FORM ADV PART 2B BROCHURE SUPPLEMENT FOR THE EXECUTIVE OFFICERS OF WEALTHCARE CAPITAL MANAGEMENT, INC.

FORM ADV PART 2B BROCHURE SUPPLEMENT FOR THE EXECUTIVE OFFICERS OF WEALTHCARE CAPITAL MANAGEMENT, INC. David Loeper, CIMA, CIMC Robert Wilson Karen Nelson Perry Chesney, CFP, CIMA Brandy N. Weiberg AND YOUR PERSONAL INVESTMENT ADVISER, Brad William Michels, CFP, QPFC Registered Investment Adviser s Name: Wealthcare Capital Management, Inc. IARD/CRD Number: 111119 SEC File Number: 801-60183 Main Office - Mailing Address: 600 East Main Street, Suite 1240, Richmond, VA 23219 Mr. Michels Office Mailing Address: 3426 Paoli Pike, Floyds Knobs, Indiana 47119 Main Business Phone: (804) 644-4711 Main Business Phone: (812) 944-7878 Primary Website: www.wealthcarecapital.com Email: bmichels@wealthcarecapital.com This Brochure Supplement provides information about the employees of WEALTHCARE that supplements the Adviser s Brochure. You should have received a copy of the Brochure. Please contact a member of WEALTHCARE S Compliance Department at (804) 644-4711 or compliance@wealthcarecapital.com if you did not receive a Brochure, or if you have any questions about the contents of this Brochure Supplement. Additional information about the employees of WEALTHCARE can be found on the SEC s website at www.adviserinfo.sec.gov. Dated: May 7, 2012 Copyright 2011-2012 Wealthcare Capital Management - All rights reserved. P a g e 1

Brad William Michels (Born: 1969) Mr. Michels is located in his personal office in Floyds Knobs, Indiana and can be reached at (812) 944-7878 if you have any questions. Certified Financial Planner (CFP ) Qualified Plan Financial Consultant (QPFC) Webster University, MBA - Business University of Kentucky, BBA - Marketing 2012 Present Wealthcare Capital Management, Inc. Wealthcare Advisor 2009 2012 Concentric Fiduciary Advisors President 2009 2012 Multi-Funds, Inc. Independent Contractor 2004 2009 Transamerica Investment Management Portfolio Specialist Brad Michels joined Wealthcare Capital Management in 2012 and serves his clientele on both sides of the Ohio River from his office in Southern Indiana. His mission is to change the way individual investors approach their financial lives by measuring success not by returns, but through the achievement of their life's goals. Mr. Michels has nearly two decades of experience in the financial service industry. Prior to forming his own firm, he worked at Multi-Funds, Inc. where he was responsible for educating other financial advisors and their clients about separately managed accounts and mutual funds. During his time at Transamerica Investment Management, he helped financial advisors with institutional asset management and was responsible for helping to oversee over $500 million in assets. In 2009, he formed Concentric Fiduciary Advisors based on his belief that an advisor must be independent and free of conflicts in order to be able to act as a fiduciary. He has served on the board for the Kentuckiana Chapter of the Financial Planning Association (FPA), serving as Chapter President in 2010. He continues to be actively involved with the FPA and is also a member of the American Society of Pension Professionals & Actuaries (ASPPA). Mr. Michels graduated from the University of Kentucky in 1991 with a Bachelors of Business Administration in Marketing. He earned his Masters of Business Administration from Webster University in 1996. He studied financial planning through the American College and earned his CFP certification in 2006. To better orient himself with the defined contribution marketplace, he attained the QPFC designation from ASPPA in 2010. Mr. Michels is a veteran and served during Desert Storm/Shield in 1991 and was awarded the Army Achievement Medal for meritorious service as Company Armorer, Supply Specialist and Military Policeman. Mr. Michels is married and has one daughter. They reside in Floyds Knobs and are members of Holy Family Parish with active involvement in the parish through committees and volunteering to coach. Mr. Michels does not have, nor has he ever had, any disciplinary disclosures. Mr. Michels is not actively engaged in any other investment-related business beyond his capacity as a Wealthcare Advisor of WEALTHCARE. Mr. Michels does not receive any commissions, bonuses or other compensation based on the sale of securities or other investment products or for referring advisory clients to other third party providers. On behalf of WEALTHCARE, Perry Chesney, as Senior Managing Director, is the person responsible for the supervision of Mr. Michels. Mr. Chesney can be reached at (804) 433-2502. ***************** David Brian Loeper, CIMA, CIMC (Born: 1963) Mr. Loeper is located at our main office in Richmond, Virginia and can be reached