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Note: Program Incentives Reset Annually Member Award for
Presented annually in appreciation to top IARFC members who have brought the most newly qualified professional consultants that join the ranks of the Association.
Use the form below to send in your referrals and receive cash!
Let your peers benefit from the Association and network with like-minded financial consultants across the globe.
You just might be the Award Winner for 2025!
Fill out the form below & return to:
Attn: Membership Services P.O. Box 506
Middletown, OH 45042
Email: info@iarfc.org
Fax: (513) 345-9479
Phone: (800) 532-9060
Chair, Barry L. Dayley, MRFC®
Vice Chair, Michael Jay Markey Jr., MRFC® Treasurer, TBD
Secretary, Nathan Boyle, MRFC® Director of Ethics, Gary Padussis, RFC® Trustee, Kai Yuan Tu, RFC® Trustee, Dr. Reuben Chen, RFC® CEO, Leonard Simpson, RFC® COO, Charlotte Isbell
MRFC CERTIFICATION BOARD
Chair, Mary Anne Redmond, MRFC®
Vice Chair, Alan Kifer, MRFC® Treasurer, Melvin Mills Jr., MRFC® Secretary, TBD Director, Sean Clark, MRFC® Director, Larry Roby, MRFC® Director, Daniel Courson, MRFC® Public Member, Kat Moore Certification Administrator, Rachel Gibbs
IARFC HEADQUARTERS TEAM
Chief Operating Officer, Charlotte Isbell
Editorial Coordinator/Public Relations, Susan M. Cappa
Director of Membership Services, Vicki Caplinger
Membership Services, Judi Nelson Information Technology, Randy Kriner
WEBSITES
United States — www.iarfc.org China — www.iarfc.cn
Hong Kong — www.iarfc-hk.org Indonesia — www.iarfcindonesia.com Philippines — www.iarfc.org/about/philippines Taiwan — www.iarfc.org.tw Vietnam — www.iarfc.com.vn
Greater China Development (China, Hong Kong, Macau, & Taiwan)
Chair, Liang, Tien Lung, RFC® Vice Chair, Liang, Han-Ying, RFC® CEO, Lin, Chien-Hung, RFC®
Hong Kong and Macau
Honorary Chair, Samuel W. K. Yung, RFC® Chair, Teresa So, RFC® Executive Director, Allan Wan, RFC®
Indonesia
President, Aidil Akbar Madjid, RFC®
Executive VP, Bareyn Mochaddin, RFC® Vice President, M. Kharisma, RFC® Treasurer, Mada Aryanugraha, RFC® Director, Arya Haris, RFC®
Philippines
President, Grace De Vera Escobar,, RFC® Executive VP., Ryan Daez, RFC® Vice President, Treasurer, Ismael Melendres Jr., RFC® Secretary, Atty. Nicasio C. Cabaneiro, RFC® Director, TBD Director, TBD
Taiwan
Chair, Liang Tien Lung, RFC®
United States
President, Bradley K. Maples Sr., MRFC® Executive VP., Lisa Ford, MRFC® Vice President, Lemuel W. Kornegay III, RFC® Treasurer, Paul Wharf, RFC® Secretary, Gregory Kurinec, RFC® Director, Mike Zaino, RFC® Director, Jeffrey Bettermann, RFC®
Vietnam
President, Dr. Frankie Lo C.F., RFC® Executive Vice President, Kenny Lam C.H., RFC® Vice President, Prof. Jeslie Chui T.K., RFC® Treasurer, Ramen Chim P.H., RFC® Secretary, Tracey Nguyen B.T. Director, Ben So S.H., RFC®
www.iarfc.org/publications/register P.O. Box 506
Middletown, OH 45042-0506 (800) 532-9060
Editorial Coordinator
Susan M. Cappa editor@iarfc.org
Editorial Advisory Committee
Michelle Blair, RFC® Alan Kifer, MRFC®
The Register is published by the International Association of Registered Financial Consultants® 2025 and circulated around the world.
It includes articles and advice on technical subjects, economic events, regulatory actions, and practice management.
The facts and opinions in the IARFC’s Register articles represent the author’s views and are not endorsed by the publisher.
The IARFC makes no claim as to accuracy and does not guarantee or endorse any product or service that may be advertised or featured.
The IARFC makes no claim to the current status of any designation or credential that is issued in the titles of contributors listed in the Register other than those issued by the IARFC® (RFA®, RFC®, MRFC®, MRFS).
Articles, comments, and letters are welcome via email to:
Susan M. Cappa, editor@iarfc.org
The average reader has more than four years of experience in financial services and possesses at least one professional designation/ credential. Articles benefit the reader by providing specific planning techniques, practice management suggestions, or educational content about financial services which might include advisory professional responsibilities, industry news, insurance, investment, software, or compliance. For the entire Register General Article and Editorial Policy, visit www.iarfc.org/register.
Susan M. Cappa, Editor
As the editor of The Register , I’m always eager to hear what our members have to say. Getting published isn’t just a professional milestone — it’s a way to increase your visibility with clients, peers, your community, and even your friends and family.
Your practical experience is unique. When shared, it could be exactly what someone else needs to overcome a challenge in their practice. Some of you may already have an article in your files ready to go. Others may find inspiration in current events and can apply real-world solutions to common issues faced by financial professionals.
If you’re considering writing, the best place to start is with our editorial theme for the issue. Does it speak to your area of expertise? Can you relate to any of the scenarios we suggest? Once the idea is in place, the writing often flows more easily than you might think.
And let’s be honest — these days, there are plenty of tools available to help polish your work. I use them myself. The goal is clarity and professionalism, and if a tool helps you get there, use it!
We welcome articles ranging from 1,000 to 1,500 words. Just include a short bio, and your insight will be featured in print and electronically delivered to our wide readership - even internationally! It also makes for a strong, credible marketing piece for your practice.
So how about giving it a try? Contact me — let’s talk about your ideas. I’d love to help you get published.
susan@iarfc.org (513) 424-1589
Imagine software so advanced, it can quickly and easily show the impact of different financial planning decisions on a client’s plan. Income InSight provides the structure for a systematic, scalable financial planning process and a comprehensive alternative to other programs where you piece together a plan.
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Member Link: https://covisum.com/iarfc/ Phone: (877) 844-7213 email: sales@covisum.com
Barry L. Dayley, MRFC®, CFP®
One of the eight guiding principles of the IARFC is Love. We state it as; “Love is a matter of the heart. Our work matters and we are committed to serve our members and the public with a brand of love we call a Committed Benevolent Interest (CBI) in everyone. We are truly concerned about the outcomes for others and ourselves.”
What does all this mean? Having a "committed benevolent interest" in someone means genuinely caring about their well-being and being dedicated to supporting them in a positive, selfless way. It involves consistently acting with kindness, empathy, and a desire to help them thrive, without expecting anything in return. This type of interest is rooted in goodwill and a sincere commitment to their happiness, growth, and success. It’s about being there for them, offering encouragement, and prioritizing their best interests while respecting their autonomy.
Here are ten ways you can actively demonstrate CBI to others:
1. Listen Actively
• Give them your full attention when they speak.
• Show empathy by acknowledging their feelings and validating their experiences.
• Avoid interrupting or offering solutions unless they ask for advice.
2. Be Consistently Supportive
• Celebrate their successes, no matter how small.
• Offer encouragement when they’re facing challenges.
• Be there for them during tough times, even if it’s just to provide a listening ear.
3. Respect Their Autonomy
• Support their decisions, even if they differ from what you’d choose.
• Avoid being controlling or imposing your own agenda on them.
• Trust them to make choices that are best for their life.
4. Offer Help Without Expecting Anything in Return
• Volunteer to assist with tasks or challenges they’re facing.
• Be proactive in noticing when they might need help, but always ask before stepping in.
5. Show Genuine Interest in Their Life
• Ask thoughtful questions about their goals, dreams, and challenges.
• Remember details about what they’ve shared and follow up later.
• Be curious about their passions and what makes them happy.
6. Be Patient and Understanding
• Give them space when they need it, without taking it personally.
• Be forgiving of mistakes and offer grace when they’re struggling.
• Show compassion, even when they’re not at their best.
7. Encourage Their Growth
• Motivate them to pursue their goals and dreams.
• Offer constructive feedback when appropriate, but always with kindness.
• Celebrate their progress and remind them of their potential.
8. Be Reliable and Trustworthy
• Keep your promises and commitments to them.
• Be someone they can count on, whether it’s for advice, support, or just a shoulder to lean on.
• Maintain confidentiality and respect their trust.
9. Practice Small Acts of Kindness
• Send a thoughtful message or gift to brighten their day.
• Do something unexpected, like cooking them a meal or running an errand for them.
• Show appreciation for their presence in your life.
10. Prioritize Their Well-Being
• Encourage healthy habits, like rest, self-care, and balance.
• Be mindful of their emotional and physical needs.
• Advocate for them when they can’t advocate for themselves.
Ultimately, showing a committed benevolent interest is about being present, selfless, and genuinely invested in their happiness and growth. It’s not about grand gestures. Let’s take this to heart and together we can make a difference.
Contact: (307) 201-8524 chair@iarfc.org
Leonard Simpson, RFC® IARFC CEO
As part of my ongoing commitment to my 2025 goals, I’ve taken on the exciting responsibility of leading one of the Chair’s priority Committees: Growth, Innovation, and Sustainability.
This Growth Committee leadership role means working closely with a group of passionate and talented individuals to identify ways to make the Association more relevant and impactful—ultimately driving membership growth.
After numerous brainstorming sessions, our Committee has generated a robust (and admittedly daunting) list of initiatives to pursue throughout the remainder of the year.
Below are several key initiatives identified as strong Growth opportunities:
• Effectively communicating our value proposition to prospective members.
• Pursuing partnerships with other organizations to expand our reach.
• Creating student chapters at universities to engage the next generation.
• Adding international chapters to further expand our global presence.
