Continuing education credits can influence the success of training and education programs for investment advisors offered by fund manufacturers and distributors, according to a study released by Credo Consulting Inc. and Financial Research Corp.
In a survey of over 300 advisors, 44% of respondents indicated that CE credits are a key consideration, but would do programs without accreditation, and a further 11% would only participate in a program if it has CE credits.
The top two education programs named by advisors in the survey were AIM/Trimark’s Professional Development Days and Mackenzie University for providing strong speaker line-ups and solid business building information.
Also as part of the study, Credo and FRC examined the key success factors of content development, delivery options and success measurement from three perspectives: the advisor; the distributor; and the fund manufacturer in both the U.S. and Canadian asset management industries.
“Value-added programs are seen as an important piece of arsenal in the battle for new sales as well as asset retention with Canadian advisors,” said Cynthia Enns, partner at Credo Consulting Inc., in a release. “Hot topics continue to be under the business consultancy/practice management umbrella and CE accreditation is a key component particular to the Canadian marketplace.”
Other key findings from the study include:
- Nearly all advisors surveyed indicated that they were planning to maintain (62%) or increase (25%) their participation in training and education programs in the next 12 months;
- The preferred delivery method for value-added programs is having an expert speaker as indicated by 61% of advisors surveyed; and
- Restrictive interpretations of the Sales Practices Code is a primary issue facing the future of Value-Added Programs in Canada.
Credo Consulting Inc. is a research and consulting firm. The firm’s clients include Canada‚s leading asset managers and distributors that represent 90% of the assets under management in Canada.