What is the Chartered Advisor for Senior Living (CASL) Financial Designation?

​The Chartered Advisor for Senior Living® (CASL®) designation is a professional credential that signifies an advisor’s expertise in assisting clients who are approaching or in retirement. These advisors specialize in areas such as wealth management, estate planning, and long-term care, aiming to ensure financial security for senior clients. Although the CASL® program is no longer open to new students, it remains a recognized and respected designation in the financial services industry.

Understanding the CASL® Designation

The CASL® designation was developed to equip financial professionals with the knowledge and skills necessary to address the unique financial needs of senior clients. Holders of this designation are trained to provide comprehensive advice on topics including retirement income planning, health and long-term care financing, and effective estate planning strategies. ​

How Do Financial Advisors Earn the CASL®?

To obtain the CASL® designation, candidates were required to complete a series of five college-level courses covering subjects such as understanding the older client, health and long-term care financing, financial decisions for retirement, investments, and estate planning fundamentals. Additionally, candidates needed to have three to five years of relevant full-time work experience and adhere to The American College’s Code of Ethics. Maintaining the designation required participation in ongoing professional recertification.

The Relevance of CASL® in Today’s Financial Landscape

While the CASL® program has been discontinued for new enrollees, existing designees continue to play a crucial role in advising senior clients. Their specialized training enables them to navigate the complexities of retirement planning, including managing retirement distributions, understanding Medicare and Medicaid, and implementing effective wealth transfer strategies.

Summary

In summary, the CASL® designation represents a commitment to addressing the financial needs of the senior population. Advisors with this credential possess specialized knowledge that is invaluable in guiding clients through the intricacies of retirement and estate planning.

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Governing Body: The CASL® designation was conferred by The American College of Financial Services.

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Frequently Asked Questions

Is the CASL® designation still available for new financial advisors?

No, The American College of Financial Services has discontinued the CASL® program for new students. However, they continue to support existing designees. ​

What areas of expertise does a CASL® advisor have?

CASL® advisors are trained in retirement income planning, health and long-term care financing, and estate planning strategies tailored to senior clients. ​

How can I verify if a financial advisor holds the CASL® designation?

You can verify an advisor’s credentials by checking with The American College of Financial Services or requesting proof of their designation directly from the advisor.​

Are there alternative designations similar to the CASL®?

Yes, The American College offers other designations such as the Retirement Income Certified Professional® (RICP®) and the Chartered Financial Consultant® (ChFC®), which also focus on retirement and financial planning. ​

Does the CASL® designation require continuing education?

Yes, maintaining the CASL® designation requires participation in ongoing professional recertification programs.