• Emphasizing the importance of Ethics within the IARFC community.
Here is our progress on some of these goals:
We are actively pursuing the ambitious vision of 35 international Chapters by 2035. This involves complex communications and agreements with international entities, requiring us to navigate cultural nuances, economic conditions, and time zones.
These efforts are well underway, and announcements of new international partnerships will be shared in future issues of the Register. Each new country that joins the IARFC brings with it a rich cultural exchange, further enhancing the diversity and depth of our global network.
Another key area of focus is engaging the next generation of financial professionals by creating student chapters at universities.
To move this forward, the Growth Committee proposed, and the Board of Trustees approved, important amendments to the Association’s ByLaws, including:
• Establishing a Student Membership Level
“Any student who is either enrolled in a financial services or insurance course at their undergraduate level institution; or, in a vetted financial services or insurance curriculum [be it undergraduate or graduate level. (i.e. RFS)”
• Adding to the Chapter Structure a specific committee called the Student Advisory Board. This Board will be comprised of the Chapter Board Vice President and 2 or more college or university professors. Their duties are to ensure the Chapter’s student community continued support of students and honorary members through (1) ongoing open dialogue, (2) growth and development and (3) ongoing contributions.
With these foundational updates now in place, the next step for the Growth Committee is to develop and implement a practical, actionable plan to launch and support student chapters across our network.
If you have any connections with university professors in financial services curriculum and would like to help start a student group, please let us know.
I will keep membership updated as we move forward serving the next generation of financial professionals.
Leonard Simpson, RFC®
Kai Yuan Tu, RFC®
Paul Wharf, RFC®
Mike Zaino, RFC®
Alan Kifer, MRFC®
Our growth committee is not limited to the above individuals. Anyone wishing to bring ideas to the table on how to be more relevant to members and prospects is welcome. Contact me at ceo@iarfc.org.
William Gabriel Adcock, RFC®, TN
Alex Altidor, RFC®, IL
Leonard S. Bakker, RFC®, CA
Evan Boles, RFA®, KY
Paul S. Bosnyak, RFC®, CT
Sisi Chakrabarti, RFC®, CN
Sachin J. Chheda, RFA®, FL
Eric John DiLeo, RFC®, CA
John Ford, RFC®, SC
Alexander Douglas Gallina, RFC®, OH
Jason S. Grosse, RFC®, MO
Steve J. Hermanne, RFC®, CA
James Douglas Hoagland, RFA®, FL
John Kozak, RFC®, OH
Travis John Kroeger, RFC®, OR Ryan Kroner, RFC®, CA
Ean Matthew Livingood, RFA®, PA
Corrine A. Lowitz, RFC®, SC
Clients
Introduce
and simplicity they want NOW:
Matthew David Madison, RFC®, TX
Christopher Clay McAnany, RFC®, FL
Damien A. Mustico, Association, NY
Jeff Olsen, RFC®, UT
Josh Ord, RFA®, SC
Megan Brittany Peterson, RFC®, GA
Trent Rogy, RFC®, FL
Chad Anthony Safier, RFC®, FL
Tony Sandifer, RFC®, MO
Andrew John Scott, RFA®, WI
James Michael Sego, RFC®, TN
Jacob Andrew Stinson, RFC®, FL
Craig Alan Sutherland, RFC®, OH
Kevin Thomas, RFC®, TX
Jay A. Thurlow, RFC®, GA
Beverly Thurlow, RFC®, GA
Julie Ann Worley, RFC®, SC International
China – 109
Hong Kong – 17
Taiwan- 105
Indonesia – 17
Vietnam - 14
Philippines - 17
William “Bill” Brown RFC®, OR Douglas W. McCall, RFC®, FL
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Columbus Life and its parent, Western & Southern Financial Group, are members of one of the world’s strongest mutual insurance holding companies. Columbus Life is Real Life: For Rapid-Issue IUL and Much More Ready to learn more? Let’s
LIVE Summit Schedule: 10 Sessions Over 2 Days
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“The countdown is on for Virtual Practice Building Summit #3. Our lineup of presenters is nothing short of stellar! Many kind regards to David, Jeremy, Cheryl, and our incredible IARFC Team for putting together another impactful two days of practical knowledge — the kind of value the IARFC is known for delivering.” Leonard Simpson, RFC ® - IARFC CEO
Ethics Question
I have a client that financial plan will not meet their expectations in retirement. It is not due to their earnings income, which is very good. It is their spending habits. They spend so much more than they really need to on dinners, vacations, cars, clothes, etc. I told them they need to reduce their spending and save more. At a recent meeting, I explained to them that to meet their retirement goals, they would need to save about $58,000.00 per year until they retire in about 18 years. They refuse to do this and told me to take more risk with their portfolio to achieve their goals. I am concerned that the returns I provide them will not be sufficient for them to achieve their financial goals and that I may receive a complaint from them in the future.
What should I do?
Answer
The profession of being a financial consultant is exciting yet demanding, and at times requires us to provide clients with our knowledge and advice in planning for retirement. A financial plan is the industry standard consultants use for clients to achieve these goals. The main objective of the plan is to manage and optimize finances, risk management, budgeting, liabilities, and saving for retirement.
Our job is to provide customized, accurate and realistic results on the information provided by the client. The plan may create a negative result due to the client’s current financial situation, and goals for retirement.
In this situation, the client’s goals may not be realized without additional savings. This is not an uncommon occurrence. How clients react to the results of the financial plan vary from relief and confidence, and sense of control to anxiety and fear, including being overwhelmed, disappointed, and resistant to making any changes to their lifestyle.
Not following a carefully constructed financial plan can be incredibly frustrating for both the consultant and client(s). Your company’s compliance department should have a Financial Planning Agreement form (FPL). Prior to an engagement with the client, review with them the FPL. If the client accepts the terms, there should be an area on the FPL client and preparer’s signatures.
I would suggest in this situation that you schedule a meeting where there is an open and honest conversation that addresses their reluctance to follow the financial plan. Was there a misunderstanding, a
miscommunication, or anything else that may cause the client not to accept the plan? Listen to the client, acknowledge their feelings and concerns without judgement. Re-Educate them by reviewing the financial plan and illustrating the long-term impact to their retirement goals if they do not make the necessary financial decisions now.
There could be a “disconnect” between you and the client. Bring in another member of your team, a colleague, or office manager to review the plan with the clients. If possible, ask if they could bring in a family member, their attorney, or tax advisor to review the plan and explain the consequences if it is not followed.
Tell your clients that the Financial Planning Process is a journey that each of you will travel. Ensure them that you are going to offer regular meetings to review the plan and make any necessary changes for them to achieve their retirement goals.
Make sure that you are taking notes from each meeting and placing them in your CRM. You may want to record the meetings for reference in the future. If something does arise and there is a complaint, you will have the evidence required to protect yourself. If you feel strongly that a negative situation may arise, tell them that they need to find another advisor.
You are the client’s financial consultant, their counselor, teacher, guide for financial matters. Be patient and empathetic to their feelings. We need to be understanding as to a client’s reluctance in all financial matters, including a financial plan. As Registered Financial Consultants we should strive each day and every day to abide by the Code of Ethics provided by the IARFC.
The Loren Dunton Lifetime Achievement Award is made, in honor of the founder of the financial planning profession, Loren Dunton, to each person who has made a substantial contribution to the financial services profession and/or the financial interests of the public.
Loren Dunton, generally regarded as the “Father of Financial Planning”, organized financial professionals in the late sixties. In 1969 he convened a group of financial professionals in Chicago and founded an industry of outstanding service and commitment. From this event and from Dunton’s leadership and interactivity with many persons now in the IARFC would come an educational institution, the College for Financial Planning and the personal financial planning curricula now taught on over one hundred campuses.
Having been a successful businessman, although never a financial consultant, his comments were from the heart. He used his experience to frankly explain back then, what we recognize now, that...
Planning is not separate from the “sale” of insurance and investment products, but are different roots of the common tree.
Products are necessary elements in the implementation of the financial plan.
Salesmanship should be taught by the managers and trainers of the financial services industry.
The ethical sale of financial products and the delivery of competent advice is a very noble calling.
As the first editor of Financial Planning magazine Dunton helped to publicize an emerging profession, bringing various practitioners together for a common cause, sharing practice and marketing techniques and promoting ethical conduct. That respected magazine has continued contributing to the profession. Two associations came initially from this effort, the International Association for Financial Planning and after the first class of Certified Financial Planners graduated in 1973, the Institute of Certified Financial Planners. These organizations have since merged to become the Financial Planning Association. Using Dunton’s model, more than forty countries have formed similar organizations.
Dunton continued to promote the value of the financial consultant as a professional whose quest for knowledge should never cease. He authored seven books that have helped to shape the careers and services of financial consultants. Dunton’s commitment to these principles was evidenced in the Institute for Consumer Financial Education that he nurtured for many years, and which earned a Presidential Citation for public service.
Criteria for the Loren E. Dunton Lifetime Achievement Award
Those who are considered for the Award must currently meet or have met the following criteria:
• Hold a professional designation or credential (i.e. RFC®, MRFC®, ChFC®, CFP®, CLU®, CPA/PFS, CEBS, MSFS, or Doctoral degree, etc.)
• Published articles, journals, books, etc. on financial topics
• Provided outstanding service or leadership in the financial services industry
• Promoted or participated in some aspect of financial education, either to the public or to members of the profession
• Demonstrated effectiveness in carrying the message of responsible financial stewardship to the public
• Adherence to the IARFC’s Code of Ethics and have a sound record of business integrity with no suspension or revocation of a professional license
When I began my career 25 years ago, I naively believed that passing my initial licensing exam was the pinnacle achievement that would define my professional journey. Little did I know that this milestone was merely the first step in a complex, challenging, and ultimately rewarding path of business ownership.
In our industry, technical knowledge is the baseline, not the ceiling. As financial advisors, we enter the field passionate about markets, investments, and helping clients achieve their goals. What the licensing exams don’t prepare you for is the multifaceted role of business ownership that eventually becomes the larger part of your professional identity.
