This designation is awarded to committed financial professionals or advisors who have exhibited improving their market reach. Ideally, they also meet high standards and strict requirements within the financial services industry.
This designation also denotes a higher level of professionalism and dedication to serving their clients. Ideally, a financial professional shows the designation to clients as evidence of their commitment to continuing education.
The International Association of Registered Financial Consultants (IARFC) created the MRFC designation. The National Commission for Certifying Agencies (NCCA) awards it.
The Master Registered Financial Consultant (MRFC) designation has a number of prerequisites. Candidates must have four years of professional experience within the financial services industry. That experience can include financial services. investment planning/securities, insurance planning, retirement planning, tax preparation, and estate planning.
They also must have all required licenses to practice in the financial planning profession. That experience will be verified by checking state licensing and/or Financial Industry Regulatory Authority licensing history.
As an MRFC, consultants can relay to prospects and clients that they have met the qualification in the areas of experience, education, licensing, ethical conduct, and continuing education. Their knowledge has been tested and confirmed by passing the MRFC exam and that they are committed to fiduciary responsibilities and service to clients. Continuing education requirements are the strictest in the industry – thus branding the MRFC as a lifelong learner.
The question that consumers have is, “Why should I trust you?” “What makes you different?” Becoming an accredited MRFC sends a strong message in this competitive market. The term “Master” gives implication to a more broad experience in all aspects of financial responsibilities owed to clients and are part of the few in the industry who brand platinum assurance for integrity.
It is one thing to hold oneself out as meeting the minimum requirement to practice in the field of personal finance with a license. However, it is the whole next level to represent the profession as a “Board Certified Master Practitioner.” It is only one of 8 accredited credentials listed on FINRA.
