PCA TPA/Recordkeeper Disclosures; PCAIAS Advisor Disclosures

  • Post date June 30, 2021

PCA TPA/Recordkeeper Disclosures; PCAIAS Advisor Disclosures

Pension Corporation of America of Cincinnati (PCA) provides Third Party Administration (TPA) and Record-keeping services for retirement plans as authorized and engaged by a named Plan Sponsor Administrator.

Plan Sponsors may choose to also engage other outside services providers in operation of their retirement plan. These outside service providers may include, but are not limited to; Investment Brokers, Registered Investment Advisors, Auditors, Consultants, Lawyers, and the like; of whom will operate as engaged in the scope and operation of a named Plan Sponsor Administrator's retirement plan. Any disclosures related to services specifically provided by an outside service provider named above or otherwise not named above, must be obtained directly from those entities.

In certain cases, a Plan Sponsors may choose to engage investment service providers that may be considered a related party to Pension Corporation of America of Cincinnati (PCA) through an ownership or agency relationship.

These entities include, but may not be limited to:

PCA Investment Advisory Services, Inc., a Registered Investment Advisory Firm.

PCA Investment Advisory Services, Inc. ("PCAIAS") is a registered investment adviser located in Cincinnati, Ohio. PCAIAS may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. PCAIAS's web site is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of PCAIAS's web site on the Internet should not be construed by any consumer and/or prospective client as PCAIAS's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by PCAIAS with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of PCAIAS, please contact the state securities regulators for those states in which PCAIAS maintains a registration filing. A copy of PCAIAS's current written disclosure statement discussing PCAIAS's business operations, services, and fees is available at the SEC's investment adviser public information website - www.adviserinfo.sec.gov or from PCAIAS upon written request. PCAIAS does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to PCAIAS's web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

This website and information are provided for guidance and information purposes only. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy. This website and information are not intended to provide investment, tax, or legal advice.

Disclosure for Client Reviews:   All Google or Online Reviews to which PCA has responded with a link to this disclosure represent testimonials provided by current or past PCA clients. No compensation, either direct or indirect, was received in exchange for the testimonial, and there are no known additional conflicts of interest between PCA and the individual. None of the information provided should be construed as legal or investment advice or a recommendation of any particular security or strategy. For additional information about the firm, including our Form ADV Part 2A and any relevant conflicts of interest that may exist, please visit https://adviserinfo.sec.gov or contact us at 513-281-3366 M-F, EST.

 

Professional Designations

 Accredited Investment Fiduciary® professional

The Accredited Investment Fiduciary® (“AIF®”) is a professional certification issued by Fi360’s Top Management and the Center for Fiduciary Studies (“The Center”) that demonstrates an advisor or other person serving as an investment fiduciary has met certain requirements to earn and maintain the credential.

Fi360, Inc. is a business legally incorporated in the state of Delaware and has been providing innovative solutions to financial services providers and other investment fiduciaries since 1999. Fi360’s parent company, Broadridge Retirement and Workplace, Inc., grants authority to Fi360’s Top Management and The Center to make essential certification decisions related to standards, policies, and procedures of the certifications. The Center is a division of Fi360 that is responsible for the management of the certification program and is comprised of the certain staff and the Certification Oversight Committee and its advisory commissions.  Those decisions are made independently of and under no influence by any other individual or business entity within or outside of Fi360.

AIF® professionals may refer to themselves as Accredited Investment Fiduciary® or an AIF® professional and use these designation marks.  The AIF® certification is voluntary.  No federal or state law or regulations requires advisors or other persons serving as an investment fiduciary to hold AIF® certification. You may find more information about the AIF® certification at https://www.fi360.com/what-we-do/learning-development/aif-training/aif-designation

To become an AIF® professional, an individual must meet the following requirements:

