What Is a Retirement Management Advisor (RMA)?

There are many certifications for financial professionals. Each one specifies a distinct type of service that an advisor is qualified to offer. A retirement management advisor (RMA) is one such designation. You may consider working with this financial advisor when you need guidance and help in creating a personalized retirement income plan. Here’s what you need to know about retirement management advisors, and how they compare to other financial advisors.

What Is a Retirement Management Advisor (RMA)?

A retirement management advisor is a financial professional certified to provide their clients with custom retirement plans. This financial designation is used to delineate professionals who have undertaken additional education and training in the area of retirement planning.

There are several types of finance experts who may consider an RMA certification.

What separates retirement management advisors from other types of financial advisors is their approach to retirement planning. Rather than simply focusing on wealth accumulation, RMAs also work with their clients to create personalized retirement income plans that are designed to mitigate risk.

What Retirement Management Advisors Do

The RMA program is designed to offer advanced training and learning in the area of retirement planning. It focuses on retirement income planning and advising clients on how to accumulate and make use of retirement assets.

The program training focuses on helping advisors learn the necessary skills to create custom retirement income plans for their clients while balancing risk. According to the institute, RMA education uses a safety-first approach that applies a broader view to retirement planning beyond just how to build wealth.

The RMA coursework and exam covers several topics, including these:

Retirement phases
Advisory styles
Managing household balance sheets
Life-cycle financial planning
Household cash flow planning
Long-term planning
Tax planning
Asset allocation and risk management
Retirement withdrawal strategies and policy statements
Income annuities
Investment product selection
Methods for monitoring clients’ financial plans

The coursework also educates RMA candidates on the institute’s Code of Professional Responsibility, legal compliance and regulatory compliance for client account management.

Once the program is complete, a certified financial advisor should be armed with the necessary skills and knowledge to build retirement income plans that meet client needs while mitigating risk.

Requirements for Becoming an RMA

The retirement management advisor program is similar to other professional designations in that it has specific requirements one must meet in order to earn the certification.

Administered by the Investments and Wealth Institute, the RMA program is designed for financial services professionals who have three years of relevant experience or hold one of the following designations:

Those seeking an RMA certification must also agree to the Investments and Wealth Institute Code of Professional Responsibility. This code outlines specific guidelines for maintaining professional integrity as a financial professional.

The certification process requires completion of three steps:

RMA online course
RMA capstone course
RMA exam

The Institute estimates that about nine weeks of study are necessary to complete the online course. The capstone course is an in-person course that is taken over two days, while the exam, consisting of 100 questions, typically takes about three hours to complete.

Once you sign up for the certification program, you have two years to complete all requirements and earn your RMA designation. Like other designations, fees apply for the program.

In September 2025, Investments and Wealth Institute members paid $3,995 for the online course and capstone course, as well as one final exam. If you are not a member, you receive the Basic membership with your exam purchase. For access to greater resources and benefits, you can upgrade to the Signature IWI Membership for $495 more or the Elite IWI Membership for $795 more.

If you take the RMA exam and fail, retakes cost $225 each. You can retake the exam as many times as needed until you pass.

Working With a Retirement Management Advisor

If you are seeking a financial professional to help you manage your retirement plan, an RMA could be a good option.

Other financial advisors may offer a broader range of services beyond retirement, such as debt repayment or college planning. While those things are also important elements to include in a comprehensive financial plan, an RMA would put their primary effort and focus into helping you plan for retirement.

The Investments and Wealth Institute offers an online tool you can use to search for an RMA professional. When comparing potential candidates, it is important to ask the right questions. These are a great place to start.

What is your overall investment advisory strategy?
What services do you offer your clients?
What does your typical client’s age, income and overall financial situation look like?
How often do you communicate with clients, and what is your preferred method of communication?
How much do you charge for your services, and how do you determine your fees?
Have you ever been subject to any legal or disciplinary action as a financial professional?
How long have you been working as an RMA?
What other professional financial designations do you hold?

These kinds of questions can give you a better idea of what you can expect when working with a particular retirement management advisor.

It is also helpful to check out online reviews and ratings from organizations like the Better Business Bureau and FINRA to get an idea of a potential advisor’s reputation and track record. SmartAsset’s financial advisor matching tool can help connect you to vetted fiduciary financial advisors.

Regardless of how you find your advisor, pay close attention to the fees so you understand what you are paying for. Since fees detract from overall investment earnings, it is important to balance the quality of the services an RMA is offering against what they expect you to pay.

RMA vs. Other Retirement Certifications

The retirement management advisor designation is one of several certifications focused on retirement planning. While all of them deal with retirement income and strategy, each has its own focus and level of depth.

RICP. The Retirement Income Certified Professional (RICP), offered by The American College of Financial Services, centers on building retirement income strategies. Like the RMA, it covers Social Security, Medicare, annuities and withdrawal planning, but it is often considered more focused on product-based solutions for retirement income.
CRPC. The Chartered Retirement Planning Counselor (CRPC), offered by the College for Financial Planning, is designed for advisors who want practical training in guiding clients through pre- and post-retirement planning. It tends to be broader and less technical than the RMA or RICP, making it a common entry point for advisors working with retirement clients.
CFP®. The Certified Financial Planner (CFP®), while not specific to retirement, is the most widely recognized planning credential. CFP®s cover retirement as part of a much larger financial planning framework that includes taxes, investments, estate planning and insurance.

Compared with these designations, the RMA places more emphasis on balancing risk with income needs through a safety-first approach. It is designed for professionals who want advanced tools to create customized retirement income plans rather than general financial strategies.

Bottom Line

A retirement management advisor could be a good fit if you prefer a financial advisor with in-depth knowledge of creating retirement income plans. As with any other financial advisor, be sure to do your research beforehand so you connect with the professional best suited to help you achieve your financial goals.

Tips for Retirement Savings and Investments

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A good retirement calculator can give you quick insights into your best court of action, at no cost. Social Security income is a key part of many retirees’ income streams. Learn what you will be entitled to receive once you leave the workforce.