IARFC Membership

IARFC Membership
We serve the
professional advisors
who help their clients
wisely spend, save,
invest, insure and plan
for the future in order
to achieve financial
independence and
peace of mind.
IARFC
INTERNATIONAL ASSOCIATION OF
REGISTERED FINANCIAL CONSULTANTS
,
what s in it for me?
Why Acquire the RFC Credential?
The RFC shows that you are a practicing professional who knows how to
prepare an integrated plan from start to finish and run your own practice
efficiently. Most of our members have two or three credentials, acquired as they
entered financial services — perhaps specializing in insurance, investments or
taxes. Nevertheless, those courses did not train them how to conduct the
Financial Planning Process (a cycle of professional service) and how to produce
written financial plans.
What is Unique about RFC?
We require the most hours of continuing education of the professional
designations that we have surveyed, including an Ethics component.
Since our administration is not complex, compliance has not been a problem.
It is our belief that the advisor who is referred to as a financial planner needs the
training and tools to propose, produce and implement comprehensive personal
financial plans. Despite that seemingly obvious requirement, many financial
advisors have taken courses and passed exams but not had specific training or
practice in preparing plans. Our coursework is very plan and process-specific so
the RFC knows how to skillfully analyze the client’s situation and produce the
right plan for that person.
IARFC
Board of Directors
Edwin P. Morrow, Chairman & CEO
CLU, ChFC, RFC®
H. Stephen Bailey, Vice Chairman
LUTCF, CEBA, CEP, CSA, RFC®
Lester W. Anderson, President
MBA, RFC®
Lloyd Lowe Sr. , Vice President
MBA, RFC®
Rosilny H. Overton, Vice President
MS, Ph.D., CFP®, RFC®
Jeffrey H. Rattiner, Treasurer
CPA, CFP®, MBA, RFC®
Nicholas A. Royer, Secretary
RFC®
What are the IARFC Goals?
We simply want the public to have the best financial advice available. There is
an enormous need for qualified, trained, educated, experienced and ethical
practitioners to guide individuals, families and small businesses. The IARFC’s
mission is to aid the public by supporting practitioners in helping their clients
attain and retain financial independence and minimize risk.
What is the IARFC… Not?
The Association has no aspirations to become a government regulatory
body (either an SRO or a PRO). There are more than enough regulators
now concerned with the delivery of financial services and products.
We also do not have a bias toward or against any method of compensation —
fees, commissions, salary. We assert that a planner’s training, character and
integrity are the determining factors in the quality of advice, not the method of
compensation. We do expect an RFC to put the client’s interests first, but the
IARFC will not produce standards of practice that rigidly prescribe the way in
which members deliver services.
Hank Brock
CPA, MBA, CLU, RFC®
Isabel J. Cooper
MBA, RFC®
Inshan Meahjohn
BA Hons Mgt, MABE, RFC®
Jon M. Rogers
Ph.D., CLU, ChFC, RFC®
The IARFC is a non-profit professional credential organization
formed to foster public confidence in the financial planning
profession, to help financial advisors exchange planning techniques,
and to recognize practitioners who are truly committed to ethical
standards and continuous professional education.
Because there are no consistent licensing requirements for the
various persons who call themselves “financial planners” the public
has a critical need for a method of distinguishing the qualified and
dedicated financial advisors.
We hold the RFC® designation to be different and perhaps more encompassing. However the IARFC does not
assert that any other professional designation or their organizations are inferior. The public is not served by
divisive criticism, but rather by dedicated and well-prepared professionals. Our goal is to encourage advisors,
with a strong emphasis on the importance of continuing education.
By offering practice management tools and high-level professional education, the IARFC elevates the quality of
advice and service delivered to the public.
The IARFC offers the tools for an efficient and effective practice, including marketing ideas, technical and
professional information, plan writing components, and networking opportunities with the leading practitioners
who are eager to share their concepts.
IARFC Code of Ethics
I will at all times put my client’s interests above my own.
I will maintain proficiency in my work through continuing education.
When fee-based services are involved, I will charge a fair and reasonable fee based on the amount of time and skill required.
I will abide by both the spirit and the letter of the laws and regulations applicable to financial planning services.
I will give my client the same service that I would apply to myself in the same circumstances.