at (804) 521-3421 if you have any questions. Certified Investment Management Analyst (CIMA ) Certified Investment Management Consultant (CIMC ) 1999 Present Wealthcare Capital Management, Inc. Founder, Chief Executive Officer, Chief Investment Officer and Chairman of the Board of Directors David B. Loeper is a Certified Investment Management Analyst (CIMA ), a Certified Investment Management Consultant (CIMC ) and the CEO of Wealthcare Capital Management, Inc. ( WEALTHCARE ). An SEC Registered Investment Adviser with nearly 25 years experience, Mr. Loeper has appeared on CNBC and has been a featured contributor on Bloomberg TV. Mr. Loeper joined Wheat First Securities, Inc. as vice president of investment consulting in 1988, where he served for 10 years until the firm was acquired by First Union Corporation (now Wells Fargo Advisors, LLC). He was promoted to managing director of investment consulting, and then eventually to managing director of strategic planning of what became the retail brokerage division of First Union Securities, Inc. He left this in 1999 to found the predecessor entities that collectively became Financeware, Inc. in 2000. In January, 2012, Financeware changed its legal name to Wealthcare Capital Management, Inc. Active in industry associations throughout his career, Mr. Loeper has been a member of the Investment Management Consultants Association (IMCA) for over 20 years, serving on the advisory council for more than 5 years, including serving as chairman. Mr. Loeper was also appointed during the 1990s by the governor of Virginia to serve on the Investment Advisory Committee of the nearly $30 billion Virginia Retirement System. He received his CIMA designation in 1990 by completing a program offered through Wharton Business School, in conjunction with IMCA. Drawing on years of experience in financial services including serving as a fiduciary for various types of ERISA plans, Mr. Loeper has authored numerous whitepapers and books including the top selling book, Stop the 401k Rip-off! (Bridgeway Books, Austin, TX, 2007), followed by The Four Pillars of Retirement Plans, Stop the Retirement Rip-off and Stop the Investing Rip-off (all three books, John Wiley & Sons, Inc., Hoboken, NJ, 2009). Second editions of Stop the Retirement Rip-off and Stop the Investing Rip-off were published in 2011. Disciplinary Information Mr. Loeper does not have, nor has he ever had, any disciplinary disclosures. Mr. Loeper is not actively engaged in any other investment-related business beyond his capacity as CEO and CIO of WEALTHCARE. Mr. Loeper does not receive any commissions, bonuses or other compensation based on the sale of securities or other investment products or for referring advisory clients to other third party providers. financial services industry via an Application Service Provider ( ASP ) business model delivering wealth management software via the Internet that supports the Wealthcare System. Mr. Loeper has several U.S. and international patents associated with the Wealthcare wealth management process awarded to him as investor which were assigned to one of WEALTHCARE s whollyowned non-advisory subsidiaries. A listing of awarded patents is available on the WEALTHCARE website. As CEO, Mr. Loeper does contribute a portion of his time (approximately 15-25%) to the management, client servicing and design efforts of the technology and related intellectual property licensing side of the company. However, the majority of his time is spent on WEALTHCARE s strategic initiatives and supporting its advisory professionals, institutional sub-advisory relationships and firm advisory clients. As the CEO and CIO of WEALTHCARE, Mr. Loeper is not directly supervised by other persons other than the firm s Board of Directors, however his work regarding any direct client s Wealthcare Plan he advices and subsequent trade instructions are reviewed prior to execution by either the Planning or the Portfolio Management Teams at WEATLHCARE. Mr. Loeper is also subject to periodic compliance review of his observance of current firm policies and procedures. Robert P. Wilson, WEALTHCARE S CCO, is responsible for the compliance review and can be reached at (804) 521-3420. Additionally, Mr. Loeper subscribes to WEALTHCARE s Code of Ethics as do all firm employees. The Code of Ethics provides for WEALTHCARE and its employees to exercise fiduciary duty to its clients by and foremost. WEALTHCARE takes seriously its compliance and regulator obligations and requires all staff and employees to comply with all federal and state regulations as well as WEALTHCARE S policies and procedures. firm s compliance policies and to their understanding of WEALTHCARE s Code of Ethics. * Copyright 2011-2012 Wealthcare Capital Management - All rights reserved. P a g e 2

