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Vol. 7 No. 12 • December 2006 Official IARFC Publication www.IARFC.org

Serving Financial Advisors Worldwide

IARFC Member Benefits and Professional ToolsPublications and Printed MaterialsThe Register – monthly membership magazine.

Journal of Personal Finance – our quarterly academic journal.

Financial Insider – 8 page client financial newsletter.

20/20 Newsletter – 4 page color client financial newsletter.

Press Releases – to announce receipt of RFCdesignation.

Probe newsletter – timely 4 pagenewsletter from Kissling org.

Research Press – by Vernon Jacobs,CLU, CPA, an authority on insuranceand tax planning.

Financial Services Online (FSO) –Internet publications: Online

Financial Services Journal Online –monthly publication, eight articles.

Financial E-News – Bi-weekly e-mail of about financial services developments.

RFC Consumer folder – 4 page full colorbrochure about RFC and advisor services.

RFC Small flyer – 3 panel full colorbrochure about RFC® and advisor services.

RFC flyer – two color brochureemphasizing ethics.

RFC Gold Foil Labels – add a touch of classto your envelopes and financial plans.

Business Source – monthly reviews ofimportant business and financial books; $32 yearly.www.thebusinesssource.com/subscribeiarfc1.htm

Educational Events and Practice ManagementFinancial Advisors Forum – three-day high level conference forfinancial practitioners. May 15-17, 2007, Bally’s Las Vegas.

Education Cruise/Conferences – CE-at-Sea. Depart fromVancouver, and journey to Anchorage, Alaska, August 17-24, 2007.

Website Partnership – Financial Visions helps you build a full-featured advisor website with NASD approved content.

Advisor Verification – confirmation at IARFC.org of education,designation, operations, services, products, photo and contact info.

Sponsor Association – access to National Heritage Foundation, adonor-advised/founder-involved charitable entity.

Wealth Management – Courses for advisors wishing to serveaffluent families — acquire the C3DWP designation.

Financial Calculators – online analytical, presentation andeducation tools for IARFC members, located on the IARFC website.

Professional Recognition ItemsYour Member Profile – IARFC.org has a very sophisticated profile,and currently the best, of all those in the financial services field.

The RFC® Certificate – Handsome 16” x 20” parchment diploma-type document designed for framing and display.

RFC® Confirmation Notice – A smallerrecognition notice for use in a folder orbinder 8.5” x 11”.

Formal Announcements – 4” x 5” formalcards proclaiming your RFC® conferment.

Professional Insignia – Gold RFC® orsilver RFA lapel pin; Men’s tie chain andkey; Ladies gold ring broach; Unisex goldRFC® cufflinks.

Financial Plan Binders – attractivepadded dark blue binders with 3slanted D rings.

Colorful Index Tab sets – for theassembly of quality financial plans.

Comprehensive Sample Plans – Fullplans including assembly andpresentation manual, preparedusing the Plan Builder software,supplemented by materials fromPractice Builder.

Client Appreciation – specialtydocument wallets and folders formemorable presentations.

Personal Note Cards – with goldRFC® Key on front for use with clients and prospects.

Document Filing Systems that will create natural cross-sellingdiscussions, by Boxes by Pandora.

IARFC Logos – for business cards, website and stationery.

Financial SoftwareIPS AdvisorPro software – Investment Policy Statements for youradvisory clients in accordance with RIA requirements, authored byNorm Boone & Linda Lubitz.

Practice Builder Financial software – Client RelationshipManagement (CRM) customized for the needs of financialprofessionals. Use technology to differentiate yourself, tocommunicate more often and maintain “Top of Mind Awareness.”

Plan Builder Financial software – for sophisticated,comprehensive and modular financial plans; more than 80financial variables. Results are graphically displayed. A planningtool to motivate your clients to take action Now!

Client Builder Financial – a presentation system in PowerPoint toclose the fee-based planning engagement, with full script andbackup letters, agendas and forms in Microsoft Word.

The Register • December 2006 Page 1

The Register is published monthly by the International Association of Registered Financial Consultants ©2006. It includes articles and advice on technical subjects,economic events, regulatory actions and practice management. The IARFC makes noclaim as to accuracy and does not guarantee or endorse any product or service that isadvertised or featured. Articles, comments and letters are welcomed by e-mail to: Wendy M. Kennedy, Editorial Coordinator, [email protected] SSN 1556-4045 POSTMASTER: Send address changes to, P.O. Box 42506, Middletown, Ohio 45042-0506

Financial Planning Building2507 North Verity Parkway

P.O. Box 42506Middletown, OH 45042-0506

800 532 9060 • Fax 513 424 5752www.IARFC.org

BOARD OF DIRECTORS

Edwin P. Morrow, Chairman & CEOCLU, ChFC, CFP®, CEP, RFC®

[email protected]

Judith Fisette-Losz, Executive [email protected]

Lester W. AndersonMBA, RFC®

[email protected]

H. Stephen Bailey, PresidentLUTCF, CEBA, CEP, CSA, RFC®

[email protected]

Jeffrey ChiewDBA, CLU, ChFC, CFP®, RFC®

[email protected]

Vernon D. GwynneCFP®, RFC®

[email protected]

Derek D. KlockMBA, RFC®

[email protected]

Edward J. LedfordCLU, RFC®

[email protected]

Constance O. LuttrellRFC®

[email protected]

Ruth LyttonMS, Ph.D., RFC®

[email protected]

James McCarty, SecretaryCLU, RHU, LUTCF, RFC®

[email protected]

Burnett Marus, TreasurerRFC®

[email protected]

Rosilyn H. OvertonMS, CFP®, RFC®

[email protected]

Ruben RuizChFC, CLU, MSFS, CSA, RFC®

[email protected]

Michael ZmistowskiRFC®

[email protected]_________________________________

Wendy M. Kennedy, Editorial [email protected]

Stephanie Langster, Administrative [email protected]

in this issue

2 The 2007 IARFC Calendar of Events

3 The Francis Family The Bermuda Financial Triangle

5 First RFC Class to be Launched Client Acquisition and Engagement

6 From the Chairman’s Desk A Scorecard on IARFC Progress in 2006by Ed Morrow

7 Financial Plan Competition Launched

8 In 2007, Keep Changing to Mirror the LTCI Market Place and Prospectsby Wilma Anderson

9 Taiwan RFC Growth

10 Do You Really Know Where Your E-mails Go? by Ed Morrow

11 Do You Say “Thanks” Often Enough? Use the RFC Note Cards to Enhance Your Image

12 Registered Education Planner (REP) A Window of Service Opportunities

13 Compliance-Friendly MarketingA Mom’s Letter to Her Children by Katherine Vessenes

16 Reflections from Southern Californiaby Ed Morrow and Mehdi Fakharzadeh

18 The New RMA — Registered Mortgage Advisorby Randy Luebke

21 Pitch, Polish or PersonalityImproving Your Phone Impactby Frances Scott

22 Life Insurance in Retirement PlanningA New Regulatory Environment for Life Insurance?by Ben G. Baldwin

25 Financial Advisors Forum — Las Vegas May, 2007

31 Get Your CE-at-Sea — Alaska Cruise Conference 2007

The Register • December 2006

Register LettersWe welcome your comments, suggestions and ideas.Please direct correspondence to: [email protected] may be edited for length and clarity.

INTERNATIONALIARFC COORDINATORS

Jeffrey ChiewAsia Chair

DBA, CLU, ChFC, CFP®, RFC®

[email protected]

Liang Tien LungChina Development Organization (IMM)

RFC®

Ralph LiewPhilippines Chair

RFC®

[email protected] Balmori

Executive [email protected]

Jerry TanSingapore Chair

CIAM, CMFA, RFC®

[email protected]

Zhu Xu LongChina Chair, Shanghai

RFC®

[email protected]

Samuel W. K. Yung, MHChair, Hong Kong and Macao

CFP®, MFP, FChFP, CMFA, CIAM, RFC®

[email protected]. Teresa So

Advisor, Hong Kong and MacaoPhD, MFP, FChFP, CMFA, CIAM, RFC®

[email protected] Wan

RFC®

[email protected]

Ng Jyi WeiMalaysia Chair

ChFC, CFP®, RFC®

[email protected]

Aidil Akbar Madjid Indonesia Chair

MBA, RFC®

[email protected] Soemarto

MA, RFC®

[email protected]

Jeffrey ChenTaiwan Chair

RFC®

[email protected]

Preecha SwasdpeeraThailand Chair

MPA, MM, RFC®

[email protected]

Demetre KatsabekisGreece Chair

MBA, Ph.D, RFC®

[email protected]

The IARFC Register is accepting articles of 300 to 1,500 words on planning and practice management topics. Submit via e-mail, along with an

electronic photo and short bio of less than 100 words to: [email protected]

Calendar of Events:

First RFC Course – Part ICovering Client Acquisition and Client Engagement January 16-17, 2007, Middletown, OH

RFC – Indonesia GraduationsDecember 7, 2006, Jakarta December 8, 2006, Surabaya

Organizational Launch MeetingsFebruary 19–23, 2007, AustraliaFebruary 24-28, 2007, New Zealand

MarketShare Leadership ConventionMarch 6-9, 2007, Las Vegas, NV

Financial ExpoMarch 22, 2007, Tampa, FL

APfinSA ConferenceApril 13-15, 2007, Taipei, Taiwan

Financial Advisors ForumMay 15-17, 2007, Las Vegas, NV

MDRT Annual MeetingJune 10-13, 2007, Denver, CO

International Dragon AwardsAugust 11-13, 2007, Xiamen, China

IARFC Cruise/Conference – AlaskaAugust 17-24, 2007Vancouver, BC to Anchorage, AK

RFC Forum – ChinaSeptember, 2007, Dalian, China

RFC Forum – MalaysiaSeptember, 2007, Kuala Lumpur

Do you refer advisors for IARFCmembership? You can do this easily bycalling in or mailing names to the IARFCstaff. We will follow up!

Did you attend the 2006 Forum? Youcan register now for the 2007 Forum inLas Vegas — a great program in awonderful location.

Did you Get Your CE at Sea? Register forthe cruise on the Celebrity Summit toAlaska. Make your spouse happy!

Would you like to assist us? Help us witharticles, help at one of our, or teach theRFC courses when we roll them out nextyear. You can serve on an IARFCcommittee, recruit sponsors, be an eventspeaker or serve as a board member.

Call now to Get Active: 800 532 9060or e-mail: [email protected]

Get Involved: We welcome thesubmission of articles from IARFCpractitioners. This is a great way tocontribute to the profession.

Professional Articles: The Journalof Personal Finance is seekingarticles by practitioners that maydeal with the application offinancial planning techniques,marketing and practicemanagement. These are expectedto be very high level papers orarticles.

Publicity Opportunities: Naturally,we encourage published authors toadvise both their clients and themedia of their being published bysending a press release.

Contact Dr. Ruth LyttonE-mail: [email protected]: 540 231 6678

Call for Papers

Bermuda is an insurance and financialcenter, catering to institutions on a world-wide basis. But who serves the needs ofthe citizens and ex-patriot employees ofthis island nation only 650 miles off thecoast of North Carolina?

Unless you have visited Bermudapersonally (as well you should) you may notbe aware that it is not one island, but 138islands, many quite tiny. The six majorislands are bridged together, so thebusiness or tourist visitor tends to think ofit as a single island with beautiful whiteand pink sand beaches, wooded cliffs,calm bays and a coastline dotted by gailycolored houses and white roofs gleaming inthe bright sun. Bermuda is part of theBritish Commonwealth, but it is governedas a separate nation, with its own laws,elections, parliament and court system,serving the population of 65,000 residents.

The economy of Bermuda is tied moreclosely to the U.S. than to Britain, and theBermuda dollar is pegged to the U.S. dollar,though it is backed more solidly by goldreserves. The major industries areoffshore company registrations, insuranceand investments. There is not muchagriculture and no manufacturing. TheIsland has almost 100% employment rateand a 100% literacy rate. It is a great placeto visit, and an even finer place to live.

The Francis’ family history in Bermudagoes back several hundred years, and thefamily members are known to nearly allthe locals, having been quite involved inthe recent developments of the country.We caught up with the busy Arliss Francis,CLU, RFC® at the IARFC Cruise CE at SeaConference, where he and his wife, Arian,were relaxing on their tenth financialadvisor’s cruise.

What was your background beforeentering financial services?

I attended Goldsmith College, LondonUniversity, in the U.K. where I majored ingeography and received a TeachersCertificate from the Institute of Education.After my graduation in 1957, I returned toBermuda to teach geography and headthe physical education program at theCentral School.

Did you have a background in athletics?

I was actually a champion sprinter forBermuda when I was young. While

attending university Iexcelled in track andfield, and representedthe Amateur AthleticAssociation ofEngland in theUniversity Games.Track gave me anopportunity to travel,which is always a great experience.

Are you still athletic?

Well, I have played alot of golf, which isvery popular here in Bermuda. Ourcourses, which feature the famous “Bermuda grass” are playablefor the full year. But lately my involvementin athletics is limited to cheering on my10-year old granddaughter, Kyla Bolden,who is the 800-meter champion on theisland in her age group. For the last twoyears Kyla has competed and won against the best of U.S and Jamaica in the AAU National Club Championships,held at Disney’s Wide World of SportsComplex in Florida.

Did you enjoy teaching?

Yes, developing the minds and bodies ofthe kids was wonderful. I really enjoyedthe classroom experience, althougheventually I became disappointed with theadministrative bureaucracy of the schoolsystem. The structure here is not muchdifferent than the structure in the States.Plus, I found that advancement andcompensation were limited by the system.

How did you migrate from teaching into insurance?

I started selling life insurance part-timewith the highly respected Walter RobertsAgency, representing Empire LifeInsurance Company, and soon my part -time commissions were exceeding myteaching salary. When Mr. Robertsdecided to go into the hotel business, Ipurchased the agency from him, only tolater discover that Empire was planning tocease operations in Bermuda.

Shortly thereafter I started to representthe Bermuda Fire & Marine InsuranceCompany for life insurance. When thatfirm was bought out by the RoyalInsurance group, I started looking around again, and eventually formed

Diamond Company Limited as anindependent agency. I realized there wasa need to provide a continuity of identitythat was independent of the insurancecompanies represented.