®
The IARFC provides the public with a convenient access to a pool of well-qualified practitioners from which to
choose a financial advisor. It is the only professional organization that requires all of its members to meet and
document stringent requirements: Experience, Education, Examination, Licensing, Integrity, Ethics, Continuing
Education, Ethics CE, Compliance and Plan Writing Capacity.
the RFC designation
The Registered Financial Consultant, RFC® is a professional
designation awarded by the IARFC to financial advisors who meet
high standards of education, experience and integrity.
requirements
What you need to become an RFC®
The IARFC By-laws Requirement. It is the firm conviction of the International Association of Registered Financial
Consultants that the ongoing pursuit of continuing education by the professional financial advisor is critical in a
social and economic environment that is ever-changing. The knowledge learned in the classroom or in the
pursuit of a professional designation will grow stale, and even dangerous, if it is not enhanced by a commitment
to continued learning.
We recognize that the delivery of financial analysis and service to consumers also encompasses ethical and
effective marketing; the use of tools and procedures; and the efficient administration of a financial practice.
It is the responsibility of every financial advisor and IARFC designee to continue their professional education and
to maintain appropriate records to substantiate this significant performance.
Each designation holding IARFC member (MRFC, RFC, and RFA) must complete 40 units of professional
Continuing Education (CE) every year.
•
4 hours must be related to ethics and the ethical practices of a professional financial advisor.
•
36 hours from one or more of the accepted subject topics
The IARFC firmly believes that in order to effectively counsel and serve clients, it is necessary for the financial
advisor to aggressively maintain professional skills and knowledge in a rapidly advancing society.
Unit Definition. Each unit of continuing education is 50 minutes of attendance or application.
Continuous Certification. With each annual renewal, the member must assert that 40 units have been successfully
completed. Certificants may request a waiver of the CE requirement, but such waiver is subject to review by the
Certification Board. All requests for waivers must be accompanied by documentation supporting the waiver
request.
Calendar Year Recording. Commencing with the first calendar year following receipt of the designation, and
continuing annually thereafter, each designee must
meet the CE requirements.
Record Retention. The designee must maintain CE
records for two calendar years beyond the year in
question. After that, records may be discarded.
CE Audit Procedure. The Certification Board will
conduct random audits of designees for CE
records, and may do so upon challenge. During the
audit, a designee will be requested to provide
evidence of CE compliance that may include
records, certificates or other evidence that
substantiates CE completion.
IARFC Chairman, ED Morrow, opening the first Congress of the
€uropean Financial Planning Association in Barcelona, Spain.
Take the Next Step! Acquire the skills and tools for a more profitable financial planning practice.
Developed by Ed Morrow, veteran business consultant and practice management expert.
Effective training streamlines your practice, through CD, or in the classroom.
Six Courses
FPP 101
Client Acquisition
FPP 102
Marketing for Financial Advisors
FPP 103
The Client Engagement
FPP 201
Information Gathering
FPP 202
Plan Development
FPP 203
Recommendations & Monitoring
Call today for details: 800.532.9060
For over 25 years, the International Association of Registered Financial Consultants (IARFC) has provided the
tools you need to succeed and to deliver high quality advice and products.
©2012 Financial Planning Process™ course developed by the IARFC
course credit
Financial Planning Process™
valuable tools
Publications
The Register — monthly membership publication
Journal of Personal Finance — IARFC academic journal
Financial Advisors magazine
Producers Web
Horsesmouth
Offshore Press
Client Marketing
Financial Insider newsletter
20/20 Newsletter
The RFC® Certificate
Conferences and Learning
Financial Planning Process™ course
CE @ SEA™ Cruise
Business Owner Consulting Workshop
Practice Management Services
Data Forms
Modular Plans
Personal Note Cards
Document Filing Systems
Client Marketing Pieces (Brochures)
Referral and Information Request Cards
About IARFC
General Public
Your Member Profile
IARFC Career Center
LinkedIn
Facebook
Smarsh Financial Visions Member Website
Publications
Education and Events
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Member Profile
Edwin P. Morrow (RFC®)
Financial Planning Consultants, Inc.
