3 minute read
US Membership Services
Vicki Caplinger, Membership Services Team Member provides support and assistance to members and prospects of the IARFC. She manages all billing and receiving of renewals and applications, and performs many tasks such as shipping and handling store orders, mailing marketing material, and performing CE audits. As coordinator for the National Financial Plan Competition she enjoys seeing the next generation of financial consultants network with the experienced Association members.
It’s August and that means that the IARFC National Financial Plan Competition is set for Educators to start enrolling their student teams soon. It is always a big accomplishment when the case narrative is finished and ready to deliver. Although one might think this a pretty easy composition to write, it’s really scripting a well developed story with people and numbers that are relatable. You have to have the right amount of family dynamics, their “fake” problems, their “made up” financial goals, and then write it in such a way that is challenging to the students but not overly intimidating. The numbers need to be realistic, yet leave room for interpretation by the “student” financial consultant. After all the logistics to the plan are worked out, the plan is tested with benchmark results for comparison to student’s entries, prettied up for distribution, and sent out to students. Thanks to Roey Diefendorf Jr., RFC® and Rick Stanzione, RFC® coming up with the fictional family this year. It is always interesting to see the plans we get back from the competitors in comparison.
I think the Competition this year, will return to its live format. Covid, as with all live events has kept us from bringing in the students and having them present in person to the judges. This brings great networking opportunities and a chance for teams to interact with the judges. I am crossing my fingers and hoping we will be back to “Competition Normal” in 2022. My advice to educators is to get your students on board as quickly as possible so they can begin their planning strategy.
Good news comes from the 2021 Competition. We were alerted that Kristen Reves who won the competition in April has now been recruited by one of our member consulting firms and has accepted employment in the Charlotte, NC area. This competition brought consultant recruiter and newly graduated financial professional together providing the opportunity of experience in a real life scenario. Congrats to them both for utilizing the Competition as a vehicle for advancement.
All for now... Send in your registrations as soon as possible!
Continued from Robert Laraia, RFC®, Membership Focus
Register: Why did you decide to sponsor the IARFC National Financial Plan Competition?
Laraia: Basically, I think it is awesome. I am all about taking people and engaging them at a young age – having them understand and embrace this occupation. I was lucky enough to meet someone who said...hey, I will hire you, but you want to start studying for your exams while you’re in college. Currently, you’ve got universities and colleges basically creating degrees – that means these graduates are going to hit the ground running if they decided to go into this industry. The incorporation of a Financial Plan Competition is a super cool concept. It has allowed me a way of giving back to my industry. I just find the quality of the submitted plans really high – better than I expected.
The students’ plan presentations were super challenging. Although it is not the same as in front of clients and having a more personal sit down, but if the world stays the way it is now, these students will be ahead of curve in servicing their clients utilizing virtual software and forming virtual relationships. We love doing the competition. I understand it is good to learn to present virtually, but I anticipate a time when I can see the students present in person.
Member Benefit
Financial Planning Software Corporate Sponsor National Financial Plan Competition
MoneyGuide, singularly focused on financial planning, believes that everyone needs and deserves a quality financial plan.
MoneyGuide makes robust financial planning fast and easy. MoneyGude identifies gaps, empowering clients to stress test their plans.
It helps address key concerns including running out of money, healthcare costs, investment losses, asset allocation and Social Security.
For more information, contact Scott Bayer (800) 743-6938 x 3100
