Copyright © 2011 by Institute of Business & Finance. All rights reserved. v1.0

ADV

BROCHURE SUPPLEMENT

ADV Brochure Supplement

Table of Contents

DESIGNATIONS MATRIX

DESIGNATIONS MATRIX 1.1

DESIGNATIONS

CERTIFIED FUND SPECIALIST®

(CFS®) 2.1

CERTIFIED ANNUITY SPECIALIST®

(CAS®

) 2.2

CERTIFIED ESTATE AND TRUST SPECIALIST™

(CES™

) 2.3

CERTIFIED INCOME SPECIALIST™

(CIS™

) 2.4

CERTIFIED TAX SPECIALIST™

(CTS™

) 2.5

MASTER’S DEGREE

MASTERS OF SCIENCE IN FINANCIAL SERVICES (MSFS) 3.1

ADV BROCHURE

SUPPLEMENT

DESIGNATIONS MATRIX

Designations Matrix 1.1

ADV BROCHURE SUPPLEMENT

IBF

1.DESIGNATIONS MATRIX

CRITERIA CFS® CAS

® CES

™ CIS

™ CTS

™

PREREQUISITES

2,000 hours or more work

experience in the financial

services industry or a

Bachelor’s Degree

2,000 hours or more work

experience in the financial

services industry or a

Bachelor’s Degree

2,000 hours or more work

experience in the financial

services industry or a

Bachelor’s Degree

2,000 hours or more work

experience in the financial

services industry or a

Bachelor’s Degree

2,000 hours or more work

experience in the financial

services industry or a

Bachelor’s Degree

REQUIRED

STUDY HOURS

135 hours with one year to

complete

1 year of extensions may be

purchased for an additional

fee

135 hours with one year to

complete

1 year of extensions may be

purchased for an additional

fee

135 hours with one year to

complete

1 year of extensions may be

purchased for an additional

fee

135 hours with one year to

complete

1 year of extensions may be

purchased for an additional

fee

135 hours with one year to

complete

1 year of extensions may be

purchased for an additional

fee

GRADUATION

REQUIREMENTS

3 Multiple Choice exams

1 every 2 modules

50 Questions per exam

Must have a proctor

Completion of a case study

(a one-page fact pattern

about a hypothetical client)

Signed Code of Ethics &

Standards of Practice

Completed student survey

for quality assurance

3 Multiple Choice exams

1 every 2 modules

50 Questions per exam

Must have a proctor

Completion of a case study

(a one-page fact pattern

about a hypothetical client)

Signed Code of Ethics &

Standards of Practice

Completed student survey

for quality assurance

3 Multiple Choice exams

1 every 2 modules

50 Questions per exam

Must have a proctor

Completion of a case study

(a one-page fact pattern

about a hypothetical client)

Signed Code of Ethics &

Standards of Practice

Completed student survey

for quality assurance

3 Multiple Choice exams

1 every 2 modules

50 Questions per exam

Must have a proctor

Completion of a case study

(a one-page fact pattern

about a hypothetical client)

Signed Code of Ethics &

Standards of Practice

Completed student survey

for quality assurance

3 Multiple Choice exams

1 every 2 modules

50 Questions per exam

Must have a proctor

Completion of a case study

(a one-page fact pattern

about a hypothetical client)

Signed Code of Ethics &

Standards of Practice

Completed student survey

for quality assurance

Designations Matrix 1.2

ADV BROCHURE SUPPLEMENT

IBF

CFS® CAS

® CES

™ CIS

™ CTS

™

CURRICULUM

Module I – Regulation,

Structure, Expenses, and

Titling

Module II – Management

and Fund Selection

Module III – Tax-Free

Bonds, Money Market,

Specialty Categories, and

Time Value Analysis

Module IV – Asset

Categories, Market

Indicators, CEFs, ETFs, and

REITs

Module V – Risk, Timing

the Market, When to Sell,

and Taxation

Module VI – Modern

Portfolio Theory (MPT)