Financial Planning Building
PO Box 42430
Middletown, OH 45042-0430
USA
Member Magazine
Phone: 513 424 1656
Fax: 513 424 5752
Email: [email protected]
Website: http://www.financialsoftware.org
Fee Range or Basis:
IARFC News
Develop a New Market
- Fee-Based Planning for
Business Clients
New Member Affiliate
Program - IMG International Medical
Group
Register – IN THIS ISSUE
from latest publication
From The Chairman What is Your
Preference?
Internet Presence
Members
Introducing a New E&O
Program for Investment
Advisors affiliated with
IARFC by CalSurance
Planning Fee of $1,200 to $6,000 - depending on the complexity of estate holdings and business interests. (See
Statement of Services)
Qualifications:
Centre College of Kentucky and University of Louisville School of Law, plus having served as instructor for many
financial planning courses and Practitioner in Residence at Wright State University for three years.
Years Experience: 46
Designations:
RFC® , CEP, CFP®, CHFC, CLU
Professional Associations:
IARFC, FPA, MDRT, NICEP, SFSP
Financial Services Offered:
Asset Protection Business Coaching Business Planning Charitable Planning Education Planning
Estate Planning Exec Comp. Plans Personal Coaching Portfolio Management Retirement Planning
Seminars/Workshops Tax Planning
Financial Products Offered:
Annuities Buy/Sell Plans Charitable Foundations
Mortgage Loans Mutual Funds Precious Metals
Disability Income Ins.
Life Insurance
Long Term Care Ins.
Statement of Services:
For over 30 years our firm provided comprehensive personal financial planning to individuals, couples, retirees,
business owners and corporate executives. Our planning for closely-held businesses included valuation and
business continuity, techniques to reduce taxation, key employee incentives, business plan and marketing plan
development. FPC pioneered in the development of planning software and the construction of plans for corporate
executives. We offered employer-sponsored retirement planning in an educational seminar format, followed by
private conferences with each employee and spouse to help them effectively use company benefits and coordinate
them with other holdings to assure financial independence. Since 1999 we have focused entirely on the training
and support of financial advisors through the continued development of the Plan Builder and Practice Builder
professional software programs. Because our services no longer involve the direct sale of financial products or the
preparation of comprehensive plans, we have assisted clients in obtaining professional services, insurance
coverages or investments from qualified advisors. (Mr. Morrow currently serves as the Chairman & CEO of the
IARFC and travels across the world establishing RFC Courses and lecturing to financial advisors.)
Securities Offered Through: A well recognized broker/dealer would be listed in this position.
Copyright ©2011 IARFC. All Rights Reserved.
View your member profile on our newly designed website!
www.IARFC.org
Professional Recognition Items
Professional Insignia
IARFC Code of Ethics plaques
IARFC Logos
Media Releases
Financial Software
The Builder Suite
Virtual Sales Assistant
IPS Advisor Pro
Member Discounts
CopyTalk
Sprint
Staples
IARFC Cruise Conference
In 1993, a new board of directors rechartered the association, clarifying the bylaws and allowing for the expulsion
of non-conforming members. The revised group had less than 300 members, but over the next six years it
codified admission procedures, added benefits and doubled membership.
In 1995, the IARFC participated in its first Cruise/Conference, and these events have been successful in providing
continuing education in a very attractive venue.
In 1996, our website IARFC.org was launched. A new licensing exam was developed to accept applicants who
met all other requirements without having completed a traditional academic course with rigid examinations.
In 1997, the association held its first Financial Advisors Forum at Yale University, and followed it in 1998 at
Stanford, where the attendees paid homage to the founder of the financial planning movement, Loren Dunton.
In 1998, the IARFC created the Registered Financial Associate (RFA) designation for recent graduates of
financial services curricula who had passed exams and prepared plans, but who were without experience.
history
The IARFC was founded in 1984 as an education and practice management exchange of highly qualified
planners that met stringent education, licensing, ethics and continuing education requirements.
In late 1999, the association offices were transferred to Ohio. Membership was then 648, and it has continued to
grow exponentially as new services and courses are developed.
In 2000 the association expanded its international focus, with courses being offered in Malaysia and Taiwan. By
the end of 2007, there were classroom courses offered in twelve countries, including China and India.
In 2008 the association began offering the Financial Planning Process™ course in the US, which is unique because
it requires the submission of both modular and comprehensive plans in addition to coursework and exams.
