Wanted: Expert retirement advisers

Advisers soon may be able to pursue a new designation that would formally qualify them as experts in managing investment portfolios during their clients' retirement years. The Boston-based Retirement Income Industry Association is in the process of designing this new certification — which has been dubbed retirement management analyst — confirmed chief operating officer Steve Mitchell. "We're aiming to develop a curriculum that trains advisers and gives them the ability to demonstrate competency in managing clients' assets all the way through their retirement years," he said in an interview. "This designation will specifically focus on the ‘decumulation’ of client assets, rather than just accumulation phase," Mr. Mitchell added. He said that a final framework will be established by the end of this year. Such a designation has been in demand from a number of RIAA's member firms, Mr. Mitchell added, which consist of financial advisers, asset managers, insurers and other providers. With a growing number of clients clamoring for retirement income strategies as of late, and more new products hitting the markets, the designation is a natural and necessary evolution for the industry, he stated.