Robert P. Wilson (Born: 1955) Mr. Wilson is located at our main office in Richmond, Virginia and can be reached at (804) 521-3420 if you have any questions. Virginia Commonwealth University, MS Business with Finance Concentration Virginia Polytechnic Institute & State University, BS Accounting 1999 Present Wealthcare Capital Management, Inc. Senior Managing Director, Chief Financial Officer and Chief Compliance Officer Mr. Wilson served as Managing Director and Treasurer of First Union Corporation's Retail Securities Group, which is now part of Wells Fargo Advisors, the third largest retail brokerage organization in the United States. His last assignments at First Union included M&A analysis and acquisition due diligence and financial analysis for First Union's e-commerce brokerage strategy. Mr. Wilson joined First Union following the merger of First Union and Wheat First Butcher Singer, Inc. in 1998. At Wheat First, he was Managing Director and Treasurer with over 17 years of internal audit, finance, accounting, financial systems, capital utilization and risk management experience in a variety of positions, including serving as Chairman of Wheat First's Capital Markets and Fully Disclosed Clearing Credit Committees. Prior to joining Wheat First, Mr. Wilson worked for three years in public accounting with Ernst & Young as a Certified Public Accountant. Mr. Wilson does not have, nor has he ever had, any disciplinary disclosures. Mr. Wilson is not actively engaged in any other investment-related business beyond his capacity as CFO and CCO of WEALTHCARE. Mr. Wilson does not receive any commissions, bonuses or other compensation based on the sale of securities or other investment products or for referring advisory clients to other third party providers. financial services industry primarily via an Application Service Provider ( ASP ) business model delivering wealth management software that supports the Wealthcare System over the internet. As CFO, Mr. Wilson does contribute a portion of his time (approximately 10-20%) to the management and servicing of the technology side of the company. The majority of his time is spent on WEALTHCARE and its advisory professionals, institutional sub-advisory relationships and WEALTHCARE advisory clients. Mr. Wilson serves as a Member of the Board and Treasurer of The 2C Condo Association as a co-owner of one of the units in the building. This service has no impact on his time in the office. On behalf of WEALTHCARE, David Loeper, as CEO, is the person responsible for the supervision of Mr. Wilson. Mr. Loeper can be reached at (804) 521-3421. Perry L. Chesney, CFP, CIMA (Born: 1959) Mr. Chesney is located at his personal office in Atlanta, Georgia and can be reached at (804) 433-2502 if you have any questions. Millsaps College (Mississippi), Bachelor of Business Administration Certified Investment Management Analyst (CIMA ). Certified Financial Planner (CFP ) Chartered Financial Consultant (ChFC ) 2011 Present Wealthcare Capital Management, Inc. Senior Managing Director/Global Client Group 2004 2011 SunTrust Investment Services Senior Vice President/Central Division Manager Mr. Chesney has over 25 years of experience in the financial services industry, most recently as Senior Vice President and Central Division Manager at SunTrust Investment Services. Prior to his position at SunTrust, Mr. Chesney was a Private Wealth Advisor with Merrill Lynch, where he worked for over 22 years. Mr. Chesney is a frequent speaker for area financial planners and investment professionals and has done extensive speaking and teaching around the country for Merrill Lynch and SunTrust. In January 2004 and again in 2005, Mr. Chesney was recognized by Robb Report Worth Magazine as one of the TOP 100 Financial Advisors in America. He has served on the Board of Directors for both the Baton Rouge CLU/ChFC Association and the Baton Rouge Chapter of the IAFP. He served on the board of the Greater BR Food Bank from 1996 until 2002 and was the Board President in 2002. Mr. Chesney was also Board Treasurer of the General Health System Foundation in 2002. Mr. Chesney received a Bachelor of Business Administration from Millsaps College, where he graduated cum laude. He then went on to do graduate work in economics and finance at Louisiana State University. He holds, a number of professional designations including: Certified Financial Planner (CFP ), Chartered Financial Consultant (ChFC ) and Certified Investment Management Analyst (CIMA ). He is a member of the Association for Investment Management and Research (AIMR) and the International Association of Financial Planners (IAFP). Mr. Chesney does not have, nor has he ever had, any disciplinary disclosures. Mr. Chesney is not