  • Training- complete AIF® training through Fi360 or other qualified providers. This training prepares investment professionals and those managing investments on behalf of others to carry out their fiduciary responsibilities.
  • Examination- Pass the AIF® The examination is designed to assess an individual’s ability to apply duties an advisor in a fiduciary role would be expected to perform.
  • Experience- one of the following combinations of education, industry experience and/or professional development:
    • Minimum of two (2) years of relevant experience PLUS a bachelor’s degree (or higher) from an accredited U.S. college or university PLUS a professional designation
    • Minimum of five (5) years of relevant experience PLUS EITHER a bachelor’s degree (or higher) from an accredited U.S. college or university OR a professional designation
    • Minimum of eight (8) years of relevant experience
  • Ethics and Standards- review and attest to the Code of Ethics and meet the Conduct Standards, which sets forth the ethical and practice standards for AIF®

Individuals who become certified must complete the following ongoing education and ethics requirements to remain certified and maintain the right to continue to use the AIF® designation marks.

  • Ethics and Standards- Satisfy the Code of Ethics and the Conduct Standards and attest to these annually. Fi360 may sanction an AIF professional who does not abide by this commitment.
  • Continuing Education- Complete six (6) hours of continuing education, four (4) of which must be delivered by Fi360 or one of Fi360’s approved continuing education providers.

Certified Financial Analyst ® (CFA®)

The Chartered Financial Analyst ® designation is owned by the CFA Institute and is known for demonstrating superior competency in advanced portfolio management, financial expertise, and technical skills, underpinned by ethical conduct and the highest standards of practice. You may find more information about the CFA® designation at https://www.cfainstitute.org/programs/cfa-program#overview.

To become a CFA charterholder and earn the right to use the CFA® designation, an individual must fulfill the following requirements:

  • Education – have one of the following:
    • Complete bachelor’s program or equivalent program and received a degree from the college/university
    • Be an undergraduate student. The selected exam window much be 23 months or fewer before your graduation month for your bachelor’s degree or equivalent program.  To sit the Level II exam, the student must be within 11 months of graduation.  For the Level III exam, the student must have completed their bachelor’s degree or accrued 4,000 hours of professional work experience.
    • Have a combination of 4,000 hours of work experience and/or higher education that was acquired over a minimum of three sequential years and achieved by the date of registering for the Level 1 exam
  • Examination – complete Level I, II and III examinations
  • Experience –4,000 hours of work experience
  • Ethics – Follow the CFA Institute Code of Ethics and Standards of Professional Conduct (Code and Standards).

Individuals who become certified must complete the following membership and ethics requirements to remain certified and maintain the right to continue to use the CFA Institute’s designation.

  • Membership- Satisfy CFA Institute annual membership requirements
  • Ethics – Commitment to abide by the requirements of the Code and Standards and the CFA Institute’s Professional Conduct Program.

CERTIFIED FINANCIAL PLANNER™ professional

The CERTIFIED FINANCIAL PLANNER™ professional designation is issued by the Certified Financial Planner Board of Standards, Inc. (“CFP Board”) and certifies that the professional is certified for financial planning services in the United States.

Therefore, the professional may refer to themselves as a CERTIFIED FINANCIAL PLANNER™ professional or a CFP® professional and may use these and CFP Board’s other certification marks (the “CFP Board Certification Marks”). The CFP® certification is voluntary. No federal or state law or regulation requires financial planners to hold the CFP® certification. You may find more information about the CFP® certification at https://www.cfp.net.

CFP® professionals have met CFP Board’s high standards for education, examination, experience, and ethics. To become a CFP® professional, an individual must fulfill the following requirements:

