When CacheFlo first began its journey of building behaviour-based tools and eLearning, we knew there was a gap in the financial planning process. Every product or sector in the financial services industry is touched by cash flow. Still, cash flow management is not embedded in most existing systems. We set out to bridge that gap, and create tools and education so the industry could provide actionable spending and debt management advice.

We launched the Certified Cash Flow Specialist (CCS) designation program in 2013 to help professionals become fluent in behavioural spending concepts so they could develop strategies for real change. The original version of the program consisted of a group of webinar-based modules that qualified for 30 IAFE CE credits. Completion of all the modules awarded a professional the Certified Cash Flow Specialist designation.

A few years ago, we started the process of reimagining and enhancing the program. We knew the CCS designation needed to be more than letters behind someone's name. CCS professionals require purpose-built tools to deliver behaviour-based advice so their clients can make meaningful spending and debt changes. That’s why we’ve expanded the content on key concepts like debt and credit management, retirement cash flow planning, and we’ve incorporated all new behavioural economics content. We’re thrilled to announce that the Certified Cash Flow Specialist (CCS) designation program has been fully rebuilt!

The improved CCS designation program features dynamic and interactive classes on behavioural economics, including practical strategies that financial professionals can use to help clients make better financial decisions. Today, the CCS designation program qualifies for 31 FP Canada-Approved CE Credits. Check out the classes below.

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Class 1: Flaws of Budgeting

1.5 FP Canada-Approved CE Credits

Find out why typical budgeting methods aren't compatible with human behaviour. This class underlines the difficulties of traditional expense categories, and identifies unique scenarios when budgets can help.

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Class 2: Committed and Spendable

1.5 FP Canada-Approved CE Credits

Learn how to understand the concepts of committed and spendable cash flow categories, and use them to help clients with their debt, saving and spending goals.

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Class 3: Behavioural Economics: Distraction, Fear and Influence

2 FP Canada-Approved CE Credits

Gain insights into market saturation, homo-economicus and other behavioural theories. Learners will be provided with interactive examples of industry studies and learn the true influence of these biases over everyday spending decisions.

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Class 4: Behavioural Economics: Confidence, Environment and Biases

2 FP Canada-Approved CE Credits

Dive into more behavioural economics theories that influence spending. Learners will be provided with interactive examples of industry studies and start to draw real-world comparisons to their clients’ habits.

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Class 5: Behavioural Economics: Practical Strategies

2 FP Canada-Approved CE Credits

Review the behavioural economics theories in Classes 3 and 4, and explore practical application strategies to help recognize, avoid or take advantage of behavioural tendencies.

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Class 6: Money Mindsets

1 FP Canada-Approved CE Credit

Learn about seven unique financial personalities that explain how different people instinctively react, think and feel about money. Find out how each mindset invests, spends and saves, and explore effective and individualized communication strategies.

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Class 7: The Credit Effect

2 FP Canada-Approved CE Credits

Identify possible credit issues based on client data, and learn techniques to improve credit based on client information and history. Also explore recent advances in how FinTech is influencing people’s access and relationship to their personal credit.

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Class 8: Debt Data

2 FP Canada-Approved CE Credits

Uncover important facts and statistics surrounding client debt. Learners will also discover misconceptions about the causes of debt and their corresponding symptoms.

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Class 9: Debt Management Strategies

2 FP Canada-Approved CE Credits

Explore a variety of repayment methods and refinancing options, and learn about proactive borrowing theories.

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Class 10: Debt Case Studies

2 FP Canada-Approved CE Credits

Discover the consequences of different debt management decisions through a series of interactive sequences. Each scenario will allow learners to assess a variety of client and situational factors to determine the optimal strategy.

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Class 11: Cash Flow Impact

1 FP Canada-Approved CE Credits

Learn how to assess expenses based on client data, explore how refinancing can impact spending, and identify opportunities to improve cash flow.

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Class 12: Retirement Income Planning

3 FP Canada-Approved CE Credits

Find out how to calculate a custom retirement income based on clients’ current finances and future objectives. Also explore how to address shifting expenses, savings goals and debt repayment.

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Class 13: Navigating Variable Income

4 FP Canada-Approved CE Credits

Learn how to work with clients who own or are interested in income properties, and help business owners balance their household finances with their business goals. Also, explore how to apply behavioural cash flow planning to businesses with different revenue models.

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Class 14: Planning for Life Events

2 FP Canada-Approved CE Credits

Find out how to manoeuvre a cash flow strategy through various life events, like getting married, buying a house, planning for a baby, and losing a partner or job. Also learn how to evaluate a client’s financial preparedness for these life events. 

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Class 15: Communication & Operation Strategies

3 FP Canada-Approved CE Credits, awarded after completing the "Final Exam"

Explore concepts to attract new prospects, and communicate the benefits of a cash flow plan with existing clients. Learners will also develop effective questioning methods so they receive complete spending and debt data from clients. Also, practice a standardized appointment process.

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Final Exam

The exam tests a learner’s knowledge on select topics covered throughout the classes in the CCS designation program. Upon completing the final exam, and assuming all other classes have been completed, you’ll achieve your CCS designation!

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Sounds great, how do I start?

New and returning applicants to the CCS program will have one option to achieve and maintain their CCS designation, which now includes access to client and professional tools. All current CCS professionals and software users that are in good standing on this date will be grandfathered at their current price and product choice, but they can upgrade to the new offering at any time. We’ve also included additional users and administrative features to make integrating cash flow management into your business much easier and more cost-effective. 


Become a Certified Cash Flow Specialist today!

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I’m still not sure

If you don’t think you need to focus on cash flow management because your clients are high-income professionals, they have $500,000 or more in assets, or they’re retired, think again. The presence of assets doesn’t mean that cash flow is maximized, or that debt won’t threaten to erode those assets. 

In fact, 50% of households with a minimum income of $100,000 a year report a financial health score that is either vulnerable or coping. High-income households may have trouble saving, and reports show that 23% of households with incomes over $150,000 can’t access $1,000 in savings. It’s not just young adults who have growing credit card debt; 42% of households between the ages of 65 and 74 have credit card debt, and their mean debt has more than doubled in the last 10 years. Unless you only have ultra-wealthy clients with more than $10 million of investable assets, the majority of your clients will likely benefit from a cash flow strategy, and a spreadsheet isn’t enough.

  • Are you a financial professional with a growth mindset? 
  • Are you looking to differentiate yourself? 
  • Can you see the value in helping your clients find money to fund their goals? 
  • Did you get into the industry to help people?

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If you answered yes to any of those questions, we welcome you to join us for our next demo of the CacheFlo Suite. We’re excited about this next chapter at CacheFlo, and we hope you’ll work with us to be the change the industry needs to see.

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References

Garon, T., Dunn, A., Golvala, K., & Wilson, E. (2018). US Financial Health Pulse: 2018 Baseline Survey Results [PDF]. U.S. Financial Health Pulse. URL

Lake, R. (2020, March 24). Why Upper-Middle Earners Are Living Paycheck to Paycheck. Investopedia. URL

Musinski, B. (2019, February 27). How Seniors Can Get Help With Credit Card Debt. U.S. News & World Report. URL