Over the years, I’ve discovered that running a successful practice requires wearing many hats, often simultaneously. I’ve had to become versed in legal matters, negotiating leases, managing acquisitions, hiring, employment law, building a culture and a company that does not solely revolve around me the solo entrepreneur, and navigating regulatory requirements that seem to multiply yearly. The technical aspects of our profession—the part we initially train for—eventually becomes just one component of a much broader operational ecosystem.
Perhaps the most significant revelation has been the critical importance of human capital. Building a thriving practice isn’t just about client acquisition; it’s about creating a team that can deliver consistent excellence. This means developing skills in:
• Recruiting talent that aligns with your vision
• Implementing effective training systems
• Establishing clear career advancement pathways
• Creating a culture that nurtures growth and innovation
• Understanding when to delegate and when to lead
I’ve learned that my success is directly proportional to my team’s success. Investing in people—their skills, their well-being, their future—has yielded returns far beyond any market investment I’ve ever made.
Technology has transformed our industry in ways that were unimaginable when I started. From paper files and fax machines to cloud-based platforms and AIassisted planning tools, the technological demands on business owners have grown exponentially.
Staying relevant has meant continuously evaluating and adopting new technologies that enhance client service while improving operational efficiency. It’s meant learning to podcast, developing digital marketing strategies, and finding new ways to reach clients in an increasingly virtual world.
The advisors who resist technological change find themselves at a significant competitive disadvantage, regardless of their technical expertise or years of experience.
Among all the decisions I’ve made as a business owner, changing RIA platforms and selecting strategic partners has proven to be among the most consequential. The marketplace is crowded with vendors, platforms, and consultants who claim to have all the answers. Many position themselves as industry leaders and experts, but as I’ve discovered— often through costly trial and error— reality frequently falls short of these promises.
The most valuable lesson I’ve learned is to be extraordinarily selective about partnerships. The right platform doesn’t just provide operational support; it aligns with your values, enhances your service model, and enables your vision for
growth. The wrong partnership can drain resources, restrict innovation, and ultimately compromise client service.
When evaluating potential partnerships, I now look beyond the sales presentations and carefully assess:
• Cultural alignment with my practice
• Track record of adaptability during industry changes
• Genuine commitment to advisor success, not just platform growth
• Technological infrastructure and innovation roadmap
• Regulatory support and compliance resources
• Access to resources of a big brand firm with a boutique approach
One of the most humbling aspects of business ownership is recognizing that no one—not even the most successful among us—has all the answers. Markets evolve, regulations change, client expectations shift, and technology transforms. The “expert” with absolute certainty is often the least reliable guide in our complex industry.
True expertise in our field isn’t about having all the answers; it’s about asking the right questions, maintaining intellectual curiosity, and being willing to adapt when circumstances demand it. It’s about building networks of trusted colleagues who can provide perspective when challenges arise.
Twenty-five years into this journey, I’ve come to appreciate that business ownership is not a destination but a continuous process of evolution. The skills that brought success yesterday may not be relevant tomorrow, and the humility to recognize this reality is perhaps the most valuable business asset of all.
For those earlier in their journey, I offer this advice: embrace the full spectrum of business ownership. Invest in your technical skills, certainly, but also in your leadership
capabilities, your technological fluency, and your ability to build meaningful partnerships. Be selective about who you allow to influence your business decisions and never stop questioning conventional wisdom. Just as we ask and expect clients to trust us, we need to be able to trust our colleagues, those who we collaborate with and rely on.
The path of business ownership in our industry is challenging, but for those willing to evolve continuously, it remains one of the most rewarding professional journeys available. The license on your wall may be what allows you to practice, but it’s your evolution as a business owner that will ultimately determine your impact and legacy.
Laura Stover, RFC ® CEO and Founder Founder of LS Wealth Management LLC SM
Laura is also a founding member and owner of LS Tax LLC, a consulting and tax planning firm. Having worked with clients all over the country for nearly 25 years, Laura has established herself as a trusted financial resource for national media organizations in her capacity as CEO.
Investment advisory services offered through Virtue Capital Management (VCM) an SEC Registered Investment Advisor. LS Wealth Management LLC SM and VCM are separate entities. The opinions expressed are those of the author, and do not reflect the views of Virtue Capital Management. LSWM SM , Laura Stover SM , LS Wealth Management LLC SM are among the Federally registered trademarks or other trademarks, service marks or logos owned by LS Wealth Management LLC SM Any unauthorized use is expressly prohibited. © 2025 LS Wealth Management LLC SM All rights reserved.
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The Journal of Personal Finance encourages high quality submissions that add to the growing literature in personal finance. Since this literature spans a number of disciplines, authors are encouraged to conduct a thorough review of literature prior to submission. We are looking for original research that uncovers new insights in personal finance – research that will have an impact on advice provided to individuals. It is the goal of the editor to provide timely reviews (less than 60 days) and decisions to authors.
To submit manuscripts to the IARFC for publication. Visit https://www.iarfc.org/publications/journal-of-personal-finance for submission guidelines or contact jpfeditor@iarfc.org.
Take the CE Test at the end of the Journal and send it in for CE Credit.
• Financial Independence of Emerging Adult College Students
• Deep Six the 60/40 Rule
• Target Date Funds and the Paradox of Choice
• Making Personality Traits: The Effect of Automatic Enrollment on Retirement Plan Participation Decisions
• The Impact of Covid-19 on the Savings Attitudes of College Students
• Achieving Housing Goals: Examining How Housing Adjustments Relate to Financial Strain
• Student Loads, Income, and Financial Well-Being: Evidence from Survey of Household Economic Decicionmaking
• Looking Back to Plan Ahead: a Thematic Analysis of a Decade of Personal Finance Year-in-Review Webinars
• Empowering Students Through Financial Literacy: An Evaluation of NGPF’s High School Curriculum
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Top Reasons to Become a Master Registered Financial Consultant
Demonstrates
Mastery in Comprehensive Financial Planning
Validates competency in retirement planning, investments, insurance, tax strategies and estate planning
Focus on Real-World, Client-Centric Applications
Emphasizes practical application and real-world client engagement
Ethics and Accountability Maintains a code of ethics and continuing education requirements
Differentiation in a Competitive Market
Provides marketable distinction alongside other designations
Recognition by the International Association of Registered Financial Consultants (IARFC ® )
Issued by a long-standing industry association with member networking opportunities
Practical Knowledge is the application of skills and theories to solve real-world problems efficiently and effectively. It is gained through direct experience, experimentation, and hands-on practice, often outside of traditional classrooms. This knowledge emphasizes adaptability, quick decision-making, and tangible outcomes that meet immediate needs. Practical skills involve learning from successes and failures, sharpening one’s ability to respond to unpredictable environments. It is inherently action-oriented, focusing on “how” to make things work in specific contexts.
Academic Knowledge represents a structured and systematic approach to learning, centered on theories, models, and concepts. It is cultivated through rigorous study, research, and critical thinking in formal educational settings. This form of knowledge prioritizes depth, precision, and intellectual exploration, often pushing the boundaries of human understanding. Academic learning helps build a strong foundation by exploring “why” things happen, enabling learners to connect ideas across disciplines. It encourages analytical skills and fosters a mindset geared toward innovation and long-term problem solving.
Despite the importance of academic knowledge, Practical Knowledge overwhelmingly dominates in the real world, because it directly impacts daily life and business success. Employers and industries prioritize individuals who can deliver results and navigate complex challenges with effective solutions. Practical experience translates knowhow into measurable achievements, driving productivity and innovation on the ground. Academic insight often requires practical application to become truly useful, meaningful and sustainable. Ultimately, the real world rewards those who can turn ideas into action, making practical skills the most desired and indispensable asset.
Be the Difference!
As a faculty member, I carry the MRFC credential into academia. I am often asked what it is, and I get to tell the story of a Professional Master Credential based on competency, not longevity. Not “production.” Not purchased, but earned, through sheer merit and competency. In a world of “what things look like”, the MRFC is actually the Real Thing... Sean Clark, MRFC ®
The MRFC credential reminds me to bring the very best – “mastery” – to my work for others, in my role as their financial consultant. That mastery encompasses continual learning & adherence to ethical standards, measured as required by substantial yearly continuing education requirements. I value and enjoy being part of a group of other MRFC credential holders, fellow professionals who also care about lifelong learning and depth of quality in what they offer to their clients... Mary Anne Redmond, MRFC ®
The MRFC credential serves as a powerful testament to a member’s dedication to excellence, providing clients with assurance that credential holders have demonstrated a high level of competency by successfully completing a rigorous examination. This process ensures that professionals who carry the MRFC designation possess the necessary skills, knowledge, and ethical principles required to serve clients effectively... Melvin Mills , MRFC ®
I am an MRFC in the second oldest Financial Planning professional association in the U.S. MRFCs benefit from interacting with consultants from a number of member nations across the globe. No other professional Financial Industry Association bases their credential on education-experience and elite status. Many base their designations on volume of sales-totally the wrong way to measure capability and character... Alan Kifer, MRFC ®
Volunteering for the IARFC US Chapter Board of Directors is indeed a way to give back. With over 25 years of service to the financial services industry, Jeffrey Bettermann, RFC ® has experience and knowledge to bring to the Board. But behind the person wanting to participate in a leadership role for the IARFC US Chapter activities, there is an independent practitioner who is the founder of his own firm. Jeff currently is in the mode of consulting with new (and experienced) consultants in sharing best practices in processes and client engagement.
Register : 25 years is a milestone. Tell us how you got started on your career path?
Jeff: I began my career in 2000, selling life insurance. At the time, the focus was heavily on making sales — but something didn’t sit right with me. I knew there had to be more to this work than just selling policies. I wanted to truly help people, not just check boxes.
