Who needs a financial advisor?In a society that grows more complex every day, consumers are presented with the constant pressures of family, career, and community responsibilities and personal enrichment. The financial marketplace is ever-changing with new laws New Laws: see Las Casas, Bartolomé de. , regulations, economic events, market changes, product offerings and conflicting media messages. Making the right financial moves at the right time is critical to achieving security and accomplishing personal objectives. A personal advisor guides the financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against process: goal identification, data organization, analysis, problem identification, recommendations, and most important--plan implementation and results monitoring. Your advisor will help you save, spend, invest, insure and plan wisely for the future. A Registered Financial Consultant has met the qualifications required to serve the public effectively, and moreover, is committed to essential professional continuing education continuing education: see adult education. continuing education or adult education Any form of learning provided for adults. In the U.S. the University of Wisconsin was the first academic institution to offer such programs (1904). . You can't delegate your job, career, civic or family responsibilities--but you can obtain qualified, professional financial advice and service. What is the RFC (Request For Comments) A document that describes the specifications for a recommended technology. Although the word "request" is in the title, if the specification is ratified, it becomes a standards document. Designation? The Registered Financial Consultant (RFC) is a professional designation awarded by the International Association of Registered Financial Consultants to those financial advisors who can meet the high standards of education, experience and integrity that are required of all its members. 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 distinquishing the qualified and dedicated financial advisor. RFC Examination Process The comprehensive RFC examination covers a wide range of subject matter; Priciples of Personal Finance, Debt and Cash Flow Management, Employee and Government Benefits, Annuities, Securities, Investments and Asset Allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. , Life, Health and Casualty Insurance, Education and Special Needs Funding, Estate Planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the , Survivor Income Needs Analysis, and Retirement Income. RFC continuing education requirements: Each year the RFC must complete a minimum of 40 units (hours) of professional continuing education. This includes college courses, educational symposiums, credentialing courses, distance learning programs and practitioner conferences. Many RFCs are instructors at colleges and conferences. The IARFC IARFC International Association of Registered Financial Consultants removes the designation from anyon who fails to maintain proficiency through substantial continuing education, or who betrays the public trust by failing to live up to its Code of Ethics Code of Ethics can refer to:
This article was provided by the International Association of Registered Financial Consultants. |
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