4 Certified Senior Designations Worth Holding

In recent years, the number and scope of professional designations available have grown, and many financial advisors are now unsure of which credential will serve them most effectively. This is especially true for specialized designations for retirement planning and working with the specific financial needs of older adults. As the Bureau of Labor Statistics notes, the major driver of the growth in jobs for financial advisors is the aging population. The large baby boomer generation is on the way to retirement, and longer life spans are leading to prolonged retirements, adding to the demand for financial planning services aimed at older adults. Here, we take a closer look at some of the designations used and whether they are worth pursuing for those looking to offer financial advice on retirement planning, retirement income, longevity planning, and estate planning.

Several designations have been created in the financial planning industry in recent years. Designations focused on the needs of older adults primarily involve financial strategies for individuals aged 50 and older.

The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) do not officially recognize any professional titles such as “retirement advisor” that financial professionals use. Nevertheless, this financial planning consumer demographic has been increasingly targeted from almost every direction by the financial services industry, including banks, insurance companies, and independent financial and estate planners.

With potentially larger portfolio balances, given their longer investment timeline and a growing need for retirement and succession planning services, there are ample needs and opportunities for working with older clients.

The Financial Industry Regulatory Authority (FINRA) does not approve or endorse any professional designation. The designation's inclusion in its database doesn't mean that FINRA considers the designation acceptable for use by a registered representative.

Here are four main designations that financial professionals may use to signal expertise in the financial planning needs of older adults:

Offered and recognized by the Society of Certified Senior Advisors (SCSA), a CSA is the best-known advisory certification on this list. Candidates need to pass a certification examination on the social, medical, cultural, financial, and legal aspects of aging to become a license holder.

There is no prescribed training or education program, but the SCSA offers resources like textbooks and live course training. Preparation for the exam usually takes 50–60 hours. Candidates must also complete 30 hours of continuing education and pass a criminal background check every three years to maintain their certification.

CSAs are typically professionals in different fields who work exclusively or frequently with the aging and want to supplement their professional knowledge with the designation. Many advisors who earn this designation work primarily with fixed or indexed annuities. However, some nonfinancial professionals, including estate planning attorneys, healthcare professionals, and administrators, carry this designation. CSAs must inform consumers that the designation alone does not imply financial, health, or social expertise. 

Offered by The American College, CASL applicants need to have worked with older adults for a minimum of three years before they can take the required examination. Applicants must also adhere to The American College's code of ethics.

A CASL advisor is tested on retirement distributions from pensions and Social Security, planning for health and long-term care needs, and effective estate planning strategies. The CASL designation is no longer offered to new students. However, existing certificate holders are required to participate in the Professional Recertification Program to keep their credentials.

CSS requires more course work than the others in retirement planning, estate tax planning, annuities, Social Security, and Medicare. The exam covers long-term care and issues related to the care of adults 80 and over, the demographics of the population of older adults, charitable estate planning techniques, and reverse mortgages.

The CSS license is issued by Certified for Senior Studies, although not all jurisdictions recognize the designation. For example, California treats this license differently than the CSA since the designation can't be used by agents or brokers to sell insurance to adults 65 and over. For this reason, the CSS license holds much less value than some of the other licenses.

Issued by the Association of Chartered Senior Financial Planners, the CSFP designation trains recipients in advanced retirement and estate planning strategies. To take the exam, trainees must have two years of insurance experience, two years of securities experience, or be a licensed attorney or CPA. Three-day training sessions are available before the exam, and 16 hours of continuing education are required every two years.

Like other exams, the CSFP designation prescribes a code of ethics and demonstrates a holder's proficiency in preretirement, post-retirement, and asset protection strategies.

While designations for expertise in the financial needs of older adults may differ substantially in the academic training, none of them can compare to the curricula for established and respected designations such as Chartered Financial Planner (CFP), Chartered Life Underwriter, or Chartered Financial Consultant.

If you wish to position yourself as an expert in financial planning for anyone, including older adults, you should first consider earning one of the more traditional, comprehensive designations. Afterward, you could earn one of the designations focusing on older adults. At that point, your competence in the needs of this demographic would mean a great deal more as you've honed in on a specific topic while having a broad background in financial planning. You would also be subject to a code of ethics that can be enforced.