That’s when I started seeking out ways to become a more knowledgeable, well-rounded financial planner. I dove into learning everything I could about building real solutions for clients. Looking back, I’m glad I trusted that instinct. It shaped the way I work today — putting planning, education, and long-term relationships first. That shift has made all the difference, both for my clients and for me.
Register : What drew you to the financial services industry initially?
Jeff: What really drew me in was the idea that I could build a career around helping people in a meaningful way. I’ve always been driven by purpose, and the thought of guiding someone through some of life’s biggest financial decisions felt incredibly rewarding. It wasn’t just about numbers — it was about making a real difference in people’s lives.
Register: Who were important people in your life in respect to your career and what kind of advice did they give you?
Jeff: My brother played a big role early on — he really helped me understand how to blend a sales approach with a true, solutionsdriven mindset. He also encouraged me to become a securities professional sooner than I probably would have on my own, which set me on the right path.
Two other people who were incredibly influential were Rick Hart, a Senior VP, and Lynn Niedermeier, the CEO of Invest Financial Corporation. They saw something in me and gave me a chance I probably wasn’t ready for at the time — managing relationships with C-suite leaders, program managers, and financial advisors at financial institutions. It was a steep learning curve, and I’ll be honest — I struggled at first. But I listened and observed closely. I paid attention to what the most effective advisors were doing... and just as importantly, what the ineffective ones weren’t doing.
That experience helped me grow in ways I never expected, and it led to a pivotal connection with Roccy DeFrancesco, JD—the founder of the Wealth Preservation Institute. Roccy has been a strong influence and partner in my work. He’s a consumer advocate and industry watchdog, and we share a deep belief in what it means to be a truly good advisor. Today, we work side by side to educate advisors on best practices for income planning, annuities, life insurance, and investment management — all grounded in a solutions-first approach through his OnPointe Planning Software.
Perhaps the person that has been the biggest influence in my career has been Dan McDonald. Dan is the co-founder of AdvisorShare. Working with Dan has proven to be invaluable. He has empowered me to trust my instincts and share my experiences to provide deeper value to advisors. We go well beyond products and portfolios and have helped transform advisor practices to be more holistic in approach. His leadership style is to focus on people and relationships and has proven that strong business leaders can be driven through caring, trust, and transparency.
Register : Name some of the difficulties/roadblocks if any in starting your career? How did you overcome your adversities.
Jeff: Like many people starting out, one of the biggest challenges for me was simply gaining the knowledge and experience needed to be truly effective. There’s no shortcut — it takes time, humility, and a willingness to keep learning.
I quickly realized that if I wanted to grow, I had to stay curious and never assume I had all the answers. I made it a priority to listen closely, ask questions, and learn from every experience, good or bad. Staying a student of this profession has made the difference, and it's something I still carry with me today.
Register : Is there a certain method to obtain new clients?
Jeff: There is a method I follow, yes — but more importantly, it’s a philosophy rooted in education and real value. Over the years, I’ve
learned that relying on outdated “rules of thumb” just doesn’t cut it anymore, especially in such a competitive industry.
What’s guided me most is the time-segmented approach for income planning. That framework has helped me approach each client with a deeper, more strategic mindset — and honestly, it’s made a big difference. It’s not just about closing more business; it’s about building trust, growing meaningful relationships, and offering solutions that truly fit. The results speak for themselves in both client outcomes and long-term loyalty.
Register : Give us your insights in balancing technology with personal contact when working with clients?
Jeff: There’s no question that the financial services world has shifted toward video conferencing — and for good reasons. It’s efficient, convenient, and widely accepted by clients today. But if there’s ever an opportunity to meet with someone face-to-face, I still believe that’s where the deepest connections are made. There’s something about sitting across the table from someone that builds trust in a different way.
That said, the rise of virtual meetings has opened up a lot of doors — not just for clients, but for advisors, too. It’s allowed many of us to build more flexibility into our workdays, reduce overhead, and actually spend more quality time focusing on client needs. In the end, it’s all about meeting people where they are, whether that’s in person or on screen — and making sure they feel seen, heard, and supported either way.
Register: How do you help protect clients’ financial futures regarding the changing financial trends, economic policies, and changing regulations?
Jeff: That’s a great question — and one that doesn’t always have a simple answer. At the heart of it, I
believe the best way to help clients feel confident about their financial future is through education and thoughtful, well-rounded planning.
Clients face three major risks in retirement: longevity, inflation, and timing. Most consultants are wellequipped to help with longevity and timing, but where many fall short is in how they address market risk. Too often, fear of the market is reinforced instead of addressed, especially if it supports selling certain products like annuities. That kind of approach might be convenient, but it’s not always in the client’s best interest.
What I focus on is helping clients understand the real role of market investing—how it can serve them, how to manage the risks, and how to build strategies that protect against uncertainty while still allowing for growth. I don’t believe in leading with products; I believe in leading with solutions. That shift in mindset makes a world of difference — not just in outcomes, but in how clients feel. And if they can rest easier at night knowing they have a plan that’s both realistic and resilient, then I’ve done my job well.
Register : Now you are working with new and experienced consultants advising them on best practices and client engagement strategies. Elaborate on how you help other professionals and why that is your focus.
Jeff: At this stage in my career, one of the things I enjoy most is mentoring other advisors — helping them deepen their understanding of the planning process and, in turn, improve the way they engage with their clients. When an advisor truly understands how to lead with a strategy rather than a product, everything else falls into place. The conversations become more meaningful, client trust grows, and the solutions naturally align with their needs.
I spend a lot of time coaching advisors on how to build income
plans and manage assets effectively — how to weave together different investment mandates and policies into a portfolio that actually serves the client’s goals. Interestingly, when the process is done right, there’s often a natural increase in annuity use — but not because it was the goal. It’s just the right fit more often when the full picture is considered.
Ultimately, my focus is on helping advisors deliver a better client experience — one built on education, transparency, and planning. That’s what builds lasting relationships, and that’s the kind of work I’m proud to support.
Register : Why did you become a member of the IARFC and then decide to volunteer on the US Chapter Board of Directors?
Jeff: I became a member of the IARFC over 23 years ago because I wanted to surround myself with professionals who were truly committed to doing things the right way. I was eager to learn, grow, and be part of a community that shared those same values. It turned out to be one of the best decisions I’ve made in my career.
What’s kept me so engaged over the years is the organization’s commitment to continued education. The CE requirements go
well beyond other designations like the CFP ® , and to me, that speaks volumes. It’s one thing to build a strong foundation — but being a lifelong student of this profession is what makes a real difference for clients. Volunteering on the U.S. Chapter Board felt like a natural next step. It’s my way of giving back to a group that’s played such an important role in my own development.
Register : What kind of activities/ programs do you hope to champion as a Board Member?
Jeff: It’s truly a privilege to serve on the U.S. Chapter Board. I take the role to heart. There are two areas I’m especially passionate about.
First, I want to help grow our membership by highlighting just how much value the IARFC brings to professionals at every stage of their career. A wealth of knowledge, tools, and support is available — and I want to make sure more people know it’s here for them.
Second, I’m focused on promoting industry best practices, centered around planning and practice management. The way we serve clients is always evolving, this as an opportunity to help advisors stay sharp, ethical, and forward-thinking. If we can continue to raise the bar together, everyone — especially our clients — benefits.
Register : Since experiencing your first Financial Planning Competition, give us your feedback on the students presenting their plans?
Jeff: It was truly inspiring to witness such bright, motivated students showcase their knowledge. Financial planning isn’t an easy field — it requires a rare mix of technical expertise, creative problem-solving, and the ability to communicate clearly and confidently with clients. That’s a tall order, and these students rose to the occasion.
I was especially impressed by the poise and professionalism they showed while presenting in front of a room full of experienced advisors. That takes real courage. The quality of their work made it incredibly
difficult to choose a winnerm. It left me feeling excited about the future of our profession.
Register : What do you see as the challenges for recruiting the younger generation to financial services industry?
Jeff: One of the biggest challenges is that building a successful career in financial services takes time, patience, and persistence — qualities that can be tough to lean into when the world around us is moving so fast and often rewarding instant results. It’s not an industry where success happens overnight, and that can be a hard sell to younger professionals who are looking for quicker feedback and gratification.
Another hurdle is the demographic of the current client base. A large portion of investable assets still sits with older generations — those already in or approaching retirement. That makes it difficult for a younger advisor, who may not yet have experience or trust built up, to compete with more established professionals. But with the right support, mentorship, and a clear long-term vision, I truly believe the next generation can thrive and bring fresh energy to the profession.
Register : How would you suggest that members better utilize their IARFC membership?
Jeff: The best thing any of us can do — no matter how long we’ve been in the field — is to stay curious and committed to learning. This profession is constantly evolving, and there’s always something new to explore or refine. The IARFC offers so many valuable resources to support that growth, but one of the most impactful is the Annual Conference.
It’s more than just an event — it’s a chance to connect, exchange ideas, and learn directly from peers who are just as passionate about serving clients well. Whether you’re new to the industry or a seasoned advisor, there’s always something to take away. I truly believe the more you engage, the more value you’ll find in your membership.
Register : What are your personal and professional goals for the next 5 years?
Jeff: Professionally, my biggest goal over the next five years is to help more agents and advisors embrace the planning process — not just as a helpful tool, but as the foundation of their entire sales approach. Too often, the focus is on gathering a couple of accounts, establishing a loose relationship, and then hoping to circle back for more later. That’s not just inefficient — it’s a disservice to the client.
Clients come to us with what I call a “junk drawer” of investments, and at the end of the day, most of them are just trying to answer two simple but very real questions: Do I have enough to retire? Will I run out of money? When people fear running out of money, they hesitate to spend, even when they’ve earned the right to enjoy life. The consultant who can help organize that drawer, make sense of the bigger picture, and confidently say, “You’re going to be okay — go enjoy your retirement,” is the one who truly makes a difference. That kind of emotional connection builds trust and drives better outcomes.