Where are your offices?

Back in 1978 we leased second-flooroffices in the Outerbridge Building, which is on the main boulevard (anextension of Front Street), near the edge of the City of Hamilton. After nearlythirty years we’re still in the samelocation, and from my office window I can look out across Hamilton harbour and watch the cruise ships docking andletting off the tourists.

The commerce center of the city isactually quite small, so it is easy forclients to drop by, or for me to meet themfor lunch or dinner in town. The HamiltonPrincess, one of the Island’s premierhotels, is just half a block from our offices,and two blocks in the other direction you’ll find a selection of upscale shopsand fine restaurants.

How did you build your organization?

Over the years I watched a number ofagencies expand and contract as agentsstruggled to earn a consistent living. Irealized what was lacking, and what theagents needed: a good company torepresent, an opportunity to operate withmaximum independence, solid trainingand of course, motivation.

As a result of other changes, I signed onwith Equitable Life of Canada, whichoffered a full suite of life insuranceproducts suitable for our market. Policieswere issued in Bermuda currency (which

The Francis Family The Bermuda Financial Triangle


continued on page 4

continued from page 3 The Francis Family

is pegged in value to the US dollar), andalso in Canadian dollars. Gradually theoperation grew, and at one point we hadfive MDRT qualifiers within DiamondCompany Limited. We’ve since reducedour office staff somewhat, and my sonAntony now acts as the principal producerand office manager.

Have you been involved professionally?

I started off with the Life UnderwritersAssociation Training Course (LUATC), atwo-year course patterned after the LUTCFin the States, but taught by Canadians.Then, I took the Chartered LifeUnderwriter educational curriculum, andwas the first native of Bermuda to holdthe CLU designation.

I qualified for the Million Dollar RoundTable in 1975 and have attended theannual meetings nearly every year,generally carrying the Bermuda flag in theopening ceremony. At one of thosemeetings I met Ed Morrow, who asked meto join him in pioneering an organizationin financial services — ConfidentialPlanning Services (CPS).

I served on the CPS Board of Directors fortwelve years, and we were instrumental inhelping many prominent individuals makethe transition from life insurance tofinancial planning. Primarily, CPSdeveloped training courses and

Antony Francis, RFC®, on right working with a client

operational manuals on how to run afinancial planning operation.

In Bermuda I served two terms asPresident of the Life UnderwritersAssociation, now named the BermudaAssociation of Insurance and FinancialAdvisors — BAIFA. My son, Antony, hasalso served as president for two terms,and we take an active interest inpromoting good professional conduct on the Island.

While Bermuda is a small nation, it is verycosmopolitan. Most of us study abroad,and then return home where the economyis strong, property values are solid andthe society is very church-oriented. Wordtravels very fast. A great reputation takesa long time to build — but it can be swiftlydestroyed by a moment of carelessness,poor service or self-interest.

We have enjoyed watching the recentgrowth of the IARFC, and look forward tojoining other financial advisors at theForum meetings and Cruise Conferences.We frequently bring our friends and familyto join us on the cruises, and I suggestthat other RFCs consider doing that.Cruises are a great opportunity to bondwith clients and new friends. Theorganization is really moving forward,filling an international vacuum in the areaof training financial advisors with practicemanagement and marketing techniques.

Did you become involved in otheractivities in Bermuda?

During my time as a teacher, and early onin my insurance career, I was very activein the Jaycees International, and I wasfortunate to be elected a Senator and lifemember. Participating actively in theJaycees gave me an opportunity to meetother business owners and top executivesin Bermuda and around the world.

I served for several years on theInsurance Advisory Committee, anorganization that assists the BermudaDepartment of Insurance in promotinggood conduct and effective licensing ofagents and companies. I still serve on thecountry’s Hospital Insurance Committee,which is somewhat analogous to the U.S.Social Security and Medicare system.

I was pleased to serve for 12 years on theboard of the Bermuda Commercial Bankand Trust Company, the International TrustCompany of Bermuda, and then later withthe Winchester Global Trust Company.This lead to my connection with OlympiaCapital (BDA) Ltd., a global investmentmanagement company headed up byOskar Lewnowski.

How did your son, Antony, becomeinvolved in business with you?

Antony started out by attending theSchool of Insurance at Howard Universityin Washington, D.C. and interning in theUS with Prudential Insurance. Aftergraduation, he returned to Bermuda,where he became involved with Diamond Company Limited, primarilyadministering the policy service for themany clients who had purchased propertyand casualty insurance over the years.Over time his interest and involvementprogressed to include life insurance andfinancial services.

Now Antony is involved in every aspect ofDiamond Company Limited; selling moreinsurance as well as mastering thefinancial planning areas. On a personallevel, my son is very active in Martial Arts,particularly Thai Chi, and Antony alsotakes time out to manage the parish’ssoccer team.

What about the rest of your family?

We’ve always resided fairly close to oneanother. My father was a small landdeveloper and builder, and now Antony

Page 4 The Register • December 2006

continued on page 5

continued from page 4 The Francis Family

lives right at the end of our street, CottageHill West, in a home with a magnificentview of Harrington Sound. Close by is mybrother, William, who served as seniormagistrate for many years, and my sister,Rebecca who lives right next door

What about your daughter, Antoinette?

Antoinette attended York University inToronto, where she received a MBA andstudied accounting. She received herChartered Accountant designation andworked with one of the major accountingfirms in Canada.

While practicing accountancy, Antoinettemet her husband, David Bolden, who isfrom Toronto. David had a strong interestin financial planning and securities, andafter their marriage, the couple returnedto Bermuda, where David joined DiamondCompany Limited.

But it was the investment side of thingsthat really piqued their interest, and in1992 David and Antoinette formedEmerald Financial Limited, a full servicesecurities firm based in Bermuda. They’vealso created Directrade, a discountbrokerage firm, through which offshoreinvestors can trade securities online.

As part of their commitment to investoreducation, both David and Antoinettehave penned a number of financial

articles, and even producedand hosted a popular local TVshow, Money Talks. They alsomanage their own line ofinvestment funds, and haverecently begun to expandEmerald’s services throughoutTrinidad and the Caribbean.

David and Antoinette are greatparents, and have blessedArian and me with two lovelygrandchildren; Kyla, who is the runner and plays tennis,and Cameron, who is into all sorts of local athleticactivities, including soccer and tennis. Both kids havewon several triathlons, do wellin school and continue tomake us proud.

Where do you see yourfuture/career headed now?

Well, Arian and I continue toenjoy international travel and Istill play a bit of golf. I takegreat pleasure doing financial

planning for our established clients, andhelping them make the transition fromworking careers to retirement.

Personally I’ve never had the samefascination as Antoinette about the stock market, so we refer all our clients to Emerald Financial Limited fortheir investments.

We still have a great relationship withEquitable Life, and we are now handlingthe planning and the life and propertyinsurance needs of our clients. I’m proudthat all four of us are Registered FinancialConsultants, and we enjoy watching theorganization grow.

When financial advisors come to Bermudafor vacation, or when another FinancialCruise/Conference selects Bermuda asthe destination, we enjoy meeting up withall our friends. So I guess all I can say toall the readers of the Register is, “Comeon down…..”

Arliss, Antony and Antoinette Francisreside and work in Hamilton, Bermuda. Arliss and Antony are at Diamond Company Limited; you can contact them at: 441 295 4809, e-mail [email protected]. Antoinette and David Bolden are at EmeraldFinancial Group www.Emerald.bm orphone 441 292 3235


Antoinette F. Bolden, RFC®, and David T. Bolden, RFC®

As readers of the Register are aware, theIARFC is in the process of developing anew five-part curriculum. This focus onthe process of financial planning, ratherthan academic topics and exams.Because prospecting and marketing aretopics of major concern to financialadvisors, reported to be the reason whymany new entrants fail, the first coursewill concentrate on that critical element ofthe practice. The five courses are:

The Client EngagementGathering InformationProblem IdentificationDeveloping RecommendationsImplementation & Monitoring

Part 1 students will receive an excellenttext and workbook on Client Acquisition byI. David Cohen, RFC®, CLU, ChFC originallypublished as Prospect or Perish. In orderto close the client engagement of thefinancial advisor’s services on a fee-basisthe first course will also include ClientBuilder Financial — a PowerPointpresentation of the need for a financialplan, an explanation of the PlanningProcess, a Suggested Fee Schedule, aClient Satisfaction Agreement and anEngagement Agreement.Initial Class Scheduled. The first coursewill be offered in Middletown on January16 and 17 (Tuesday and Wednesday) andtwenty persons are invited to attend.Course Fee Waived. The fee of $1,095will be waived — just for this first class.The attendees will be asked to completean extended evaluation and suggestionform to help guide future classes.

Who Should Attend?Financial Advisors – a credentialed personwho wishes to strengthen their abilities.Advisor Staff – A Client Service Repre-sentative, personal assistant or para-planner who works closely with a advisor.Financial Manager – who supervises orrecruits persons in financial services whowill function as an advisor or consultant.Home Office – a manager or trainer of alife insurance company or broker/dealerwho has direct contact with field persons.Life Agent or Registered Representative —who wants to market as a financialadvisor rather than as a sales person.

How to RegisterCall, e-mail or fax the IARFC and requestthe Registration Form. While the coursefee is waived, you will be responsible foryour own transportation and lodging.

Phone: 800 532 9060E-mail: [email protected]: 513 424 5752

RFC Part I Class

Our association is finishing the year with a mixed scorecard – somewhat like a trackmeet where the team has done well in some events, and not so well in others. Let’slook at the results as we near the end of 2006.

Financial Advisor Forum. The attendees all rated the event a solid B. In format, wegot an A because the speakers were great, the old Manchester Inn did a fine job andeveryone enjoyed the reception and the Dunton dinner. But we rated a C- forattendance. It was a real shame, since some of the speakers were truly unique –like Mehdi Fakharzadeh, Norm Levine and Charlie “Tremendous” Jones. Greatbreakout speakers also. For those who attended, an unforgettable event!

Cruise/Conference. Just completed, from New York City harbor to the provinces ofnortheastern Canada. The weather was beautiful, the seas calm, the foliage juststarting to turn and the crew did their best to fatten us all. The program was wellreceived, and for the first time we delivered all the manuscripts on a CD-Rom.

Publications. The “sprint” event: our academic Journal of Personal Finance, editedby the tireless Dr. John Grable. Clearly an A+. And likely to be a repeat winnerunder the new editorship of Dr. Ruth Lytton. Fine articles from academia and somenice ones from the membership. Dr. Ruth needs more from the members next year.

The “distance” event: The Register magazine, probably rates an A- score, but clearlyfinishing the year strongly. The publication grew in size, added more color, and hasincluded some great articles. The Register Editor is incorporating more designsophistication, and our printers, SunGraphics, have held the costs down. Lots ofletters from readers tell us that the publication is being well read. What we clearlyneed next year are more articles from the members — and some advertising.

Cost Control — publication mailings. Here we must give the United States PostalService a clear grade of F — Failure! We applied November 2005 for a periodicalmailing permit to reduce costs substantially. USPS bounced our application betweenMansfield, Akron, Toledo, New York City, Cincinnati and Middletown. It was pass thebuck — our buck, your buck! We circled the one year mark with no progress. Nowwe are nearing the 13th month anniversary and no savings. (We are mailing copiesof this to the postmasters in the faint hope that shame will get some results.)

Website — www.IARFC.org. Mixed scores. The Financial Advisor Profiles are well-liked and clearly the best in financial services. However, many members have notupgraded their own profile and uploaded their photo, although more are gettingaround to it. On the other hand, the book store isn’t in operation and we are stilltrying to get a cleaner look and a more consistent system of uploading files. A clearlow score for our failure to add online CE programs featuring the wealth of talentwithin the association membership. Lots of room for improvement.

International Operations. Resounding firsts to our stars — the organizers in each of the countries: Liang Tien Lung, Jeffrey Chiew, Ralph Liew, Adil Madjid,Preecha Swadspeera, Samuel Yung and Teresa So, Allan Wan, Jerry Tan andDemetre Katsabekis. In each country there are more players on the team who alldeserve ribbons.

Domestic Growth. We are doing well in membership growth, especially since manyorganizations are losing members. A very reassuring note is that most all domesticmembers are coming as referrals – rather than from advertising or other recruiting.

Financial. We aren’t rolling in the dough, but with strong attendance (membershipgrowth) we are getting stronger. We keep expanding the member benefits andimproving the publications — with no debt.

Now, Score Yourself. Have you referred members to the IARFC, submitted articles,attended a meeting, or offered to help at the Forum? Think about 2007….

From theChairman’s Desk...


YOUR MOST IMPORTANTNEW YEAR’S RESOLUTION…

Get a Web Site For Your Business!

Do-not-call lists, do-not-email legislationand increasingly web-savvy customersmake the web a “must have” marketingtool for your practice. Gain more referrals,close more sales, and enhance yourprofessional image. Make 2007 your“Year of the Web.”

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Are you considering changes to yourmarketing plan? Would you like to seebetter results? If so, you owe it to yourselfto evaluate the ease and effectiveness ofClient Relationship Management.

To check out your IARFC member discount benefit

Call 800 666 1656E-mail: [email protected]

Visit: www.FinancialSoftware.com

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SPONSORSHIP: The Plan Competition willhave a corporate sponsor, who will beinvolved in presentation of the awards tothe winning students. An officer will bepleased to announce the participation oftheir firm.

We believe that by emphasis on thewritten Plan and its presentation before a discriminating audience of advisors, the quality of financial plans at theeducational institutions will be improved.

This will be of long term benefit to the academic programs and to thefinancial advisor community. The IARFC is pleased to launch this important andtimely effort to uplift the financialplanning profession.

RECOGNITION: Each school will receive a walnut plaque recognizing thesubmission of a winning plan and a grant to offset the costs of attending the Forum. Each student will receive a parchment certificate and walnut wall plaque.

PREPARATION: Plans may be the product of a single student or a team of up to four students, each of whommust be enrolled as a full-timeundergraduate student in a U.S. basedcollege or university in a financialplanning/services curriculum.

Students may not receive assistance from faculty members or outside financial advisors.