Given they often have access to savings that are meant to take them through their retirement years, older adults are frequently targeted by scam artists and charlatans. The National Council on Aging (NCOA) reports that in 2022, there were 88,262 complaints of fraud, resulting in $3.1 billion in losses from people age 60 and over. This may vastly underrate the problem, given that such frauds often go unreported, according to the NCOA. The most common scams involve impersonating government officials, supposed sweepstakes winnings, and robocalls.

As a result, state and federal regulators have taken notice of inadequate training and the business approach many certificate holders take to the financial matters of older adults. One of the main limits regulators face when dealing with this problem is that no overarching agency monitors the financial designation community like there is for insurance or securities licensing. Therefore, any “rogue” credential must be dealt with state-by-state.

The Certified Senior Advisor (CSA) designation is the most recognizable professional license. Though it still falls well short of the breadth and depth of wide-scale professional licenses, it remains a strong option for those looking for specific certification in the financial matters of older adults.

There are mixed opinions on the value of these license designations. Some argue any sort of formal training and exam provides value and boosts your credibility as a financial planner. Others point out the gap in education between these license designations and broader financial planner certifications. As long as your clients understand the limits of what the designation means, there is some value in pursuing them.

No, such license designations are often recognized on a state-by-state basis. Each state will have its own reporting requirements, and many limit the recognition of some designations. When a designation is limited in a state, the financial advisor can't use that title while pursuing sales of insurance or securities. To check whether your license is recognized in a specific state, check with that state's Department of Insurance.

While the differences between designations such as the CFP and CSA may be apparent to those in the business, most people looking for financial advice may have difficulty comprehending the gap in training between the two. Although it would be unfair to label every financial professional who holds a designation for advising older adults as dishonest, the increasing pressure from state regulators is making the future of these designations uncertain.

Advisors considering whether to pursue a designation for working with older adults may want to check with their state's insurance commissioner and securities bureau before enrolling in a program. While bogus designations can fool prospects and clients at least temporarily, regulators are certain to rectify the situation eventually.

CISSP Certification Requirements And Cost

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

The Certified Information Systems Security Professional (CISSP®) credential demonstrates mastery of developing and overseeing large-scale cybersecurity programs. When it comes to the best cybersecurity certifications, many consider CISSP the industry’s gold standard. Individuals who meet CISSP requirements can earn the certification and qualify to take on more professional responsibility in their cybersecurity jobs.

This guide offers information on CISSP certification requirements, including experience, suggested preparation times and CISSP certification exam costs.

CISSP certification, offered by (ISC)², is an advanced credential for information systems and cybersecurity professionals. This certification highlights an individual’s ability to create, deploy and manage cybersecurity efforts for large organizations.

CISSP certification requirements include a significant amount of professional experience and passing a lengthy exam. This credential suits experienced workers over entry-level and mid-level professionals.

Though this certification is not required by employers, it can boost candidates’ earning power and help them qualify for advanced roles in information security. CISSPs often work in positions like chief information security officer (CISO), network architect, security auditor and security manager, among others.

Aspiring CISSPs should familiarize themselves with the certification’s requirements before pursuing this credential.

CISSP certification requirements stipulate that each candidate must have a minimum of five years of relevant professional experience. (ISC)² specifies eight security domains:

Prospective CISSPs must accumulate experience in two of the eight domains to meet CISSP certification requirements. They can also apply (ISC)²-approved four-year college degrees and other credentials, which may qualify as a year of experience. Paid and unpaid internships also count toward the CISSP requirement.

The CISSP exam covers the eight domains of security in a four-hour test comprising 125 to 175 required responses. These appear as multiple-choice questions and advanced innovative items. Test-takers must earn a 700 out of 1,000 to pass. Candidates register to take the exam with Pearson VUE.

After passing the exam, individuals can apply for endorsement online. The endorsement must come from an (ISC)²-certified professional who can advocate for your professional experience as a credential-holder in good standing. Individuals must receive endorsements within nine months of passing the exam.

Earning CISSP certification can deliver many professional benefits, but individuals should also understand the costs associated with pursuing the credential. Along with the required time investment, consider the following CISSP certification exam costs and any required payments relating to preparation and recertification.