Module I – Fixed-Rate and

Variable Annuities

Module II – Income

Vehicles, Benefits,

Taxation, Ownership, and

Management

Module III – Contract

Structure, Estate

Considerations, and

Features Comparison

Module IV – Reasons to

Like Annuities, Mutual

Fund Comparisons, and

Living Benefits

Module V – Equity-Indexed

Annuities

Module VI – Subaccount

Management, Selection, and

Allocation

Module I – Ownership,

Beneficiaries, Children,

Wills, Probate, and Living

Trusts

Module II – POD

Designations, Life

Insurance, Retirement

Benefits, plus Estate and

Gift Taxes

Module III – Ongoing, Tax

Saving, Generation

Skipping, Charitable, and

Combination Trusts

Module IV – Control

Trusts, Incapacity, plus

Body and Organ Donations

Module V – Estate

Settlement, the First Month

After Death, and

Deciphering the Will

Module VI – Managing

Assets and Paying Bills,

Taxes, and Trust

Termination

Module I – Investment

Concepts and Principles

Module II – Bond Building

Blocks, Convertibles, and

Riding the Yield Curve

Module III – Retirement

Planning and Planning for

Death

Module IV – Income Taxes,

Social Security, and

Medicare

Module V – Stocks,

Utilities, Real Estate,

Withdrawal Plans, and

Living Benefits

Module VI – ETFs, Closed-

End Funds, Conservative

Options, Stretch IRAs, and

Reverse Mortgages

Module I – The Individual

Tax Return, Gross Income,

and Exclusions

Module II – Business

Income and Expenses

Module III – Itemized

Deductions, Other

Incentives, Credits, Special

Taxes

Module IV – Accounting

Periods, Depreciation

Methods, Capital Gains and

Losses

Module V – Withholding,

Estimated Payments, Payroll

Taxes, Partnership Taxation

Module VI – The Corporate

Income Tax, Tax

Administration, Tax

Planning

Additional info Additional info Additional info Additional info Additional info

Designations Matrix 1.3

ADV BROCHURE SUPPLEMENT

IBF

CFS® CAS

® CES

™ CIS

™ CTS

™

USE OF

DESIGNATION

Pay $100 annual renewal

fee

Complete and report to IBF

30 hours of continuing

education every two years

Abide by IBF Code of

Ethics and Standards of

Practice

Click Here to View

Pay $100 annual renewal

fee

Complete and report to IBF

30 hours of continuing

education every two years

Abide by IBF Code of

Ethics and Standards of

Practice

Click Here to View

Pay $100 annual renewal

fee

Complete and report to IBF

30 hours of continuing

education every two years

Abide by IBF Code of

Ethics and Standards of

Practice

Click Here to View

Pay $100 annual renewal

fee

Complete and report to IBF

30 hours of continuing

education every two years

Abide by IBF Code of

Ethics and Standards of

Practice

Click Here to View

Pay $100 annual renewal

fee

Complete and report to IBF

30 hours of continuing

education every two years

Abide by IBF Code of

Ethics and Standards of

Practice

Click Here to View

CODE OF

ETHICS

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

MAY BE

REVOKED FOR

VIOLATION OF

CODE OF

ETHICS

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

INVESTOR

COMPLAINT

PROCESS

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

PUBLIC

DISCIPLINE

ACTIONS

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

CE CREDITS

AVAILABLE

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

YES

Click Here to View

ADV BROCHURE

SUPPLEMENT

DESIGNATIONS

Designations 2.1

ADV BROCHURE SUPPLEMENT

IBF

2.CERTIFIED FUND SPECIALIST®

(CFS®)

Why are the CFS® Certification Requirements Important?

A Certified Fund Specialist® (CFS

®) is a highly educated, experienced and qualified professional

committed to the well-being of you, your family and your business. The CFS®

can provide basic

and advanced guidance on a wide range of actively and passively managed investments. With the

help and knowledge of a CFS®, you can determine your risk level, set realistic goals, design an

appropriate portfolio, minimize taxes and protect your estate.

CFS® Certification Requirements

Education: CFS® candidates must complete a comprehensive advanced program designed to

educate the advisor on every aspect of modern portfolio theory (MPT), mutual funds, ETFs,

REITs, UITs, EANs, CEFs, asset rebalancing and taxation.

Experience: CFS® professionals must have a bachelor’s degree or 2,000 hours of experience

completed in the financial services industry prior to completing the CFS® course. As a result,

CFS® practitioners possess extensive financial counseling skills in addition to advanced portfolio

construction techniques.

Ethics: All graduates must sign the IBF Code of Ethics and agree to adhere to the IBF Standards

of Practice, both of which place client interests above those of the advisor and parent company.

The CFS® advisor pledges to put your interests above all else, keep abreast of industry standards,

new strategies and academic white papers. While conducting all activities with the highest

standards of integrity and honesty, CFS®

advisors perform investment services in a professional

and economical manner offering advice only in areas of competence.

The CFS® marks are in compliance with FINRA and IBF.

Ongoing Certification Requirements

IBF’s continuing education (CE) policy is an integral part of its commitment to the highest

competency standards in the industry. Every CFS®

advisor is required to regularly submit 30

hours of continuing education to maintain technical competence and fulfill ethical obligations.

