Last June, the Insurance portal reported that a Canadian delegation had approached theInternational Association of Registered Financial Consultants (IARFC) to create a section in Canada. At that time, IARFC had not revealed the identity of the members of this group.
August 11, Jim ruta et Chanchal (Sisi) Chakrabarti published a statement announcing that they co-directed the initiative to establish a Canadian section of the IARFC.
Mr. Ruta is a recognized speaker in persons insurance (notably by the Financial Hall of Fame and the Canadian Insurance Hall of Fame) and advisers coach. He is also a long -standing regular columnist for the Insurance Journal and the Coin des experts of Insurance portal. Mr. Chakrabarti is a member advisor of the Millionaire round table (MDRT, for million dollar roundable), as Court of the Table (COT), and managing partner of Advisory Money Strategies Inc.
Contacted by the insurance portal, Mr. Ruta indicates that he has been studying the idea of forming a section for a year and that he considers that “the time has come for Canada. It is an international non -political association of qualified advisers in the field of finance, the first mission of which is to help them to better serve their customers and the community. »»
In an interview, Mr. Ruta claims that the reaction has been positive so far. Several advisers, including some of the best in Canada, have expressed their interest. To constitute a section (chapter, In English) of the association, it takes at least 25 qualified advisers.
“We have received very encouraging comments about this initiative … and we think we can quickly bring together the first 25 members necessary for the creation of the section,” says Ruta. The Canadian section is said to be based in the Toronto region and would cover all of Canada, he adds.
The IARFC, based in Ohio, in the United States, is a non-profit organization founded in 1984. Its objective is to “promote public confidence towards the profession of financial services, help advisers to discuss planning techniques and recognize practitioners truly engaged in ethics and continuing education,” said organization on its website. Currently, six international sections are identified.
IARFC delivers its own accreditations: Registered Financial Consultant (RFC), Registered Financial Associate (RFA) for less experienced agents and Master Registered Financial Consultant (MRFC).
To obtain the title of RFC, the advisor must have followed one of the training options offered, have at least three years of experience as a full -time professional, hold a permit, respect the IARFC code of ethics and complete 40 hours of training every two years. To keep the title MRFC, agents and advisers must follow 40 hours of training each year.
Mr. Ruta underlines that Canadian advisers can already request their membership at IARFC and, if they are eligible, obtain the RFC designation. “These first members will be the founding members” of the section that he and Mr. Chakrabarti wish to create.
He specifies that some Canadian advisers already have IARFC accreditation and are therefore members of the association. But this initiative represents the pRemier effort to establish a section in Canada, notes Mr. Ruta.
No competition with advocis
Mr. Ruta wishes to emphasize that the creation of a Canadian section of IARFC is not intended to compete with Advocathe Association of Financial Advisers of Canada, which is currently looking to recruit new members after a difficult period.
“We are not in competition with advocis, because the missions are very different. And we are not trying to ride their members either. I remain a member of advocates and I encourage everyone to do the same, ”says Ruta.
Why create a new association?
In an interview with the Insurance portalMr. Ruta explains that he appreciates the focusing of IARFC on improving the skills of advisers in the financial field. The organization does not lobby, he specifies. “It is non -political and only aims to help advisers improve. »»
All potential members are evaluated before being accepted, which guarantees a high level of requirement.
Ruta adds that he is believing that there are many “marginalized advisers” in Canada who are not members of any association. He hopes that by creating a section, IARFC will be able to offer them a home.
He also insists that IARFC strongly recognizes the importance of life insurance as the basis of financial planning.
If a Canadian section is born, Mr. Ruta would like to hold monthly meetings, probably virtual, allowing members to discuss subjects intended to make them better and more efficient. “We want to transform the means into exceptional,” he says.
