Why Use a Registered Financial Consultant – RFC®?
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 consultant.
The Registered Financial Consultant (RFC) is a professional designation awarded by the International Association of Registered Financial Consultants (IARFC) to those financial consultants who can meet the high standards of education, experience, and integrity that are required of all its members.
The IARFC is a non-profit professional credentialing organization formed with the primary purpose of providing the public with convenient access to a pool of well-qualified financial consultants.
The IARFC is the only financial planning professional association that requires its members to meet the following seven stringent requirements:
1. Experience
Applicants must have a minimum of four years of experience as a full-time practitioner in the field of financial planning.
2. Education
Applicant must have earned a baccalaureate or graduate degree in financial planning or completed an IARFC approved curriculum at an accredited college or university.
3. Examination
The comprehensive RFC examination covers a wide range of subject matter; Principles of Personal Finance, Debt and Cash Flow Management, Employee and Government Benefits, Annuities, Securities, Investments and Asset Allocation, Life, Health and Casualty Insurance, Education and Special Needs Funding, Estate Planning, Survivor Income Needs Analysis, and Retirement Income.
4. Licensing
Applicants must have met the licensing requirements for securities and life and health insurance, or an applicant who is a fee-only planner and is not licensed must submit information on the applicant’s Registered Investment Advisor affiliation.
5. Business Integrity
Applicant must have a sound record of business integrity with no suspensions or revocation of any professional licenses.
6. Ethics
Applicant must subscribe and adhere to the RFC Code of Ethics.
7. Continuing Education
All members must agree to devote a minimum of 40-hours per year of continuing education in the field of personal finance and professional practice management.
Governing Documents
IARFC® is the sole body authorized to award and support the Association’s designations, credentials, and membership which are widely recognized and exemplify a level of competence in the field. The Governing Documents provide an overall source of leadership and direction for the Association.
Part of that competence relates to an understanding that the designee/credential holder and the member will abide by the Code of Ethics, thereby protecting the public they are called to serve.
All designees/credential holders and members must agree to uphold, abide by, and practice in accordance with the IARFC Code of Ethics in order to protect the value of their designation/credential and provide assurance to all members of the public, most importantly those who are served by the designee/credential holder.
Code of Ethics
I will put my clients’ interests above my own at all times within the scope of my abilities.
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 clients the same service I would provide to myself in the same circumstances.
I will disclose all facts about fees, commissions, and any other sources of compensation received for services provided to clients.
Registered Financial Consultant
RFC®
© Copyright 2005- Wealth2k, Inc.
WEALTH2K, INC. DOES NOT PROVIDE INVESTMENT ADVICE.
The projections or other information generated by The Income for Life Model calculator related to total returns are hypothetical illustrations of mathematical principles that do not predict or project the performance of an investment or investment strategy. The computations of future returns are based upon assumed variables and inputs made directly by the user and does not guarantee future results. Moreover, the computations do not reflect investment costs or taxes, if any.
The Income for Life Model, Hybrid Time-Segmentation and ROI Reliability of Income are registered trademarks of Wealth2k, Inc. Three Big Risks, Constrained Investor, What’s My Income, What’s Your Income? and Income Floor are trademarks of Wealth2k, Inc. Knowing Your Number is Not the Same as Knowing Your Income is a service mark of Wealth2k, Inc.
Investing involves risk and you may incur a profit or a loss. There is no guarantee this model will perform as planned. If the model underperforms, the income levels and assets could be significantly reduced.
Purchase of an annuity contract through a qualified plan does not provide any additional tax-deferral benefits beyond those already provided through the plan. If you are purchasing an annuity contract through a plan, you should consider purchasing it for its death benefit, annuity options, and other non-tax-related benefits.
Jeff Blocker
Wealth2k, Inc Terms and Privacy Policy