actively engaged in any other investment-related business beyond his capacity as a Senior Managing Director of WEALTHCARE. Mr. Chesney does not receive any commissions, bonuses or other compensation based on the sale of securities or other investment products or for referring advisory clients to other third party providers. internet. Mr. Chesney does supervise personnel who support ASP technology clients of the firm (approximately 5% of his oversight focus). The vast majority of Mr. Chesney s time is spent in support of marketing and sales of the firm s advisory services as well as in support of in-the-field advisory professionals, institutional subadvisory relationships and his own personally-advised WEALTHCARE clients. On behalf of WEALTHCARE, David Loeper, as CEO, is the person responsible for the supervision of Mr. Chesney. Mr. Loeper can be reached at (804) 521-3421. Copyright 2011-2012 Wealthcare Capital Management - All rights reserved. P a g e 3

PLANNING TEAM Karen K. Nelson (Born: 1959) Ms. Nelson is located at our main office in Richmond, Virginia and can be reached at (804) 644-4711 if you have any questions. Allegheny Community College, A.A. Computer Science Frostburg State University, B.S. Business Administration 2000 Present Wealthcare Capital Management, Inc. Senior Managing Director, Chief Advisory Services Officer Ms. Nelson comes to WEALTHCARE, Inc. with extensive project management and systems analysis experience in various vertical markets. As Senior Advisory Services Officer, Ms. Nelson supervises the Planning Team of Registered Investment Adviser Representatives ( RIARs ) which is responsible for the development and analysis of all client plan recommendations. Ms. Nelson is also responsible for WEALTHCARE s technology infrastructure and supervises all programmers and help desk staff. Ms. Nelson has managed many diverse development projects ranging from financial application development projects to a major supply chain re-engineering project. Prior to joining WEALTHCARE in 2000, Ms. Nelson served as Manager of Mid-Atlantic Application Development for The Allied Group. While at The Allied Group, Ms. Nelson managed application development projects for such companies as: AOL Time Warner, National Geographic, Sun Microsystems, General Motors, Phillip Morris, NEXTEL and others. Prior to working with The Allied Group, Ms. Nelson was with the Westvaco Corporation managing numerous system analysis and information system development projects. Ms. Nelson does not have, nor has she ever had, any disciplinary disclosures. Ms. Nelson is not actively engaged in any other investment-related business beyond her capacity as Chief Advisory Services Officer of WEALTHCARE. Ms. Nelson does not receive any commissions, bonuses or other compensation based on the sale of securities or other investment products or for referring advisory clients to other third party providers. internet. As senior manager for the firm s technology development and IT systems team, Ms. Nelson does contribute a portion of her time (approximately 25-50%) to IT development, systems support, design and client servicing of the technology side of the company. On behalf of WEALTHCARE, Robert Wilson, as CFO and CCO, is the person responsible for the supervision of Ms. Nelson. Mr. Wilson can be reached at (804) 521-3420. PORTFOLIO MANAGEMENT TEAM Brandy N. Weiberg (Born: 1981) Brandy Weiberg is located at a satellite office in Brookfield, Wisconsin and can be reached at (804) 521-3435 if you have any questions. University of Mary Washington, B.S. Business Administration 2004 Present Wealthcare Capital Management, Inc. Vice President/Portfolio Management Ms. Weiberg joined Wealthcare in May 2004. As Vice President of Portfolio Management, Ms. Weiberg supervises the Portfolio Management Team which is comprised of RIARs responsible for the reconciliation of all client assets to those client s third-party financial securities custodial accounts advised by WEALTHCARE, portfolio management and accounting, trading operations and related client services and performance measurement for client accounts, as well as securities research. During her tenure at WEALTHCARE, Ms. Weiberg has worked in numerous functions including consulting with major institutional clients of the firm on technical aspects of the Wealthcare System, relationship management with corporate retirement plans and ERISA third party administrators, model portfolio design and research for college and university retirement plans, researching and designing trading systems and processes, designing individual Wealthcare plans, as well as accounting support, tax analysis and trade approvals. Ms. Weiberg does not have, nor has he ever had, any disciplinary disclosures. Ms. Weiberg is