MRFC CE Requirements
It is the firm conviction of the MCB that the ongoing pursuit of continuing education by the professional financial consultant is critical in a social and economic environment that is ever-changing. The knowledge learned in the classroom in the pursuit of a professional credential will grow stale and even dangerous if it is not enhanced by a commitment to continued learning.
It is the responsibility of every credentialed MRFC to continue his or her professional education and to maintain appropriate records to substantiate this significant performance.
Each MRFC credential holder must complete 40 units of professional Continuing Education (CE) each calendar year.
- 2 units related to ethics and the ethical practices of a professional financial consultant.
- 38 units from one or more of the accepted subject topics.
CE credits may be earned by attending educational seminars offered through IARFC sponsored conventions or other programming recognized by the MCB, such as college academic courses.
The MCB and its designated staff reserve the right to audit recertification documentation and applications.
A PDF can be downloaded here - CE Record Keeping Form - MRFC
Each unit of continuing education is fifty (50) minutes of attendance or application.
With each annual renewal, the credential holder must assert that forty (40) units have been successfully completed. Certificants may request a waiver of the CE requirement, but such waiver is subject to review by the MCB. All requests for waivers must be accompanied by supporting documentation.
All subjects that relate to the development and provision of financial planning and counseling services are acceptable. Eligibility is not restricted to merely technical issues but also includes how the practitioner delivers service. This includes computers. Software, internet research, calculations, service, and office operations. All aspects of personal finance, cash flow, securities, investments, insurance, banking, budgeting, estate planning, business and advisory ethics, business administration, and the legal and psychological relationships with clients are acceptable.
Topic pre-approval is not required, however, all topics must directly relate to the professional work of a financial consultant.
Organization meetings or specific sales management sessions offered by an insurance or investment company that review product details, placement procedures, operational supervision, or performance are not acceptable.
Calendar Year Recording
Commencing with the first calendar year following receipt of the credential and continuing annually thereafter, each credential holder must meet the CE requirements. The MCB does not allow CE credits to be carried over to the next year.
The credential holder must maintain CE records for two (2) calendar years prior to the current year. After that, records may be discarded.
CE Audit Procedure
The MCB and/or MRFC staff will conduct random audits of credential holders for CE records and may do so upon challenge. During the audit, he or she will be requested to provide evidence of CE compliance that may include records, certificates, or other evidence that substantiates CE completion.