  • Education – Earn a bachelor’s degree or higher from an accredited college or university and complete CFP Board-approved coursework at a college or university through a CFP Board Registered Program. The coursework covers the financial planning subject areas CFP Board has determined are necessary for the competent and professional delivery of financial planning services, as well as a comprehensive financial plan development capstone course. A candidate may satisfy some of the coursework requirement through other qualifying credentials. CFP Board implemented the bachelor’s degree or higher requirement in 2007 and the financial planning development capstone course requirement in March 2012. Therefore, a CFP® professional who first became certified before those dates may not have earned a bachelor’s or higher degree or completed a financial planning development capstone course.
  • Examination – Pass the comprehensive CFP® Certification Examination. The examination is designed to assess an individual’s ability to integrate and apply a broad base of financial planning knowledge in the context of real-life financial planning situations.
  • Experience – Complete 6,000 hours of professional experience related to the personal financial planning process, or 4,000 hours of apprenticeship experience that meets additional requirements.
  • Ethics – Satisfy the Fitness Standards for Candidates for CFP® Certification and Former CFP® Professionals Seeking Reinstatement and agree to be bound by CFP Board’s Code of Ethics and Standards of Conduct (“Code and Standards”), which sets forth the ethical and practice standards for CFP®

Individuals who become certified must complete the following ongoing education and ethics requirements to remain certified and maintain the right to continue to use the CFP Board

Certification Marks:

  • Ethics – Commit to complying with CFP Board’s Code and Standards. This includes a commitment to CFP Board, as part of the certification, to act as a fiduciary, and therefore, act in the best interests of the client, at all times when providing financial advice and financial planning. CFP Board may sanction a CFP® professional who does not abide by this commitment, but CFP Board does not guarantee a CFP® professional's services. A client who seeks a similar commitment should obtain a written engagement that includes a fiduciary obligation to the client.
  • Continuing Education – Complete 30 hours of continuing education every two years to maintain competence, demonstrate specified levels of knowledge, skills, and abilities, and keep up with developments in financial planning. Two of the hours must address the Code and Standards.

Certified Investment Management Analyst® professional

Investments & Wealth Institute® (the Institute) is the owner of the certification marks “CIMA®,” and “Certified Investment Management Analyst®”.  Use of CIMA® and/or Certified Investment Management Analyst® signifies that the user has successfully completed the Institute’s initial and ongoing credentialing requirements for investment management professionals.  You may find more information about the CIMA® credential at https://investmentsandwealth.org/certifications/cima-certification

To become a CIMA® professional, an individual must fulfill the following requirements:

  • Education- Complete executive education program with registered education provider. The coursework covers the investment industry’s specific, technical body of knowledge areas needed to navigate the entire portfolio construction and investment consulting process as determined by industry practitioners via a job task analysis study that is updated every five to seven years.
  • Examination- Pass the comprehensive CIMA® Certification Examination. The examination is designed to test a candidate’s knowledge and skills in the areas of work performed by an investment management consultant/advisor.
  • Experience- Demonstrate a minimum of three (3) full years of verified professional experience in financial services or related industry,
  • Ethics- Pass the background check requirements, complete license agreement and agree to adhere to both the Institute’s Code of Professional Responsibility, which was adopted to promote and maintain a high standard of professional conduct in the investment consulting and wealth management disciplines, and the Rules and Guidelines for the Use of the Marks.

Certificants must complete the following ongoing education and ethics requirements every two years to remain certified and maintain the right to continue to use the Institute’s Certification Marks.

  • Ethics- Commit to complying with the Institute’s Code of Professional Responsibility. This includes a commitment to acting in the best interest of the client.  The Institute my discipline a CIMA® professional who does not abide by this commitment, but the Institute does not guarantee a CIMA® professional’s services.
  • Continuing Education- Complete and report a minimum of 40 hours of continuing education (CE), two of which must be ethics credits and one must be tax or regulatory credits.

Qualified Plan Financial Consultant (QPFC)

The National Association of Plan Advisors (NAPA) is the owner of the credential QPFC.  Use of the QPFC credential signifies that individuals have an acceptable level of knowledge and proficiency necessary to administer retirement plans. Credentialing requirements include exam and ethics components – more information is available at https://www.napa-net.org/education/credentials/cpfa-credential-candidate-handbook/#NAPACPFACredentialRequirements. Candidates may elect to use the Qualified Plan Financial Consultant (QPFC) credential if their broker/dealer requires use of QPFC rather than CPFC® on advertising material.  The coursework, exam and application requirements are the same for both the QPFC and the CPFA®.