On a personal level, I’m working on creating more balance in my life. Sure, that might mean playing a little more golf — but it also means continuing to give back in ways that matter. In the past, I’ve served on the board of a police foundation and volunteered with the Golden Retriever Rescue of Southern Nevada. I’d love to keep finding ways to support causes and communities I care about while staying grounded in both my personal and professional purpose.
Register : Finally, what does your leisure/family time look like?
Jeff: For me, time away from work is all about relaxing, recharging, and having fun with the people I care about. Golf definitely takes center stage — it’s my go-to way to unwind — but I also enjoy concerts, kayaking, sitting around a bonfire, or just watching a good movie. Whatever we’re doing, laughter always seems to be part of it.
Once again, we’re gearing up for the National Financial Plan Competition (NFPC), a flagship program that brings together talented students from across the country to showcase their financial planning skills.
As we prepare for this exciting event, the NFPC is seeking both corporate sponsors and individual donors to help support the next generation of financial professionals.
How Does Donating to the NFPC Help You Give Back to the Profession?
Donating to the National Financial Plan Competition (NFPC) is more than a charitable gesture, it’s a meaningful way to invest in the future of the financial services profession. Here’s how your support makes a lasting impact:
Mentor the Next Generation Your donation helps aspiring
financial professionals gain realworld experience through scenariobased planning challenges. These students are the consultants, educators, and leaders of tomorrow — and your support helps shape their journey.
Strengthen the Profession By encouraging education, ethical practices, and practical skills, the NFPC helps elevate the standards of the industry. Supporting the competition contributes to a more prepared, more professional future workforce.
Leave a Legacy Giving back is a powerful way to honor your own career path. Many professionals credit mentorship and opportunity as key to their success, your contribution can pay it forward and ensure others have the same chance.
Support Financial Literacy and Planning Excellence
The NFPC isn’t just a competition,
it’s a learning platform that emphasizes sound planning, communication, and critical thinking. These are the very skills that make our profession respected and trusted by the public.
Your donation isn’t just appreciated, it’s impactful.
Support the NFPC and help develop the professionals you’d want to see in our field.
Individual Donation Levels
Diamond - $500
Platinum - $250
Gold - $100
Silver - $50
IARFC MasterMind Groups are meeting with a goal to expand a sense of IARFC member community. These groups of professionals foster accountability to the Association, bring value to each other’s practices, and benefit the personal individual – all through a means of peer mentoring. How to join a like-minded group?
Contact: Vicki Caplinger, vicki@iarfc.org Greg Kurinec, RFC ® , gkurinec@iarfc.org
On March 21, IARFC Vietnam successfully delivered the final module of the RFC K01 program: “Ethics in Financial Planning”. The session was led by Dr. Frankie LO, RFC ® President of IARFC Vietnam, and provided a practical, thought-provoking conclusion to the RFC training journey.
The course emphasized the importance of ethical standards in the financial advisory profession, equipping participants with both foundational principles and realworld applications. Key topics included:
• The rationale for adopting ethical frameworks in financial planning
• The IARFC Code of Ethics and its implications in daily practice
• Tools and perspectives for recognizing and resolving ethical dilemmas
Case-Based Learning: Ethical Dilemmas in Financial Advisory
The session featured a set of practical case studies, helping participants recognize and navigate common ethical dilemmas in financial planning:
• Conflict of Interest:
Cases involving high-commission products, advising family members, and dual-role scenarios helped participants assess conflicts and apply disclosure principles to protect client interests.
• Transparency and Disclosure:
Scenarios on hidden fees, incomplete risk assessments, and over-optimistic projections reinforced the need for honest communication and responsible forecasting.
• Client Confidentiality:
Participants examined real-world examples of email leaks, public disclosures, and social media mishandling to strengthen their understanding of professional privacy obligations.
• Social Responsibility and ESG Investing:
Investment dilemmas related to environmental and social impacts encouraged participants to integrate ethical awareness into portfolio recommendations and long-term strategies.
The session successfully elevated awareness and critical thinking regarding ethical challenges in financial planning. By anchoring theory with real-world examples, participants were able to internalize key ethical principles and are now better equipped to apply these standards in their professional practice.
This capstone module not only fulfilled the academic requirements of the RFC designation but also reaffirmed IARFC Vietnam’s commitment to fostering responsible, ethical, and globally aligned financial professionals.
At the ceremony, Dr. Teresa So, RFC ® , MRFS, Chair of IARFC Hong Kong and Macau, remarked: “More than two years ago, we embarked on the development of the MRFS certification program with emphasis on Trust and Financial Technology education, hopefully to further enhance the professionalization of the Financial Planning industry .”
The Program Graduation cum MRFS Conferment Ceremony jointly organized by IARFC Hong Kong and Macau Centre and School of Business, The Hang Seng University of Hong Kong (HSUHK) was satisfactorily held on April 25, 2025 (Friday) at the main campus of HSUHK, New Territories, Hong Kong.
The ceremony marked the accomplishments of the program graduates who completed the “Executive Certificate in Contemporary Financial Planning Program”, in addition to those elites who were conferred the prestigious "Master Registered Financial Specialist (MRFS)” certification.
Significance of the Program and the MRFS Certification
The "Executive Certificate in Contemporary Financial Planning Program," a collaborative initiative between IARFC Hong Kong and Macau Centre and School of Business at HSUHK, with support from the Hong Kong InsurTech Association, focuses on two pivotal pillars of modern financial planning: Trust and FinTech. The program is designed to elevate the professional expertise and practical capabilities of financial consultants. The MRFS designation is a distinguished certification conferred by IARFC to RFC qualifiers who successfully complete this advanced curriculum.
Highlights of the Ceremony
The ceremony commenced with opening addresses by Professor Sam Park, Dean of School of Business and Distinguished University Professor of HSUHK, and Dr. Teresa So. These was followed by a Keynote Speech titled "Promoting Intergenerational Inclusion and Progress: The Role of Lifelong/Continuing Education in the Era" delivered by Professor Joshua
Mok, Provost and Vice-President (Academic & Research) of HSUHK.
Pre-recorded congratulatory messages from honorable VIPs were broadcast during the ceremony. The Honorable Joseph Chan, JP, Under-secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government, praised the program and the certification for their functions in shaping industry standards. Mr. Barry L. Dayley, MRFC ® , CFP ® , Chair of the Board of Trustees, IARFC extended his felicitations by stating: "In an age where longevity and poverty coexist, Financial Planning is of paramount importance. IARFC aims to welcome over 20,000 new members in the coming decade and extend its reach to 35 countries or regions, including Ho Chi Minh City, Hanoi, Singapore, Kuala Lumpur, Shanghai, Beijing, and Seoul."
The pinnacle of the ceremony was the presentation of program certificates and the MRFS
conferment. It was officiated at by Dr. Thomas Man, Associate Dean (Taught Postgraduate Programs), School of Business at HSUHK, and Dr. Teresa So. It was followed by the heartfelt sharing by Ms. Queenie Chan, RFC ® , MRFS, Graduates’ Representative: " The program has not only sharpened our professional skills but also equipped us with fresh perspectives to serve our clients amidst the ever-evolving financial landscape ."
The ceremony exemplified the fruitful partnership between the IARFC Hong Kong and Macau Centre and HSUHK in advancing Financial Planning education. It underscored their shared commitment to nurturing Financial Planning talents. Through the "Executive Certificate in Contemporary Financial Planning Program" and the MRFS certification, financial consultants are empowered with cutting-edge knowledge and skills, enabling them to deliver professional services to their clients while contributing to the sustained growth and development of the Financial Planning industry.
I want to personally thank those who have contributed to the running of the IARFC Chapter in the Philippinesit has been a pleasure to meet Board Members during my international travels. All of you have been gracious hosts with a passion to see the IARFC succeed in your country. I am optimistic on the progress we can make together in serving your members and look forward to working with Grace as your new leader .”
Barry Dayley, MRFC ® , CFP ® - IARFC Trustee Board Chair.
Gary Padussis, RFC ® IARFC Ethics Director Ethics - How to Stay Ethically Sound and Transparent
David Kinder, RFC ® , ChFC ® , CLU ® Fiduciary Duty
Greg Kurinec, RFC ® IARFC US Chapter Board MasterMind Groups
Barry Dayley, MRFC ® , CFP ® IARFC Trustee Chair Guiding Principles
Special thanks to Bong Escobar who records and does post production for the IARFC Philippines International Podcast Series.
Over the past 25 years, the financial planning profession has experienced remarkable transformation. We have witnessed substantial growth in the number of academic programs, graduating students, and—perhaps most importantly—the caliber of talent emerging from these programs. This growth comes at a critical time, as the profession undergoes a massive generational shift. As the founding generation begins to retire and pass down their legacies, the need for qualified successors has become more urgent than ever. Despite this upward trend in talent and education, a notable shortage of replacement advisors remains, due in part to persistent barriers to entry within the profession.
This generational shift also necessitates a new mindset around compensation. The competition for top-tier talent requires firms to reevaluate legacy compensation structures. Traditional commissionbased models were designed to protect high-profit margins and deter new competition—and for many years, they succeeded. However, emerging professionals now prioritize stability and predictability over potentially higher, but less certain, earnings. This shift in priorities is prompting firms to reconsider how they compensate early-career advisors.
According to a 2025 study by Cerulli Associates, more than 72% of US-based advisors are compensated by fee-based
models, with that expected to increase to over 76% in 2026. Commission-based models have declined to just 23% of advisor compensation models.¹ Another 2023 study by Cerulli Associates suggests that over 100,000 financial advisors (about 37% of the industry) plan to retire within the next decade. However, as many as 72% of rookie advisor trainees leave before completing their training—an alarming trend.² At the 2024 AssetMark Gold Forum, when a keynote speaker posed the question "How many of you plan to retire in the next decade?" at least half the room of over 1,500 advisors in the auditorium raised their hands.
