If you want to present yourself as a professional fiduciary and handle responsibilities like managing someone else's assets, you need to be licensed for it in California, starting from January 1, 2009. This rule does not apply to lawyers, certified public accountants, or agents practicing in certain tax areas, as long as they are working within their designated fields. However, if an enrolled agent goes beyond their allowed duties without a professional fiduciary license, they could face penalties.

If you are a professional fiduciary, you must have a valid and active license to operate. Don't try to work if your license has expired or is otherwise not in good standing.

If someone wants to call themselves a 'licensed professional fiduciary,' they must have an up-to-date, active license from the relevant bureau.

To become a licensed professional fiduciary, a person must meet several criteria, including being at least 21 years old, having no disqualifying legal history, submitting fingerprints for a background check, and completing mandatory prelicensing education. They must also pass a licensing exam and have either a bachelor's degree, an associate degree with three years of relevant experience, or five years of relevant experience. Additionally, applicants must agree to follow a code of ethics, consent to a credit check, submit a signed application under penalty of perjury, and pay a nonrefundable fee.

This law outlines the process for obtaining criminal background information on applicants. Applicants need to submit their fingerprints to the Department of Justice (DOJ) for checking their criminal record at both state and federal levels, including any pending charges. The DOJ then requests any federal records from the FBI, reviews the information, and decides if the applicant is suitable for their intended role. The DOJ also informs the relevant bureau of any future arrests and charges a processing fee for handling these tasks.

This law requires a bureau to keep detailed records about each professional fiduciary, who might handle roles like guardians or trustees. It keeps track of things like the names of clients, asset values, addresses, and any past disciplinary issues. If a fiduciary has been removed from a role or involved in complaints, the bureau records the details. Some of this information, such as asset values and disciplinary history, must be available to the public. Additionally, the bureau needs to publish certain information online, including license status. However, most details are kept confidential unless specified otherwise in the law.

This law requires the bureau to quickly decide whether to approve or deny a license to those who apply to become licensed professional fiduciaries. If they approve, they must let the applicant know and provide a certificate that shows they are officially recognized as a professional fiduciary.

This section explains that the bureau is responsible for checking if applicants for licensure meet the required qualifications. If someone doesn't qualify, has been convicted of a crime linked to fiduciary duties, engaged in fraud, or grossly mismanaged fiduciary responsibilities, they can't get a license. Additionally, anyone removed by a court from a fiduciary role due to intentional or reckless misconduct also cannot be licensed.

This law states that the bureau can refuse to grant a license for certain reasons listed in other sections. If you are denied a license, you have the right to appeal this decision, following the procedures set out in another part of the legal code.

This law states that to become licensed, an applicant must complete 30 hours of prelicensing education from a bureau-approved program, including at least one hour in cultural competency starting January 1, 2023. For license renewal or reactivation from retirement, 15 hours of continuing education are required annually, including at least two hours on ethics and cultural competency. Licensees cannot charge their clients for these educational courses. Cultural competency involves understanding cultural and ethnic considerations, particularly in providing services to various communities such as LGBTQ+, ethnic, and religious groups.

If you want a license, you must pass a test given by the bureau. The bureau decides how often the test is available and how often you can retake it if you fail. They offer the test on a computer, but might also use other methods.

If you want to offer educational programs that count toward the prelicensing or continuing education requirements, you need to get approval from the bureau first.

This section explains that a professional fiduciary's license expires one year after it's issued, specifically on the last day of the issue month. To renew it, a licensee needs to submit a renewal application, an annual statement, proof of completed continuing education, and pay a renewal fee. Renewal might be denied if the licensee has been involved in certain misconduct, such as committing a relevant crime, engaging in fraud, being dishonest or negligent in fiduciary duties, or being removed by a court for breaching fiduciary duty.

If you don't renew your license within three years after it expires, it can't be renewed, restored, or reinstated and is automatically canceled after that period. However, you can get it reinstated if you meet several requirements: apply again, meet education and fingerprinting demands, pass the licensing exam, and have no legal issues that would prevent you from getting a license.

This law explains how a professional fiduciary in California can put their license into "retired status" if they are no longer actively working. To do this, they need to apply and submit a specific statement as required. However, they can't put their license into retired status if their license is currently suspended, on probation, or under any disciplinary action. Once a license is retired, it doesn't need annual renewal. The bureau will set the rules for retiring a license and also for making it active again, which includes completing some education, submitting certain documents, and paying a fee.

If your professional license in California has been revoked or you've surrendered it, you can ask for it back or ask to reduce any penalties after at least a year. However, the director might require you to wait up to three years. If your license wasn't revoked, but you faced discipline like suspension, you can also make this request after a year. The director will decide on your request and may set conditions like a probationary license or more education.