In 2011, the association continues to look to the future, building membership and quality discounts and programs
for its members. The Business Owner Consulting Workshop developed for financial consultants.
In 2012, the association once again launched the Financial Planning Competition for undergraduate students
enrolled in a curriculum for personal financial planning.
2000
International expansion
1996
1993
IARFC.org
website
launched
Association
rechartered
1998
1984
RFA designation
created
Association
established
in Florida
1980
1990
Plan Competition relaunched
2012
2000
1990
Association management
transferred to Texas,
then Missouri
2012
2008
Financial Planning
Process™ course
introduced
1995
First Cruise
Conference
1997
First Financial
Advisors Forum held
at Yale University
1999
Offices relocated to
Middletown, Ohio
International Association of
Registered Financial Consultants
Financial Planning Building
2507 North Verity Parkway
P.O. Box 42506
Middletown, OH 45042-0506
800.532.9060
[email protected]
www.IARFC.org
IARFC
Fax: 513 424 5752
Phone: 800 532 9060
Website: www.IARFC.org
E-mail: [email protected]
Financial Planning Building
2507 North Verity Parkway
Post Office Box 42506
Middletown, OH 45042-0506
INTERNATIONAL ASSOCIATION OF
REGISTERED FINANCIAL CONSULTANTS
Application for
IARFC Membership
Annual Membership Dues:
$200
Nonrefundable Application Fee (one time): $50
Total First Year:
$250
Please Print
Your Name________________________________________________________________________________________________________________
(Exactly as you want it to appear on your full-sized 16” x 20” RFC Membership Certificate, excluding degrees or other designations)
Mr.
Mrs.
Ms.
Other__________ Your Preferred Salutation/Nickname (i.e., "Bill")________________________________________
First Name____________________________ Middle____________________________ Last___________________________________________
Check Enclosed $_______________ or
Credit Card No._____________________________________________ Expires_____________
Name of Business__________________________________________________________________________________________________________
Business Address_________________________________________ Ste #_________ City____________________ State____ Zip____________
Phone___________________________ Fax___________________________ Business E-Mail__________________________________________
Business Website URL______________________________________________________________________________________________________
Residence Address______________________________________________ City________________________ State______ Zip_____________
Phone____________________________ Birthdate_________________ IARFC Sponsor, if any_________________________________________
Your Educational Background (Since High School)
Name and Address of Institution
Location
From Mo/Yr
To Mo/Yr
Course or Major
Graduate?
Degree
FINRA Member Firm (if any)____________________________________________________ FINRA CRD No._____________________________
Securities Licenses:
Series 7
Insurance Licenses:
Life
Series 6, 22 or 62
Health
Series 24
Variable Contracts
Series 27
Series 65
Prop. & Casualty
Other_________________________
Other___________________________________
Primary Insurance Company (if any)___________________________________________________________________________________________
Affiliated with an SEC Registered Investment Advisor (RIA)?
Designations:
LLB
LLM
AAMS
LUTCF
AEP
MBA
CFA
MS
Yes
No
Name of RIA________________________________________
CFP
ChFC
CIMA
CLU
CPA
CPA/PFS
CRSA
EA
FSS
JD/
MSFS
MSFM
Ph.D.
RFP
Other__________________________________________
Financial Services Education course(s): ���������������������������������������������������������������������������������������
_________________________________________________________________________________________________________________________
Financial Services Experience:
Number of years as a practitioner in the field of financial planning:
Current Practice Mode (check those which apply):
Insurance Products
Securities
Charge Plan Fees
Mutual Funds
Full time_____
Hourly or Modular Plan Fees
Trust Services
Part time_____
Portfolio Management Fees
Other________________________________________
Other Qualifications________________________________________________________________________________________________________
Please see the questions and signature requirements on the reverse side.
Questions relating to business and ethical conduct
Have you ever been refused a surety bond or other form of employment security?����������������������������������������������������������������������
Have you ever been denied or enjoined from selling or dealing in securities or from functioning as an Investment Advisor?���
Have you ever been arrested, indicted, or convicted for any felony or misdemeanor, except for minor traffic offenses?���������
Have you ever been known personally by any other name, or have you ever conducted financial activities,
conducted business or carried brokerage or bank accounts in any other name?����������������������������������������������������������������������
Have you ever become insolvent, failed in business or compromised with creditors?
