Certified Military Financial Advisor Program

    $1,150.00

    The Certified Military Financial AdvisorTM program was developed for financial advisors who are looking to differentiate themselves in the market by gaining specialized designations.

    The course provides an interactive and content rich learning experience, designed to help students successfully reach designation status. Included in this course:

    Online access to course content.

    Six (6) months of access.

    Certificate of completion

     


    Coming soon!

     

    VETNET and the CMFA Certification

    The Veteran’s Business Resource Network (VETNET)

    Aligns advisors working with military clients to documentation on best practices

    • The Advisor Handbook for Military Clients
    • Developed through collaboration between the VETNET and advisors specializing in military clients.
    • Provides context and resources for topics that you will likely encounter. Learn more by reading the handbook.
    Certification Program Details

    Length of time: 2 years

    Designation status start date: June 2024

    CE: After June 2024

    Vendor: Dalton Education (CeriFi)

    One-time cost: $1,150 (per advisor)

    Time to Complete: Est. 55 hours

     

    The CMFA Certification benefits

    Advisors who obtain a CMFA certification:

    • Are more competent and confident to work with the unique aspects of this client segment.
    • Can attract new active military and veterans as clients.
    • Improve service for and deepen relationships with active and veteran clients and increase the number of military clients and families that they serve.
    • Are positioned as first-to-market/certification for this client segment during the two-year exclusive certification period.
    • Certified advisors will be grandfathered in for transition to designation status after two years after completing the CE credit.
    • Use of secondary title – Certified Military Financial Advisor (optional)
    • Marketing materials (e.g., announcement letters for clients)
    • Network of CMFAs in TPAG Salesforce and Dalton Education to share best practices.

    Learning outcomes of the CMFA program include:

    Active Duty Benefits and Programs
    • Describe the most common pays and allowances.
    • Recognize key information found on a military Leave and Earnings Statement.
    • Describe why military compensation can change from month to month and suggest how a military family can budget for that.
    Guards and Reserves Benefits and Programs
    • Understand the similarities and differences between Reserve Component and Active Duty forces.
    • Understand how Guard and Reserve forces pay and allowances work.
      • Understand Guard and Reserve pay during a “Good Year.”
      • Understand Guard and Reserve pay when activated or deployed.
      • Understand the protections provided to Reserve Component members by the Uniformed Services Employment and Reemployment Rights Act (USERRA, 1994).
    • Identify Reserve Component member’s tax benefits.
    Veterans Benefits and Programs
    • Identify the factors that impact a veteran’s access to health care through the Department of Veterans Affairs.
    • Compare and contrast Veterans Affairs (VA) home loans with civilian home loan products.
    • Explain which veterans and family members may be eligible to use the Post-9/11 GI Bill, and when their eligibility expires.
    Retired Service Members Benefits and Programs
    • Explain how TRICARE for military retirees is different from TRICARE for active duty families.
    • Know where to find TRICARE cost information.
    • Recognize that TRICARE works differently for medical retirees.
    Education Benefits
    • Active-Duty Military Education Benefits
      • Identify the various military education programs and benefits associated with each of them.
      • Explain how to use Tuition Assistance to pay for education.
      • Determine how service commitments correspond to each education benefit and the subsequent career impacts.
    • Veteran Education Benefits
      • Describe the Montgomery and Post-9/11 GI Bill education benefits and how they can be used.
    • Military Family Education Benefits
      • Identify the military education benefits available to dependents of service members.
      • Determine how to integrate Post-9/11 GI Bill education benefits for dependents as part of overall education funding.
      • Calculate education funding integrating other funding sources including the American Opportunity Tax Credit, 529/Coverdell funds, and distribution across multiple dependents education funding.
    Life Insurance
    • Evaluate and understand the eligibility requirements, available benefits, beneficiary requirements, and conversion requirements for Servicemembers’ Group Life Insurance (SGLI).
    • Evaluate and understand the eligibility requirements, available benefits, and structure of premiums for Traumatic Injury Protection (TSGLI).
    • Evaluate and understand the eligibility requirements, available benefits, beneficiary designation, premium structure, and conversion process for Veterans’ Group Life Insurance (VGLI).
    Survivor’s Benefits
    • Express how to identify a military member’s status and describe how that impacts benefits at death and for survivors’ pedagogy.
    • Explain basic and key characteristics of the military’s Survivor Benefit Plan (SBP).
    • Explain basic and key characteristics of Dependency and Indemnity Compensation (DIC).
    Transitioning from Military Service
    • Understand the pre-transition preparation process
      • Compare and contrast the types of transition from the military service.
      • Explain how income and expenses may change after military service.
      • Identify the top planning considerations for a client’s transition plan.
    • Illustrate the client’s transition allowance and benefits
      • Choose the client’s final moving entitlements based on characteristics of their separation.
      • Construct a plan that uses leave in the best way to meet the client’s goals.
    • Illustrate the importance of the Survivor Benefit Plan (SBP) decision
      • Identify considerations in the SBP process.
      • List the advantages and disadvantages of SBP versus life insurance.
    Retirement Benefits
    • Identify the defined benefit and defined contribution retirement benefits.
    • Describe the military’s defined contribution plan (Thrift Savings Plan, or TSP).
    • Describe the Legacy Retirement Systems.
    Disability Benefits
    • Identify veterans who may be eligible for disability compensation.
    • Illustrate the disability compensation application process.
    • Describe the benefits of working with a Veterans Service Officer (VSO).
    Tax Planning Considerations
    • Understand the tax treatment of various forms of military pay.
    • Understand the difference between pays & allowances.
    • Become familiar with some of the more common pays & allowances.
    Divorce Considerations
    • Describe how military service can impact a divorce.
    • Explain when the military family support regulations do and do not apply.
    • Illustrate why a client wants a lawyer and mediator that has experience with military divorce.
    Estate Planning Considerations
    • List the goals, objectives, and risks of estate planning.
    • Understand the estate planning process as it pertains to service members.
    • Understand basic estate planning documents and how service members may be able to obtain them.
    Service Members with Special Needs Dependents
    • Define special needs for purposes of military benefits.
    • Describe eligibility for the Exceptional Family Member Program.
    • List benefits and services provided by the Extended Health Care Option.