Research from multiple sources suggests that firms offering competitive base salaries are more attractive to new graduates than those offering purely commissionbased compensation. As much as 85% of Gen-Z refuse to apply for jobs without salary disclosure in the job description.³ Moreover, today's students want transparent pathways to advancement, including a clear route to partnership. These structured career tracks allow new advisors to build competence, develop their professional networks, and earn credibility before transitioning into client acquisition roles. Additionally, students want comprehensive benefits including mentorship programs, rotational positions, and cohort-based onboarding—all anchored by a reliable base salary. Such initiatives help create inclusive environments that support both career
development and the retention of diverse talent.
This evolution is evident at the University of North Texas, where graduates of the Financial Planning Program are choosing salaried roles at well-established institutions like Charles Schwab, Fidelity, TIAA, and Vanguard, as well as at fee-based RIA firms. Many students are fielding multiple job offers, with starting salaries ranging from $55,000 to as much as $80,000 for candidates with significant internship or part-time experience. In the most recent graduating cohort, several students received offers exceeding $70,000 plus performance bonuses. Just a decade ago, top-tier graduates would have expected starting salaries closer to $45,000. Today, due to a scarcity of qualified candidates—especially in talent-rich areas like Dallas-Fort Worth—firms are not only increasing base pay but also engaging in aggressive talent acquisition, including poaching experienced advisors from competitors.
To build sustainable succession plans, firms must be proactive. This includes offering competitive base salaries, establishing mentorship and development programs, and creating a clear path to equity ownership. Additionally, retention must be a priority. Open communication and consistent follow-through are essential to preventing turnover and preserving institutional knowledge.
A good succession plan takes years to implement. If a founder wishes to exit, they will need to already have that individual or team in place to run the business. The second generation, often referred to as G2, needs time to build rapport and establish their own relationships with the founder's clients. Not only that, but they must be knowledgeable professionals who are willing and able to run the firm. This individual or team needs to be the financial planning experts that clients deserve and be willing and able to buy out the founder. There are many different ways to structure internal buyouts, and many lenders specialize in financing internal transitions at RIAs. The students today represent the G2 and G3 of tomorrow. The good ones will gravitate to opportunities where a thoughtful succession plan is already in place.
In addition to poaching experienced advisors from competitors, large aggregator firms often cite talent as one of the main reasons they chose to pursue a firm. While selling to a third party can be a solution to succession, the founder with a G2 team in place will command a higher premium. This leads to making sure firms have competitive base compensation and non-monetary support structures to attract G2 talent to begin with.
Recent college graduates bring sophisticated compensation expectations that challenge traditional financial services models. While they seek competitive compensation, they prioritize security, transparency, and work-life balance over maximum earning potential. Financial planning firms that adapt their compensation strategies to address these preferences—through salary transparency, comprehensive benefits, student loan assistance, and structured career development—will gain significant competitive advantages in recruiting and retaining top talent from this generation.
The profession stands at a crossroads. Firms that recognize
and adapt to these changing expectations will position themselves to attract the next generation of financial planning professionals. Those that cling to outdated compensation models risk being left behind in an increasingly competitive talent market.
By Dr. Mark Evers, CFP ® , CRPC ® and David Ragan, CFP ® University of North Texas
References:
¹ "More than 72 per cent of US financial advisers are compensated by fee-based models: Cerulli Associates," https://etfexpress.com/2025/03/18/more-than-72-per-centof-us-financial-advisers-are-compensated-by-fee-basedmodels-cerulli-associates/
² "Advisor Headcount Remains Relatively Stagnant," https:// www.cerulli.com/reports/us-advisor-metrics-2023
³ "Career Services Trends: Pay Transparency with Gen Z," https://career.uga.edu/news/career_services_trends_pay_ transparency_with_gen_z
Professor David Ragan, CFP ® and his student Bavly Bebawy, University of North Texas,who took second place in the 2025 IARFC National Financial Plan Competition in Orlando, Florida - an event hosted by the US Chapter of the IARFC to help promote the next generation of financial Consultants.
Chapter Board
(n) Committees - see addition in red
The Chapter Board shall have the authority to create other currently unnamed Standing Committees, Task Forces, and Advisory Boards with written duties as needed for the continuing operation of the Chapter. The Committee Chairs shall be appointed by the Chapter President. Not all committees in these By-Laws are required except for Ethics Committee.
New Additions
Student Advisory Board
Composition (will consist of odd number of members)
• One (1) Chapter board member (Vice President)
• Two (2) or more college or university professors
Purpose
• Ensure the Chapter’s Student Community continued support of students and honorary members through:
• Ongoing open dialogue
• Growth and development
• Ongoing contribution
Duties
• Approve all submission of material for each Chapter’s “IARFC” Student Community’s website.
• Award college/ university professors who’ve participated in an Association sponsored Financial Plan Competition an Honorary IARFC Association membership.
• Grant student member invaluable access to a global network of financial resources, professional guidance and diverse perspectives.
Article V - Membership
Addition of (f) Student Member, Any student who is either enrolled in a financial services or insurance course at their undergraduate level institution; or, in a vetted financial services or insurance curriculum [be it undergraduate or graduate level]. (i.e. RFS)
In the fast-paced world of financial consulting, the landscape has shifted dramatically over the past decade. For Registered Financial Consultants (RFCs) who are independent business owners, success is no longer just about having the right qualifications or technical skills; it demands a holistic approach including: personal branding, digital literacy, client relationship management, and continuous education. In this article, we will dissect these components and provide actionable strategies that can help you thrive in today’s competitive environment.
A strong personal brand is imperative for any independent RFC. It not only sets you apart from your competitors but also builds trust with potential clients. According to research by *Harvard Business Review*, 70% of consumers want to know what your personal values are before they engage with you (Schawbel, 2021). Develop a unique value proposition that communicates your expertise and the benefits you offer. Utilize platforms such as LinkedIn, Instagram, and even TikTok to showcase your knowledge through articles, videos, and infographics that resonate with your target audience. As you build your online presence, remember to be authentic; people respond positively to professionals who are genuine and relatable.
Digital proficiency has become an essential skill set for success in financial consulting. According to a *2023 report by Deloitte*, nearly
94% of financial advisors believe that technology has improved their efficiency and service delivery (Deloitte, 2023). Familiarize yourself with various financial software applications and CRM systems that can automate mundane tasks and improve client interactions. Embrace tools like social media analytics and email marketing platforms to understand your audience’s needs better and adjust your business strategies.
Consider using automated tools to cater to millennial clients, who are more inclined toward digital solutions for managing finances. Being digitally literate allows you to serve this unique demographic effectively while also enabling you to scale your practice.
## Fostering Client Relationships
Success in financial consulting hinges on building and maintaining strong client relationships. A study published in the *Journal of Financial Planning* highlights that 87% of clients remain loyal to consultants who demonstrate proactive communication (Chlebowski & McMahon, 2022). Establish a routine to touch base with clients regularly, whether through newsletters, check-in calls, or personalized notes. Use customer relationship management (CRM) tools to track interactions and set reminders for follow-ups.
Additionally, personalization is key. Customize your financial plans based on individual client goals and situations. Remember, clients appreciate when you go the extra mile to understand their unique circumstances, making them more likely to refer you to friends and family.
The financial industry is in a constant state of evolution, driven by changes in legislation, market dynamics, and technological advancements. According to *Investopedia*, financial advisors who engage in continuous education are 65% more likely to retain their clients long-term (Investopedia, 2023). As an RFC, make it a priority to stay updated with the latest industry trends and regulatory changes. Online courses, webinars, and industry conferences can provide valuable insights and keep your skills sharp. Joining professional organizations like the International Association of Registered Financial Consultants connects you with colleagues, peers, even mentors sharing a mission of Growing a Global Community of Registered Financial Consultants.
Furthermore, consider earning additional certifications or designations that can enhance your credibility. The pursuit of knowledge doesn’t have to stop once you’ve reached a certain level in your career; staying curious will set you apart as an expert in your field. As in other professions, become a “Master”; a Master Registered Financial Consultant. People want highly qualified, educated, experienced, ethical and elite guidance from their financial consultant. Being an MRFC clearly identifies you as a TOP GUN Financial Consultant. Wear this reputation proudly.
Networking remains one of the most powerful tools available to independent financial consultants. A report from the *Financial Planning Association* indicates that 75% of new clients come from referrals and personal connections (FPA, 2023). Engage in community events, join professional associations, and utilize online forums to meet potential clients and partners. Establishing relationships with other professionals—such as accountants and attorneys—can lead to mutually beneficial referrals.
Remember, networking isn’t just about getting clients; it’s also about learning from peers and sharing best practices. Attend industry events like IARFC’s Virtual Summit and Financial Forum. Broaden your network and gain insights into different aspects of financial consulting. Consider Joining a Master Mind Study Group. Like-minded colleagues eager to sharpen their skills.
Integrity and ethics are cornerstones of financial consulting. A *2022 survey by the CFA Institute* found that 95% of clients regard ethical behavior as the most important factor when choosing a financial consultant (CFA Institute, 2022). Build a strong ethical framework within your practice, ensuring transparency in your operations, fees, and services. Be open about any potential conflicts of interest and always prioritize the needs of your clients over everything.
Creating a culture of ethical practice not only enhances your reputation but also fosters longterm relationships with clients. They will feel secure knowing that their financial well-being is your foremost priority. Become ETHICS APPROVED demonstrating to the public that you’ve met stringent standards proving your commitment to ethical conduct in financial consulting.
While being a generalist can be beneficial, specializing in a niche market significantly enhances your business visibility to attract targeted clients. According to *Cerulli Associates*, specialized financial consultants get far fewer price objections from clients who expect to pay for the expertise they’re getting. (Cerulli Associates, 2023). Consider focusing on demographics that align with your interests or career experiences, such as: divorcees, retirees, or small biz owners. The list of those needing specialized consulting skills is endless.
Position yourself as an expert to professionals in specific fields: Doctors, Dentists, Surgeons. Gain credibility and authority. Develop tailored offerings addressing the unique challenges faced by your niche audience. Satisfy their needs and you will enhance your marketability.
