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Institutions/Due Diligence |
In this packet an institution will find all the pertinent information to guide their organization through the CWS® program of study. This booklet contains information regarding technical setup, CE requirements, CE maintanence, deadlines, communication map, program of study content, logistics for your ILT session and all other resources you will need to successfully guide your financial services professionals through to graduation.
FINRA and the state of Nebraska have “acknowledged” the existence of the Certified Wealth Strategist® (CWS®) designation by including the designation on the designation lists maintained by those governmental entities. What does this mean? To Cannon, it means that those governmental entities have made a review of the documentation submitted by Cannon financial Institute for the CWS® designation and found it to be compliant with industry standards for such designations. However, it does not mean that CWS® has been “approved” or “endorsed” by these governmental entities because they have clearly said they do not recommend, approve or endorse a particular designation. See links below:
All other state securities agencies, such as the State of Washington’s Department of Financial Institutions Securities Division, who have created laws related to such designations have provided that they do not evaluate, acknowledge, scrutinize or prohibit the use of a designation until a complaint has been made against a financial services professional in the state who is using a designation in a way that is alleged to be fraudulent or misleading. Most of these states follow the NASAA Model Rule on Senior Specific Certifications and Professional Designations as their point of reference and some states, such as Washington, have enacted laws adopting the language of the model rule. Cannon has reviewed the NASAA model rule on Senior Specific Certifications and Professional Designations and it is our belief that the CWS® designation functions within all perimeters of the rule. For example, the CWS® designation must be earned by an applicant. It is not self conferred. There are standards and procedures in place for assuring competency, for monitoring and disciplining designees and it has continuing education requirements.
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