10 THINGS TO ENSURE YOUR SUCCESS IN THE FINANCIAL SERVICES INDUSTRY

PRESENTATION: Each plan may bepresented by one or more students at the Financial Advisors Forum, andattending students and a faculty advisorfrom each school will receive acomplimentary registration for the entireprofessional conference.

PLAN FORMAT: The plan must be placed in a single three-ring binder and accompanied by a CD-ROMcontaining the client files as entered bythe students, including file copies ofsupplemental reports which may beprepared in Word, Excel, PowerPoint or inPDF files if output from a third-partysoftware application.

BASIC PLAN SOFTWARE: The IARFC willpresent to the participating schoolssufficient copies of the Plan BuilderFinancial software, which will be used forthe basic structure of the Plan. It shouldbe noted the Plan Builder softwareorganizes, analyzes and projects numbers— it does not provide recommendations.

PLAN FACT STITUATION: This will beprovided to the faculty advisors andstudents in an unstructured Word file.The students must organize and enter thedata into Plan Builder.

USE IN TEACHING: A college or universityinstructor may use the plan submission asan assignment or for supplemental creditwithin their course. However, theseevaluations or grades will not influencethe IARFC Plan Evaluation Board.

Financial Plan Competition Launched

The first national Financial Plan Competition has just beenlaunched by the IARFC and invitations have gone out tomore than 90 educational institutions. The competition isopen to undergraduate students enrolled in a curriculum ofpersonal financial planning or financial services. It requiresthe submission of a comprehensive personal financial planto be evaluated by a national Plan Evaluation Board of veryexperienced and highly credentialed financial advisors.

The three best plans, and the plan will be invited to present their plans atthe Financial Advisors Forum on May 15-17, 2007 at Bally’s in Las Vegas.Following the presentation of the three finalist plans, the audience ofadvisors will vote as to their evaluation. The winner or winners will beannounced on the final day of the Forum. These student will be primeprospective associates for those advisors seeking personnel growth.


DEADLINE: Since the three finalists willbe announced on May 1, 2007 the Plans(with the supporting CD) must be receivedby the IARFC prior to March 15, 2007.

PUBLICATIONS: Two articles will appearin The Register, one when the threefinalist plans are selected, and afterwardan article with photos of the winning plan writer (which may be an individual or team).

The IARFC will also publish a paper in itsacademic publication, Journal of PersonalFinance to be prepared by the planauthor(s), consisting of a summary of thecase, including a balance sheet, incomeand expense, family facts and goalsummary, and the recommendationsmade by the award winner.

FACULTY PARTICIPATION: Each collegeor university will designate one facultymember to accept the responsibility for distribution of materials andcommunications to students and otherfaculty advisors.

SOFTWARE GRANT: This can becomputed by multiplying the retail cost per copy of Plan Builder softwaretimes the number of authorized users at each university.

(Example: 24 x $1,195 = $28,680).

The IARFC has arranged for the Plan Builder software donation fromFinancial Planning Consultants, Inc, andthe IARFC will cover all incidental andcommunication expenses for the Plancompetition, including the judging of theplans submitted.

LOCAL RFC INVOLVEMENT: If anymembers of the IARFC are involved as adjunct or part time instructors at a university we would like to have them participate in distributing the information to their schools, and to encourage the students in theirplan preparation.

If you are involved in any way with aninstitution, please communicate with the IARFC at: [email protected] or 800 532 9060

If you look around the LTCI landscape,you’ll see many changes have occurredduring the past two years. Someinsurance companies got out of themarket, some companies have hadsignificant premium rate changes, andnow your prospects are getting moresavvy about how to buy this insurance andwill ask key questions about LTCI and thecompanies which you represent.

It’s not possible to stand still. As advisorswe have to look to 2007 and welcomethese changes in products and how to sellthem effectively, because those changesare not going away. You can’t sell LTCI thesame way you did 5 or 10 years ago. Youcan’t promise the client that there won’tbe rate increases. And, you can’t promisea client that the cost of healthcare won’tcontinue to skyrocket.

When you’re creating your prospectingplan, scramble your marketing strategy abit. There isn’t a sure-fire solution forevery marketplace or prospect, no matterwhat the advertisers tell you. Try directmail; give talks to your local Rotary, Lion’sClub, or women’s investment groups. Putan ad in the paper or take some time onCable TV to do an Infomercial. Give anafternoon tea and dessert event to ask your clients for feedback. Ask 10 key clients to be on your AdvisoryBoard each year. They’ll certainly tell you about the competitors they see in your marketplace and what theylike or don’t like about them. Thisinformation is SO valuable to yoursuccessful marketing efforts! Clients love to help and will feel very honored that you want their input. Use it to your advantage.

Next, when you’re working with clients,don’t assume that every individual needsthe same type of LTCI plan. The averageperson who buys an LTCI policy today ismuch more informed than they were 5yeas ago. Yes, the average person stillneeds about 3 years of coverage as aminimum, but that’s not the only solution.Every person wants to believe that they’llnever need to use their LTCI plan, andwe’re living longer than ever.

Denial will always be a factor in the LTCIsale and no matter how good the productsare your healthy client does not want toimagine their health changing so muchthat they would actually have to use thebenefits of an LTCI policy. Beprepared to address theirfears calmly andproceed throughyour salespresentation.And, by allmeans, don’tignore whatthe clientsays to you.Otherwise,you mightnot be ableto close later on.

As advisors, weneed to look atthe client’s completefinancial picture, inaddition to the questionsyou’ll always ask about theirhealth and family’s longevity factors.When you prepare some proposals foryour client, factor in the client’sguaranteed income factors, inquire abouttheir life insurance and determinewhether some of the life plan’s deathbenefits could be used to pay for any carein the future. Ask your client couple aboutthe preparations they have made for achange in income when the first onepasses on. Some advisors even considerLTCI to be a portfolio protection plan.

For clients who can’t health-qualify forLTCI coverage, be prepared to offer somealternative solutions. Their familymembers may need to give input, andthose same family members can becomeyour next clients when they watch youprepare and offer solutions to their Mom and Dad.

Whatever situation you have with a client and their financial picture, you can find a solution that will fitperfectly for them. It probably won’t be the solution that you’ve been selling on a regular basis though. The days of selling only the stand-alone LTCIpolicies are just about over. The Advisorwho learns the basics of selling LTCI andthen fine-tunes their sales presentation to encompass the client’s financialsituation will be the Advisor who WINSconsistently in 2007.

Join Wilma Anderson in Las Vegas atthe 2007 Financial Advisors

Forum during herpresentation

“Matching LTCOptions for the

More-SavvyProspect &Client,” andlearn how tofine-tuneyour sellingskills forthe more-savvyprospect and

client!Skillfully meet

the needs of the50 year olds who

may not see theneed for LTC right now,

learn how to open theGroup sales market in your

area, and learn how to offer the non-traditional plans to the 60 or better-agedclient/prospect.

Wilma G. Anderson, RFC®, is known in the industry as The LTC Coach, and is a practicing producer and InvestmentAdvisor Representative in Littleton, CO.Through the LTC Coach, Wilma offerssales workshops. DVDs and sales systems that help Advisors to boost their LTC and annuity sales to the senior market. She can be reached [email protected], or 720 344 0312. www.theLTCcoach.com

In 2007, Keep Changing to Mirror the LTCI Market Place & Prospects

Wilma G. Anderson, RFC®


At a recent ContinuingEducation session of the IARFC-Taiwan,certificates were presentedto the most recent 80graduates in the publicauditorium of the CentralNewspaper Building.

Over 300 RegisteredFinancial Consultants wereassembled for the half dayeducational event. Therecent accomplishmentswere saluted by IARFCChair, Ed Morrow, who wason hand for the ceremonyand was one of the CE presenters.

The IARFC has establishedregular RFC classes in thefollowing cities: Taipei,Kaohsiung, Taichung,Tainan, Hualien andTaoyun. It has also heldclasses in the trainingfacilities of fifteeninsurance and insurancebrokerage organizations.Local RFC clubs meet on amonthly basis to exchangeideas and participate incase studies. This is inaddition to quarterly CE events sponsored by IARFC-Taiwan in major cities.

Each RFC in Taiwan nowhas access to a websitewww.IARFC.org.tw thatprovides communicationand distribution services.On a regular basis eachmember also receives anelectronic newsletter.Quarterly there isdistribution of a 48 page printed magazine/newslettercalled the Register — and persons alsoreceive the monthly Advisers magazine

The number of Registered FinancialConsultants in Taiwan has increased from150 in March 2004 to 1,100 in March2006 and by end of year the number ofRFCs in Taiwan will reach 1,300 based oncurrent class enrollment in six cities.

Nearly 200 articles in Taiwanesepublications with subjects related tofinancial planning have been aimed ateducating local citizens in Taiwan to

understand the importance of financialplanning and hiring a professional advisor.

IARFC-Taiwan has formed a strategicalliance with the Economic Daily, Taiwan’smost important financial newspaper,causing the IARFC to become well knownin financial circles. RFC members cannow have their articles published inEconomic Daily every two weeks toprovide financial information, and topromote the designation to the public.

The RFC has become the leading brand offinancial certificate in Taiwan, far beyondthe competing designations andeducational programs.

Agreements have beenexecuted with the followinginstitutions to promoteRFC: ShinKong LifeInsurance, ING Life Insurance, Fubon LifeInsurance, AEGON Life Insurance, GAMCInternational FinancialGroup, PCA Life Insurance,Insurance Brokers’Association, HonestyInsurance Broker Company,Rock Financial RiskServices, HoyaworldInsurance Broker Company, Kon Hsin Insurance BrokerCompany, Ho Tai Insurance Broker Company, WeiLin Insurance BrokerCompany and ChiayiInsurance Union. Theseorganizations haveendorsed the RFC coursesfor their associates andthey strongly encouragecontinuing education.

An RFC ElectronicNewspaper is delivered to all Taiwanese RFCmembers with the purposeof providing updatedinformation and news.Each month RFC membersin Taiwan also receiveAdvisers magazine, a 120 page publicationfeaturing articles forfinancial advisors andinsurance agents, oftenincluding articles by RFCs.

The new IARFC-Taiwanwebsite www.IARFC.org.twprovides various data to allRFC members Each majorcity in Taiwan now has an

“RFC Club” as a platform for all membersto interact and communicate with eachother so as to expand each one’sprofessional network and exchangeplanning techniques.

IARFC-Taiwan is under thecapable leadership of RichardWu, RFC® who can be reached

at [email protected]

Taiwan RFC Growth


Addressing the most recent RFC Graduation Ceremony and CE session inTaipei is Mr. Liu Chung Sheng, the General Manager of Polaris Securitiesof Hong Kong and Polaris Holdings of Taiwan. He addressed the group onFinancial Planning and Investments in the Golden Triangle of Taiwan,Hong Kong and Macau. Mr Liu is also the publisher of two prominentmagazines, Financial World and Info on Wealth that are widely read.

How do you forward e-mails? A recentsurvey of sophisticated business users ofthe Internet revealed that having to glanceat and delete all those pesky messages atleast 50% do not! In fact nearly 100% donot follow “good forwarding” procedureson a consistent basis

Do you wonder why you get viruses orjunk mail? Don’t you hate it? One of theculprits may be you — and the way you areforwarding e-mail messages.

Every time you forward an e-mail there isinformation left over from all the peoplewho got the message before you, namelytheir e-mail addresses and names. As themessages get forwarded along, the list ofaddresses builds, and builds, and builds.All it takes is for some poor sap to get avirus, and then his or her computer cansend that virus to every E-mail addressthat has come through his computer. Or,someone can take all of those addressesand sell them to a junk mail marketer inthe hopes that you will go to their site andhe will make five cents for each hit.That’s right, all of that inconvenience overa nickel! How do you stop it? Well, thereare several easy steps:

1. When you forward an e-mail, DELETEall of the other addresses that appear inthe body of the message (at the top).That’s right, DELETE them. This is quiteeasy — just highlight them and deletethem, backspace them, cut them,whatever it is you know how to do. It onlytakes a second. However, you MUST clickthe “Forward” button first and then youwill have full editing capabilities againstthe body and headers of the message. If

you don’t click on “Forward” first, youwon’t be able to edit the message at all.

2. Whenever you send an e-mail to more than one person, unless it is to very select persons with whom you doregular business, do NOT use the To:or Cc: fields for adding e-mail addresses.This placement adds their names visiblyto all other recipients, and exposes them,and you, to the interest of the “e-mailaddress collectors.”

3. Always use the Bcc (blind carbon copy) field for listing the additional e-mail addresses. This way the peopleyou send to will only see their own e-mailaddress. If you don’t see your Bcc: option click on where it says To: and your address list will appear. Highlight the address and choose BCC and that’s it, it’s that easy. When you send toBcc your message will automatically say“Undisclosed Recipients in the “TO:” fieldof the people who receive it.

4. Remove any “FW:” text in the subjectline. You can re-name the subject if youwish or even fix the spelling. “FW” in the subject line is a field that attracts the attention of e-mail collectors, because it often is accompanied by listsof e-mail recipients.

5. Always hit your Forward button fromthe actual e-mail you are reading. Everget those e-mails that you have to open10 pages to read the one page with theinformation on it? By forwarding from justthe actual page you wish someone toview, you stop them from having to openmany e-mails just to see what you sent.

Do You Really Know Where Your E-Mails Go?

6. Have you ever gotten an e-mail that isa petition? It states some political orreligious position and asks you to addyour name and address and to forward itto 10 or 15 people or even to send it toyour entire address book. This petition e-mail can be forwarded on and on andcan collect thousands of names and e-mail addresses. The completed petitionis actually worth a couple of bucks to aprofessional spammer because of thewealth of valid names and e-mailaddresses contained therein. If you reallywant to support the petition, send it asyour own personal letter to the intendedrecipient. Your position may carry moreweight as a personal letter than whenaccompanied by a laundry list of namesand e-mail address on a petition.

7. Be wary of the e-mails that say thatsomething like, “Send this e-mail to 10people and you’ll see something great runacross your screen” or “If you forward thisnow, you’ll receive good luck or 200prayers.” Or sometimes they’ll just teaseyou by saying “something really cute willhappen.” It won’t happen! There is nomechanism for counting all those whoforwarded an e-mail and sending themsome sort of congratulatory message,photo, or prayer.

