National Financial Plan Competition Report…. or a fun time at the Speedway!

April 28, 2016 by · Comments Off on National Financial Plan Competition Report…. or a fun time at the Speedway!
Filed under: IARFC Posts 

By Susan Cappa, IARFC Public Relations

Last week I found myself at Charlotte Motor Speedway facilitating our National Financial Plan Competition.  First let me say that the support from Speedway personnel was PHE-NO-ME-NAL.  They were pros in handling any situation and I quickly warmed up to genuine North Carolina hospitality – y’all.


IARFC Chairman H. Stephen Bailey addresses the students and guests

Day 1
…consisted of CE presentations from Barry Dayley of Money Concepts – a Corporate Sponsor, IARFC President Pete D’Arruda, IARFC Vice Chairman and Event Emcee Nicholas Royer, and our Speedway host Stephanie Bailey.  These presentations were geared toward our young financial professionals who were just starting their careers. As one professor told me later – he could talk to his students all day long about concepts but hearing it from experienced RFCs on hand made a big impression.

After presentations, we filmed promotional videos with professors and “Coach Pete” in the lounge of the Speedway Club.  What was really impressive was just walking into the area with a ceiling to floor vista of the track – an awesome backdrop for lunch.  It made me envious of those who enjoy the spectacle of racing and filled grandstands on race day.  Not us however – all was quiet.


Winner’s Circle at Charlotte Motor Speedway

A bucket list item for racing fans would be our van tour  that navigated the multiple tracks contained within the compound.  We saw drag strips, dirt tracks, go carts courses and ultimately ended up on the main concourse banking around the turns with purses and cameras rolling about as our driver picked up speed.  Our group ended up in the winner’s circle for photo souvenirs of a fun day. Even if you weren’t a racing aficionado – you were impressed.

Day 2
…was a bit more subdued as the students prepared to be judged on their plan content and presentation.  Each team had 30 minutes, followed by critique from the judges.  More filming of interviews – from the students this time,  lunch and then back to our feature presentation – the topic being Ethics.  Who better to give that talk than the 2016 Dunton Award winner, the IARFC Treasurer Jon Rogers.

The results of this year’s competition:


L-R Anthony Pelaez, Cole Brownell, Molly Funk, Chairman Steve Bailey, Daniel Ingles, Grant Hulett

The Checkered Flag and First Place Winner: Molly Funk from Bryant University in Smithfield, RI – Mara Derderian Lecturer

Second Place: Daniel Ingles and Grant Hulett from Central Michigan University, Mount Pleasant, MI – Douglas Iles Professor

Third Place: Cole Brownell and Anthony Pelaez from California State University Northridge, Northridge, CA – Inga Chira Professor.

I had wished throughout the competition that the messages given during these two days were available to all those starting out in financial services.  With the added attraction of networking with some very interesting, successful and fun individuals, everyone went home enhanced in some way.  If you have never had the opportunity to see the IARFC in action – the National Financial Plan Competition is a must on your agenda.

Congrats to the winner and thanks to all the IARFC Corporate and Individual Sponsors for your support!


Chairman Reiterates Financial Association Change in Requirements

April 14, 2016 by · Comments Off on Chairman Reiterates Financial Association Change in Requirements
Filed under: IARFC Posts 

insuranceWe recently announced a change in the requirements to qualify for membership. Chairman H. Stephen Bailey reiterated that effective immediately, a Life Insurance license will satisfy the education component needed to complete the application.

The IARFC is made up of many types of financial professionals under one Association. It was set up as an umbrella organization that accepts all financial consultants who can meet the membership requirements.

I am confident that this inclusion will be viewed as a positive growth step for the Association. With this change, we find ourselves getting back to the roots of the organization which is a Financial Consultant who addresses the total needs of planning…..   Chairman, Steve Bailey


Life Insurance is a fundamental element of a financial plan and we need to be inclusive of people who specialize in this area.  It brings another avenue of financial service that is part of total planning…..Treasurer, Jon Rogers


For the public – knowing that their financial consultant is an RFC® assures them that their potential insurance advisor is vetted for a high standard of ethics. Many consumers do not start out with investments or complicated strategies when putting together their financial roadmap. Insurance is a fundamental of any financial plan.