In today’s digital age, a well-defined marketing strategy is vital for attracting new clients. Utilize content marketing to establish thought leadership in your field. According to the *Content Marketing Institute*, 60% of successful financial consultants use blogs, podcasts, videos, even radio to educate their audience and create engagement (Content Marketing Institute, 2023). Regularly publish insightful articles [like this]. Share your expertise across multiple platforms.
Email marketing is another potent tool for maintaining communications with existing and potential clients. Craft informative newsletters that provide value—whether it’s market updates, tips for budgeting, or investment strategies—to keep your audience engaged and informed.
Make it personal and real. Put sincerity and heart into your words. You will reap rewards.
Succeeding as a Registered Financial Consultant and independent Business Owner in today’s ever-evolving landscape requires a multi-faceted approach. From building a robust personal brand to mastering digital tools, fostering relationships, marketing to specific niches and committing to ongoing learning. Every aspect contributes to your overall success. By cultivating a mindset geared toward adaptability and continuous improvement, you can navigate the complexities of the financial consulting world and emerge as a trusted advisor equipped to meet clients’ needs. Ethical-ExperiencedElite, you are a Registered Financial Consultant.
### References
-Chlebowski, D., & McMahon, K. (2022). Client Retention Strategies. *Jrnl of Fincl Plng*.
- Cerulli Associates. (2023). The Benefits of Specialization in Financial Consulting.
- CFA Institute. (2022). Ethics & Integrity Report.
- Content Marketing Institute. (2023). Trends in Financial Content Marketing.
- Deloitte. (2023). Technology in Financial Advising: A Study.
- FPA. (2023). Referral Practices in Financial Advisory.
- Investopedia. (2023). The Importance of Continuous Learning for Financial Advisors.
- Schawbel, D. (2021). The Power of Personal Branding. *Harvard Business Review*.
alan@alankifer.com
Let’s be real, financial literacy is not what it used to be. Years ago, it was all about balancing a checkbook, saving a little money, and maybe putting something into a 401(k). Today, things are different. The tools have changed, the expectations have changed, and most importantly, your clients have changed.
As financial advisors, we can’t afford to just “know the basics.” We need to stay up-to-date with the changing financial world. It’s not about being trendy or flashy. It’s about staying relevant, so we can continue to earn trust and deliver real value
Because if you’re not keeping up, chances are… your clients are moving on without you.
At its core, financial literacy still means understanding how to earn, manage, and grow money. But the way people learn and interact with money has changed completely.
Clients today want quick, clear, simple answers. They want digital tools that work on their phones. They want real-world strategies that match their actual lifestyle. That means advisors have to understand:
Apps and tech tools clients are using
• Side hustles and gig work income
• Buy Now, Pay Later options (BNPL)
• Crypto, digital wallets, and alternative investingThe emotional side of inflation and financial stress
Being financially literate now means being tuned in to all of that. Not just what’s in the textbooks.
“Being current in financial literacy is the gateway to sharing financial wisdom. There is an avalanche of information out there (whether we want it or not) and trust continues to sink as confusion grows. It creates paralysis, regardless of whether they do business with us or not. We can become a trusted sounding board to help them to sift, sort, and select the ideas and solutions that fit their situation, but we need to get their attention and build trust first. That starts with meeting them where they are and understanding the current narratives.” - David H. Kinder, RFC ® , ChFC ® , CLU ®
This part’s simple: If your advice sounds outdated, clients will stop listening.
You might be excellent at retirement planning, life insurance strategies, or annuity designs. But if you don’t know how Venmo works or what “split payments at checkout” means, younger clients may tuneout. Worse, they’ll turn to the internet or social media for advice, which may or may not be accurate.
Staying current doesn’t mean you have to chase every trend. But it does mean you need to understand the world your clients are living in. Because if you don’t? Your recommendations won’t connect.
6 Financial Trends You Should Be Paying Attention To
Here are six major trends shaping client behavior and how you should respond:
1. Digital Finance is the New Normal
Mobile banking, budgeting apps, investment platforms, even roboadvisors... Most clients are handling their finances on their phones. Action Step: Test out the same tools your clients are using. That includes apps like Mint, YNAB (You Need A Budget), or even Venmo. When you understand the tools, you can speak your client’s language.
2. Buy Now, Pay Later Is Growing BNPL services like Affirm, Klarna, and Afterpay let users split payments into four or more parts. It feels like free money, but it’s still debt.
Advisor Insight: Talk to clients about how these programs work and how they can affect cash flow and credit. Most don’t think of it as a financial decision until they fall behind.
3. The Rise of Side Hustles and Gig Income
Many clients no longer have just one job. They drive for Uber, sell on Etsy, freelance on the side, or run small online businesses. What That Means: Income is often inconsistent. You need to adjust your approach to budgeting, tax planning, and retirement planning for these clients. Old-school W-2 advice won’t always apply.
4. Investing Is Getting More Casual (and Risky)
From Robinhood to crypto wallets, clients are investing on their own more than ever. And many are doing it without professional guidance. Don’t judge, educate. Help clients understand what they’re getting into. It’s not about shutting down their excitement. It’s about helping them protect themselves from taking too many risks.
5. Inflation and Cost of Living Are Front and Center
Prices have gone up across the board. Groceries, gas, and rent are hitting everyone. Clients are worried about outliving their money, especially those on fixed incomes. Be proactive: This is your chance to revisit spending plans, savings strategies, and long-term goals. Even a small shift in mindset can help clients feel more in control.
6. Clients Are Learning on Their Own—Good and Bad
Social media is full of money “advice.” Some of it is great. A lot of it is not. But your clients are watching it either way.
Your Role: Be their trusted guide. Let them ask questions, and don’t be afraid to say, “Let’s walk through that together.” Clients appreciate it when you help them make sense of the noise.
“Clients appreciate when you help them make sense of the noise. While social media can be entertaining and informative, acting on broad, non-personalized financial advice from nonprofessional social media influencers talking up the latest hot topic may be bad for your financial health, as often the advice is incorrect or doesn’t address both the pros and cons of a particular strategy. Advisors should be aware of these “hot topics” and be open to discussing them with clients to properly advise them. If it starts a great conversation that leads to personalized and suitable recommendations, then it’s a postive.” Barry S. Rutten, CFP ®
You don’t need to be a financial tech expert. You need to learn a little bit at a time.
Here’s how:
• Follow trusted finance blogs or YouTube channels. Find 2 or 3 that offer quick insights without the fluff.
• Listen to your clients. Ask what tools or apps they’re using. Be curious.
• Take notes during client meetings. If you hear something new, look it up afterward.
• Join communities or training programs. Surround yourself with advisors who are also committed to growth.
• Keep your explanations simple. If you can’t explain a topic clearly, you probably don’t fully understand it yet, and that’s okay.
Financial literacy isn’t just a buzzword. It’s the foundation of good advice. And staying current with trends doesn’t mean being trendy; it means being trustworthy. Clients today don’t just want a financial plan. They want someone who understands what they’re facing and can speak to it with confidence. That starts with you.
So, stay sharp. Stay humble. Keep learning. Because in this fastmoving world, the best advisors aren’t the ones who know everything. They’re the ones who keep learning... and keep showing up.
Want help staying ahead of the curve? Our training and tools are built to keep you educated and effective, without wasting your time or overwhelming your schedule. Let’s make sure you’re not just keeping up... You’re leading the way.
Jeremy Nason, RFC®
Jeremy is the co-founder of the Insurance Pro Shop™ – The first affordable, full-service Insurance Marketing and Sales Resource Center for today’s Financial Pro, and Co-creator of Found Money Management™, a life insurance sales training system dedicated to helping Middle-Income Families to ‘Live Debt Free and Truly Wealthy!’
Contact: (877) 297-4608 Outside USA +1 (770) 443-2852
Jeremy@insuranceproshop.com www.insuranceproshop.com
Note: Barry S. Rutten, CFP ® and David H. Kinder, RFC ® , ChFC ® , CLU ® will be featured in the upcoming IARFC Virtual Summit. Go to the IARFC.org events page for all the details and to register for this free event
“It’s
not your father’s
Oldsmobile.”
This was an advertising slogan used by GM in the 1980’s. It probably intended to build on the logic, “That was then, this is now.”
GM retired the Oldsmobile brand in 2004.
With the arrival of artificial intelligence and the proliferation of budgeting apps on Smart phones, it is tempting to think financial planning has stepped away from the traditional principles into something new. It’s quite the opposite: What is old has become new again.
1. Everyone needs a financial plan. You’ve had this conversation with clients before. “If you were driving from New York to Los Angeles, would you simply get in your car and drive or would you study a map first and plan your route. The map is the equivalent of your financial plan, getting you from now to retirement.
Today: Someone might argue the GPS and map tools on your Smartphone take care of navigation. They even alert you to traffic ahead, suggesting alternate routes.
Tradition: Technology and mapping tools support your journey, but you still need to pack changes of clothing, bring money and credit cards and remember to pack your phone and charger. The basics (like having a financial plan) are still important components to have on hand before you start your journey.
2. Financial literacy is important. Don’t you love the expression: “Money talks, it says goodbye.”
Years ago, a money management firm advertised “Making money and managing (preserving) money are two separate skills.” When you are investing money, you need to understand the basics of how the stock market and the economy works.
Today: You can get plenty of information from the Internet. You can learn about different products and different opinions about what the market might do. It’s all on your Smartphone and tablet. Best of all, the advice is free.
Tradition: Free advice is biased advice. Another good expression is free advice is worth what you paid for it. Free advice online is often tied to selling a specific product. .You need to get your advice from someone whose first responsibility is helping you make progress towards your goals. This is why the fiduciary relationship has grown in popularity.
3. Financial independence is the goal. When young people think about retirement, it often seems like a goal in the distant future. It is easy to put off by thinking “I have plenty of time.” The better goal to target is financial independence.