8. Before you forward an ‘Amber Alert’ ora ‘Virus Alert’, or some of the other onesfloating around nowadays, check them outbefore you forward them. Most of themare junk mail that’s been circling the netfor years! Just about everything youreceive in an e-mail that is in question canbe checked out at Snopes. Just go towww.snopes.com. It’s really easy to findout if the warning message is real or not.If it’s not, don’t pass it on.

9. Just use a little extra care whenforwarding messages. Already, there areenough pirates, hackers, spammers, andmalicious operators on the webs. Theydon’t need our help!

10. If your colleagues, compatriots, family and friends need to receive thismessage, e-mail [email protected],request the Forwarding Memo and we will reply with an electronic copy you canthen forward — using BCC, of course!

Ed Morrow, CLU, ChFC, CT, CFP®, CEP,RFC®, is chairman and chief executive ofthe International Association ofRegistered Financial Consultants.


Your prospects andclients have onething in common —each is hungry forsincere appreciation.Most feel that othersdo not recognize orappreciate their trueworth. Praise andappreciation canwork wonders inbuilding long lasting,viable relationships.Here’s an interestingillustration:

In the fall of 1860,the steamship “Lady Elgin” set out with atotal of 393 passengers and crewmembers, to make the trip from Chicagoto Milwaukee. Just off the shore ofEvanston, she was rammed by a lumberschooner and sank. As a result, 279 ofthe passengers and crew members died.Of those who were saved, 17 of themwere saved by a student at NorthwesternUniversity, Edward W. Spence. Spencemade 16 trips in all fromthe shore to the sinkingship and back again,saving the 17 lives.

Because of physicalexertion and the coldnessof the water, Spence was inshock at the end of the16th trip. It was reportedthat as they carried him tothe hospital, he kept askingthe question, Did I do my best?

Unfortunately, as a result of the incident,Edward Spence spent the remainder ofhis life as an invalid in a wheelchair.

Fifty years later, Northwestern Universitygranted him a Bachelor of Arts degree,not because he ever finished the classwork — he didn’t. He was awarded thedegree because they decided he deservedit. A bronze plaque commemorating hisheroism was placed on the wall of the oldCoast Guard Station at the southeastcorner of the campus — and it hangsthere yet today.

When he was 80 years old, on theanniversary of the sinking of the “LadyElgin,” Edward Spence was interviewed byChicago newspaper reporters. They askedhim, What is your most vivid memory ofthat tragic fall day when the “Lady Elgin”went down off the coast of Evanston?

Mr. Spence’s answer was, Not one of the17 people whose lives I saved ever cameback to say thank you — not one.

There is not enough appreciation in this world. Maybe people feel a bituncomfortable saying, Thanks. Maybe they feel that somehow peoplealways know they appreciate a gesture.They don’t!

The IARFC has developed a wonderful toolfor advisors to use in expressingappreciation — the Personal Note Card,with the Gold IARFC key on the front andthe Code of Ethics on the back. They areinexpensive, but when completed with ahandwritten message of just ten or fifteenwords — terribly effective. They areavailable in boxes of 250 for $100, andwe’ll even include a Blue Gel Pen in acomplimentary color, dark blue. Foradded impact, you can seal the envelopeswith a one- inch IARFC gold seal that costs$30 for 250.

The above article was adapted from theMonday Morning Message, distributedelectronically by Kinder BrothersInternational of Dallas. Jack Kinder, GarryKinder and Bill Moore are all RFCs andactive members of the IARFC. For moreinformation on their services, see:www.KBIgroup.com

Do You Say “Thanks” Often Enough?


Look for opportunities to express appreciation.People want recognition as individuals more thanany other single thing — even those who neverperform a heroic act.

Client appreciation requires tangibleactions that set you apart in the eyes ofclients as an individual who truly cares.And that’s Boxes by Pandora’s solemission: To help you demonstrate clientappreciation in a noteworthy andaffordable way!

From specialty document wallets andfolders that will make your presentationsmemorable, to worry-free documentfiling systems that will create naturalcross-selling discussions — you’ll findthem all here!

Our specialized manufacturing andproduction facility can personalize all ofour products with engraved brassnameplates, as well as your name andcompany logo.

If you’d like your VIP clients to thinkpositively about the services you provideon almost a daily basis, then our custom-made, personally imprinted clientappreciation boxes — created from selectwoods — are for you! Their rich, functionaldesigns will have all your clientsshowcasing them on desks, credenzas,and display cases.

Boxes by Pandora has special pricingfor IARFC members. For additionalinformation, a full brochure orto order call: 800 232 6937 orvisit: www.BoxesByPandora.com

Go Ahead and Impress Your Clients

The Registered Education Planner (REP®)preparation study course and examinationis offered by the First Financial EducationCentre, a 501(c)(3), education non- profitcorporation. The many opportunities forcommunity service available to RFC’s incollaboration with FFEC will be discussedin future articles. You may browse theirwebsite at 1fec.org if you wish tocollaborate on a project now.

What is the Designation?

The Register Education Planner (REP®) isa professional designation awarded by theInternational Association of RegisteredFinancial Consultants to those financialadvisors who can meet the highstandards of education, experience andintegrity required of all its members. Thisstudy course provides a resource toFinancial Advisors who want to offereducation planning services and productsto parents in preparation to pay foreducation and addressing the collegeadmissions process.

You may be wondering “who needs aRegistered Education Planner?” Oneanswer may well be approximately 13 million families!

These families need the help of a memberof the IARFC who has completed theeducation requirement for the professionaldesignation; Registered Education Planner.Another may be Baby Boomers, 50% ofthe Boomers are between the ages of 40-50 and 50% are between the ages of 50-60. Their children are either in college, orin the process of attending college. Manyof these people are already a client of anRFC. Many need help finding solutions toavoid using retirement savings to pay fortheir children’s education; this is a veryemotional issue.

Let’s look at some very startling facts:According to the College Board’s,www.collegeboard.org, 2005-2006analysis of college costs, the averageannual cost to attend a four-year publicuniversity is now $15,556 and a four-yearprivate school is $31,916. Elite privatecolleges like Harvard can approach$50,000 per year!

College costs are generally paid for with after-tax dollars, which means in the 28% tax bracket you must actuallyearn $18,655 to pay the public university$12,500. Remember, this is the cost for ONE year for ONE child. Using the tax benefits available to pay for aneducation provided by the government isa very important part of the overalleducation plan.

So what is the purpose of the program?

The REP education program introduces abusiness process that will provide afoundation for a planning and advisingrelationship on financial matters. Theplanning focus is on training advisors todeveloping a clientele. In this process theadvisor will grow as his/her clients grow.In many situations a RFC will use anintern to assist in offering educationplanning to serve his/her clientele and thecommunity. This is a great benefit tocollege students who are interested in acareer as a financial advisor.

The Ethics Pledge of the IARFC isapplicable to all who complete the REPcourse. The experience requirement is aprofessional financial planner who isactive in financial planning and wishes toadd education planning and funding toservices they already offer. Theparticipant in the program receivesapproximately 150 pages of course

materials, bound in a study notebook,plus various handout pages developed by the instructor to share common areas of interest expressed by thestudents, along with Excel spreadsheets.For more information visit the FFECwebsite at 1fec.org.

Attendees must pass a writtenexamination at completion of the REPcourse and then will be granted the REPprofessional designation. Then they usethe term Registered Education Planner(REP®) on their brochures, stationery andbusiness cards. (John Advisor, REP orJohn Advisor, REP®, RFC®)

A Registered Education Planner (REP®)must complete 10 hours of professionalcontinuing education in college planning,grants, loans and financing annually inorder to maintain the designation as aRegistered Education Planner (REP®).This would also qualify for RFC, so it doesnot increase the RFC’s CE requirement.

Persons successfully completing allrequirements will become members of the International Association of Registered Financial Consultants (a non-profit professional education and practice support organization) and their names will be published on the IARFC website www.IARFC.org alongwith additional professional qualificationsand background.

The Registered Education Planner is not a degree, but a professionaldesignation, certifying that the individualhas satisfactorily completed all therequirements of the IARFC for thatprofessional designation. The term willnot be used in connection with anyproduct or service offered to the public or in commerce.

Registered Education Planner (REP)A Window of Service Opportunities

Display the IARFC Code of EthicsPlaque For Your Business!

Where does the IARFC stand? We solidly re-affirm our Code of Ethics. Thesimple, straightforward yet thorough Code is easily and clearly understood byconsumers as well as other advisors. Proudly Display Your Code of Ethics Wall Plaque in the entrance of your office,waiting area or in the room where you meet with clients. Handsomely placedbehind clear plastic on a walnut base

(8.5” x 13” — with some assembly required)Call Today and order the IARFC Code of Ethics wall plaque at a cost of $50plus $10 shipping: 800 532 9060


at any price. In short, create such valuethat a client would be lost without yourinvaluable services.

2. Place a high value on your peopleskills, your emotional intelligence.Many years ago Dale Carnegie discoveredthat the reason over 90% of all employeeslost their jobs had nothing to do with their innate ability for doing the work, but had everything to do with their peopleskills, or their ability to get along withother people.

You will also find that whether you arebeing selected and hired into a positionas an employee, or whether a client wantsto secure your services as a consultant,most people will not hire you unless theylike you. So your day in, day out, messageneeds to emanate “you can like mebecause you trust me”.

Although we are in an industry that has ahigh focus on technical issues and logicalconclusions, never forget that people buyon emotion and justify it with logic.Whenever you make a recommendation toa boss, a client or customer, make sureyou can relate it to the right hemisphereof their brain, the emotional half. Oncethey are excited about the outcome, thengo through with the logic and reasoning tojustify the decision.

If this is a weak area for you, read a booksuch as Dale Carnegie’s, How to WinFriends and Influence People or take acourse on emotional intelligence. It willprobably be the best continuing educationyou will ever get.

3. Give 110%, or under promise and over deliver. I sometimes think that your generation has been completelycast as “slackers”. Sure, there are a few slackers out there, but I see a lot of very dedicated young people, anxious to do whatever is necessary to accomplish their goals. Nevertheless it does seem that high quality service has become a thing of the past! Ifrequently feel as if I am living in AynRand’s book, Atlas Shrugged andeventually our whole infrastructure willdecay and it will be impossible to get a car or train or plane to go anywhere safely or on time.

A Mom’s Letter to Her ChildrenBy Katherine Vessenes, JD, CFP®, RFC®

Dear Loved Ones:

As you are completing college and starting in your career, you will be facing a lot of challenges and many wonderfulopportunities. I have often felt in my career that I was crawling through the jungle with a flashlight and amachete. Perhaps I was blazing the trail for you. Let me give you the advice I wish someone had been able to give meearly in my career. It would have made ahuge difference.

Here are the ten lessons that I think areabsolutely crucial for your achievingsuccess in the financial services industry:

1. Make yourself indispensable.We are currently facing an unprecedentedmedia glut of information in all areas of our life. It is particularly pronounced in the financial area. Our clients andcustomers are absolutely overwhelmedwith a mind-boggling array of details, data and conflicting information abouttheir finances.

A crucial part of your mission is to makesense out of nonsense, to work your waythrough the glut of information andsimplify it into a few clear choices for yourclients. An important part of your job is tomake life easier for your clients. Inwhatever way you do that, make sure thatyou become absolutely indispensable forthem, whatever you provide for yourclients, they could not get any other place,

This malaise over excellence puts you in agreat position. Remember, most of thecountry has seen the world class serviceof Disney World. It is the kind of servicethey would like to expect in every part oftheir lives, and are all too disappointednot to receive. If you can give that worldclass service consistently you will becomeindispensable to your clients and they willmake you very successful.

4. Figure out what the client wants and give it to them. As you take on your new position, it is important for youto think in terms of who is the client? Ifyou are being hired into a corporation,part of who is the client will definitely beyour boss or your superior. If you areworking as a consultant or an advisor,your client is a person who wants to retain your services.

Few people have figured out this basicconcept. I was talking to a large brokerdealer recently and they said to meproudly, “We finally figured out who theclient is!” I looked at them with light in myeyes thinking maybe somebody has finallygotten the picture. He continued, “Weknow our client is the investor,” he saidproudly. I was really dismayed becausehe had missed who his real client was.His real client was the rep! His realmission was to help the rep serve therep’s client, the investor.

The first step in this process is figuring outwho your client really is. Then discoverwhat they really want and how can yougive it to them.

Here are a few questions that you can askthat client: in three years what will makethis relationship worth your time andmoney? How would you define asuccessful relationship? What can I do tomake this relationship work better foryou? What do you really expect of me?Once you have the client’s expectationsclearly in mind, remember your goal andyour mission is to exceed thoseexpectations 100% of the time.

5. Take time to play. Yes, I know youcannot believe this is coming from yourmother, but a well balanced life not only

continued on page 14

Katherine Vessenes, JD, CFP®, RFC®


continued from page 13 Compliance-Friendly Marketing

brings you the energy to serve yourclients, but the inspiration you need tostay at the top of your game.

6. Make friends. “When you need afriend it’s too late to make one,” saidMark Twain. This industry has been,amazingly generous to me. I have hadpeople offer me money during thin times.I have had others who generously calledand said, “Katherine I’ve got a newbusiness venture for you. This is what Ithink you should do, and I’ll be your firstclient. After you’re finished with me, I’llhelp sell this idea to others.” In short, Icould never have survived in this industrywithout my many generous friends. Isometimes think we get far too involvedon the “work”, crunching the numbers orreviewing the alternatives, and spend toolittle time on the intangibles, makingfriends for life.

The best way to make a friend is to beone. Go out of you way to be kind. I try toalways ask, “What can I do to help youout?” Sometimes it is something assimple as introducing them to anotherfriend where the synergy could be goodfor both of their businesses.

7. Be honest, even if it hurts. You know we have always believed thathonesty is the best policy, but it was really put to the test a few years ago. I was just finishing up my first book, The Compliance and Liability Handbook,where I included a section on how tochoose a good insurance company andhow to choose a broker dealer. By thattime I had left the financial planningpractice and was lecturing and writing onthe subject, when I got a notification thatone of my former clients was planning towithdraw all of the money from his lifeinsurance policy.