not actively engaged in any other investment-related business beyond her capacity as Vice President of Portfolio Management. Ms. Weiberg does not receive any commissions, bonuses or other compensation based on the sale of securities or other investment products or for referring advisory clients to other third party providers. internet. As a subject matter expert for the firm s technology, Ms. Weiberg does contribute a portion of her time (approximately 5%) to the design and testing of the technology platform of the company. On behalf of WEALTHCARE, Robert Wilson, as CFO and CCO, is the person responsible for the supervision of Ms. Weiberg. Mr. Wilson can be reached at (804) 521-3420. Copyright 2011-2012 Wealthcare Capital Management - All rights reserved. P a g e 4

PROFESSIONAL DESIGNATIONS Definitions & Continuing Education Requirements Accredited Asset Management Specialist SM (AAMS ) The College for Financial Planning awards the ACCREDITED ASSET MANAGEMENT SPECIALIST SM AND AAMS designation to students who (i) successfully complete the self-study program consisting of 12 modules (100 120 hours) required; (ii) pass the final examination; and (iii) comply with the Code of Ethics, which includes agreeing to abide by the Standards of Professional Conduct and Terms and Conditions. Applicants must also disclose any criminal, civil, self-regulatory organization, or governmental agency inquiry, investigation, or proceeding relating to their professional or business conduct. Conferment of the designation is contingent upon the College for Financial Planning s review of matters either self-disclosed or which are discovered by the College that are required to be disclosed. Successful students receive a certificate and are granted the right to use the designation on correspondence and business cards for a twoyear period. Continued use of the AAMS designation is subject to ongoing renewal requirements. Every two years individuals must renew their right to continue using the AAMS designation by: (i) completing 16 hours of Conditions, and self disclose any criminal, civil, self-regulatory organization, or governmental agency inquiry, investigation, or proceeding relating to their professional or business conduct; and (iii) paying a biennial Accredited Investment Fiduciary Analyst (AIFA ) The Accredited Investment Fiduciary Analyst (AIFA ) designation is granted by the Center for Fiduciary Studies, LLC, a Fiduciary360 (fi360 ) company to advisers who: (i) must have successfully completed the AIF program offered by fi360; (ii) have attained a bachelor s degree or greater; (iii) complete AIFA trading in a 3- day classroom class; (iv) pass the final examination; and (v) comply with the Code of Ethics, which includes agreeing to abide by the Prudent Practices for Investment Fiduciaries. Continued use of the AIFA designation is subject to ongoing annual renewal requirements including (i) affirming compliance with the Code of Ethics; (ii) completing ten hours of continuing professional education; and (iii) pay annual dues. Fi360 promotes a culture of fiduciary responsibility and improves the decision making processes of investment fiduciaries and other financial service providers. The AIF Training provides a unique comprehensive overview of fiduciary standards of excellence, asset allocation, preparation of investment policy statements, manager search and due diligence, performance measurement, and other related subjects. Those who earn the AIF mark successfully complete a specialized program on investment fiduciary standards of care and subsequently passed a comprehensive examination. Accredited Wealth Management AdvisorSM (AWMA ) The College for Financial Planning awards the ACCREDITED WEALTH MANAGEMENT ADVISOR SM AND AWMA designation to students who: (i) successfully complete the self-study program consisting of 15 modules (120 150 hours) required; (ii) pass the final examination; and (iii) comply with the Code of Ethics, which includes agreeing to abide by the Standards of Professional Conduct and Terms and Conditions. Applicants must also disclose of any criminal, civil, self-regulatory organization, or governmental agency inquiry, investigation, or proceeding relating to their professional or business conduct. Conferment of the designation is contingent upon the College for Financial Planning s review of matters either self-disclosed or which are discovered by the College that are required to be disclosed. Successful students receive a certificate and are granted the right to use the designation on correspondence and business cards for a twoyear period. Continued use of the AWMA designation is subject to ongoing renewal requirements. Every two years individuals must renew their right to continue using the AWMA