The IARFC is set to hold the Semi-Finals of the National Financial Plan Competition on Thursday March 12, the day before its annual Board Meeting. The Directors will be on hand to judge teams from Bryant University, Shepherd University, Virginia Commonwealth, Western Carolina and Winthrop University as they present their financial plans via gotomeeting – ultimately selecting three to move to the Finals in Charlotte, NC.
This year’s Semi Finalist team members are:
- David Ferraro and Staci Rezendes from Bryant University, Smithfield, RI – Faculty Advisor Mara L. Derderian, RFC®
- Nicholas Zacchilli from Bryant University, Smithfield, RI – Faculty Advisor Mara L. Derderian, RFC®
- Connor Howard from Shepherd University, Shepherdstown, WV – Faculty Advisor Dr. Nicholas A. Pologeorgis RFC®
- Erik Ott and Zachery Perkins from Virginia Commonwealth University, Richmond, VA – Faculty Advisor John P. McFarland
- Richard Sigmon and Megan Cherry from Western Carolina University, Cullowhee, NC – Faculty Advisor Dr. Grace C. Allen
- Kristin Cranford and Victoria Davis from Winthrop University, Rock Hill, SC – Faculty Advisor, Dr. Philip Gibson
Following the selection of three finalists, the teams will head toward Charlotte, NC on April 29th and 30th for a live presentation of their Plan in front of an audience of financial services professionals at the Charlotte Motor Speedway Club. Finalists will also have the opportunity to attend the IARFC Business Owner Consulting Workshop, a tour of the Speedway and a dinner banquet hosted at this premier regional venue.
Want to be a judge for the Finals? Make your reservation and join us April 28 & 29!
Les Anderson, longtime IARFC member, was recently awarded the prestigious Loren Dunton Memorial Award at the Cetera Advisors Connect Conference in Denver, CO. On hand to present the award was IARFC Chairman and CEO Ed Morrow.
This award is given to a person who has made a substantial contribution to the financial services profession and/or the financial interest of the public – thus carrying on Dunton’s mission and vision. Loren Dunton was able to use his experiences to frankly explain what all financial advisors now recognize – that the ethical sales of financial products and the delivery of competent advice is a noble calling.
Anderson with over 30 years of experience in sales marketing, sales management and training in the financial services industry is a former Board Director and President of the IARFC. He has been instrumental in the corporate sponsorship program for the IARFC National Financial Plan Competition.
Included in the celebration of Les’s achievements were Cetera Advisors‘ CEO Brett Harrison and President Erinn Ford and over 400 of his professional peers. “The Loren Dunton Memorial Award was given to Les Anderson in honor of his commitment to the National Financial Plan Competition,” relates Harrison. “I am proud to be associated with Les and commend him on his accomplishments.”
Congratulations to Les Anderson – the 2014 Loren Dunton Memorial Award Winner!!!!!
By Susan Cappa
We are excited about the addition of Richard Weylman to the CE@SEA Continuing Education Session during the upcoming Cruise to the British Isles in August. From his current best selling book The Power of Why, Richard will explore the topic “Breaking Out in a Crowded and Competitive Marketplace.”
His groundbreaking message keys off of a fundamental change of 21st century business – the shift in power from advisor and firm to the client and prospect. Throughout his presentation, Richard demonstrates how explaining who you are, what you do, or even how you do it is not the answer to the prospect’s WHY. Most importantly, he will provide attendees with a clear path to break out and establish marketplace distinction for themselves and their practice.
Richard’s background is interesting. Orphaned at the age of 6, he spent his childhood living in 19 different foster homes and attending 11 different schools – which he regards as great training “no problem in meeting and connecting with new people”. His formative years are a testament to utilizing adverse life experiences as stepping stones to professional and personal success.
GREAT CRUISE ITINERARY…. GREAT CONFERENCE….
There is still time to sign up for the British Isles Cruise and CE@SEA Cruise Conference and hear Richard Weylman with an entire roster of professional speakers. For more cruise details, contact Starr Morrow, Cruise Director 423.741.8224. Immediate Bookings can be directed toward Leonard Passmore, Travel Agent 423.676.2069. Visit the IARFC website for up-to-date postings on cruise pricing and presenters.
Complete Roster of CE@SEA Conference Speakers
Report by Nominating Committee Liaison, Susan Cappa
Recently the IARFC recruited candidates for 3 open positions on their Board of Directors. The election process permitted any member of the Association to volunteer or a member could nominate another member for service. This year we had an unprecedented number of very high caliber candidates for the 3 positions.
Each candidate went through a vetting process and all qualified for nomination based on their qualifications, continuing education and continuous good service to their clients. The current Board of Directors then voted from the slate of candidates. The results:
- Jon Rogers of Rogers Financial Group LLC, Greenville, SC (reelected)
- Isabel Cooper of Edelman Financial Services, Ashburn, VA (reelected)
- Mayo Woodward, Ameriprise Financial Services, Inc, Birmingham, AL
As the newest member of the Board, Mayo Woodward stated: “I am thrilled to be part of such a great organization where the focus is on ethics and treating clients with the utmost respect. Being on the Board gives me the chance to continue to drive the mission of the IARFC and share it with others.”