Normally this would not have caused me any alarm. In this particular case the clients were a couple who had been friends of mine. It had been mypractice, dating from my years of legal experience, to always make husband and wife joint owners of any life insurance policy. This meant thatneither person could cancel a policy orwithdraw the cash without the other’spermission, which was designed to protectthem if they should divorce. In this case,Hubby, after 30 years of marriage walksout and moves to Alaska with Bambi. The wife, a hard worker, labored for years to pay off his debts and diligentlywas making payments on this whole life insurance policy on her husband.

Apparently, Bambi could not supportHubby in the style to which he wanted to become accustomed and he wanted to take the money out of the policy, which of course, had all been put there by his wife.

When I looked into the policy in greaterdetail I discovered that the insurancecompany had made a mistake and hadnot made them joint owners as I hadoriginally instructed. Naively, I call them up, explain the situation andexpected them to rectify it. After all, it was the right and honorable thing to do.They basically told me to kiss off.Ironically, my own insurance companycompletely failed the checklist I waswriting about in my book. It took all myenergy not to threaten to expose theirsorry behavior. I kept my mouth shut andtheir guilty secret will go to the grave.Step two was to crank up the people skillswe described in number 2. I eventuallyconvinced them that they should give meat least a week to see what I couldarrange on my end of the deal beforereleasing the money.

It was at that point that my entire lifepassed before me. I could see the wifesuing me for loosing the $300K lifeinsurance policy when her husband died, and I was frankly wondering howlong it was going to take to bankrupt us. I spent a couple days scurrying around to get things fixed to no avail. I alsodiscovered this company no longer hadE&O insurance on me and I realized I was going to have to call the wife andexplain to her the situation. She is highly emotional and I knew it was notgoing to be easy. I took a deep breath,got caught up on my prayer life, and called her. I explained what had gone on and also went on to outline that she had a couple choices. I explained the first choice was that she could filethat long awaited divorce and get thecourt to issue a temporary restrainingorder, preventing Hubby from withdrawingthe funds. She could do nothing, and loose all the money. She could sue the insurance company, or, (and Itook a deep breath), she could sue me. I felt I had to give her all the alternatives.At first she laughed, and then she cried. Eventually she got an attorney and got a restraining order against herhusband. She never did sue me. In factshe was so pleased with how I handledthe affair and how hard I worked on herbehalf that she sent me a gift certificatefor a massage. So, always be honest,even when it hurts.

8. Become an expert at something.Part of becoming indispensable andabsolutely invaluable to your clients is tolearn a particular area of information thatis critical and in high demand. I know oneperson in this industry who specializes inhelping the very wealthy who haveinherited their money. She is the onlyperson I know in this area. By the way inthe unlikely event that your father and Ileave you vast sums of money, I hope youwill go to her to work it out.

I came across this concept of expertise quite by accident in 1991 when I was working with the IAFP tocomplete my first book. One wise soul,who has since become one of my manydear friends, suggested that a uniqueangle would be to take all the complianceissues and weave them with a marketingspin. It was an absolutely revolutionarythought and I have made the most of itever since. Now my focus is themarketing and compliance issues facingthe industry. Although there are a fewcompliance people in the industry andlots of marketing types, I do not know ofanyone else who does what I do: turncompliance into a powerful marketingtool. I did not realize I had become anexpert until last year when BloombergPress was promoting my second book, Protecting Your Practice, and called me “America’s best knownauthority on the legal, ethical andcompliance issues facing financialadvisers.” I looked at this statement for a full ten minutes trying to figure outwho they were talking about.

A corollary to this rule is that if subjectmatter you want to become an expert at is unpleasant but also critical, so much the better. Other people are notgoing to take the time to learn it, and youwill get a chance to excel. One law firm Iknow really used this point well. Theytook a small area of insurance law andwrote a ten page report of the ins andouts of this particular portion of theirbusiness. They sent it to all of theirclients and prospects. Every year theyupdated it and it kept getting larger and larger. It is now a 300 page bookthat is absolutely critical to the industry if you really want to understand this areaof law. They found a niche; they becamean expert.

9. Identify your gifts. Dan Sullivan of theStrategic Coach has done a great job ofgetting his clients to focus on their



continued from page 14 Compliance-Friendly Marketing

“unique ability”. Your unique abilities are those things for which you areunusually gifted. When you do theseactivities, you get energized and you reap extraordinary results. I know one of my gifts is communication, particularlyto audiences. I love giving theminformation that will make their livesbetter. It energizes me and we getextraordinary results.

Regrettably, a lot of our life has beenworking outside our unique abilities, in theareas Sullivan would call incompetence,competence, and excellence. I have foundapplying this principle brings far greaterresults. Life is easier and a whole lotmore fun. This can only lead to yourlongevity, if you are working in your unique gifts.

So now is the time to start thinking abouthow you are uniquely gifted. This willbecome more clear to you over your nextfew years of employment. Eventuallywhen you are old, wise, and say over 40,your goal will be to work at least 80% ofyour time in your unique ability.

10. Remember Whom you serve.I could sum up all of these thoughts inthis last concept. It helps for us not to gettoo high an opinion of ourselves andrealize we are only servants. We may beserving a boss, a corporation, or a client.Our role, in addition to making sense outof nonsense and making their life easier,is to serve them.

Ultimately though, we have anotherPerson we serve. We serve the Creator ofthe Universe, He who created honesty,truth, and your unique abilities. So yourMom’s final advice to her three lovedones: remember that everything you doshould reflect the attributes of thisCreator and God bless you. I am veryproud of you.

Love and kisses, Mom.

Maybe you ought to consider writing asimilar letter to your children...

Katherine Vessenes, JD, CFP®, RFC®, is anationally known author and speaker,focusing on sales, marketing, complianceand practice management issues forbroker/dealers and advisors. Look forher latest book: Become a MultimillionDollar Financial Advisor. She can bereached at [email protected].


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Following our recent trips to China andIndia we had an opportunity to join upagain, this time in the playground of therich and famous of America, PalmSprings, California. Actually we werenearby in Palm Desert at the convocationof the Top of the Table, the signatoryevent of the Million Dollar Round Table.Over 400 of the world’s most successfulinsurance sales persons were gathered innearly palatial surroundings, sculptedponds, waterfalls and walkwayssurrounded, as you would expect, by palmtrees. About half the attendees were fromoutside the United States, reflecting thegrowing number of professionals and thegrowing size of their affluent constituencyaround the world.

In China, the atmosphere of the generalpopulation had been one of confidentcommercial exuberance and rampantconstruction. Everywhere people werebusy — industriously at work,communicating constantly by cell phone,text messages or computer. The messageseemed to be, “how can we do businesstogether, quickly and profitably?” Theattitude of agents and advisors at theconference was, “Tell me more, quickly!”

In India, the pace was slower and withoutthe same passion for organizationalstructure, order and cleanliness. Theatmosphere had been one of capitalismand friendliness. Smiling and caring facesrose above the more colorful dressmaking quick eye contact, with a messageof “You seem to be an interesting personI’ll like to become friends…perhaps wecan find away to do business together?”The agents and advisors were more open, “I’m looking for techniques andmarketing skills!”

However, in the bastion of rampant andsuccessful capitalism, we found everyonebusy at their task — whether it be work,leisure or travel. In prosperous selfconfidence the beautiful people ofSouthern California, and those who servedthem and visited them, all seemed to say,“I’m very diligent, decisive and successful— and I’m moving forward to new heights,but there is a possibility I can take sometime out to help you, if you’re interested?”The attitude of the leading producers was,“Tell me more about what you’redoing…and let me tell you what I’m doing.”Sharing needed to be a two-way street.

We are pleased to report that thepredicted demise of the life insurance

career is premature. Successfulproducers are growing even moresuccessful. But as Tony Gordon, pastpresident of MDRT and a native ofEngland indicated, “The times arechanging and the insurance business ischanging rapidly.”

Those who are adapting to these changes,and in fact those who are creating anddriving those changes, were wellrepresented at the Top of the Table.

Some, of course, were enjoying successbecause they are using efficiencies to merely do more of the same thingthey’ve been doing for recent years. But this is not the norm. Most of the top producers are aggressively seekingout new economic opportunities, newproducts and new operating models. One cannot really call this group “lifeinsurance sales men and women.” They are that, but now they are muchmore, as most of their business cardsindicate. Very few had the logo or nameof a life insurer on their cards. Their titleswere not “agent” “senior agent” or“district manager.” Their company wasusually a reflection of diverse financialinterests such as: “Regional FinancialGroup” or “Smith Financial Success.” The logo was not a familiar icon ofinsurance but often an amorphousacronym or initials. Their title was usually“President”, “CEO” or “Principal.”

But there were designations abounding —the prominent ones being CFP®, ChFC, andRFC®. But there were also some with CLU,

CFA, and CPA. A surprising numbersported degrees; MBA, MSF, J.D. and LL.M.

The name badges prepared by MDRT staffdisplayed only two designations, often thefirst two obtained — CLU and ChFC and afew penciled in CFP®. At the exhibit boothof the IARFC the executive director, JudithFisette-Losz, was cheerfully adding theRegistered Financial Consultant RFC GoldKey to the badges of those with thedesignation. Soon you could see lots oflittle gold keys twinkling from the badges.

We were a bit surprised at the emphasison a relatively new product Critical IllnessInsurance. We saw this in theprofessional CE sessions, in the exhibithall and in the interest shown by thosewho were registering to attend aconference hosted by Alphonso Franco,RFC®, which will be held in Victoria British Columbia, on January 25-27.Critical Matters will feature the final public appearance in North America the of the famous heart surgeon fromSouth Africa, Dr. Marius Barnard. You or someone on your staff should attend:www.criticalinsurance.com.

The effort to distill the messages of all theother speakers into a clear and succincttrend was actually made easy by TonyGordon and others who spoke very franklyon the trends that had been driving theirsuccess. Clearly these Top of the Tableproducers fear no one. They have nocompetition — except themselves —

Reflections from Southern California



continued from page 16 Reflections from Southern California

fighting old bad habits and failing toswiftly embrace change.

Charge Fees for Delivering Advice!

This message was loud and clear — fromtop financial producers across the globe.One New Zealander said, “Of course Icharge fees — without doing so no onewould respect me, nor would I respectmyself.” A very successful agent andcoach from England was even clearer: “I charge a fee for the initial consultation,a fee for the advice and plan, a fee forimplementation, and a fee for monitoringthe performance of insurance andinvestments, plus receiving commissions.”

Create Rising Revenue from AUM —Assets Under Management!

These top financial producers haverecognized they can provide personaleconomic stability and increase the valueof their practice by focusing on bringingassets under management. This providesa steadily rising fee source and one thatalso offers generational continuity — withfamilies of their clients. It also offerssecurity for their own family as they bringchildren into their practice. While someuse services offered by their brokerdealers, more are seeking theindependence of becoming RegisteredInvestment Advisers to avoid what somereferred to as the abusive over-regulationof the NASD.

Credentials Provide the Aura of Professionalism!

A surprising number of those we talkedwith have four or more sets of designationcredentials. One commented, “When myclients come into our office they first seethe RFC Code of Ethics plaque in thelobby. Then as they enter my office theyare overwhelmed by the certificates anddiplomas. They instantly know that I’mserious about business and serious aboutbeing professionally qualified to deliverhigh quality advice and service. Theyunderstand, without my saying so, why Inow charge fees.”

Frequent, Favorable Contact Preserves Customers!

A professional practice would not grow ifold clients were leaving as new onescame in the front door. The attendeesoften talked about all the little things theydo to keep their name in front of theirclients — on a favorable basis, of course.Many send reprints of articles they have

written, supplemented by photocopies ofnews that is relevant. Most still sendbirthday cards and token gifts. One callseach client several days before theirbirthday and offers to take them for a“nice birthday lunch.” Often the client isbusy — but always they are appreciative!One advisor commented that his contactmanager, Goldmine, “Just isn’t up to thetask. I don’t have time to write all theletters and articles. I need something likePractice Builder that is already loadedwith the client contact sequences, theletters, agendas, articles and thatautomatically generates the contact list.”

It’s Not Business as Usual! Most ofthese top producers are becoming smallfinancial conglomerates as they add newservices, new products and newtechnology. They aren’t reluctant to learnnew techniques, to acquire morecredentials or to add effective technology.

Mastering Change Gracefully. That isthe most obvious distinction of the MDRTTop of the Table producers. As thepopulation growth of the world has shiftedto Asia and the world economic balancesare tilting, the entrepreneurial spirit ofAmerica still thrives.

Governments Aren’t Solving theShortages of the World. Businesses are, and no one is better poised to helpthe business owners, their executives and their top employees than the newbreed of financial advisor whounderstands the dynamics of insuranceand has the ability to communicateeffectively. Change is inevitable, and soapparently is success — for those whoembrace it with enthusiasm.

Ed Morrow, CLU, ChFC, CEP, CFP®, RFC®

is Chairman of the InternationalAssociation of Registered FinancialConsultants who has established financial training programs in nine Asian countries. Each year the IARFCopens new financial planning courses in additional countries, and it is thefastest growing non-profit association in financial services.

Mehdi Fakharzadeh, CLU, RFC® is a non-retired agent and the leadingproducer of MetLife who has addressedMDRT and other national conferencesmany times. He has traveled to China seven times and addressed agent organizations in 49 countries. His books, Nothing is Impossible andEverything is Possible have beenpublished in many countries and arebibles to those who want to emulate his success.

Both Mehdi and Ed spoke at the IARFCFinancial Advisors Forum in May, theWorldwide Chinese Life InsuranceCongress in Chengdu in August, and at the Life Insurance Round Table inCochin, India in September. Lifeinsurance agents worldwide are keenlyinterested in making the transition tofinancial advisors as they embrace thewider variety of policies and financialproducts offered by the industry. Mehdiand Ed are convinced that the personalcharacteristics of the successful life agent (conservative economically, family-oriented, consumer-focused andcommitted to ethical professionalism) isexactly the type of person who can besuccessful in guiding the overall financialsuccess for consumers.


