There are several reasons why a firm might prefer a retail continuing education offering over a larger enterprise solution. Each option has its own set of advantages and disadvantages, and the decision depends on the specific needs and circumstances of the firm. Here are some reasons a firm might opt for a retail continuing education offering:

Reasons to Consider a Retail Education Solution 

There are several reasons why a firm might prefer a retail continuing education offering over a larger enterprise solution. Each option has its own set of advantages and disadvantages, and the decision depends on the specific needs and circumstances of the firm. Here are some reasons a firm might opt for a retail continuing education offering: 

Cost-effectiveness: Retail continuing education offerings are often more budget-friendly compared to larger enterprise solutions. Firms, especially smaller ones, may find it more financially viable to purchase pre-packaged courses or modules that specifically address their compliance and training requirements. Such offerings are typically priced at a lower cost, making them a practical choice for companies with limited resources. 

Flexibility and Speed: Retail continuing education programs can be accessed and deployed quickly, allowing firms to respond promptly to regulatory changes or emerging training needs. Unlike larger enterprise solutions that may require customization and setup time, retail offerings are ready-made and can be easily integrated into existing training processes. 

Minimal IT Infrastructure Resource Requirements: Retail continuing education offerings are often cloud-based and require minimal IT infrastructure to implement. This can be beneficial for smaller firms with limited IT resources and capabilities. The simplicity of these solutions allows for quick adoption and reduces the burden on the firm’s IT department. 

Avoiding Overwhelm: Larger enterprise solutions may come with a wide array of features and functionalities, which might be overwhelming for smaller firms or those with simpler training needs. Retail continuing education offerings provide a streamlined and straightforward approach to compliance training, which may be preferable for some firms. 

Key Factors to Look for in a Retail Solution Provider

A retail education solution is appropriate for financial professionals who want to stay updated on the latest regulations, products, and best practices in the financial industry. However, not all retail education providers are created equal. Companies who want a retail education solution for their financial professionals should make sure their retail providers have the following features: 

Wide variety of services available: Financial professionals need to complete distinct types of education depending on their licenses, certifications, and affiliations. A retail education provider should offer a wide range of services, such as FINRA Firm Element, Insurance Continuing Education, Investment Adviser Representative Continuing Education, Annual Compliance Meetings, and Annual Compliance Questionnaires. 

100% self-service: Financial professionals and managers should be able to access and manage their education programs anytime, anywhere, without relying on external support. A retail education provider should allow users to build catalogs, add and assign users, bulk user import, and customize their learning paths. 

Multiple reports: Financial professionals and managers should be able to track and measure their education progress and performance with various reports. A retail education provider should offer reports on completion status, exam results, course feedback, compliance status, and more. 

Comprehensive Dashboards: Financial professionals and managers should be able to see a snapshot of their education program at a glance. A retail education provider should offer dashboards that show the overall progress of the program, the requirements across all education products, and the notifications tied to the program status. 

Multiple Designation Credits: Another feature that companies should look for in a retail education provider is the availability of multiple designation credits. Financial professionals who have earned professional designations need to maintain their credentials by completing continuing education credits. By choosing a retail education provider that has multiple designation credits available, companies can ensure that their financial professionals can fulfill their continuing education requirements and keep their skills and knowledge up to date. A retail education provider should offer designation credits from various reputable organizations, such as: 

  • CFFP – College for Financial Planning, which offers designations such as AAMS®, ABFP®, ADPA®, APMA®, AWMA®, CRPC®, CRPS®, CSRICTM, FPQPTM, LUTCF®, MPAS®, and WMS SM®. 
  • The American College, which offers designations such as CAP®, CHFC®, CHSNC®, CLU®, and WMCP®. 
  • CPCU® – Chartered Property Casualty Underwriter, which is a designation for property and casualty insurance professionals. 
  • IWI – Investments & Wealth Institute, which offers designations such as CPWA, CIMA, RMA, and CIMC. 

By choosing a retail education provider that has these features, companies can ensure that their financial professionals receive high-quality, relevant, and convenient education that enhances their knowledge and skills. 

Design Your Own Custom Training Program with RegEdXpress

As the industry leading provider of Compliance Education solutions, RegEd is excited to announce that we continue to expand upon and enhance our self-service education platform capabilities provided by RegEdXpress! RegEdXpress enables you to quickly register and begin to satisfy annual compliance and training requirements for your company or team

What RegEdXpress Offers:

Easily self-select the specific services that meet your needs, including: 

  • Investment Adviser Representative CE 
  • Firm Element 
  • Insurance CE 
  • Annual Compliance Questionnaire (ACQ) 

Access a centralized dashboard for self-configuration, including: 

  • User Management 
  • Designing Course Catalogs 
  • Assigning Users based on Education needs 
  • Email Notifications 
  • Reporting and Program Progress 

Additional highlights: 

  • Self-manage your program on your own time, without the need for external support 
  • Access to the industry’s largest catalog of courses, at a price point that fits your budget 
  • Quick and easy payment via credit card 
  • Leverage RegEd’s Enterprise Education Platform to support your future growth with a scalable, unified Education platform 

Click here to launch your program in as little as 30 minutes or click here for a free consultation to determine what program offering best serves you and your team

 

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