Certified Structured Settlement Consultant (CSSC)
Most people are familiar with a number of different financial designations common among financial advisors. The Certified Financial Planner (CFP), Chartered Financial Consultant (ChFC), Chartered Life Underwriter (CLU), and others represent advanced training and knowledge in the financial planning field. As structured settlements are much less common than other financial topics, few are familiar with structured settlement designations. By far the most popular certification is the Certified Structured Settlement Consultant.
What Is A Certified Structured Settlement Consultant?
A Certified Structured Settlement Consultant or CSSC is a structured settlement professional designation awarded by the National Structured Settlements Trade Association (NSSTA) in conjunction with the University of Notre Dame. From their website we get the following description of the designation:
The National Structured Settlements Trade Association (NSSTA) Certified Structured Settlement Consultant (CSSC) is the industry's oldest and most respected designation, establishing educational standards for structured settlement professionals throughout the nation.
The program is designed to provide training for structured settlement consultants in the industry looking to further their understanding of structured settlements, structured settlement annuity contracts, and other related topics. To receive the designation, you must complete an extensive pre-program study curriculum, 80 hours of classroom time and study, and a comprehensive exam at the end of the coursework.
Why Use A Certified Structured Settlement Consultant?
The intention of the designation is to raise the level of competency of the participants in the program. At the time of writing, the NSSTA estimates nearly 550 students have completed the CSSC program. The program trains participants in areas such as:
- Settlement Planning
- Needs Based Negotiations
- Fixed Income and Fixed Annuities
- Special Needs, Medical Assistance, and Medicare
- Claims Valuation
- Tort Law
- Insurance Claims
- More...
So does the use of this designation actually mean anything to those they represent? While no designation can truly capture a consultant's competency, the existence of the designation at the very least represents a dedication to their profession, and hopefully an indication of their inclination to remain abreast of the industry. The program offers a comprehensive look at structured settlements. Combine this with appropriate experience in the industry, and you will have a much better shot at being well represented. An advisor's designation should never replace your own personal due diligence and/or comprehension of your own financial well-being.
What Does It Cost For The Designation?
The cost for the Certified Structured Settlement Consultant (CSSC) Professional Certification Program runs in the ball park of $3000 - $5000. Fees include the cost of the four-day classroom activities in South Bend, Indiana, program materials (excluding textbooks), lodging, and meals. Registration cost is fluctuates based on registration period. Cancellation incurs an estimated $500 administration fee that is not refunded. For updated information, be sure to visit the NSSTA online for exact application costs.
Other Requirements For Application
In order to qualify for the classroom portion of the designation, applicants must first obtain a minimum of two years experience in the structured settlement field. Membership in the NSSTA for a period of more than two years qualifies for this requirement, and no further proof is required at registration.