Designations 2.2

ADV BROCHURE SUPPLEMENT

IBF

CERTIFIED ANNUITY SPECIALIST®

(CAS®)

Why are the CAS® Certification Requirements Important?

A Certified Annuity Specialist® (CAS

®) is a highly educated, experienced and qualified

professional committed to the well-being of you, your family and your business. The CAS® can

provide basic and advanced guidance on a wide range of annuities and investment decisions

based on the client’s risk level and time horizon. With the help and knowledge of a CAS®, you

can create a sound financial solution, increase your assets, enhance your retirement and protect

your estate.

CAS® Certification Requirements

Education: CAS® candidates must complete a comprehensive advanced program designed to

educate the advisor on every aspect of traditional fixed-rate, equity-indexed and variable

annuities as well as portfolio construction and contract titling.

Experience: CAS®

professionals must have a bachelor’s degree or 2,000 hours of experience in

the financial services industry prior to completing the CAS®

course. As a result, CAS®

practitioners possess extensive financial counseling skills in addition to practical and theoretical

knowledge.

Ethics: All graduates must sign the IBF Code of Ethics and agree to adhere to the IBF Standards

of Practice, both of which place client interests above those of the advisor and parent company.

The CAS® advisor pledges to put your interests above all else, keep abreast of industry

standards, new strategies and academic white papers. While conducting all activities with the

highest standards of integrity and honesty, CAS®

advisors perform investment services in a

professional and economical manner offering advice only in areas of competence.

The CAS®

marks are in compliance with FINRA and IBF.

Ongoing Certification Requirements

IBF’s continuing education (CE) policy is an integral part of its commitment to the highest

competency standards in the industry. Every CAS® advisor is required to regularly submit 30

hours of continuing education to maintain technical competence and fulfill ethical obligations.

Designations 2.3

ADV BROCHURE SUPPLEMENT

IBF

CERTIFIED ESTATE AND TRUST SPECIALIST™

(CES™

)

Why are the CES™

Certification Requirements Important?

A Certified Estate and Trust Specialist for Financial Advisors™

(CES™

) is a highly educated,

experienced and qualified professional committed to the well-being of you, your family and your

business. The CES™

can provide basic and advanced guidance on a wide range of estate planning

issues. With the help and knowledge of a CES™

, you can determine a client’s goals, objectives

and risks, the documents needed, ownership interests, gifting strategies, what trusts are

appropriate, whether life insurance should be included, special elections and post-mortem

planning.

CES™

Certification Requirements

Education: CES™

candidates must complete a comprehensive advanced program designed to

educate the advisor on every aspect of property transfers during life and at death, taxation, risks,

trusts and wills, drafting an estate plan and post-mortem planning.

Experience: CES™

professionals must have a bachelor’s degree or 2,000 hours of experience in

the financial services industry prior to completing the CES™

course. As a result, CES™

practitioners possess extensive financial counseling skills in addition to estate planning skills.

Ethics: All graduates must sign the IBF Code of Ethics and agree to adhere to the IBF Standards

of Practice, both of which place client interests above those of the advisor and parent company.

The CES™

advisor pledges to put your interests above all else, keep abreast of industry

standards, new strategies and academic white papers. While conducting all activities with the

highest standards of integrity and honesty, CES™

advisors perform investment services in a

professional and economical manner offering advice only in areas of competence.

The CES™

marks are in compliance with FINRA and IBF.

Ongoing Certification Requirements

IBF’s continuing education (CE) policy is an integral part of its commitment to the highest

competency standards in the industry. Every CES™

advisor is required to regularly submit 30

hours of continuing education to maintain technical competence and fulfill ethical obligations.

Designations 2.4

ADV BROCHURE SUPPLEMENT

IBF

CERTIFIED INCOME SPECIALIST™

(CIS™

)

Why are the CIS™

Certification Requirements Important?

A Certified Income Specialist™

(CIS™

) is a highly educated, experienced and qualified

professional committed to the well-being of you, your family and your business. The CIS™

can

provide basic and advanced guidance in generating and managing plans that provide a stable

stream of retirement income. With the help and knowledge of a CIS™

, you have the instruments

required to create and protect a well-diversified retirement portfolio filled with fixed and

variable-rate investments.

CIS™

Certification Requirements

Education: CIS™

candidates must complete a comprehensive advanced program designed to

educate the advisor on every aspect of fixed income, preferred securities, guaranteed

investments, divorce and withdrawal plans.

