RSSA^® vs. RICP^®: Comparing Two Certifications

Two of the leading educational programs for financial professionals in the retirement planning space are the National Association of Registered Social Security Analysts’ RSSA®, or Registered Social Security Analyst®, and the Retirement Income Certified Professional® (RICP®) Program. We proudly offer access to both — including significant tuition reduction for those taking the RSSA® Program — but which of these programs is right for you? Ultimately, the answer will depend on your professional goals and many other factors.

Curriculum and Complexity

Created in 2020, the RSSA® is classified as an entry-level to intermediate certification specifically focused on expanding one’s knowledge in Social Security planning and is administered and awarded by NARSSA. The RSSA® certification provides financial professionals with comprehensive Social Security planning knowledge, covering both foundational topics—such as the history, benefit types, and client eligibility—and advanced areas including benefit taxation, business planning, disability benefits, and optimal claiming strategies.

In contrast to the RSSA®’s focus on Social Security strategies and mix of foundational and specialized knowledge, the RICP® designation promises students deep specialized knowledge on retirement income planning for professionals who already have a broad base of skills, making it a more advanced designation. Administered by The American College of Financial Services and launched in 2012, the RICP® has become the most respected retirement planning designation in the industry today and covers in-depth planning topics like retirement income strategies and solutions, tax-efficient planning, healthcare planning and expenses, risk management tools and products, and more — including insights on Social Security benefits.

Program Prerequisites

Those who wish to earn the RSSA® certification must have an insurance license issued by their state, be a FINRA-registered securities professional or advisor, have registered with the IRS to obtain a valid Preparer Tax Identification Number (PTIN), or already be a Certified Public Accountant (CPA), a CFP® professional, an Enrolled Agent (EA), a lawyer, or another licensed professional.

There are no prerequisite courses, financial planning certifications, or prior experience in retirement income planning required to begin the RICP® Program; however, a student must have three years’ experience in financial planning or a related profession to use the designation after earning it.

Tuition and Timing

Both the RSSA® and the RICP® are fully online, self-study education programs that students can complete at their own pace. However, the RICP® usually takes a minimum of four months to complete — this can be reduced to three months if a financial professional has already earned their CFP® certification or The College’s Chartered Financial Consultant® (ChFC®) designation, which eliminates one of the three required courses. On the other hand, the RSSA® certification consists of five modules that each take around 20-25 hours to complete, making completion possible in under four weeks.

For most professionals, the full program for RSSA® or RICP® will cost roughly the same: $2,800 for the RSSA® (a savings of 18-20% if enrolling through The College’s partnership with NARSSA) and $2,795 for the RICP®. Both programs also offer the chance to purchase individual modules or courses rather than the full program package. A key difference, however, lies in deeper potential tuition reduction: for financial professionals with the CFP® certification or the ChFC® designation, a two-course RICP® program package can be purchased costing only $1,925, providing a much more affordable and briefer path to the designation.

Examinations

One major difference between the programs lies in their approaches to final exams: the RICP® has no cumulative high-stakes final exam but rather final course exams that each take place at the end of their respective courses. There is no additional cost for these exams.

In contrast, the RSSA® certification features a cumulative final exam that is four hours long and consists of two parts, proctored remotely by NARSSA and using proprietary software including RSSA Roadmap® (more on that below). For those who choose to take the RSSA® certification through individual courses, they will have to pay an exam fee; however, the exam fee is waived with the purchase of a full program package.

Membership Benefits and Resources

As online, self-study programs, the RSSA® and RICP® share many features in common, including easy-to-use and mobile-friendly learning, interactive coursework including knowledge checks, case studies, and quizzes throughout, and all-digital resources for students.

For those who complete the RSSA® or RICP® Program, there are also additional benefits. RSSA® professionals receive free lifelong access to RSSA Roadmap®, which allows them to analyze client information, and create customized plans and reports to assist them in Social Security planning. Those who earn their RICP® designation enroll in The College’s Professional Recertification Program (PRP), paying an annual fee to maintain their designation; they also get ongoing free access to Knowledge Hub+, The College’s subscription-based learning platform that provides constantly updated CE-eligible content from the industry’s top voices and leaders.

While the RSSA® is a standalone certification not linked to any other designation or program, those who complete The College’s RICP® designation have avenues to continue their lifelong learning journey. The RICP® is designed to build on broad planning expertise acquired through credentials like the CFP® mark, ChFC®, RSSA®, Personal Financial Specialist® (PFS®), or Chartered Retirement Planning Counselor® (CRPC®) and offers many avenues to continued specialization and professional development, including designation programs like the Tax Planning Certified Professional® (TPCP®), Chartered Life Underwriter® (CLU®), or Chartered Special Needs Consultant® (ChSNC®).

RSSA^® or RICP^®: Why Not Both?

Having trouble deciding between the RSSA® or the RICP®? Our solution: both. Your clients’ need for retirement planning expertise is always growing: with 69 million Americans receiving a Social Security check each month and 55% saying they don’t know much about Social Security, the market for your specialized skills is clear¹. To truly become a retirement income planning expert, start with the more foundational concepts and Social Security planning knowledge by obtaining the RSSA® certification, and then move on to master comprehensive retirement income planning with the RICP®.

More on Retirement Planning

• Watch this podcast on navigating retirement income strategies
• Learn about the importance of behavioral finance in retirement planning
• See how concerns about AI adoption are affecting financial professionals