As of November, a new online retirement study program will be available to retirement professionals.
The self-study program is being launched by LOMA, formerly known as the Life Office Management Association, which represents members across the world.
LOMA says the program teaches the retirement business from the perspective of participants, sponsors, advisors and providers. “LIMRA research indicates that there will be $22 trillion in financial assets available for retirement income products by 2020—creating a more diverse, complex and competitive market,” says Kathy Milligan, senior vice-president of LOMA’s education and training division. “Companies in this market need employees who have the knowledge and skills to support retirement plans and products while delivering effective service and solutions to both customers and advisors.”
Creators of the program say it provides a comprehensive curriculum for employees in asset management firms, insurance companies, distribution organizations and recordkeeping companies. Its goal is to help employees understand the plans and products they support, the role of those plans and products within a retirement plan, and the complex retirement planning decisions their customers are facing.