Mehdi Fakharzadeh, CLU, RFC® Ed Morrow, CLU, ChFC, CFP®, CEP, RFC®

The Register • December 2006

A new designation was brought to thefinancial services industry in 2005 — theRegistered Mortgage Advisor, or RMA.This designation was initially developed asa joint effort between the InternationalAssociation of Registered FinancialConsultants (IARFC), The Equity AllianceMatrix (TEAM) and the Academy ofMortgage Planning (Formerly known asTEAM2). Working together, these threeorganizations created the RMA with theintent of it becoming the worldwidestandard of professionalism in themortgage and financial services industries.

Mortgage professionals garnering theRMA designation must demonstrateknowledge, competence and dedication.To earn the RMA, designees must havebeen serving in the mortgage and/orother financial services industries for aminimum of two years. In addition, theRMA must attend a minimum of 20 hoursof specialized training andsuccessfully pass a writtenexam. According to Ed Morrow,Chairman of the IARFC, “Thiscombination of experience andexpertise underpins thecompetence of the advisor whohas attained their RMA”.

Background of the RMA. In2002, author and renownedfinancial advisor Douglas R.Andrew published the first of histwo landmark books, MissedFortune — Dispel the MoneyMyth-Conceptions. Almostovernight this book helpedaverage persons achieve wealth.

It also was highly regarded in the financialindustry, encouraging property owners touse real estate leverage prudently andsuccessfully. Subsequently, Andrewpublished his second book, MissedFortune 101, with similar success.

Mr. Andrew states, “I wrote Missed Fortuneto help my clientele understand that,financially, they were often doing thingsthe wrong way. It was not their fault, ofcourse. They simply had been taughtmyths about how money really works.

They also did not understand how debtfunctions. As a result, by following aconventional financial wisdom they wereactually making it more difficult to achievetheir financial goals. Missed Fortune andMissed Fortune 101 were written to dispelthose money myths and to reach out and

help everyone who was willing to opentheir minds to the concepts they teach.”

TEAM Training. It was not long after hisfirst book was published that Andrewstarted to receive questions and requestsfor more knowledge and information fromboth consumers, as well as other financialprofessionals who wanted to assist theirclients in implementing the strategiescontained in his book. In response tothese inquiries, he founded The EquityAlliance Matrix or TEAM. TEAM evolvedinto an academy where financialprofessionals from all over the world come to learn about these powerfulprinciples and how to implement them for their clients.

Since its inception TEAM training hasgraduated thousands of professionalsknowledgeable in implementing the“Missed Fortune” strategies.

Although Andrew intended his TEAMprogram for the traditional financialservices industry professionals; financialplanners, insurance professionals, CPA’sand attorneys in fact, almost immediatelymortgage professionals also started toattend the training.

One might ask, why? Well, the answer isobvious. One of the core principles taughtin the Missed Fortunes book series is thatof Equity Management. “Equity can betrapped in your home”, says Mr. Andrew,“equity that is not safe from loss, not liquid and that is providing you with no rate of return.”

By many accounts, such equity is just apoor investment. Freeing a prudentamount of this equity from your home,however, can now be safe when doneproperly. Then, by placing that equity into

an appropriate investment, one, whichAndrew refers to as a “prudentinvestment”, that equity is not only safe,but it is also now liquid and growing invalue as well.

There are only two ways to free equityfrom real estate.

• First, you can sell the property. Butthis can trigger taxes, a new occupancysearch and might require a lot of timeto prepare for a maximum value sale.

• Second, you can restructure the debt. Unless you are willing to sell your home, restructuring the debt requires the assistance of amortgage professional.

As a result, the Academy of MortgagePlanning was born. The Academy offersadvanced equity management training for

mortgage and other financialprofessionals. During a rigorous20 hour program, TEAM2

graduates learn how toimplement the MissedFortune/Equity Managementstrategies from the liability sideof the balance sheet.

The Academy of MortgagePlanning’s founder andeducator Randall Luebke, RFC®,RMA says, “Traditional financialplanning focuses mainly ontraditional financial assets, suchas stocks, bonds, annuities andmutual funds.” Yet, ask yourself

this question, “For most homeowners,what is the single biggest item on theirbalance sheet?”

For most homeowners, it is their home, of course. If it’s not the biggest number it is certainly a big one! Then askyourself, “What’s likely to be their biggestliability?” The answer, generally, will betheir mortgage.

Finally, ask yourself, “What are their biggestmonthly expenses?” The answer is oftentheir mortgage payment, followed by theproperty taxes and so on. In fact, often asmuch as 60% of a family’s net spendableincome goes to service the mortgage andother home related expenses.”

Luebke goes on to say, “It’s no wonderwhy people find it so difficult to save! The

The New RMA - Registered Mortgage Advisor


continued from page 18 The Registered Mortgage Advisor

irony is that these two big numbers on thebalance sheet and the biggest expensesaffecting one’s monthly budget are, forthe most part, ignored by traditionalfinancial planning strategies.”

Addressing the Problem. Luebkerecognized the need to address thistraditional financial planning paradigm.He developed a number of systems andstrategies to help clients to minimize theexpenses and maximize the benefitsassociated with their mortgage, which hecalls Professional Mortgage Planningsm.This focuses on the issues that traditionalfinancial planning largely ignores.

Randy indicates, “We teach how to usethe mortgage as a financial tool. Bymanaging a client’s mortgage along with their home’s equity, we can helpclients to eliminate debt more quickly andeasily. Then, when combined with acomprehensive financial plan, ourProfessional Mortgage Planningsm servicehelps clients to accomplish all of theirfinancial goals; retirement savings, collegefunding, and so on.”

The RMA students report that ProfessionalMortgage Planningsm has been very effectivein helping clients achieve their goals in amuch better, smarter and safer way.

The mortgage professional should bereferred to as a “Debt Manager”according to Mr. Luebke and thetraditional financial services professionalmight be considered the “Asset Manager”.Together, they serve to provide the clientwhat neither could do individually.

Benefits of this Service. Luebke, anexperienced Registered FinancialConsultant, states, “As the result of ourProfessional Mortgage Planningsm servicesthe new RMAs have been able to savetheir clients significant amounts of money.Professional Mortgage Planning focuseson optimizing a client’s mortgage andtheir real estate equity.

Clients appreciate additional cash andcash-flow to utilize in their otherinvestments opportunities. Now, withmore cash available to invest, clients cantake less risk with those investments andstill achieve their financial goals.

More cash going into their investmentsand taking less risk once invested. That’swhy RMAs believe that ProfessionalMortgage Planningsm is simply a better,smarter, and safer way to achieve clients’financial goals.”

Achieving the RMA Designation. Thefinancial advisor attends and successfullycompletes the Academy of MortgagePlanning training program to achieve theRMA designation.

RMAs are trained, tested and graduatewith a far greater understanding of how,working together, the Asset Manager andDebt Manager can better serve theirmutual client. They also learn thenecessary skills and are provided with theproprietary tools needed to successfullyimplement these powerful strategies.

The IARFC is proud to have been a part of the development and the ongoingsupport of the RMA, adding a new andimportant designation to the financialservices industry.

New IARFC Members. So far, there areover 100 persons who hold the RMAdesignation, and they are generalmembers of the IARFC. One of the first toobtain the RMA designation, Jocelyn Ruizof West Covina, CA, is also an experiencedfinancial planner.

In the words of Victor Hugo quoted fromthe book Missed Fortune, “There isnothing more powerful than an idea who’stime has come.”

Andrew and Luebke, whose ideas areshared through their TEAM and Academyof Mortgage Planning training, believe thatthe idea of a RMA is an idea whose timehas come and, moreover, an idea that islong overdue.


For more information concerning the Registered Mortgage Advisordesignation, or information about theMissed Fortune book series, pleasecontact: 949 224 4238 or visit one ofour web sites, www.IARFC.org orwww.TEAM2online.com for enrollmentinformation. Randall Luebke, RFC®, RMA,is a principal in First Reliance Mortgagecorporation in Newport Beach, CA. Hecan be reached at: [email protected] 949 224 4240

Randy Luebke, RFC® , RMA

To enroll in the Academy ofMortgage Planning and achievethe new RMA designation, seethe form on page 20.

Academy of Mortgage Planning (AMP) Registered Mortgage Advisor

Confidential Application Form

Full Name: __________________________________________________________ Preferred Salutation: ___________________________

Business Entity: _________________________________________________________________ Phone: ___________________________

Street: ______________________________________________________________________ City: _________________________________

State: __________ Zip Code: _____________________________ Your Cell Phone Number: ____________________________________

Your E-mail Address: __________________________________________________________ Fax No. : _____________________________

Type of Business: ____________________________________________________________ Years of Experience: ___________________

Licenses Held & States: _______________________________________________________ Your Birth Date: ______________________

Annual Volume of Business: ___________________________________________________ Are any Associates Interested? _________

The Academy of Mortgage Planning is not a substitute for the advice of your attorney, accountant or and other advisors, personal or pro-fessional. Any reproduction, presentation or commercial use of trademarked terms or the concepts, strategies, materials or forms, soft-ware, copyrights, the Bank of YouSM and Professional Mortgage Planning SM and the intellectual property of Randy Luebke’s Academy of Mortgage Planning TM is prohibited without specific written permission.

We reserve the right to decline your continued participation with AMP for any reason at any time in an effort to maintain the integrity of the program. In the unlikely event of an emergency, AMP reserves the right to re-schedule training sessions or substitute presenters.

“I hereby apply for acceptance into the Academy of Mortgage Planning (AMP) as indicated above. In so doing, I commit myself to full par-ticipation in AMP for the one year period for which I am applying. I acknowledge that all of my decisions and actions and the conse-quence of such decisions and actions, whether made in the context of this program or not, are entirely my own responsibility. I enclose or authorize the non-refundable registration fee and know that the balance of the tuition is due 21 days prior to the date of the first ses-sion. I am aware that the deposit of five hundred dollars ($500) is non-refundable, and that none of the tuition is refundable once I have completed the initial training.”

Credit Card No. _________________________________________________________ Expiration :_________ Security Code: _______

I hereby authorize AMP to charge the Credit Card shown above in the amount of $ ___________________

The balance of my tuition will be paid no later than 21 days prior to the start of the AMP training.

Yes, I authorize AMP to charge the remaining balance 21 days prior to the first day of training using the above credit card.

Signature: ___________________________________________________________________________ Date: _______________________

Academy of Mortgage Training 1601 Dove Street, Suite 195 — Newport Beach, CA 92660

Please Fax Application to Attention of: Hanon Jun at: 717 754 3306

The current tuition fee of $3,995/$3,495 is valid for any registration made through December 31, 2007 and is subject to change thereafter.

June 20-21, 2007 October 17-18, 2007 Other Academy Training Dates are pending

Tuition: $3,995 For IARFC Members: $3,495

Tuition Fee includes the RMA designation fee


A Call Guide rather than a phone scripthelps you communicate the real you.

There was a time not that long ago whenthe telephone was the only method ofcommunicating quickly. (Well other thantelegraph.) I don’t go as far back as thepony express but I remember the firstphotocopy machine in the firm I wasworking for at the time. We had to useliquid in the machine and the paper wasshiny and slippery. I also remember myfirst experience with a fax machine andthat’s only because I couldn’t grasp howsomething from my phone could get toanother person’s phone hundreds ofmiles away.

The preamble is just to let you know thattimes change and what worked a fewyears ago doesn’t work any longer.People have figured out how to wreck yourfax machine if you blast them too much.And caller ID makes the consumer morediscriminating about the calls that theyaccept. Then there is the blocked callwhich means we cannot see the caller’sidentity. So, after all this, how do you getthe attention of your target on the phone?

Use a Call Guide rather than a call script.A script sounds practiced and artificial. Itcertainly isn’t personal. A Guide wouldconsist of a short list of questions thatresult in answers that benefit yourmarketing. The sole purpose of the CallGuide is to engage the recipient inconversation. Ask the right questions.The telephone is one of the riskiestcommunication channels. There isnobody to see, there is no body language;there is only your voice and the hundredsof tiny tell-tale indicators of your character,your interest, your sincerity and your

smarts. No call should be made withoutpractice. If you are calling prospects,even if you have prepared for the call bywriting first, remember that the person atthe other end only knows you by how youwrite. Now they will know the almost realyou by how you sound.

I recently had an office supply company callme because I purchased different productsfrom a sister company. The man on thephone was irritating and while I was opento an offer initially in the conversation, hesoon put me off to the point where I gavehim permission to send me a catalogue asa way to terminate the call. He calledabout a week later and wondered if I readhis catalogue. Imagine! I said “Why?” Hesaid, “Well you might need something?” Isaid, “Well if I do I will call you”. Hisattitude came across on the phone as “Iwent to the trouble to send you ourcatalogue and you didn’t even read it”. Sohis objective was not to find out about meand my business and particularly my officesupply needs. It was to harass me intobuying something — now!

Your Call Guide will help you define yourobjective. In other words, what do yourealistically want from this call? Whatevents have occurred prior to the call thatyou can refer to? If you have an offer, howdo you plan to present it on the phone?What do you need to know from theperson you are calling that will help you

20 questions your friends should answer... that could save your career.1. Did I seem in a hurry?2. Did I call at the right or wrong time?3. Did you detect indifference in my voice?4. Was I pushy?5. When you found out about my product or service, did you feel defensive?6. If you felt defensive, what could I have done differently?7. Did you sense that I was listening to you?8. Or, did you feel I came across as knowing it all and wanting to get to my pitch.9. Did you sense that I was smart?10. Did you sense that I was intuitive?11. Did you sense any empathy in my voice and presentation?12. Was my offer attractive to you?13. If not, what could I have done to make a more effective offer?14. Did I use lingo you did not understand, which would force you to ask for

clarification — and thus feel in an inferior position? 15. Was I unclear in any way as to why I was placing the call? 16. If so, what was your reaction to that?17. Did I sound friendly and convivial?18. Did I approach you with some knowledge of your potential concerns without

seeming to be presumptuous? 19. Were you comfortable with the way the call ended?20. Did you want more and I didn’t deliver?

decide what the next step is? Whatobjections could occur and prepare howyou will handle them. Are you calling thedecision maker or are there others youneed to call within the same firm? Beforehanging up, ask yourself what your nextstep is with that prospect. Even if it isgaining permission to keep in touch, youare further ahead than most.

The final step is to select a dozen candidfriends who will let you run your phoneconversation past them. Tell them you willcall sometime and to be prepared tocritique the call because you are lookingfor the hidden factors in your presentation.You must give your friend permission to becandid with you. Your business is at stake.So prepare a list of questions to ask yourfriend about your presentation.

