EDIT: IARFC and RFC designation making great progress!

Have you checked out the MRFC? It is accredited by the NCCA ! Also listed as one of the eight Accredited Designations on the FINRA web site!

@HARVEY BAILEY
Mr. H. Stephen Bailey - Chairman & CEO of IARFC:

Yes, I have. And the MRFC credential is one seriously worth pursuing. I may take the exam by the end of the year.

I have been a critic of the revised requirements for the RFC and RFA credential. (I've even been banished from the IARFC facebook page for quoting Solomon Huebner when others tried to create an "ALU" designation as a "CLU-lite" equivalent.)

The problem is that letters after your name have traditionally MEANT something - some kind of additional education above and beyond licensing requirements. The IARFC has "gutted" these by merely requiring either life insurance licensing or securities licensing.

How can I be affiliated with an organization/association that is willing to compromise what designations mean to the public?

The RFC USED to mean something. I remember the article over 10 years ago when it was announced that RFC was "approved in Nebraska". There was a lot of questions about the validity of various designations, and the RFC (at the time) passed the test (compared to the ALSO accredited CSA designation).

Now let's think about it: have the regulators changed their positioning? No.

Is the CSA designation approved? It's an accredited designation on FINRA's site... but the State of California has BANNED it.

Senior Designations

Here's the irony: The CSA requires FAR more coursework than the RFC designation does today... but the CSA is banned, and the RFC is approved.

The RFC and RFA designations cannot say that you have had any additional training or coursework... but the marketing brochures IMPLY exactly that.

IARFC Consumer Marketing Brochure, A103

The IARFC has a cognitive dissonance problem: Are you in the business of credentialing everyone who pays a fee? Or do you have a higher standard? Where is the higher standard on your "lower standard" designations?

As recently as April, 2018, the IARFC lowered it's requirements (again) for the RFA/RFC CE requirements as well as the experience requirement for the designation itself. The CE used to be 40 hours every year (easy to do), and now it's 30 every two years; and the experience requirement was 4 years... reduced to 3.

IARFC Revises CE Requirement for Financial Designations


I KNOW the IARFC wants to grow. The IARFC needs to grow and it's worth growing. The problem is in HOW to grow. The MRFC is a welcome addition... but it came at the EXPENSE of the criteria of your other (once distinguished) designations. You've watered them down... and for what? To attract more members at a lower level?

My proposal: You need to have SOME kind of requirement in order to obtain the RFC/RFA designations. Make it something that the applicant chooses: Perhaps a sales training course for their particular niche. Some way that shows that they have invested in themselves in order to better serve their clients. Maybe even completing ONE course of an advanced certification - such as CFP, CLU, or even LUTCF/FSCP. It doesn't have to be "planning" related, but it can be related to final expense agents, annuity agents, or even medicare supplement agents. Some kind of additional training and investing in themselves would go further for the credibility and validity of the RFC/RFA credentials. (Heck, for RFA - just be recommended by an existing RFC member - perhaps who are in an MDRT mentorship relationship?)

These are my thoughts for you.
 
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We are not a Seniors designation!

True, and there's no disputing that.
With one single test along with the work preformed in the Financial Service Industry.

That is a PERFECT solution for the RFC and I applaud that effort and look forward to that announcement!

And with RFA being a very "entry-level" designation, I'm pretty good with that direction. I like the notion of it being an "associate" or "apprentice" designation of the IARFC association.

I appreciate you letting us know the direction you're taking this and "shoring up" the loose ends and my concerns that I've had.

Thank you.
 
LOL. Get rid of anyone that questions what we are doing and why. :D

Good work DHK, it'll be interesting to see if anything comes of it :yes:

Well, thanks to THIS thread... it appears that new changes will come from it, and that's good! (Just my and this forum's small part for the industry.)
 
With one single test along with the work preformed in the Financial Service Industry. This program is being worked on by a University who has a lot of experience, in computer training.

I just had another thought for you: Have various "focus" tests for different disciplines and let the RFC candidate choose. This can help broaden the base for whom the IARFC can bestow the RFC designation. Perhaps exams on subject matter like:
- Medicare Supplement & Final Expense Life Insurance
- Life and disability insurance
- Indexed Life and Indexed Annuities
- Wealth management & assets under management
- Business owner planning & group insurance
- Retirement Planning
- Estate Planning

I'm sure you can come up with various other exam focus topics, but something like this could make it a far more versatile approach. Plus, these RFC credentials can be issued as "RFC with a focus on Medicare Supplement and Final Expense planning".

Those who would prefer a "major" in multiple areas... well, I think the MRFC would be more appealing to those applicants.

Just a thought and yes, you are free to use it.
 
I was glad to read this on the IARFC website by @HARVEY BAILEY

REGISTER

The Chaiman's Desk - Focus
Base of Operations As you read this, the IARFC Team is most likely packing and getting ready to move. We have put down permanent roots by purchasing a building close to the offices we have rented for the past three years. To me, it is important that our Team feels this commitment to stability. They have performed independently with me visiting 3 times a year from Charlotte, NC (my home base) and I want them to know they won’t be uprooted in the future should another chairman take charge. It gives us direction and an established base of operations.

That brings me to the future. This year has to, I strongly repeat has to, be dedicated to increasing the visibility and membership numbers of the Association. We have been focused on reorganizing, but now is the time to concentrate on improving the numbers which brings me to the following. We Have Recognition Issues. To help solve this problem, we are working on a better understanding between the IARFC and the Broker Dealers, the RIAs and the Insurance Representatives. We have to bring them into the Association through our offered designations — the RFA®, RFC®, and MRFC. The Association wants a good working relationship with all three groups to improve their understanding of the IARFC.

I am going to address the elephant in the room and answer the criticism I have heard that “it is too easy to obtain our designation”. In reality, we are not giving financial professionals a “pass” to get letters behind their names, rather, rewarding them for their experience, education, licenses and ethical behavior that have framed their careers for many years, even decades. If you have all of the above, yes applying for the designation is a rather straightforward process. But this is not to be confused with the fact that you have worked diligently all along to meet the requirements.

We know you have put in the hard work. We recognize it. Now the NCCA accepts our recognition as we offer the MRFC credential. Time to get our message heard front and center.
 
We have now gotten the MRFC accredidtated, reworked the other designations and moved into our new Home Office. We are working on getting our other designations accrediedited through Ansi-ISO. This will give us accrdidtation for our off shore Countries.So how are we doing ? I do know that it is a slow process ! But we are still working to make our designation for every fact of the Financial Services groups.

I updated the thread title. (I forgot that I could do that!)

For myself, I'm looking forward to taking the MRFC exam by the end of the year AND taking the RBC course you mentioned before. I hope that's still in progress?

Btw, whoever is in charge of the Facebook page... I'd like to be UNBLOCKED from there? My name is David Kinder.

Also, don't forget about the forum's Facebook page too! I haven't seen you post there in a few months!

Life Insurance Agent Discussion
 
We have completed the MRFC designation ! We have just completed the MRFC study guide ! It is a learning guide ! The MRFC is accredidated by the NCCA !Look us up in hte FINRA web site !
 
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