To become a QPFC professional, an individual must fulfill the following requirements:

  • Examination- Pass the NAPA CPFA® Certification Examination.  The exam assesses a candidate’s knowledge of key retirement plan concepts commensurate with professional retirement plan advisor standards.
  • Ethics- Agree to abide by the ARA Code of Professional Conduct.

Credentialed members must complete the following ongoing education and ethics requirements every year to remain credentialed and maintain the right to continue to use the QPFC credential.

  • Ethics- Agree to abide by the ARA Code of Professional Conduct.
  • Continuing Education- Complete and report a minimum of ten (10) hours of continuing education (CE), four (4) of which must cover nonqualified plan relevant topics, and one (1) hour must address professional ethics and the ARA’s Code of Professional Conduct.

Qualified 401(k) Administrator (QKA®)

The American Society of Pension Professionals & Actuaries (ASPPA) is the owner of the credential QKA®.  Use of the QKA® credential attests that the holder possesses the knowledge and skills required to implement and administer defined contribution plans. Credentialing requirements include education, exam and ethics components – more information is available at https://www.asppa-net.org/certificates-credentials/qka-credential-candidate-handbook/#ASPPAQKACredentialRequirements.

To become a QKA®  professional, an individual must fulfill the following requirements:

  • Education- Have either 3 years’ experience in retirement plan administration or completed the Retirement Plan Fundamentals (RPF) certificate course
  • Examination- Pass the QKA-1 and QKA-2 Credential Exams
  • Ethics- Agree to abide by the ARA Code of Professional Conduct.

Credentialed members must complete the following ongoing education and ethics requirements every two years to remain credentialed and maintain the right to continue to use the QKA®  credential.

  • Ethics- Agree to abide by the ARA Code of Professional Conduct.
  • Continuing Education- Complete and report a minimum of forty (40) hours of continuing education (CE), thirty-eight (38) of which must cover retirement plan relevant topics, and a minimum of two (2) hours must address professional ethics and the ARA’s Code of Professional Conduct.

Chartered Retirement Planning Counselor TM (CRPCTM)

The College for Financial Planning ® is the owner of the certification mark CRPCTM.  The CRPCTM certification program is for experienced financial advisors who wish to offer more comprehensive retirement advice to individual clients. Certification requirements include education, exam and ethics components – more information is available at https://www.cffp.edu/professional-designations.

To become a CRPCTM professional, an individual must fulfill the following requirements:

  • Education- completion of Chartered Retirement Planning Counselor TM course
  • Examination- Pass the Final Exam
  • Ethics- Acknowledge adherence to Standards of Professional Conduct

Certified members must complete the following ongoing education and ethics requirements every two years to remain certified and maintain the right to continue to use the CRPCTM certification.

  • Ethics- Acknowledge adherence to Standards of Professional Conduct
  • Continuing Education- Complete and report a minimum of sixteen (16) hours of continuing education (CE) which must cover relevant topics and professional ethics.

Qualified 401(k) Consultant (QKC®)

The American Society of Pension Professionals & Actuaries (ASPPA) is the owner of the credential QKC®.  Use of the QKC® credential demonstrates comprehensive understanding of 401(k) plan design.  Credentialing requirements include experience, education, exam and ethics components – more information is available at https://www.asppa-net.org/certificates-credentials/QKC/

To become a QKC® professional, an individual must fulfill the following requirements:

  • Experience/Education- Hold the QKA® credential
  • Examination- Pass the QKC® exam
  • Ethics- Agree to abide by the ARA Code of Professional Conduct.

Credentialed members must complete the following ongoing education and ethics requirements every two years to remain credentialed and maintain the right to continue to use the QKC®  credential.

  • Ethics- Agree to abide by the ARA Code of Professional Conduct.
  • Continuing Education- Complete and report a minimum of forty (40) hours of continuing education (CE), thirty-eight (38) of which must cover retirement plan relevant topics, and a minimum of two (2) hours must address professional ethics and the ARA’s Code of Professional Conduct.