designation by: (i) completing 16 hours of Conditions, and self disclose any criminal, civil, self-regulatory organization, or governmental agency inquiry, investigation, or proceeding relating to their professional or business conduct; and (iii) paying a biennial Certified Financial Planner (CFP ) The CERTIFIED FINANCIAL PLANNER, CFP and federally registered CFP (with flame design) marks (collectively, the CFP marks ) are professional certification marks granted in the United States by Certified Financial Planner Board of Standards, Inc. ( CFP Board ). The CFP certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP certification. To attain the right to use the CFP marks, an individual must satisfactorily fulfill the following requirements: (i) complete an advanced college-level course of study addressing the financial planning subject areas that CFP Board s studies have determined as necessary for the competent and professional delivery of financial planning services; (ii) attain a Bachelor s Degree from a regionally accredited United States college or university (iii) pass the comprehensive CFP Certification Examination which is administered in 10 hours over a two-day period; (iv) complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year); and (v) agree to be bound by CFP Board s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP professionals. Individuals who become certified must complete the following ongoing education and ethics requirements in order to maintain the right to continue to use the CFP marks: (i) complete 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the Standards of Professional Conduct, to maintain competence and keep up with developments in the financial planning field; and (ii) renew an agreement to be bound by the Standards of Professional Conduct. The Standards prominently require that CFP professionals provide financial planning services at a fiduciary standard of care. This means CFP professionals must provide financial planning services in the best interests of their clients. Qualified Plan Financial Consultant (QPFC) QPFC is the professional credential for financial professionals who sell, advise, market or support qualified retirement plans. The QPFC program is overseen by the American Society of Pension Professionals & Actuaries (ASPPA). The QPFC program provides an understanding of general retirement planning concepts, terminology, distinctive features of qualified plans and the role of retirement plan professionals. QPFC is not an entry-level credential. A candidate will be expected to demonstrate a general proficiency of plan administration, compliance, investment, fiduciary, and ethics issues. In addition to passing a series of four examinations, a candidate must have a Series 6, 7, or 65 through FINRA as well as two letters of reference demonstrating at least two to three years of retirement plan related experience. Certified Investment Management Analyst (CIMA ) The Investment Management Consultants Association (IMCA) grants the professional designation Certified Investment Management Analyst TM (CIMA ). The CIMA certification signifies that an individual has met initial and on-going experience, ethical, education, and examination requirements for investment management consulting, including advanced investment management theory and application. Prerequisites for the CIMA certification are (i) three years of financial services experience and (ii) an acceptable regulatory history that includes no disclosable criminal or regulatory events. To obtain the CIMA certification, candidates must (i) pass an online Qualification Examination; (ii) successfully complete either a one-week classroom education program provided by a Registered Education Provider at an AACSB accredited university business school or a five month self study program; (iii) pass an online Certification Examination; and (iv) adhere to IMCA s Code of Professional Responsibility, Standards of Practice, and Rules and Guidelines for Use of the Marks. CIMA designees must report 40 hours of continuing education credits, including two ethics hours, every two years to maintain the certification. Certified Investment Management Consultant (CIMC ) The Investment Management Consultants Association (IMCA) grants the professional designation Certified Investment Management Consultant TM (CIMC ). As of December 2003, new CIMC certifications are no longer granted. When the designation was issued, its content focused on investment consulting. Current CIMC designees can maintain the designation through IMCA. CIMC designees are required to adhere to IMCA s Code of Professional Responsibility, Standards of Practice, and Rules and Guidelines for Use of the Marks. CIMC designees must report 40 hours of continuing