthy of the CWPP™ or APP™ certification.

The following is an example essay question and answer.

Example test question and answer.

Facts: Dr. Smith is a male, age 32, married with no children.  His spouse is a grade school teacher.  Dr. Smith has gross income of $350,000 a year from his solo practice (sole proprietor), and works as a pain management physician.  He has an office which he leases and one employee.  He has a fully insured health plan with Blue Cross.  He has $5,000 per month in disability insurance and no life insurance. The couple just purchased a $500,000 house with a $460,000 mortgage.  The couple has no brokerage account, no retirement plan and no investment real estate.    Please point out the potential problems Dr. Smith has, the potential solutions to those problems and your recommendation.

Problems: Dr. Smith;

1) has no life insurance

2) has too little DI.

3) is a sole proprietor

4) has a fully insured health insurance plan

5) has no qualified retirement plan or other supplemental program to build wealth in a tax favorable manner.

Potential solutions: Dr. Smith should;

1) Purchase life insurance of at least $1,000,000.  He could purchase term, UL, EIUL, WL or Variable.

2 go to the primary market and purchase more DI.

3) immediately incorporate to lessen his liability and potentially give him the opportunity to take “distributions” from his company to lessen his taxes.

4) consider a high deductible health insurance plan.

5) implement a qualified retirement plan (which could range from a 401k/profit sharing plans to a money purchase to a SEP or SIMPLE IRA).  In addition, Dr. Smith should consider using a plan such as WealthBuilder Annuity to reduce his current income and taxes and build wealth in a tax favorable manner for use in the future.

Recommendation:

1) Unless Dr. Smith, after discussions, had a strong need for “permanent” life insurance, I would recommend that he purchase at least $1,000,000 of 20-30 year term life.  At his age, return of premium term life would work well and would be financially appealing to the client.

2) Dr. Smith earns enough money to purchase at least another $5,000 per month   of DI.  I would recommend that he purchase as much additional DI as possible.  At his age, the price will never be less expensive.

3) I would recommend that Dr. Smith immediately incorporate and become a P.C. or LLC (depending on what his state allows).  I would recommend that the entity be treated as an S-Corporation for tax purposes.

4) Assuming Dr. Smith and his wife are healthy; I would recommend that they purchase a Health Saving Account (high deductible) health insurance plan.  If the employee is a full time employee, Dr. Smith could purchase it through the office as a deductible expense and the premium for the one employee would be very low.

5) I would recommend that Dr. Smith implement a simple 401k/profit sharing and I would recommend that he max out his contribution. Because he only has one employee the amount of money contributed for the employee will be low.

In addition, I would recommend that Dr. Smith implement WealthBuilder Annuity in the amount of $50,000.  He could implement the plan this year and if things did not go as planned, he would not be required to make any future contributions.  I would recommend that Dr. Smith set up the installment payment from WBA to start paying when he turns age 55, and I would have it pay over a 10 year period (this would help Dr. Smith have the option of slowing down or retiring before age 59 ½.

Do I need to take a 3 day course?

No.  We at the WPI understand that the majority of the people taking its courses are working professionals.  While some will be able to attend a three day in person seminar to learn the material, many will not be able to do so.

All advisors (even those that take the three day in person course) will take the online examination in separate modules.  If an advisor wants to sit down and take each of the examination modules in one setting; that is their prerogative.  We believe many advisors will want to review the material in sections and take the corresponding examinations in sections.  It is up to each individual advisor.

Is there continuing education requirements?

Yes. Advisors who have the CWPP™ certification will be required to attend twenty (24) hours of continuing education every two years (online or in person).

Advisors who have the CAPP™ certification will be required to attend twelve (12) hours of continuing education every two years.

Advisors will be able to use other continuing education classes from traditional sources with the proof that those outside educational courses are put on by a credible source and are on topics covered in the under the CWPP™ program.

Is there continuing education requirements?

Yes.  While we will allow advisors to take open book tests, there is a requirement that each advisor pass a three (3) question essay test every three years to keep their CWPP™ certification and a three (3) question essay test every three years to keep their CAPP™ certification.

The reason for the continued testing is to make sure that anyone that has a CWPP™ and CAPP™ certification really knows the material.  Most certification courses teach people the topics in a short period of time, have them take a test and then require continuing education as a way to stay current.  We at the WPI want to make sure our certified advisors continue to work with and know all of the topics covered in the course.  We believe a good way to do that is through essay open book testing every three years.

What happens after I pass the exam?

First, the advisor immediately becomes a CWPP™ or CAPP™ and can start using the CWPP™ or CAPP™ on their letterhead, business cards, and on the Internet.

Second, clients of CWPPs™ and CAPPs™ will be able to go to a special section of the http://www.thewpi.org/ website where they can review a summary of the rigorous training course each advisor has to go through in order to obtain a certification.  This is an important element in educating high income/net worth clients as to why a CWPP™ or CAPP™ should be used as the team leader and team member when implementing a complete wealth preservation plan.

Third, access to a password protected website that has advisor educational PowerPoint presentations on the topics covered in the certification class.

Fourth, licensed advisors will have access to numerous educational webinars that will serve as refresher courses and case design webinars.

Fifth, advisors will have access to a special client part of the http://www.thewpi.org/website where client versions of PowerPoint presentations on various topics will be hosted.  The reason for this part to the http://www.thewpi.org/ website is so advisors can send clients to be educated on particular topics without fear of losing those clients to other advisors.

Sixth, through a marketing agreement with TriArc Advisors, LLC, advisors who complete the course and pass the CWPP™ exam will be able to become instant authors on the topics covered in the CWPP™ course.  The current cost to become an author of a client educational book is $5,000 minus whatever an advisor paid for a course.

Why learn the CWPP™?

For advisors looking to learn new information and ways to help high net worth/income clients, there is no other educational entity in the country better situated and with more knowledge than the WPI and its faculty.

When you can illustrate to a client why their CPA, attorney, financial planner, accountant, insurance agent, or real estate broker is not helping them with important topics such as asset protection, tax reduction, advanced estate planning, and reaching retirement as quickly and safely as possible, then you will know the power of being a CWPP™.

The CWPP™ certificate program allows advisors to have on their letterhead, business cards, and websites a trademarked emblem that will make a bold statement about the worthiness of the advisor to help any high net worth/income client on his/her wealth preservation needs.

The WPI will allow advisors to have access to a password-protected educational site like no other that will not only continue to educate the advisor but can also be used as an exclusive tool to help educate clients.

The WPI allows advisors to take their knowledge with the subjects covered and instantly put them down in a book for publication with the advisor’s name on it.  Therefore, not only will an advisor have be known as a CWPP™ but the advisor can also be seen as a published author which can provide an unprecedented benefit when trying to bolster the credibility of an advisor.

Finally, once an advisor has graduated from the CWPP™ course, the advisor then has the ability to call the faculty or staff of the WPI to ask questions about any of the topics covered during the course without receiving an hourly bill for such questions. (This assumes an advisor is up to date on the continuing education requirements in order to keep the CWPP™ certificate).

To view the curriculum for the current CWPP™ course, please click here.

To find out when and where the next CWPP™ course will be offered, please click here.

To contact Roccy DeFrancesco, JD, CWPP™, CAPP™, CMP™ please click here.