MRFC Updates

Do you have a problem setting up an annual review with your clients? Then it is because they see you as just another salesperson after their money. That is because you have not taken the time to build a trust relationship with them.

Is a big reason why you do not have a trust relationship with your clients...is that they never hear from you? If you want to start to build a good trust relationship, then you should be sending people your monthly newsletter. It will make it much easier for you to set up an annual review with your clients. Sending people a newsletter will also make it easier for you to set a sales appointment with your friends, family, neighbors, and referrals!

Your newsletter should be yours. Not some company newsletter. And not just about investing.

You will also want to set up a system to ask for and receive referrals from everyone you know.

Note: If you have been a Financial Consultant for 5 or more years, then you should be getting all of new clients from referrals!

Is your excuse for not conducting annual reviews with your clients...that you do not have the time? Then you need to make the time. It is much easier and much more profitable to sell more to your existing clients, than it is to find new people to sell to!

Jeremy B. Nason, RFC® is the cofounder of the Insurance Pro Shop™ – The first affordable, full-service Insurance Marketing and Sales Resource Center for today’s Financial Pro, and Found Money Management™, a life insurance sales training system dedicated to helping Middle-Income Families to ‘Live Debt Free and Truly Wealthy!’

Jeremy B. Nason, RFC®

Contact: (877) 297-4608 jeremy@insuranceproshop.com www.insuranceproshop.com

MRFC® 2021 Update

New Cut Score Accepted by MRFC Board

One of the most significant changes goes into effect October 1. After the most recent Standards Setting Meeting and through the analysis of the MRFC Psychometrician, the cut score for the passing rate has changed from 67% to 70%. This reflects the numbers given by the MRFCs who took part in the ratings. New exams will be issued and the changes reflected in all MRFC policies, procedures, and marketing.

Recertification Proposal Due 2022

With a deadline of August 2022, the MRFC program has to go through another application process for the credential. This will involve working on the application basically the same as if it were a new request. This project will be an ongoing project for upcoming months.

Marketing Program Enhanced

The MRFC Board has given a contract to an outside source to handle the MRFC marketing specificaly in the area of Social Media.

According to MRFC Staff Liaison, Charlotte Isbell... “We simply need the help in getting the MRFC information out there to prospects. Our manpower is such that the addition of outside services effectively lessons the load on the Certification Staff and provides more visibility to the credential. I look forward to working with these contractors and their creativity.”

MRFC Exam Item Writers Needed

The MRFC Certification Program is working to increase the question bank for the MRFC Exam. The program has to maintain a quality, relative band of questions on an ongoing basis.

Requirements: • Preferably MRFC credential holder • Not current MRFC Board member • Completion of virtual item writing training • May not provide service to IARFC prospects or members as an educator of, trainer of, or writer of material in relation to MRFC exam • Not part of the IARFC Education Committee

Responsibilities: • Create new questions for item bank based on MRFC Blueprint Exam Content • Meet item writing deadlines • Provide current CV or Bio • Adhere to security guidelines in regard to MRFC exam content

Time Commitment: • Initially — GoToMeeting training for item writing/reviewing, 1 hour (mandatory)

It’s a great position to add to a CV or Bio a content writer for an NCCA nationally accredited credential!

Contact Charlotte Isbell charlotte@iarfc.org to volunteer

Charlotte Isbell, IARFC COO coordinates the team and runs the internal operations of the Association. She also works on the accounting, assisting the Ethics Committee, and is the Staff Liaison for the MRFC Certification Program. Charlotte enjoys talking with members and prospects about products and services available through the IARFC and has many years of experience and knowledge to share.

Expanding on the leadership changes discussed by Steve Bailey, I want to further define the changes happening at the Home Office.

Our internal operations are to the point that we are looking for additional staff. Currently I am interviewing for a position in membership services to offload the responsibilities for Vicki and Judi who are needing additional assistance. With the implementation of the Managing Regional Director and Region Directors, we want to have a trained staff person ready in the next few months.

Enhancements to policies and procedures are ongoing with some affecting the By-Laws. These updated By-Laws are available to all members on the IARFC website. Changes include:

• Addition of an Internal Regulatory Officer (IRO) to the Board of Trustees with their qualifications and duties.

• Definition of Board of Trustee compensation in percentages.

• Duties and qualification for the CEO.

These adjustments signify an Association in change and gives us the structure from which to govern the IARFC. The By-Laws are on my desk and are constantly referred to during policy discussions. Regariding our Team at the Home Office, I can’t say enough about having a cohesive group that works together. Our office is small in numbers but mighty in execution. In an environment where multitasking is the norm, everyone flows from task to task, constantly prioritizing.

Keeping all the pieces together is the main part of my job. Establishing deadlines and reminding other members of priorities while maintaining communication with our CEO keeps me extremely busy. Weekly Team Meetings track our progress and identifies problem issues, even though at times we would rather be doing other projects.

For the future, I see a lot of work in coordinating the roles of MRD and RDs. It will be challenging to set up the systems that incorporate these new positions. Transitioning from in house prospecting to outside prospecting is a progressive change and while it brings on more logistics to solve, it is a welcome growth opportunity.

As always, I am vigilant in protecting the seperation between Association, Chapters, and Certification Programs. This has needed more attention in the past year as we continue to expand the roles and define duties integral to all parties.

It’s a never-ending, situation-evolving job which keeps my work life interesting.

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