education credits, including two ethics hours, every two years to maintain the designation. Certified Public Accountant (CPA) Certified Public Accountants ( CPAs ) are licensed and regulated by their state boards of accountancy. While state laws and regulations vary, the education, experience and testing requirements for licensure as a CPA generally includes: (i) a minimum college education (typically 150 credit hours with at least a baccalaureate degree and a concentration in accounting); (ii) a minimum experience level (most states require at least one year of experience providing services that involve the use of accounting, attest, compilation, management advisory, financial advisory, tax or consulting skills, all of which must be achieved under the supervision of or verification by a CPA); and (iii) successful passage of the Uniform CPA Examination. In order to maintain a CPA license, states generally require the completion of 40 hours of continuing professional education (CPE) each year (or 80 hours over a two year period or 120 hours over a three year period). Additionally, all American Institute of Certified Public Accountants (AICPA) members are required to follow a rigorous Code of Professional Conduct which requires that they act with integrity, objectivity, due care, competence, fully disclose any conflicts of interest (and obtain client consent if a conflict exists), maintain client confidentiality, disclose to the client any commission or referral fees, and serve the public interest when providing financial services. The vast majority of state boards of accountancy have adopted the AICPA s Code of Professional Conduct within their state accountancy laws or have created their own. Chartered Financial Consultant (ChFC ) The ChFC designation has been a mark of excellence for almost thirty years and currently requires nine college-level courses, the most of any financial planning credential. Average study time to earn the ChFC exceeds 450 hours. Required courses cover extensive education and application training in financial planning, income taxation, investments, and estate and retirement planning. Additional electives are chosen from such topics as macroeconomics, financial decisions for retirement, and executive compensation. ChFC designees must meet experience requirements and adhere to continuing education and ethical standards. The credential is awarded by The American College, a non-profit educator with an 84-year heritage and the highest level of academic accreditation. Chartered Retirement Planning CounselorSM (CRPC ) The College for Financial Planning awards the CHARTERED RETIREMENT PLANNING COUNSELOR SM AND CRPC designation to students who: (i) successfully complete either the online instructor led or self-study program; (ii) pass the final examination; and (iii) comply with the Code of Ethics, which includes agreeing to abide by the Standards of Professional Conduct and Terms and Conditions. Applicants must also disclose of any criminal, civil, self-regulatory organization, or governmental agency inquiry, investigation, or proceeding relating to their professional or business conduct. Conferment of the designation is contingent upon the College for Financial Planning s review of matters either self-disclosed or which are discovered by the College that are required to be disclosed. Successful students receive a certificate and are granted the right to use the designation on correspondence and business cards for a two-year period. Continued use of the CRPC designation is subject to ongoing renewal requirements. Every two years individuals must renew their right to continue using the CRPC designation by: (i) completing 16 hours of Conditions; (iii) self disclose any criminal, civil, self-regulatory organization, or governmental agency inquiry, investigation, or proceeding relating to their professional or business conduct; and (iv) paying a biennial Retirement Plan Associate (RPA) The Retirement Plans Associate (RPA) designation is granted by the International Foundation of Employee Benefit Plans (the International Foundation ) and the Wharton School of the University of Pennsylvania. The International Foundation provides education, information and research services for individuals and organizations that work with employee benefits, compensation and financial literacy in the United States and Canada. For an individual to receive the RPA designation, the individual must complete a series of self-study or classroom completion of three courses that are part of the CEBS curriculum and successfully pass a computer-based exam for each course. There are no continuing education requirements for the designation. Copyright 2011-2012 Wealthcare Capital Management - All rights reserved. P a g e 5