Frequently Asked Questions

Frequently Asked Questions 2014-12-04T01:17:08+00:00

Settlement Planning Education Center

What is Settlement Planning Education Center?

Settlement Planning Education Center (“SPEC”) is an online education provider specializing in settlement planning, financial planning, and legal issues in settlement planning.  At SPEC, we aim to provide high-quality education focused on areas that will help settlement planners excel in their profession.

SPEC is a program that allows the classroom to extend onto the web. Much like a standard classroom, students have assignments and quizzes to complete. However, unlike a standard classroom, SPEC’s virtual classroom may be accessed from any location that has an internet connection. Further, students may proceed through the program at their own pace. Quizzes are open book and are not timed but must be finished in one sitting.

How do I create an account at SPEC?

You can create an account at SPEC by clicking on the following link:

Register for SPEC

After registering, you will be able to log in to the SPEC website.  You will also receive an email from SPEC with your username for future reference.

RSP

How much does the program cost?

The total cost of the program will be about $4,750. Each Part of the RSP program costs $999, books cost roughly $750 (the required treatise in RSP Part 1 is about $700; the required textbooks for Parts 2 and 3 are about $50 total), and there is a $1,000 application fee payable to the Registry of Settlement Planners Board.

Will the courses be entirely online or will there be an on-campus portion?

The entire program is online.  The course content, including presentations, can be viewed on your computer, tablet, or phone.

How long will it take to complete the RSP courses?

It depends entirely on how hard you want to work and how much time you can devote to the program. In this self-paced program, the only limitation is that each Part must be completed within a year of registration. Once you have completed the coursework, you must submit a comprehensive settlement plan to the RSP Board.

What is the educational requirement?

At this time, Settlement Planning Education Center is the only education provider approved by the RSP Board. There are three courses: Part 1: Settlement Planning Seminar, Part 2: Law for Settlement Planners, and Part 3: Financial Planning for Settlement Planners.

Will the RSP courses count towards Continuing Education requirements?

You will be provided with a certificate of completion of each course that you can provide to any professional or licensing organization. Most organizations will count the course for as many as 40 hours of continuing education credit. Neither SPEC nor the Registry of Settlement Planners applies for the the continuing education for you.

What topics are covered?

The curriculum covers each of the topics required by the Registry of Settlement Planners to meet the education requirement of the RSP designation.  The curriculum for each section within each course can be viewed clicking on the RSP course.

How do I register?

You can register for the course on this website.  Simply create an account, add one of the RSP Parts (ex: RSP Part 1: Settlement Planning Seminar) to your cart, and check out.  This immediately enrolls you in the program.

On the checkout page, you will be able to pay using PayPal.  PayPal enables you to pay with a credit card, debit card, or bank transfer.  SPEC never receives any of your financial information.

What are the benefits of obtaining the RSP designation?

The RSP designation shows that you meet the highest standards of professionalism in settlement planning. The knowledge and skills gained will set you apart from those who merely claim to be settlement planners. One of the goals of the RSP Board is to promote the designation so that plaintiff attorneys will insist on only using professionals with the RSP designation.

When can I use the designation?

Once you have successfully completed the education requirement, submitted a comprehensive plan that meets the RSP Board’s standards, and have worked in settlement planning for at least three years, you may apply to the RSP Board for admission to the Registry of Settlement Planners. You may not use the designation until you are notified that your application has been accepted.

What are the requirements to obtain the designation?

Application & Fee – Application filed with the RSP Board when Applicant believes the requirements have been met.
Education – Applicant must pass the courses offered through Settlement Planning Education Center.
Experience – Three years of qualifying experience in the settlement planning field.
Ethics – The RSP Board will perform a background check on each applicant. In addition, the Applicant must pledge to abide by the RSP Code of Professional Conduct.
Comprehensive Plan – A satisfactory written comprehensive settlement plan must be prepared by the Applicant and submitted to the RSP Board.

Once I obtain the RSP designation, what are the requirements to maintain it?

Continuing Education – Members must complete 15 hours of continuing education each year.
Ethics – Members must comply with the requirements of the RSP Code of Professional Conduct.

Can you explain your affiliation with Texas Tech University?

The educational courses provided by Settlement Planning Education Center are based on content originally created in collaboration with Texas Tech University.  At this time, Settlement Planning Education Center remains affiliated with Texas Tech University’s Department of Personal Financial Planning.

Why Texas Tech University?  The Personal Financial Planning department at Texas Tech is consistently rated as one of the best in the nation. The strength of the RSP program is drawn in large part from the significant contributions by the PFP faculty at Texas Tech.

What is the relationship between the Society of Settlement Planners and the Registry of Settlement Planners?

The Registry of Settlement Planners is independent of the Society of Settlement Planners (SSP). However, the SSP was instrumental in getting the Registry of Settlement Planners started and supplied the initial funding. The missions of the Registry of Settlement Planners and the SSP are congruent.

Is the RSP designation appropriate for defense-oriented structured settlement brokers?

The RSP program is designed to certify members who are minimally qualified to practice without supervision as settlement planners to injured parties. While defense-oriented brokers have fewer opportunities to develop the type of relationship with an injured party to be trusted with in-depth knowledge of their goals and resources, the knowledge gained in the RSP program will help anyone involved in settlement planning perform their functions better.  Therefore, the education and the RSP designation are appropriate for both defense and plaintiff brokers.