IARFC members have a fiduciary responsibility to act in the best interest of their clients. These actions of IARFC members are subject to the IARFC Code of Ethics. The Code of Ethics defines strict guidelines on ethical behavior which are a cornerstone of interactions between the consultant and client.
IARFC members serve hundreds of thousands of families by helping them achieve financial security and acquiring economic peace of mind. The IARFC would appreciate hearing from the clients of its member about their positive experiences.
Compliments can be submitted and will not be published without express permission. Submissions may be informal and as detailed as needed. The consultant’s name and city of practice should be mentioned.
The IARFC wishes to assist the consumer in becoming acquainted with their investigation and complaint procedures while encouraging members to maintain high ethical standards. These procedures provide for a thorough review and a decision as to whether there has been a violation of the IARFC Code of Ethics and if internal sanctions are warranted.
A charge against the conduct, actions, or recommendations of a financial consultant is a matter that the IARFC takes seriously. Accordingly, if a consumer feels that the Code of Ethics has been violated, they should not hesitate to begin the complaint procedure against an Association member. Every inquiry will be investigated vigorously and impartially.
Ethics and Conduct Responsibilities
When authorized to use the Registered Financial Associate (RFA®), Registered Financial Consultant (RFC®) designations, or Master Registered Financial Consultant (MRFC®) credential, the professional consultant agrees to abide by the IARFC Code of Ethics and to comply with the philosophy and mission of International Association of Registered Financial Consultants.
An honest disagreement about how a matter should or should not have been handled.
An error in judgment - IARFC designees or credential holders, may not always give the perfect response to a given set of circumstances, especially when viewed years later based on subsequent events or market actions.
Disagreements about the size of a fee.
Declines in security values or the length of time it may take to respond to a client with a completed plan.
How Long Does it Take?
The length of time it will take to deal with any particular complaint is difficult to determine in advance. A grievance regarding the handling of a complex estate would take more time to investigate than a grievance that someone accepted a retainer fee and then failed to deliver the client's plan or failed to deliver a purchase of insurance or investment.
Will this Process Involve Compensation?
There is no enforcement procedure for the IARFC to require that any member who has operated improperly compensate the complainant for their loss of damages. That issue must be pursued through negotiation, arbitration, or adjudication.
What is the Basis for Final Decisions?
What Can You Expect?
The IARFC Ethics Committee will act only to enforce the IARFC Code of Ethics and their interpretation of the professional services that the public can reasonably expect to receive from their members. Enforcement measures include private censure, a public letter of admonition, and the suspension or revocation of the right to use the IARFC professional designations and credential.
IARFC Code of Ethics
Fax: 513 345-9479
P.O. Box 506
Middletown, OH 45042-0506
Attn: Ethics Committee