The newly elected directors will be attending the Annual Board Meeting and taking part in the Semi-Finals judging of the National Financial Plan Competition at corporate headquarters in Middletown, OH next March. The next year will be an extremely important time for the IARFC as it goes through a complex and lengthy process of third party scrutiny. The Board will be instrumental in fulfilling this goal of accreditation.
From the Accreditation Team
The MRFC Certification Board is now in place and ready to start working on accreditation. This governing body – independent of the IARFC Board of Directors is a required component by the NCCA. It is their responsibility to oversee and maintain the accreditation from development to NCCA submission to post acceptance. It was made very clear that they are in charge.
Your newly elected board members are: Nicolas Pologeorgis, Louise Fallica, Edward Skelly, Burton Stewart and Julie Friend. On October 30th, the Board had their first meeting with the IARFC accreditation team via GoToMeeting.
The initial meeting was a basic housekeeping agenda – with details of communication protocols, terms of office and a general awareness of where the IARFC is in the accreditation process. Dr. Nicolas Pologeorgis was elected Chairman of the Board. The accreditation timeline was reviewed as to where we are with the exam process and what we need to do to meet the goals.
Board members are meeting the first Tuesday of every month and plan to have an in-person meeting once a year. They will be updating the members as they go along with this process. Any questions can be address to Amy Primeau – email@example.com – who is the MRFC Board Liaison.
If you have read the Register in the past year or two, you know that the IARFC has been proceeding down the Path to Accreditation. You’ve heard about the behind the scenes work the IARFC is doing in order to reach the goal.
The question we keep hearing from members is “WHY?” Why is the IARFC seeking accreditation. Why now, when the IARFC is in its 30th year, after having weathered the storm for so long.
These are questions that Amy Primeau, Domestic Membership for IARFC posed in her article in the September/October Register.
To understand why the IARFC is taking on such an ambitious project, read the entire article so you know the importance of this endeavor and how the IARFC is meeting the challenges of moving the Association forward.
This Fall brings a new issue of the Journal of Personal Finance. It is the first Journal produced by our new co-editors Wade D. Pfau, Ph.D., CFA, RFC® and Joseph A. Tomlinson, FSA, CFP™, RFC®.
This Volume 13 Issue 2 covers a variety of financial planning topics ranging from traditional survey research studies to articles in new groundbreaking areas such a optimization techniques for financial planning and neuroscience applications.
According to Dr. Pfau, “The lead article by Gordon Irlam on connecting retirement asset allocation to age and funded status has already drawn the interest from one Nobel laureate interested in retirement income, and it is just one of the many articles that could positively impact our profession”
You will find the abstracts of all the articles on the Journal website.
IARFC members will be sent an electronic copy of the Journal as part of their member benefits. Hard copies are available to members and non-members through the IARFC store.
Update September 2014…
Our first invites went out for the 2015 IARFC National Plan Competition. This time we are holding the finals in the Motor Speedway City of Charlotte, NC.
We are happy to report that 112 students from 11 different Universities have responded so far and we still have six weeks of registration to go. Great news in that the majority of the Universities interested are new. All in all it is a good showing for the first call for participants.
And sponsorship is doing well amongst the membership. If you wish to become a sponsor, please go to our website and sign on. This is a great way to give back to the industry – help those who are pursing a career in financial services.
Closing date for registration is October 31st.
Participating schools to date:
Exerts from Michelle Blair, RFC “Pearl’s” article in the September Register.
If we thought that technology was changing quickly 30 years ago, watch out for the future! Before, we would measure major change cycles in years, but today there is something new and exciting on a daily basis. For instance:
- Everyone maintains their “life” on a phone or tablet these days
- We use Skype on a daily basis
- An Outlook calendar sees “where” everyone is
- CRM maintains our database
- Financial plans are entered into software
- Branding yourself on social media is the way to go.
NEVER let the personal touch go by the wayside. People still relate to a human voice and appreciate an old fashioned phone call instead of a text or email. It’s all a case of balance!
For the entire article – check the “Pearls” article How Has Technology Affected Daily Operations in Your Business in the Last 30 Years? of the September edition of the Register.
Recently a group of subject matter experts (SMEs) convened in Middletown, OH to write the items (questions) for the exam component of the MRFC Proposed Designation.
The subject matter was determined through a survey that many of our members responded to earlier in the year. The results of this in-depth questionnaire determined a percentage blueprint of subject matter domains and their weight of exam questions. The final tally ended with 13 topics: Client Engagement Process, Retirement Planning, Insurance Planning, Education Planning, Estate Planning, Professional Conduct, Plan Development, Data Gathering, Ongoing Monitoring, Tax Planning, Investment Planning, Regulations and Compliance, and Practice Management.
The SMEs are targeting a bank of 300 items from which a test of 150 items (3 hours in length) will be compiled. By passing the exam and meeting the rest of the MRFC criteria, the consumer can be assured that their Financial Advisor has met a professional standard certified by a National Accreditation Body.
Once this exam item writing task has been completed, we will be sending out information on how you can take the exam.
Stay tuned for more news on this exciting process for the IARFC!