Wealth Management Specialist (WMS)

Credential issued and maintained by

College for Financial Planning (Kaplan)

Continuing education requirements for WMS:

16 CE credit hours every two years

Note:  the terms CE (Continuing Education) and CPE (Continuing Professional Education) are used interchangeably here.

CPE Providers accepted

CPE courses can be taken from any provider.

Subject matter requirements

The WMS designation does not have specific subject matter requirements.

CE courses are expected to generally help maintain knowledge of current industry trends in the financial market.

Students often select courses related to or updating topics originally discussed in the WMS credential program materials:

  • Fundamental Considerations in the Wealth Management Process
  • Time Value of Money Principles
  • Measurement of Risk and Return
  • The Asset Allocation Process
  • Investment Strategies
  • Tax Implications and Strategies in the Financial Planning Process
  • Credit and Lending
  • Insurance Products in Wealth Management
  • Education Funding
  • Business Ownership and Planning
  • Retirement Planning Considerations
  • Equity Compensation
  • Estate Planning

FunCPE courses

FunCPE courses are acceptable for WMS CE credit. CRPCs in every state can receive credit for our courses. All FunCPE courses meet standard CE program development criteria.

Which FunCPE courses are valid for WMS CPE credit

All courses except ethics are acceptable for WMS credit. The college for Financial Planning recommends that you select courses that are relevant for your situation specifically.

Our ethics courses are not appropriate because they cover IRS specific rules.

We welcome you to our site and would like to serve your needs better. Please contact us with any suggestions for new course topics for Wealth Management Specialist specifically.

Accepted CPE subjects

CPE courses on the following subjects are examples of commonly accepted areas of study:

  • 401(k) Plans
  • Annuities
  • Asset Allocation
  • Financial Challenges Facing Retirees
  • Financial Planning Process
  • Financial Products
  • Indexed Products
  • Introduction to Life Insurance
  • Introduction to Trusts
  • Investing Retirement Assets
  • Life Insurance Underwriting
  • Long-Term Care
  • Beneficiary Designation Planning

General subjects suggested

  • Retirement Planning
  • Estate Planning
  • Financial Planning
  • Life Insurance
  • Health Insurance

Education program criteria

Continuing education (CE) can be taken from any provider for College for Financial Planning credentials.

While the College for Financial Planning does not have specific course requirements, all FunCPE courses meet standard CPE program criteria, such as those prescribed by the Internal Revenue Service and the State Boards of Accountancy, among others.

Courses must:

  • contribute to the professional competence of participants;
  • state program objectives which specify the level of knowledge the participants should have attained, or the level of competence to be demonstrated upon completing the program;
  • state education or experience prerequisites, if appropriate for the program;
  • be developed by individuals qualified in the subject matter and instructional design;
  • provide program content which is current;
  • be on a professional level.

Renewal process

Certificate renewal date is based on original date credential obtained.

The non-refundable renewal fee is $95 per designation* for a two-year period. A non-refundable late fee of $10 per designation is incurred if all renewal requirements are not completed, received, and accepted by the College for Financial Planning by the renewal due date.

* Designees holding two or more designations from the College for Financial Planning may elect to pay a Multiple Designation Renewal Fee of $95 and create a single renewal date for all their College designations. The $95 fee covers the renewal fee for all designations for a two-year period.

History of the Wealth Management Specialist (WMS) credential

The issuing agency, the College for Financial Planning was established in 1972 to manage the Certified Financial Planner (CFP) credential. Since then, the College has created several additional credentials in the financial planning field including:

FPQP: Financial Paraplanner Qualified Professional 

WMS: Wealth Management Specialist

AAMS: Accredited Asset Managemnt Specialist

APMA: Accredited Portfolio Management Advisor

AWMA: Accredited Wealth Management Advisor

CSRIC: Chartered SRI Counselor

In 1997 the College purchased the American Institute of Retirement Planners and created the course, exams and credentials for:

CRPC: Chartered Retirement Planning Counselor and

CRPS: Chartered Retirement Plan Specialist

Kaplan, Inc. is an American for-profit corporation that acquired the College for Financial Planning in 2018. Kaplan was established in 1938 as a tutoring and test prep business. They eventually expanded into providing both the test prep for credentials and the credentials themselves.