Compliment a Consultant
We would appreciate hearing from the clients of Registered Financial Consultants about their positive experiences. We know that our members are serving hundreds of thousands of families - helping them achieve financial security and acquiring economic peace of mind.
Please tell us about your positive experiences. We will not publish any of your comments without your express permission, so you can be as informal or detailed as you like. Please mention the advisor's name and city.
Submit a Compliment
The IARFC wishes to assist the public in becoming acquainted with our investigation and complaint procedures while encouraging our 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 sanction is warranted.
A charge against the conduct, actions or recommendations of a financial advisor is a matter that the IARFC takes seriously. Accordingly, if you feel that the Code of Ethics has been violated, you should not hesitate to begin the complaint procedure against an association member.
Because one of the functions of the IARFC is the evaluation of complaints, please be assured that your inquiry will be investigated vigorously and impartially.
Submit a Complaint
Ethics and Conduct Responsibilities
When authorized to use the RFC and Registered Financial Consultant certification marks the professional agrees to abide by the IARFC Code of Ethics and to comply with the philosophy and mission of International Association of Registered Financial Consultants.
A complaint filed against a designee must be considered very carefully since it could negatively affect a career, reputation and ability to earn a living. Thus, it takes more than a claim of misconduct to justify disciplinary action. Proof of misconduct must be established by a preponderance of the evidence.
An honest disagreement about how a matter should or should not have been handled would not normally constitute unethical conduct. An error in judgment is not necessarily unethical conduct. Registered Financial Consultants, as any other professionals, 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.
For instance, disagreements about the size of a fee do not necessarily constitute unethical conduct. Unexpected declines in security values or the length of time it may take to respond to a client with a completed plan do not necessarily constitute unethical conduct.
You may submit a complaint to the IARFC via U.S. mail, fax or online.
Mail: Please send the Complaint Form and attach any documents you deem appropriate to:
P.O. Box 506
Middletown, OH 45042-0506
Attention: Ethics Committee
Information Required: Your Complaint Form should be accompanied by important information surrounding the circumstances, including photocopies of relevant letters, contracts, agreements or other documents. The IARFC staff will request additional information and may request a personal interview if it appears necessary.
Please be aware that normal remedies under state and federal laws and regulations with applicable regulatory bodies are not satisfied by a complaint to the IARFC. The burden is normally on the complainant to pursue such remedies. However, the finding and actions of appropriate regulatory bodies will be given due consideration by the IARFC Ethics Committee.
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 clients plan or failed to deliver a purchase of insurance or investment.
The IARFC Ethics Committee generally processes grievance in the order in which they are filed and as quickly as the process will allow. We will notify you when you information has been received. Additionally, you will be notified when the matter has been concluded. The IARFC will inform you of any public discipline imposed.
Will this Process Involve Compensation?
There is no enforcement procedure for the IARFC to require that any member who has operated improperly compensate you for your loss of damages. You must pursue that issue through negotiation, arbitration or adjudication.
What Should You Not Expect?
You should not expect that grievance will be decided solely on the basis of your complaint, just as the matter will not necessarily be decided solely on the basis of the answer submitted by the advisor. The final decision must depend on the weight of all available information.
The IARFC disciplinary process cannot necessarily be expected to solve your original problems. You should not expect, as a result of your grievance to us, to receive monetary compensation. Disciplinary proceedings are restricted to the question of ethical conduct of IARFC members.
What Can You Expect?
The IARFC Board of Directors will act only to enforce its Code of Ethics and our interpretation of the professional services that the public can reasonably expect to receive from our members. Enforcement measures include: private censure, public letter of admonition, suspension of revocation of the right to use our professional designations necessarily constitute unethical conduct.