If “Yes” – please provide the date name and location of court, disposition, liabilities, and assets.�����������������������������������������
Have you ever had a license, permit, certificate, registration or membership denied, suspended, revoked or restricted,
or have you had an application of such type ever withdrawn for cause?������������������������������������������������������������������������������������
Have you ever been the subject of any order, judgement, decree or other sanction of a foreign court, foreign exchange,
or have you ever been the subject of any action by a foreign or domestic governmental or regulatory agency?�����������������
Yes
Yes
Yes
No
No
No
Yes
No
Yes
No
Yes
No
Yes
No
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES” PLEASE ATTACH A WRITTEN EXPLANATION
The following should be read carefully by the applicant:
  1.I hereby certify that I have read and understand the foregoing statements and that my responses are true and complete to the best
of my knowledge.
  2.I hereby apply for IARFC registration and, in consideration of my application, I submit myself to the jurisdiction of the organization and
hereby verify that I agree to abide by all the provisions of the bylaws and regulations of the organization as they are and may be
amended; and I agree to comply with all such requirements, subject to right of appeal as provided by law, and I agree that any decision
as to the result of any examination(s) that I may be required to pass or annual CE requirements will be accepted by me as final.
  3. I further agree that neither the association nor its officers or employees shall be liable to me for action taken or omitted in official
capacity or in the scope of employment, except as otherwise provided in the statutes, bylaws, or the association’s rules and regulations.
  4. I authorize the organization to make available to any federal, state or municipal agency, or any securities or commodities industry
self-regulatory organization, any information they may have concerning me or to request confirmation of my status, and I release
those organizations, employees and agents, from any and all liability of whatever nature by reason of furnishing such information.
  5.I further agree that any part of the information contained in this application and any subsequent documents in my IARFC registration
file may be divulged to interested parties as part of the referral system for the benefit of members and the public.
  6. I hereby certify that I have a sound record of business integrity with no suspension or revocation of any professional licenses, and I
hereby subscribe to the IARFC Code of Ethics, a copy of which I have read and understand.
  7. It is agreed and understood that any material misrepresentation of facts or information given in this or subsequent application or
renewal may be cause for immediate revocation of membership and all its privileges, without refund of any dues or fees paid.
  8. I understand that failure to disclose any regulatory event, including suspensions or revocations, may disqualify me.
  9. I agree to maintain proficiency in my work by completing continuing education in the field of financial planning and counseling —
which can include subjects relating to practice management, delivery of professional services, portfolio management or financial
product application and service.
10.As an applicant for registration, I understand and agree that my RFC designation with the IARFC will not become effective until
submission of all required documentation in proper order and upon written acceptance by the IARFC.
11.I understand that all IARFC Certificates of Registration remain the property of the Association and must be destroyed or returned to
the Association should my membership or the right to display the designation certificate be suspended or terminated.
12.I understand that continuation of the RFC designation requires 40 hours of CE per year, which commences January of the year
following acceptance.
_________________________________________________
SIGNATURE OF THE APPLICANT (required)
How did you learn about the RFC?
Direct Mail
E-mail
Exhibit
Advertisement
__________________
DATE
Article
Association_______________
Insurance Co.__________________
Presentation by______________________________
_________________________________________________
SIGNATURE OF A WITNESS (required)
Broker/Dealer_____________
Partnership
Referral by ______________________________
IARFC website
RFC class
Other__________________________________________________________________________________________________________________
Please recommend associates or colleagues for the RFC designation — or the Financial Planning Process™ course:
Name_____________________________________________________ Name_____________________________________________________
Firm_______________________________________________________ Firm_______________________________________________________
Address___________________________________________________ Address____________________________________________________
City/State/Zip______________________________________________ City/State/Zip_______________________________________________
Phone__________________ Email_____________________________ Phone__________________ Email______________________________
IMPORTANT: Evidence of license, diploma or similar documents may be requested. However, you need not submit evidence with
the application. The Association is compensation neutral regarding plan or portfolio fees, insurance, securities or real estate
commissions, salary or bonus. The application fee is nonrefundable.
Submit form
Please Mail this Application — or Fax to: 513 424 5752
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