The International Association of Registered Financial Consultants (IARFC®) is now inviting professors to register their students for the 2023 IARFC National Financial Plan Competition (NFPC). This Competition involves undergraduate teams from financial services curriculums to produce a financial plan for judging based on a fictional family case narrative.
For each competition, the narrative consists of numbers and family history that will be interpreted by the students into a comprehensive financial plan which is presented to a panel of judges.
Bradley K. Maples Sr, MRFC®, the IARFC US Chapter Board President, feels this is a creative way for students to put their learning into practice. “The Competition challenges students by having them analyze the numbers and create a financial plan just as we do in the real world,” explains Maples. “Too, we include an emotional component in the plan so the students get used to dealing with the human factors we face. It’s not just presenting the facts, it’s paying attention to the family as a whole and listening to their needs. That insight does not come from a text book.”
This year Barry Dayley, MRFC®, the representative of Money Concepts International, will prepare the case narrative.
For those professors who wish to register their students, please visit www.iarfc.org/events/nfpc for specific Details and Rules. The Participation Agreement must be received by September 24 for student/teams to compete. Judging will be carried out through multiple phases with 3 teams eventually meeting in a Finals round in a yet-to-be-determined venue.
“I encourage professors to register their teams as soon as possible,” noted Vicki Caplinger, IARFC NFPC Coordinator. “The Finals are my favorite part where we get to see the student teams compete in person. I am proud of the IARFC for facilitating this hands-on experience for the next generation of Financial Consultants and look forward to working with 2023 competitors.”
The IARFC also is looking for Corporate Sponsors and Individual Donors to play a major role in the success of the 2023 Competition. “I have enjoyed our firm’s commitment to the NFPC,” relates Robert Laraia, RFC® and whose firm NorthStar Wealth Partners, has been a 2021 and 2022 Corporate Sponsor. “It’s part of a give-back plan to a profession that has brought me great success and personal satisfaction. I want the students to understand how they can truly affect the financial security of their clients by helping them plan for the future.”
Complete information can be found by visiting www.iarfc.org/events/nfpc or by emailing email@example.com.