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Frequently Asked Questions
 

Q. How do CWPP™ and CAPP™ differ from other certifications?

A.
How does CWPP™ and CAPP™ differ from other certifications?
 

Comparison Between CWPP™, CAPP™ and Other Certification Courses 

The CWPP™ course is much different than a CFP, CLU. and the other certification courses in several ways: 

            1) CWPP™ is the only certification program that specifically and extensively deals with the ever-important topic of asset protection.  As an example of how important the topic of asset protection is for advisors to learn, see the following quote from an advisor who added asset protection to the list of topics he deals with. 

Roccy, 

Your book The Doctor’s Wealth Preservation Guide is great.  I have read it twice now in the past couple of weeks.  It has helped me with numerous doctor prospects.  It has been so much easier to schedule appointments with doctors now that I focus on asset protection instead of trying to sell them something. 

Asset protection is the most important aspect for the doctor.  Everything sells itself. I may have some questions about some of your ideas. 

Thanks again.

Brandon H., MBA 

            NO estate or financial plan can be complete if asset protection is not incorporated into the plan.  The most expensive and “best” plan can be rendered meaningless with one negligence verdict.  A negligence verdict is not just an issue for doctors, lawyers, CPAs/accountants, architects, financial planners, insurance advisors, and other “professionals” who have personal liability.  Asset protection is an issue for any client who drives a car, owns a house or rental property, has teenage children, or runs a business. 

            2) The CWPP™ is officially endorsed by the National Society of Accountants.

            3) CWPP™ advisors have the ability to give continuing education seminars for CPAs/accountants or attorneys (and soon insurance advisors) under the continuing education wing of The Wealth Preservation Institute.

            4) The CWPP™ and CAPP™ courses are the only courses in the industry that require advisors to pass an essay test.  While advisors, if they study hard enough, can figure out a way to pass a multiple choice question test, there is no way to guess your way through an essay test. By completing and passing the essay portion of the certification test, advisors will truly be certified that they know how to apply the information learned in the course. 

5) The term “Wealth Preservation” is a more all encompassing title than the other certification programs. Wealth preservation includes education on life insurance, financial planning, tax planning, asset protection, estate planning, real estate transactions, and running a business in a cost-effective manner. 

            When reviewing the other certification courses available, ask whether those courses educate on the following topics: 

-Asset protection (both domestic and offshore) (3 hours) 

           

-Deferred Compensation

            -ABC Plan/WealthBuilder Annuity

                        -Leverage Bonus Plan (the new “NQDC”)

           

-Estate Planning (3 hours)

                        -Intentionally Defective Grantor Trusts (IDGTs)

                        -Self Canceling Installment Notes (SCINs)

                        -Private Annuity Transactions

                        -Preferred and Non-Preferred LLCs for Estate Discounting

                        -FLPs and Discounting for Estate Planning

 

-Accounts Receivable (A/R) Leveraging/Financing

 

-The Maximizer

 

-Life Settlements

 

-Advanced IRA Planning

 

-Charitable Planning

 

-Mortgages (Equity Harvesting and the 1% CFA) 

 

-Reverse Mortgages

 

-Section 79 Plans

 

-Voluntary Employee Benefit Associations (VEBAs)

 

-International Tax Planning 

 

-Qualified Plans (including carve-out planning) (2 hours)

 

-Qualified Plan Insurance Partnership (QPIP)®  

 

            -Health Insurance (cost reduction strategies)

 

-ESOPs

 

-Annuities

 

-Life Insurance

           The above listed topics are topics that can benefit high income/high net worth clients. Those advisors who know the above-listed topics will have the needed knowledge to put together a “complete” asset protection plan, financial plan, and estate plan for clients.  Without knowing these topics, advisors will only be able to implement the every day solutions that have been around of the last 20+ years.  The CWPP™ course and its topics are unlike any other and can help advisors take their consulting practice to the next level by providing unique advice that best can help our most important clients (the ones with a high income or net worth). 

6) The CWPP™ course is one that will teach advisors important information but also practical information that can be immediately applied in practice to help clients. Many of the certification courses in the marketplace fill hours in their courses with topics advisors do not need to know to give complete and practical advice to clients.  The WPI is confident that, when advisors complete a WPI certification course, they will be able to pay for the cost of the course in short order by helping existing clients with the topics learned or by being able to cultivate new clients. 

7) The CWPP™ is a program that can be obtained at live, in-person seminars over a weekend “crash” course and at a price that is affordable for most advisors.  The course is also given in three days during normal 8-5 business hours. 

8) The CWPP™ is a program that can be finished completely online (which is a huge benefit to those that do not have the time or money to spend at a two or three day conference). 

9) The CWPP™ program has 640+-pages of text advisors receive when signing up for the course.  The CWPP™ textbook is one every advisor can keep for years to come as a research tool when trying to outline the best course of action for clients.

10) The CAPP™ course is the ony asset protection education course in the country. The course has over 500 pages of text and is on one of the hottest topics in the affluent market (how to protect wealth). The CAPP™ course is a great way to help you market to and pick up high income/net worth clients on non-product pushing topics.

11) The WPI is a terrific continuing education entity that sends out newsletters to advisors when important information arises on the topics covered in WPI courses.  When advisors deal with “advanced” topics, they must keep on top of law changes that inevitably take place so that any alterations to a client’s plan can be implemented. 

12)  Online educational tools.  Once an advisor obtains a WPI educational certificate, they will have at their disposal through the WPI website PowerPoint presentations on all the topics that can be used for continuing education for the advisors or as a sale’s tool for an advisor when working with clients. 

            FYI, “Beginning in 2007, candidates for the Certified Financial Planner certification must have a bachelor's degree, in any discipline, in order to obtain CFP certification.”  

            Those on the educational board of the WPI do not believe a college education is required to be a CWPP™ or CAPP™.  There are many people with BS, BA, MBA, JD, and CPA degrees or certifications who know very little about estate, tax, or asset protection planning; and there are many people without any degree who know a significant amount about those topics.   

            The only requirement to pass a WPI certification course is that advisors not have a criminal record and have the wherewithal to sit through a certification course and pass the multiple-choice and essay exams.

 
 
 

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