Tuesday, May 21

IARFC Gears Up for the 2020 National Financial Plan Competition

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The International Association of Registered Financial Consultants (IARFC) is getting ready for the 2020 National Financial Plan Competition (NFPC). They are looking for interested Educators, Sponsors and Individual Donors to participate in this national event that brings the experienced professional consultant in touch with the university student starting to navigate the Financial Services industry.

IARFC Vice Chairman, Nicholas J. Royer, MRFC

Participation in the Competition all centers around the case study. The IARFC develops a “fictional family” narrative from which the students will craft a financial plan. The narrative is full of numbers and scenarios that will be interpreted by the students and presented to a panel of judges. This year the IARFC looked to Michael Saltiel, MRFC of Saltiel Wealth Management for development.

“It was challenging and fun to come up with the narrative for the 2020 Competition,” related Saltiel. “I tried to include basic information along with a few twists to encourage the students to be creative. I look forward to seeing their results.”

Reviewing the narrative for 2020 will be the NFPC Committee comprised of IARFC Board Members Peter J. D’Arruda, MRFC, Rick B. Stanzione, RFC®, and Michelle K. Blair, RFC®. Other Committee responsibilities include reviewing the prior Competition and making decisions or changes for the event in 2020.

“One of our biggest changes from 2018 to 2019 was the inclusion of a “real” couple on the stage with the finalists,” explained Blair. “The students definitely preferred presenting to them as ‘clients’ vs just talking from a podium to a group of consultants. It made the experience more real world.”

In the near future, the IARFC will be sending out information to the Universities who have Financial Services Programs to start thinking about the 2020 event. This will follow with hard deadlines for registration and student rosters from the Professors. “Looking back on my experience in Nashville for the 2019 Finals, I found the entire experience an awesome learning opportunity and decidedly a lot of fun,” related Professor David Ragan, RFC® from University of North Texas whose student, Rebecca Boyle, won the Competition.

“I felt Rebecca gained invaluable knowledge from presenting her plan and networking with the experienced professionals.  I would encourage any Educator to consider competing as a worthwhile exercise.”

The IARFC also is looking for Corporate Sponsors and Individual Donors who play a major role in the success of the Competition.

“This is a perfect way for us to support the NextGen of financial professionals,” acknowledges Barry Dayley, MRFC from Money Concepts International, a 2019 Corporate Sponsor. “I regard these young students who compete as future financial consultants in the making. It is a cause we will again support in 2020.”

Specific details for Educators, Corporate Sponsors or Individual Donors can be obtained through webinars by the IARFC. Contact can be made with Susan Cappa, IARFC National Financial Plan Coordinator to schedule an informational session.

Next year, the Competition will be held during the 2020 Annual Conference in Cincinnati, OH. An exact time and venue will be determined at a later date.

For more information on the IARFC and the National Financial Plan Competition, visit https://www.iarfc.org/events/nfpc.

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