Update Ethics Approved Program….
The International Association of Registered Financial Consultants (IARFC) has recently approved over 350 members in the past three months in their new “Ethics Approved” program. This program is an effort towards increased transparency regarding the member’s professional background and their adherence to a Code of Ethics.
The IARFC Team is reviewing all membership renewals submitted to the Association and rewarding members for their long-term commitment to the IARFC Code of Ethics. They are checking FINRA records, state licensing records and even conducting an internet search of each member’s name. Reviewed history includes personal or business bankruptcies, compromised credit issues, any pending customer disputes, regulatory events and/or criminal misdemeanors or felonies.
Members need to have a clean record for the preceding five (5) years in order to qualify for the Ethics Approved Program. Members who meet these standards will receive an embossed seal stating they are “Ethics Approved” with the year of the review and is effective for two years.
“We feel that this additional check is our obligation to the public who needs assurance of the integrity of their financial professional,” explained Chairman H. Stephen Bailey. “The public is more educated than ever and needs assurance of the background of their financial professional and their adherence to a Code of Ethics.”
The IARFC, founded in 1984, is a non-profit credentialing organization formed to foster public confidence in the financial planning profession. Their professional designation – the Registered Financial Consultant (RFC®) is awarded to those consultants who can meet the high standards of education, experience and integrity that are required of all its members.
Vicki Caplinger in IARFC Membership Services, weighed in on the significance of the program and how the members can utilize their approved status. “Members receive Ethics Approved branding recognition in the form of digital logos, embossed seals and sample media releases. It is our hope that they utilize these tools to enhance consumer confidence when serving clients and prospects.”