Experience: CIS™

professionals must have a Bachelor’s degree or 2,000 hours of experience

completed in the financial services industry prior to completing the CIS™

course. As a result,

CIS™

practitioners possess extensive financial counseling skills in addition to practical and

theoretical knowledge.

Ethics: All graduates must sign the IBF Code of Ethics and agree to adhere to the IBF Standards

of Practice, both of which place the client’s interests above those of the advisor and parent

company.

The CIS™

advisor pledges to put your interests above all else, keeps abreast of industry

standards, new strategies and academic white papers. While conducting all activities with the

highest standards of integrity and honesty, CIS™

advisors perform investment services in a

professional and economical manner offering advice only in areas of competence.

The CIS™

marks are in compliance with FINRA and IBF.

Ongoing Certification Requirements

IBF’s continuing education (CE) policy is an important part of our commitment to the highest

competency standards in the industry. Every CIS™

advisor is required to regularly submit 30

hours of continuing education to maintain technical competence and fulfill ethical obligations.

Designations 2.5

ADV BROCHURE SUPPLEMENT

IBF

CERTIFIED TAX SPECIALIST™

(CTS™

)

Why are the CTS™

Certification Requirements Important?

A Certified Tax Specialist™

(CTS™

) is a highly educated, experienced and qualified professional

committed to the well-being of you, your family and your business. The CTS™

can provide

basic and advanced guidance in managing taxable income. With the help and knowledge of a

CTS™

, you can offer strategies to decrease taxable income and have instructions on how to deal

with the credits, deductions, and exemptions of taxes to better ensure a wealthy portfolio.

CTS™

Certification Requirements

Education: CTS™

candidates must complete a comprehensive advanced program designed to

educate the advisor on every aspect of income taxes, credits, deductions and exemptions.

Experience: CTS™

professionals must have a Bachelor’s degree or 2,000 hours of experience

completed in the financial services industry prior to completing the CTS™

course. As a result,

CTS™

practitioners possess extensive financial counseling skills in addition to practical and

theoretical knowledge.

Ethics: All graduates must sign the IBF Code of Ethics and agree to adhere to the IBF Standards

of Practice, both of which place the client’s interests above those of the advisor and parent

company.

The CTS™

advisor pledges to put your interests above all else, keeps abreast of industry

standards, new strategies and academic white papers. While conducting all activities with the

highest standards of integrity and honesty, CTS™

advisors perform investment services in a

professional and economical manner offering advice only in areas of competence.

The CTS™

marks are in compliance with FINRA and IBF.

Ongoing Certification Requirements

IBF’s continuing education (CE) policy is an important part of our commitment to the highest

competency standards in the industry. Every CTS™

advisor is required to regularly submit 30

hours of continuing education to maintain technical competence and fulfill ethical obligations.

ADV BROCHURE

SUPPLEMENT

MASTER’S DEGREE

Master’s Degree 3.1

ADV BROCHURE SUPPLEMENT

IBF

3.MASTERS OF SCIENCE IN FINANCIAL SERVICES (MSFS)

Masters of Science in Financial Services (MSFS)

While other Masters programs provide a great deal of theory, that theory often has little

relevance or applicability to an advisor's actual practice. Graduate-degree business courses use

textbooks whose content has little to do with estate, financial, investment or tax planning outside

of academia. The IBF MSFS program uses books written by financial advisors for financial

advisors. The core of the MSFS curriculum is five certification programs.

MSFS Requirements

Education and Experience: Applications for admission to the IBF graduate program are

welcome from candidates with a Bachelor’s degree from an accredited college or university.

The student should also have a minimum of five years experience in the financial industry.

In order to demonstrate this competence, students must pass a series of examinations,

culminating in a financial planning capstone course. MSFS graduates are expected to be

proficient in: topical knowledge, meaningful analysis, strategies, presentation plus

implementation and review.

The MSFS degree program consists of the following graduate courses:

MS500 - Certified Fund Specialist

® (CFS

®)

MS510 - Certified Annuity Specialist®

(CAS®

)

MS520 - Certified Estate and Trust Specialist™

(CES™

)

MS530 - Certified Tax Specialist™

(CTS™

)

MS540 - Certified Income Specialist™

(CIS™

)

MS600 - Financial Planning

MS610 - Investments

MS620 - Real Estate

MS630 - Portfolio Management

MS640 - Insurance

MS650 - Retirement Plans & Employee

Benefits

MS700 - The Financial Plan

The MSFS advisor pledges to put your interests above all else, keeps abreast of industry

standards, new strategies and academic white papers. While conducting all activities with the

highest standards of integrity and honesty, MSFS advisors perform investment services in a

professional and economical manner offering advice only in areas of competence.