Many organizations offer prep courses for the CISSP certification exam, and their costs vary drastically. Make sure to include exam prep costs, which may range from a few hundred dollars to a few thousand, in your CISSP budget. (ISC)² offers several exam prep methods, including self-paced, instructor-led and team-based options.

The CISSP certification exam costs $749. Individuals can receive vouchers from partner organizations after completing CISSP exam training courses.

Individuals must meet CISSP recertification requirements every three years to maintain their credentials. Each certification holder must earn 120 continuing professional education (CPE) credits over this three-year period. Costs relating to CPEs can vary significantly, but each certified individual must pay an annual $125 fee to (ISC)².

Individuals who have met CISSP requirements and earned their credentials can pursue work in many information security and cybersecurity roles. As of 2023, the number of open cybersecurity roles far outpaces the number of qualified professionals, indicating strong continued demand in the sector.

We sourced salary information for this section from Payscale.

Data from Cyberseek.org indicates that among current cybersecurity openings requiring certification, CISSP ranks as the most in-demand credential. The following section explores roles for CISSP certification-holders.

Average Annual Salary: Around $173,500Required Education: Bachelor’s degree in cybersecurity, information security or a related field; master’s preferredJob Description: CISOs rank among the top positions in information security for responsibility and salary. This C-suite role reports directly to the CEO and requires significant experience, practical skills and expertise in information security.

CISOs oversee their organizations’ information security efforts. Often referred to as “chief security officers,” they supervise teams of infosec workers, set organizational directives, establish company-wide best practices and manage resource allotment. CISOs working in large, international businesses may interact with government agencies and congresspeople to ensure compliance with legal standards for information security.

Average Annual Salary: Around $125,000Required Education: Bachelor’s degree in computer science or related field, MBA degree often preferredJob Description: IT directors oversee departments of IT workers and manage organizations’ computer systems operations. They provide solutions to companies’ computer-related issues, including software upgrades, security concerns and general technical issues. IT directors communicate with executives to ensure company-wide directives are carried out successfully.

These directors research new IT software and hardware to keep their organizations up to date and safe. They track metrics for managing IT professionals, along with storage, hardware and software. IT directors also handle employee schedules and budget planning. As department heads, they must possess strong communication skills to interact with mid-level professionals and C-suite executives.

Average Annual Salary: Around $73,500Required Education: Bachelor’s degree in cybersecurity, computer and information technology or a related fieldJob Description: Security analysts work in computer systems, networks and information security departments to prevent, monitor and respond to security breaches. This broad professional title refers to workers who handle a variety of tasks in computer and network security.

These professionals work in many industries as “first responders” for cyberattacks. They must demonstrate deep knowledge of hardware, software and data storage to understand potential vulnerabilities and security solutions. Security analysts may help design security systems and handle encryption efforts for businesses to protect sensitive information.

Average Annual Salary: Around $126,000Required Education: Bachelor’s degree in network engineering or a related field; master’s in cybersecurity or a related field often preferredJob Description: Network architects design and implement organizations’ security infrastructures. These professionals test and analyze existing safety structures to identify vulnerabilities and improvements. They install and maintain computer systems, including interconnected devices like firewalls and routers.

Before deploying any updates or upgrades, these information security professionals create models to test their networks in a controlled environment. Modeling allows network architects to forecast security and traffic issues before implementing their infrastructures in the real world. They also train and educate IT workers on organizational best practices.

The two primary CISSP requirements are passing the exam and gaining five years of relevant professional experience.

No. CISSP certification suits experienced cybersecurity and information security professionals, requiring a minimum of five years of experience in the field.

Office of Doctoral Studies

All doctoral students must take a certification examination or examinations as part of their Certification (towards the Ed.D. and Ed.D. CTAS degree) or Master of Philosophy (towards the Ph.D. degree) requirements.

Most Certification Exams are taken on dates set by the college in February, June, and October, proctored by the Office of Doctoral Studies, however, some programs have take-home or internal examination requirements.

Please click your Department's link on the left to find the Certification Exam requirements for your program.

For those programs that require a Certification Exam Application form, it can be downloaded in the Forms section of our website. Please review our calendar to see when the next examination is being held and when the deadline for submission of the application form is.

Please see the following link for information on the college policy for Certification Exam retakes.

https://www.tc.columbia.edu/policylibrary/associate-provost-enrollment-services/doctoral-certification-examination-retakes/