Frances Scott is owner and founder ofClient Sense Marketing Group. Drawingon her years of business managementand marketing expertise Fran hasdeveloped a systemized approach with aseries of communications to a targetaudience and managing activities. Sheenables financial advisors to experiencehighly effective levels of communicationwith remarkable results. Her process isbased on the principle that building salesbegins with building relationships. Shecan be reached at 604 599 4947 E-mail:[email protected] or visit:www.nurtureservices.com

Pitch, Polish or Personality

Frances Scott


PricewaterhouseCoopers recentlycompleted their 2006 Financial ServicesFinance Executives Forum in New York.The consensus of these rep-resentativesof the insurance (38 percent), banking(30 percent), investment management(16 percent), broker/dealer groups andothers was that the cost, burden andrisk associated with regulatorycompliance is the single biggest issueconfronting their organizations.

That is the bad news. The good news isthat it should not be that big a problemfor financial services firms to treatcustomers and shareholders ethically.Most of the attendees at thePricewaterhouseCoopers Forum aremembers of the National Association ofSecurities Dealers. The NASD isdedicated to investor protection andmarket integrity through effective andefficient regulation. Apparently, theNASD members attending thisconference do not consider the currentregulatory environment either effective orefficient. At some point, theirdissatisfaction will result in a reduction inthe cost, burden and risk of compliance.

It is prudent to consider the future ofNASD regulation for those of usproviding financial guidance directly tothe consumer. The compensation issueis the crux of the problems in NASDfirms. The system currently allowshidden compensation and highercompensation in some products than inothers. This leads to conflicts of interestbetween advisor and consumer.

Financial Product Compensation in the United States

Consumers wish to pay advisors andregistered representatives for advice andassistance in implementing financialproducts that are reasonably priced andsuitable to accomplishing their financialobjectives. Broker/dealer organizationsmake their chosen products available toregistered representatives and provide thecompensation for selling the product.Therein hangs the disconnect. Basically,hidden compensation in the form ofcommissions and overrides is paid toregistered representatives andbroker/dealers for the sale of products.The more the advisor/registeredrepresentative sells through his or herchosen broker/dealer group, the greaterthe financial reward. Low sales can meanloss of health insurance and termination.Big sales mean that the registeredrepresentative is not only a hero with thecurrent broker/dealer but that otherbroker/dealer groups will try to entice himor her away. However, the consumer,upon hearing the title “advisor” in any oneof its various forms expects that it definessomeone who offers unbiased, objective,professional advice to clients and puts theclient’s best interest above all others. TheNASD constantly strives to make sure thatthe consumer is treated fairly under asuperstructure of semi-opaquecompensation. To date, the NASDsolution has been rule after rule, formafter form, and fine (without admission ofguilt) after fine.

This U.S. paradigm of marketplaceregulation is dying of its own weight. Therules, fines and forms imposed on allregistered representatives do not makethe compensation conflict go away and,indeed, they are substantially increasingthe cost of delivering financial products tothe consumer. Millions of dollars arebeing ineffectively spent on consumereducation without coming right out andtelling them of the problem with thecompensation system.

The Current U.K. Solution

The United Kingdom’s Financial ServiceAuthority (FSA) has taken a somewhatdifferent path. Call it “Disclosure andSuitability.” That is the title of an article byCharles Ratner, CPA, the National Directorof Personal Insurance Counseling for Ernst

& Young for their magazine for financialservice executives, Cross Currents.1 Hewas assisted by Mark Ross, a seniormanager in E&Y’s U.K. Financial ServicesRegulatory practice. The focus of theirarticle is on the sale of life insurance.

U.K. Terminology

The first revelation is that, whereas wetalk about “term life insurance” and“permanent life insurance” in the UnitedStates, the FSA of the U.K. refers to “pure protection” and “investment-related” life policies.

We know that “term life insurance” is notnecessarily temporary as we imply in theUnited States. Under current regulatorystructure, guaranteed death benefituniversal life (GDBUL) can be structuredwith virtually zero policy owner investmentcapital in the contract. This is essentiallyterm life insurance for life.

We also know that “permanent lifeinsurance” is not necessarily permanent.A great many, so-called permanentpolicies, are terminated prior to the deathof the insured.

It appears that our terminology does littleto contribute to the consumer’sunderstanding and indeed, can bemisleading. On the other hand, theterminology “pure protection” does seemto communicate that the policy has noinvestment capital in it. The terminology“investment-related” does give theappropriate importance to the extracapital put into a life insurance policy by aconsumer whereas the permanent orcash values labels we use in the UnitedStates do not. Registered representativeshave been instructed by the NASD that,when dealing with variable life insurance,it is important to help the consumerdifferentiate between fixed and variablecontracts and:

The registered representative should alsobe able to clearly convey such informationto the customer so that the customer canmake an informed investment decisionregarding the recommendation.2

(Emphasis added by author.)

The “investment-related” terminology isespecially important when dealing with

Life Insurance in Retirement PlanningA New Regulatory Environment for Life Insurance?

Ben G. Baldwin, MSFS, MSM, RFC®



continued from page 22 Life Insurance in Retirement Planning

the typically very long-term investmenthorizon for life insurance — for life.Investment professionals, using the latestinvestment thinking and being subject totheir state Uniform Prudent Investor Act,recommend diversification and apply theprinciples of Modern Portfolio Theory(MPT) when dealing with consumerretirement capital. When we considerthat the capital within a life insurancepolicy is likely to be invested for a longerperiod of time than a person’s retirementcapital, we have to wonder when a similartype of “prudence” will be applied to thecapital within a life insurance policy.

U.K. and Australia Disclosure:A Guide for Our Future?

The FSA requires disclosure at both the broker/dealer, registeredrepresentative level and also at theproduct manufacturer level. Theregistered representative must disclosethe following to the consumer:

• Charges made for all products and services

• Their degree of dependence on their broker/ dealer or insurancecompany and the products theyprovide and approve

• Commissions on a continuum ofcompetitive products and/or servicesso that the consumer can judgewhether the costs to which they arebeing exposed are competitive or areinordinately high

It is reported that this last requirement inboth the U.K. and Australia has driven theinordinately high commission products outof the marketplace. Registeredrepresentatives in the United States arebarraged with e-mails daily fromcompanies about high-commissionproducts as the companies seek tomarket to them by appealing to the greedof the representative. Commissiondisclosure has also caused the consumerto judge the value of the services andadvice provided by the registeredrepresentative. Driving out inordinatelyhigh commission, consumer unfriendlyproducts sounds like a very valuableresult for those registered representativeswho are well informed, serious providersof quality advice.

At the manufacturer level, the lifeinsurance company must produce a “key features” document and disclosure of all costs built into their products,

including bothcommissions and any non-cash benefitsprovided. In order toprovide the consumerwith some way tojudge these costs, theFSA has taken it uponitself to publish tablesfor the most popularproducts showing themain product featuresand cost ranges sothat the consumer cancompare the costs inany product underconsideration withmarket averages. This disclosure hasserved to reduceproduct margins.

It appears that theU.K. and Australia areahead of the UnitedStates in providingconsumers with theinformation that theyneed to makeinformed decisionsconcerning thepurchase of financialproducts. A great dealof guidance may beobtained at theAustralian Securitiesand Investments Commission (ASIC)website, www.asic.gov.au/fsrpolicy. The Australian government has indicated that it will examine how toappropriately extend the new enhancedfee disclosure regulations to includeinvestment life insurance policies. The provisions are expected to requireproduct disclosure statements (PDSs) forcertain investment-linked financialproducts to include a standardized fees and costs template, an example ofannual fees and costs for a balanced orsimilar fund, and a boxed consumeradvisory warning.

Product issuers are asked to focus notonly on the technical contentrequirements that apply to PDSs, but alsoon the quality of the information beingprovided to consumers.

Consumers are to receive threedocuments providing disclosure prior tothe issuance of a financial product:

• The “Financial Services Guide” (FSG)to disclose the services the consumermay receive and the costs

• The “Statement of Advice” to disclosethe cost and independence, or lackthereof, of the advice

• The “Product Disclosure Statement”(PDS) provided by the productmanufacturer describing features,costs and a comparative context sothat the consumer can judge value3

The Financial Services Authority (FSA) of the U.K. provides consumer disclosurewith a manufacturer-produced “KeyFeatures Documents” (KFD), a “QuickGuide” and a “Key Features Illustration”(KFI).4 The Website of the FSA alsoprovides a consumer information sectionon “investment-type” life insurance thatinstructs the consumer as to what theyshould be receiving when considering aninvestment-related life insurance policy,with examples and explanations.

What Is Next for the United States?

The point-of-sale-disclosure documentwould have to be a “no-nonsense

continued on page 24The Register • December 2006 Page 23

continued from page 23 Life Insurance in Retirement Planning

disclosure that consumers could actuallyunderstand,” said Mr. Poolman, who ischairman of the Kansas City, Missouri-based National Association ofInsurance Commissioners’ lifeinsurance and annuitiescommittee.5

Practical, understandableuseful information is the key.As Charles Ratner says in hisarticle: Disclosure andsuitability requirements shouldbe sound, practical, and useful.Otherwise, buyers will be sooverwhelmed with informationthat they will become confusedand frustrated.6

It is reported that the NASD hascreated working groups todevelop disclosure statements.One has to ask if the NASD hasthe resources and the will todeal with such an effort. After all, it ismade up of organizations that live in therelatively opaque compensation world ofcommissions and overrides. The NASD islikely to attack such a project with a lackof enthusiasm, which is probably anunderstatement. Also, the NASD has amajor problem with its credibility and alack of respect from those it seeks toregulate. A petition was submitted to the NASD in April 2006 signed by more than 400 member firmscomplaining of its use of threats andintimidation to extract settlements.

The NASD has lost sight of the fact thatsanctions were designed to be remedial,not punitive,” said the former NASDlawyer in the Southeast.7

It seems to me that the NASD would be better advised to ask an organizationof financial professionals, outside of the NASD and not intimidated orregulated by the NASD, to spearhead an initiative to provide practical and useful disclosure and suitabilityrequirements to the consumer. Theobjective of this work would be to enable that consumer to make aninformed decision regarding anyrecommendation. I believe that theSociety of Financial Service Professionals(Society of FSP) would be the appropriateorganization to spearhead such an effort. This organization seeks to advance the professionalism of itscredentialed members in diversedisciplines so that they may better servetheir clients’ financial needs. SFSPmembers have earned or are working

toward one of the following recognizedprofessional credentials in the financialservices profession:

The Alternative

There is a tremendous upside for theNASD to have sound, clear, consumer-friendly disclosure and suitabilityrequirements. It would mean lesssuitability-based litigation to theirmembers because consumers would befully informed, warts and all, prior tobuying. There is also a tremendousdownside should the NASD continue in itscurrent paradigm of regulation.Broker/dealers and financial productcompanies cannot escape the regulationof the NASD but registered representativescan, and are, by choosing to not beregistered representatives and insteadchoosing to be registered investmentadvisors under their state securitiesregulators or the SEC. Many of us haveretained our registered representativestatus because that was the only way wecould access and service the financialproducts needed by our clients. However,as the world of no commission, low-loadproducts, available directly from themanufacturer to the consumer, grows (andit is growing), many of us will choose to bepaid directly by the consumer for theadvice and guidance we provide and willdirect our clients to the no-commission,low-load providers of financial products forthe products they need. We will expectthose companies to provide fiduciary-friendly, sound, practical and usefuldisclosure and suitability guidance. NASD,it is time to put down the regulatory stickand get back to making sure thatconsumers get the information they needto make informed decisions.

Acknowledgement

My thanks to Ernst & Young, theirmagazine for financial servicesexecutives, Cross Currents, andthe fine article by Charles RatnerCPA, Disclosure and Suitability:What Might the Future Hold? fromwhich this column (for which I amentirely responsible) springs.

End Notes

1Charles Ratner, Disclosure andSuitability: What the Future MightHold, Cross Currents: TheMagazine for Financial ServiceExecutives, Winter 2005-2006, at2-7. 2NASD Notice to Members 00-44,July 2000, Variable Contracts, The NASD Reminds Members OfTheir Responsibilities RegardingThe Sale Of Variable Life

Insurance, at 302.3PS 168, Disclosure: Product DisclosureStatements (and other disclosureobligations), Ch. 7—Financial services andmarkets, Reissued May 2005; Previousversion: Superseded Policy Statement 169 [SPS 1 68] www.asic.gov.au/fsrpolicy.4Financial Services Authority of the UnitedKingdom Library found at www.fsa.gov.uk5Sara Mansard and David Hoffmann,NASD: Disclosure Needs to Be a Priority,Investment News, at 2,www.InvestmentNews.com. 6Supra note 1, at 5.7Dan Jamieson, NASD Probes Harassment

Ben G. Baldwin CLU, ChFC, CFP®, RFC® , isthe author of many books on lifeinsurance in financial planning and thefirst recipient of the Loren Dunton Award.Ben will again be one of the featuredspeakers at the 2007 Forum. He may bereached at: [email protected] 847 870 1645

Journal of Retirement PlanningThis article is reprinted with thepublisher’s permission from the Journal of Retirement Planning, a bi-monthly journal published by CCH, a Wolters Kluwer business.Copying or distribution without thepublisher’s permission is prohibited. To subscribe to the Journal ofRetirement Planning or other CCHJournals please call 800 449 811 4 orvisit www. CCHGroup.com. All viewsexpressed in the articles and columnsare those of the author and notnecessarily those of CCH.


