Course Description
The course is filmed at the American College of Financial Services and taught by the College's adjunct instructor, Don Graves, RICP®. Don is the nation’s first reverse mortgage professional to obtain the Retirement Income Certified Professional (RICP®) designation and is widely credited for introducing reverse mortgage planning strategies into the RICP® program and retirement income conversation at the College.
In the 4-hour course, Don distills more than 20,000 advisor/client engagements over two decades into practical, common sense strategies. It is designed to help advisors understand how housing wealth, when incorporated into retirement income planning, can help their clients increase cash flow, reduce risks, preserve assets, improve liquidity and add new investable dollars back into their savings through strategies that are both ethical and compliant.
MODULE 1: THE SHIFTING CONVERSATION
Lesson 1: The Changing Reverse Mortgage Client
Lesson 2: Are You the Next Steve Jobs?
Lesson 3: The Changing Retirement Planning Landscape
Lesson 4: The Changing Role of the Advisor
MODULE 2: THE BASICS
Lesson 1 & 2: Reverse Mortgage Basics
Lesson 3: The Five Most Important Conversations
MODULE 3: THE FIVE HECM FOUNDATIONS
Lesson 1: Line of Credit
Lesson 2: Monthly Payment
Lesson 3: Mortgage Replacement
Lesson 4: Mortgage Exchange
Lesson 5: HECM for Purchase
BONUS LESSONS: HOW TO START THE CONVERSATION
Includes scripts, language, sample Illustrations, questions and concepts.
MODULE 4: MANAGING RISKS AND RETURNS
Lesson 1: Inflation, Volatility and Longevity
Lesson 2: Mitigating Portfolio Risk
Lesson 3: Buy Income and Invest the Difference
Lesson 4: Overlooked Planning Opportunities
MODULE 5: CREATING NEW DOLLARS
Lesson 1: Adding to Retirement Savings with the New HECM for Purchase
MODULE 6: ARE REVERSE MORTGAGES EXPENSIVE?
Lesson 1: Are Reverse Mortgages Expensive?
MODULE 7: CREATIVE REVERSE MORTGAGE STRATEGIES
Lesson 1: Roth Conversions
Lesson 2: Healthcare Planning in Retirement
Lesson 3: Gray Divorce Plus Six Strategies that Benefit Women
MODULE 8: HOW TO INTRODUCE THE SUBJECT WITH CLIENTS
Lesson 1: Introducing the Subject with Clients
Course Objectives
- Able to identify the main components of a reverse mortgage and the basic rules and regulations surrounding the Home Equity Conversion Mortgage (HECM), including the aspects of the program that have changed in recent years.
- Internalize the five HECM Foundations—the strategical building blocks for all reverse mortgage strategies—and be able to identify which foundation may be appropriate for the use in clients’ individualized retirement planning.
- Explain the benefits and concerns related to reverse mortgages and evaluate if a reverse mortgage is in the client's best interest.
- Explore asset allocation models, portfolio coordination and sustainable withdrawal rates to allow for a reasonable chance of a portfolio lasting over the client’s lifetime; understand the mechanisms whereby reverse mortgages can coordinate with retirement spending from investments.
- Demonstrate how reverse mortgages incorporate with retirement income, investments, annuities, and insurances—WITHOUT using loan proceeds—to create enhanced outcomes not otherwise achievable.
- Incorporate advanced and tax-efficient reverse mortgage strategies into a comprehensive retirement income planning process, especially as it pertains to Roth IRA rollovers.
Testing & Continuing Education
- Earn Your Certificate in Housing Wealth Applications
- Earn 4 Continuing Education Credit Hours
- Number of questions: 75-100
- Attempts: 2
This test is required for those seeking CFP Continuing Education Credits and Professional Recertification for the American College of Financial Services for these designations: CAP®, CASL®, ChFC®, ChSNC®, CLF®, CLU®, FSCP®, RICP®, WMCP®, GFSP™