For the insurance professional – being a Registered Financial Consultant emphasizes more of a total need for planning, not just selling a product or package. It elevates the motivation, education and dedication of these professionals to be part of a larger financial community.


Holding a designation granted by the IARFC – whether the RFC® or the MRFC when accredited, means continuing education and a commitment to excellence.

I am a big proponent of including the life insurance agents and requiring continuing education.  It helps our industry as a whole and the consumer is the ultimate winner…..President (Coach) Pete D’Arruda.


To become a member of the IARFC and qualify for the RFC® or MRFC designation, go to the IARFC website and review the qualifications. Application questions may be addressed to Amy Primeau, Membership Services –



Save $$$$. Take the MRFC Exam NOW!

April 7, 2016 by · Comments Off on Save $$$$. Take the MRFC Exam NOW!
Filed under: IARFC Posts 
Time is money. Gears of success

Time is money. Gears of success

Have you signed up to take the MRFC Exam yet?   The exam fee has been discounted from $300 to $125 during this initial test taking period.


Exam Design

The MRFC Exam is proctored and has to be taken on a computer in a designated testing center. You will be permitted to take scratch paper, a pencil, and a financial calculator with you (please refer to the Candidate Information Handbook for specific models); as long as the memory has been cleared.

The MRFC Exam consists of 125 multiple choice questions. Of the 125; only 100 will be scored. If you have taken any industry exams you know this is a standard practice, there are always some questions which are not scored. Of course you will not know which are scored. You will be given three hours to complete the exam. The passing score is 75.

We all know that some exams in our industry have been designed for failure. We have tried our best to make sure the MRFC Exam is not one of them. Not everyone is going to pass, but you shouldn’t leave the exam feeling as though you were tricked.


Exam Content

Now that you have an idea of what the exam looks like, it’s time to review the actual content on the exam and how to study for it. Understandably, the top questions the IARFC team has been asked since announcing the availability of the MRFC Exam relate to studying for the exam. Very few people want to take an exam without some preparation. While we do not currently have a formal review course for the MRFC Exam, we have provided you with a couple of key items to help you study.

The first key to exam preparation is the “Blueprint Exam Content”, located on the MRFC website, under the “Get Started” tab. The Blueprint Exam Content shows the 13 main content areas the exam will cover. These areas are: 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.

Next to each content area is the percentage of the exam dedicated to this area. For example, Practice Management is 2% of the exam. Under each content area are subtopics, giving you an even better idea of what types of questions are going to be asked for each category.  I encourage you to review the Blueprint Exam Content, and maybe highlight the areas you feel you need to review. At that point, it becomes a matter of personal comfort. Maybe you really aren’t familiar with the Practice Management topic, but you decide you do not want to worry about studying for it because it is only 2% of the exam.  You may still want to review the material. Everyone has a different plan of attack when it comes to taking an exam, and only you know what works best for you.

The second key to preparing for the Exam is the list of Reference Materials. This is also provided on the MRFC website, in the same area as the Blueprint Exam Content. The list of reference materials is not comprehensive, but it does include many resources that were used to create questions for the exam. We feel the reference list provides a good basis for review. You are of course welcome to use any additional study material that you have.


Start the process!

Send in your MRFC Application today and help us take the Association to the next level.

Visit and GET STARTED!


So Why Have Another Designation?

April 4, 2016 by · Comments Off on So Why Have Another Designation?
Filed under: IARFC Posts 

The public, on some level, realizes that designations add credibility to your qualifications and thus… your service.  They may not know what each designation means, but they do understand you have made an effort. You have worked harder.

So how many designations do you need?  When is enough, enough?  Some consultants believe if having one is good – having multiple is better.  What do you think?

IARFC Vice Chairman – Nicholas Royer – discusses about obtaining another designation!

Take the MRFC Exam TODAY!
Special savings$$$$ if you sign up during our initial exam taking period