Today: Advertising today promotes immediate gratification. You want to
impress your friends. Conspicuous consumption is promoted. We peek into celebrity lifestyles on TV. We buy lottery tickets hoping for the big score.
Tradition: Financial planning teaches you the first one who should get paid is you! This is often done through pretax payroll deductions like your 401(k) plan at work. It has been said saving 20% of your earnings is a good target, perhaps allowing 10% for enjoyment. You want to get to the point when continuing to work is a choice, not a requirement.
4. Job security is not a given. Your grandparents might have grown up in a world where a bachelor’s degree was the ticket to a comfortable lifestyle. If you were loyal to the company, the company was loyal to you.
Today: Headcount is one of the first expenses companies cut when business slows down. It has been said people will have an average of 12 jobs in their lifetime.
Tradition: You must be prepared for setbacks in the job market. This means having an emergency fund or a short term credit line available.
5. Employers are not promising a comfortable retirement. It’s back
to looking at your grandparents again. Years ago, many people had defined benefit pension plans. It encouraged employee loyalty. You worked until retirement age, got your gold watch and started collecting a pension.
Today: Almost everyone has a defined contribution pension plan at work. You put in money. The company puts some in too. How the money is invested is often your decision. The pot of assets you have at retirement is often based on how well you managed your money.
Tradition: Your assets don’t manage themselves. You need a plan to put your bonus money to work instead of spending it on luxuries. You need to take advantage of perks like an employee stock purchase plan at work and understanding how your stock options work. An advisor can help.
6. Nothing is guaranteed. Many Americans assume there will always be a safety net in place. Some have misunderstood the role of Social Security. It is meant to be a component of your retirement income, not replace your pre retirement paycheck.
Today: Every few years, the future of the Social Security program makes news. There is talk it will run out of money. Although you might consider this unlikely, you must plan for providing for a comfortable retirement all on your own.
Tradition: Advisors often explain retirement income is like a three legged stool: You have income from sources like Social Security, pensions and annuities. You have income generated by your assets. You earn money from a part time job like consulting.
7. Life will become more expensive. Prices don’t go down. The rate of increase is the variable. Health care costs will rise. Property taxes will rise. Trips to the grocery store will cost more.
Today: We see TV ads for health insurance programs that appear to cost nothing. We see others promoting insurance for car repairs or appliances at home. We see meal
kits advertised. Everything you want to watch on TV seems to need a paid streaming service.
Tradition: The financial plan an advisor presents usually projects future expenses into retirement. Using Monte Carlo analysis, it looks at best, worst and average possible outcomes. Will you run out of money? If so, what can you do now to improve your situation?
8. The government always has it’s hand out. The taxing authorities use the logic of “pay me now or pay me later” You might have assets that are tax deferred now, but that doesn’t last forever.
Today: This might not seem like a big problem because any savings you do is often pretax, directed towards your retirement account at work.
Tradition: A good advisor talks with you about ways you can make contributions to charity using stock with long term capital gains or directing a required minimum distribution towards charitable giving.
We might think online tools and budgeting apps reduced the need for a financial plan tailed for an individual. Although online tools help, the need is greater than ever.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, “Captivating the Wealthy Investor” is available on Amazon.
Contact: (215) 862-3607 brycesanders@msn.com www.perceptivebusiness.com
MoneyGuide, singularly focused on financial planning, believes that everyone needs and deserves a quality financial plan.
MoneyGuide makes robust financial planning fast and easy. MoneyGuide 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
In today’s volatile market, clients considering retirement are seeking both guarantees and opportunities. Why settle for just one when they can have both with a 50/50 retirement solution?
Do you have clients who are intrigued by indexed universal life’s (IUL) potential to grow with market performance, while mitigating the risk with a 0% floor? Yet do they also value the predictability of whole life’s guarantees as well as a disability waiver of premium?
With the 50/50 retirement solution, your clients don’t have to choose. They receive the guaranteed cash values and guaranteed growth that whole life insurance provides, along with the potential for market-like returns with the IUL. Down year in the market? Your clients get a guaranteed return and the 0% floor, so there’s no loss. Great year in the market? Your clients can participate up to the cap in their IUL and still receive the guaranteed return.
The 50/50 solution also benefits the client in other ways. For example, any retirement plan is only as good as the money that goes in. This is contribution risk. What happens if the client becomes disabled and can no longer contribute to the plan? With the IUL, the Waiver of Monthly Deduction stops the cost of insurance from being charged, effectively freezing the policy. With whole life, a Waiver of Premium and a Disability Benefit rider continues to pay the premium and fund the policy as though nothing happened. Even if the client is disabled, one part of their plan remains in effect.
What about the opportunity cost risk? IUL provides tremendous potential upside and a 0% floor, but if those zero years occur later in life, the impact can be substantial because there is less time to
recover. This is where the guaranteed growth aspect of whole life is so important. There will still be years with 0% returns, but the impact of those years is moderated because part of the plan is still growing, regardless of the market’s performance.
The 50/50 strategy offers guaranteed growth in down years and the opportunity to participate in up years.
Complimenting an IUL policy with whole life adds liquidity, access, and control of clients’ money; a guaranteed death benefit throughout working years and retirement; guaranteed growth and contributions; and premium and death benefit flexibility. Not only will your clients benefit when the markets are performing well, but also their policies will continue to grow cash value when they aren’t.
By combining an IUL and a whole life policy, you can give your clients a retirement solution instead of a retirement product.
Solutions like this work for clients like this:
• Age 30 – 60
• Middle- to high-income earners
• Values both guarantees and possibilities
• Concerned about their family’s financial needs now, and in retirement
Solutions like this achieve the following objectives:
• Tax-deferred accumulations and tax-free income at retirement
• Protection from the downside of equity markets
• Additional death benefit during working years
Let’s look at a scenario:
John is a 45-year-old husband and father with an upper-middle-class income, who was recently promoted and is now looking to save more, potentially for retirement. He has $1,000 per month to purchase life insurance, to protect his higher income and support his children through college graduation.
John weighs his options between IUL and whole life insurance. If he chooses whole life, he will have $67,000 more in guaranteed cash value in year 20. If he chooses IUL, he will have $58,000 more in nonguaranteed cash value at year 20*. But why make John decide which outcome is worth more to him when you can give him both?
With the 50/50 strategy ($500 per month into whole life and $500 into IUL), John can harness the market’s upside while protecting himself from its downside. At any point in time, the policy’s cash value will grow on a guaranteed basis. And, with whole life’s disability benefit rider, a portion of his retirement continues to grow even if John becomes disabled and is no longer funding the policy.
Benefits of solutions like this include:
• The guaranteed cash value growth whole life provides, regardless of interest rates or market conditions
• Participation in the potential upside returns that IUL provides, with protection from market losses
• Competitive growth in good or bad markets, high- or low-interest rate environments
• A true self-completing solution that, with whole life’s disability benefit rider, continues to grow even if they become disabled and are no longer funding the policy
• Accumulation-focused rather than death benefit-focused and designed to maximize the cash value in each policy while minimizing the death benefits to the degree they comply with the IRS MEC (Modified Endowment Contract) regulations to allow tax-free access to the policy’s cash value.
With the 50/50 strategy, your clients can enjoy the best of both worlds, gaining a versatile solution that helps overcome market volatility.
(Solution referenced a Pan-American Life Vista Life IUL, which provided an immediate death benefit of $100,000 that grows to $289,000 at the end of 20 years, and a Horizon Value WL solution, which provided an immediate death benefit of $100,833 that grows to $347,364 at the end of 20 years.)
* All projections based on an assumed 6% interest rate
Mark is the Regional Vice President (RVP), South Region at Mutual Trust Life Insurance Solutions, the US life insurance division for PanAmerican Life Insurance Group. He has 30 years of insurance experience serving in various sales roles. He has expertise in a variety of life insurance selling systems, especially those related to infinite banking. Creighton is a featured speaker at many industry events and has written numerous articles on sales, marketing and product application.
A very well-written 8 page, full color financial newsletter for financial consultants and consumers, produced by Liberty Publishing. The articles are consumer-oriented and present a wide variety of topics. Quantities are available with your custom imprint, including the RFC Key, for mailing to clients, prospects and professional consultants.
A 4 page color client financial newsletter that creates a strong impression, but less expensive that the Financial Insider.
https://www.libertyink.com Contact: Sarah Goss Ext. 144 (800) 722-7270 x 135 Sales@libertylink.com
$79.95 plus shipping and handling
Exam Study Guide In Stock Contact Membership Services
The MRFC Exam Study Guide is now available for those who wish to take the Master Registered Financial Consultant (MRFC®) Exam. Presented in a condensed outline format and designed for the professional in mind who has limited study time, the Study Guide addresses every task of the MRFC Blueprint Exam Content to help you focus on exam topics. These are tasks derived from the most current 2021 MRFC Job Task Analysis.
Features
300 pages
After topic questions for comprehension Easy to read, outline format Organized by Blueprint tasks
Vision Clarity of purpose and direction will trigger our service to current members and stimulate consistent growth by attracting new members.
Love Love is a matter of the heart. Our work matters and we are committed to serve our members and the public with a brand of love we call a Committed Benevolent Interest (CBI) in everyone. We are truly concerned about the outcomes for others and ourselves.
Servant Leadership is about service. We are committed to serve our members with servant leadership as we provide resources to help them achieve their career and business objectives.
Integrity Honesty, morality, and fairness are a bellwether of what we stand for and how we serve our members and affiliates.
Innovation In an ever-changing profession, we are committed to introducing new ideas and methods to disrupt the status quo and support financial professionals and their business.
Proactive In a profession of constant change, action is essential. We are constantly alert to changes and seek to become the catalyst for change and the opportunities they create.
Authentic We are who we say we are. We invite our members to be so as well. This vulnerability builds a bedrock of trust with our members and the public.
Relevant Relevance is essential to survival. We provide practical, thought leadership in an effort to make our membership relevant to practitioners and business owners.