CEBS® Certified Employee Benefits SpecialistCFA® Chartered Financial AnalystCFP® Certified Financial PlannerChFC® Chartered Financial ConsultantCLF® Chartered Leadership FellowCLU® Chartred Life UnderwriterCPA Certified Public AccountantCTFA Certified Trust & Financial AdvisorJD Juris Doctorate w/License to PracticeMSFS MS degree in Financial ServicesMSM MS degree in ManagementREBC® Registered Employee Benefits ConsultantRHU® Registered Health Underwriter

SFSP Credentials

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Early bird deadlineDecember 31

Financial Advisors Forum 2007

www.IARFC.org

The Forum at a Glance

Tuesday, May 15Registration Desk Open 8:00 - 5:00

Workshops A, B & C 8:30 - 9:50

Workshops D, E & F 10:00 - 11:30

Exhibition & Buffet Luncheon 11:30 - 1:00

Opening Ceremony 1:00 - 1:30

Keynote Speaker #1 1:30 - 2:20


Exhibition & Refreshment Break 3:20 - 4:40


Reception in Exhibition Area 5:30 - 7:00

Wednesday, May 16Exhibition & Continental Breakfast 7:30 - 8:30





Exhibition & Buffet Luncheon 12:00 - 1:30

Workshops G, H & I 1:30 - 2:20

Workshops J, K & L 2:30 - 3:20



Reception in the Exhibition Area 5:00 - 6:00

The Loren Dunton Award Dinner 6:00 - 8:00

Thursday, May 17Continental Breakfast 7:00 - 8:00

Workshops M, N & O 8:00 - 8:50

Workshops P, Q & R 9:00 - 9:50

Refreshment Break 9:50 - 10:10




Optional Pre-Forum WorkshopsMonday Morning: Retirement Income Planning Afternoon: Advanced Estate Planning workshopAll Day: Practice Builder Financial, Software User WorkshopAll Day: Plan Builder Financial, Software User Workshop

Las Vegas 2007 IARFC Financial Advisors Forum

Finding Security in an Uncertain World

Our Eighth “Financial Advisors Forum” coversthe latest developments in the field of estateplanning, retirement planning, income taxplanning, investments, insurance, marketingand practice management. Joining us will bedistinguished “all star” presenters, includingmany Register authors, providing you withcutting-edge information and strategies.

Our theme, Financial Security in an Uncertain World reflectsthe concerns of your clients - having the confidence of financialadequacy. The Forum will be a professionally rewarding andpersonally enjoyable educational experience. I am lookingforward to seeing you in Las Vegas….

Sincerely,

H. Stephen BaileyIARFC President

Pre Forum Sessions May 14thPlanning Retirement Income For A LifetimeMichael Zmistowksi, RFC®

Retirement Income Management is complex andthere is no single product solution or “one size fitsall” strategy. This course, developed jointly by theInternational Foundation for Retirement Education(InFRE) and the National Association of Variable

Annuities (NAVA) will help you recognize how retirement distributionplanning is different from retirement accumulation planning;managing income over a period of uncertain length and expense;how the definition of risk changes during retirement, and incomeallocation. Learn the six-step process to create a retirement incomeplan; the four greatest risks retirees face and the tools to managethem; how to identify and manage a client’s total retirement assets;why traditional income calculations and assumptions areinadequate; when and how to liquidate assets how to create secureincome that last a lifetime and how to create an incomemanagement plan for individual clients.

Estate Planning — Maximizing TechniquesCharles Matthews, JD, CEP, RFC®

The Future of Estate Planning: The Revocable LivingTrust Teamed with The Beneficiary Controlled Trust.This session will cover the Fundamentals ofComprehensive Estate Planning for Non-Lawyers. Adiscussion of the Unauthorized Practice of Law, the

Essential Estate Planning Documents needed by all your clients, anda very insightful discussion on Revocable Living Trusts Compared toWills, followed by Action Techniques for Settling an Estate.

Plan Builder One-Day User TrainingThis one-day workshop covers how to build a comprehensivefinancial plan to motivate client action. You will learn to:

• Get information from prospects• Streamline data input• Solve client’s needs as they watch!• Motivate clients to take action• Customize financial plan structure• Learn new features and flexibility• Assemble professional looking plans

Learn how to use Plan Builder’s powerful features to create a planthat justifies a fee and stimulates immediate client action.

Plan Builder One-Day User TrainingThis one-day program fully involves you in the techniques andpractice for the complete utilization of Practice Builder explore:

• Implement your “Best Practices” to targeted clients, prospectsand referrals with less demand on you and your staff

• Effectively use the client/prospect, categories, preferences andmemo screens

• Implementation of the Referral Marketing SequenceThis workshop covers lots of ground from the strategic questionslike, “What can I produce quickly?”

Networking with Leading AdvisorsThe Forum brings together financial advisors from around theworld for three action-packed days of sharing information,building knowledge, marketing success techniques andnetworking with the leaders of financial services.

Educational EventsIARFC’s annual conference and exposition features educational programs for all levels of experience. Expositionswill showcase the latest financial services and products andfun activities where you can meet other professionals. You willgain new business ideas, make contacts, see prospectiveresource providers, learn new planning design techniques andexplore ways to promote your business. If you’re seeking tobuild your financial advisor practice, the knowledge can befound at the Financial Advisors Forum.

Program Schedule — May 15-17The Forum opens Tuesday, May 15 with workshops at 9:00 am.The opening ceremony will begin at 1:00 pm. All attendees will enjoy the Tuesday opening night reception and there willstill be time to catch one of the fabulous Las Vegas shows.Wednesday will feature outstanding presentations and a varietyof breakout sessions.

Other Financial Forum HighlightsJoin us Wednesday evening for the Annual Loren Dunton AwardDinner - an opportunity for financial advisors to network andhonor Loren Dunton. You can visit with the prior recipients, andof course, congratulate the distinguished 2007 recipient of theAward — whomever it may be….

Schedule Now!Register now to spend these three days — to vitalize your yearand revolutionize your practice.

Featured Speakers Session Descriptions

Financial Advisors Forum — Bally’s Las Vegas

Matching LTC Options for the More-Savvy Prospect & ClientWilma Anderson, RFC®

It’s time to learn how to fine-tune your selling skillsfor the more-savvy prospect and client! Skillfullymeet the needs of the 50 year olds who may notsee the need for LTC right now, learn how to open

the Group sales market in your area, and learn how to offer thenon-traditional plans to the 60 or better-aged client/prospect.Wilma’s presentation at the 2006 Forum revealed why she isrenowned as the LTC Coach.

Investment Policy StatementsNorman M. Boone, CFP®, MBALinda S. Lubitz, CFP®

Authors of “Creating an InvestmentPolicy Statement: Guidelines andTemplates” and the co-founders ofIPSAdvisorPro.com will provide

insights about how the use of an Investment Policy Statement, asthe key step in your investment process, can help you satisfycompliance requirements as well as help you serve your clientsbetter and raise the bar in your marketing efforts. They’ll also besharing some new tools you can use to do this more effectively.

Learn How to Sell and Market the Fastest-SellingInsurance Product in the WorldAlphonso Franco, RHU, RFC®

Your clients need Critical Illness Insurance, quitesimply because they are exposed to terrible risksthat they do not totally appreciate. Understand thestatistics and learn why and how to guide your

clients in making an informed choice to become better protected.Franco creator and founder of the The World Critical IllnessInsurance ConferenceTM and author of the first Critical IllnessInsurance manual, The Critical Vision SystemTM.

Survey of Client Risk ToleranceJohn E. Grable, Ph.D., CFP®, RFC®

How do financial consultants incorporate a client’srisk tolerance, risk capacity, and time horizon intofinancial planning recommendations? Thispresentation reviews findings from a focus groupsurvey of IARFC members that was designed to

help answer this important question. Attendees can expect a livelydiscussion that will help them better manage their consultant-client relationships and develop asset allocation strategies thateffectively meet client goals.

Stock Market Risks and OpportunitiesTed E. Harris, RFC®

A historical perspective on making investmentdecisions and why it is important for your clients tokeep invested, and to reflect the advice ofknowledgeable advisors and experts in doing so.Learn the value of humor in the market from a

principal and director of the $23 billion Transamerica Investments.

Hedge Funds — If Everyone’s In… Is It Time to Get Out?Bill Keller, RFC®

Learn about the pros and cons of hedge fundsfrom William H. Keller, a principal with ChannelTrend, Inc one of the top 6 independently rankedstock research firms in the nation. Keller, one of

the founders of Channel Trend, Inc. based in Dallas, TX will presenta enlightened overview of this highly popular, yet misunderstoodinvestment area.

Life Insurance in the Financial PlanBen G. Baldwin, CLU, ChFC, CFP®, RFC®

Mixing compliance issues in with very positive life insurance education and motivation may sound difficult but Ben Baldwin does it. He provides educational sessions on life insurancefor agents and advisors who assist people in

the purchase, ownership and management of life insurance. His sessions are appropriate for registered representatives and those providing assistance to consumers with all forms of life insurance, especially variable universal life. Ben willdemonstrate the many ways his clients integrate VUL contracts into their long term financial plan successfully and profitably with case study presentations.

The Tidal Wave of Boomers Driving Our EconomyRodney JohnsonIn economics classes, students draw nice graphsshowing how demand changes with price, but that’snot the real world. Instead, demand changes withwhere the consumer is in his personal economic lifecycle. By combining spending patterns, economic

life cycles, and demographic trends, we can estimate what is aheadin our economy, thereby allowing investors and advisers to preparenow for what is around the corner!

Integrating Fiduciary Standards of CareDavid Lawrence The financial services industry, rocked by severalfinancial scandals over the past several years, hasbeen steadily moving toward acceptance offiduciary status for its practitioners. This session willfocus on what financial advisors can do to take

advantage of the unique aspects of working as a fiduciary for theirclients with the goal of creating a more efficient and therefore moreprofitable practice with higher levels of client retention.

Financial Plan CompetitionDerek D. Klock, MBA, RFC®

An important missions of the IARFC is to groomprospective membership into organization andindustry leaders. The IARFC Financial PlanCompetition does that as the four-month longcompetition concludes with the presentation of the

three “finalist” plans by the student teams. The selection of thewinning plan will be determined by the audience.

Featured Workshops

Secrets to SuccessfulInternet MarketingSteve AndersonGain new insights into the powerof Internet marketing to growyour practice. Online marketingoffers you basic steps that you

can take to increase traffic to your site. Sixmajor areas provide benefit opportunities fromthe power of this marketing channel. They are:1. Keywords — what they are and how you usethem 2. Site Content — why you need to makeyour site useful, comprehensive, and keyword-rich 3. Submissions to Search Engines andDirectories 4. Link Strategy — to increase thenumber of relevant, incoming links 5. PaidSearch -- the small ads that appear on searchresults pages 6. E-mail Marketing — how tomake it work.

Prospect or Perish or SucceedDavid Cohen, CLU, ChFC, RFC®

Prospecting is the continuousactivity of exploring for andqualifying new people to meet

with concerning your business. Learn how tofind the best prospects in order for you toexpand your practice.

David is the author of the Prospect or Perishtext that will be part of the new RFCcurriculum in the Client Acquisitioncomponent.

How to Turn the Worst PayingHard Business into the BestPaying Easy Business Roey Diefendorf, ChFC, CLU,CIMA CFP®, C3DWP®, RFC®

Create a “total” wealthmanagement firm based on

relationship selling by:

Using Tension Jiu-jitsu To Combat SluggishSales; Building A Home Court Advantage; On-Purpose Prospecting Through Positioning &Identity Building; Pre-Approaches Using a SocialStyles Identification System; The Heat SeekingRecommendation Method; The Hierarchy ofPlanning; Becoming a “Values Based” Advisor.

Each of these nuggets of gold will be worth morethan hitting 7-7-7 at the Golden Nugget Casino.

Case Studies in EthicsAn Interactive SessionDavid Lawrence, AIF®

Ethics in the Real World: Case Studiesin Ethical Dilemmas Faced by theFinancial Planning Professional —Rave reviews abound for theseentertaining and interactive discussions.Review ethical decisions and behavior,ethics versus morality, inherentconflicts, ethical dilemmas in commonsituations, individual judgment andreasoning, and accepted approachesand applicable codes.

This is a fascinating topic since the choices of appropriate action are not always clear at first. This two hour session meets the qualifications for the CFPEthics requirement.

This session will not be the typicallisting of Cannons of Ethics. Instead itdeal with actual (slightly modified)cases. It was developed in conjunctionwith the Tampa Financial PlanningAssociation and has received ravereviews. You will enjoy this interactivepresentation ad benefit from taking anew perspective on Ethical issue inpersonal financial planning.

More Effective Uses of RealEstate Equity Randy Luebke, RMA, RFC®

Learn why your clients may beendangering their liquidity andtheir long term growth bykeeping all their equity locked

up in real estate. How to recognize andcorrect these problems — presented by theauthor of our new Registered MortgageAdvisors designation program.

Financial Physics 101 -Converting Solids intoLiquidityBurnett Marus, RFC®

A survey of IRS filings foundthat 56.3% of assets held byfilers with a net worth between

$600,000 and $1,000,000 was illiquid. Over$7.4 trillion is held in “illiquid assets”. Themarket for illiquid wealth represents anuntapped reserve of assets. Advisors wholearn how to identify and manage such assetswill increase in the bottom line for their clientsand their practice. Ask questions beyond thetypical “How much is in your brokerageaccount?” Differentiate your practice and helpyour client convert tangible assets intoincome-producing capital assets.

Closing the Fee-BasedEngagementEd Morrow, CLU, ChFC, CEP, CFP®, RFC®

There is great value to theadvice and service offered by the RFC — but it is often

under-priced and under-delivered. The main reason advisors receive inadequate fees is that most do not have a system forpresenting the need for a financial plan.Learn how to use the Client Buildertechniques and ancillary services to charge higher fees, deliver quality planningservice, and support the process with duediligence and efficient practice. You will getthe tools and the techniques to dramaticallyincrease your fee revenue.

The New Uniform Trust CodeEdwin P. Morrow, III, JD LLM, RFC®

Sweeping across the country is the adoption of new laws with respect to the adoption, administration and

management of trusts. These laws even affecttrusts drafted long before enactment. If aversion of the Uniform Trust Code has not yetbeen adopted in your state, it may be comingsoon. The UTC has several provisions thatmake it easier to correct mistakes and yes,even amend “irrevocable” trusts. It also hasimportant compliance concerns for individualtrustees. Learn how you can recognize newopportunities with old trusts and use thechange in law to attract new clients.

Featured Workshops

Professional Education andDesignation PreparationHenrietta Nye, CLU, CFP®, CPCU

This session will be an overviewof educational and the manybenefits of professional

designations and licenses for financialplanners and insurance representatives.Those in supervisory roles will receivespecifics for motivating personnel to pursuefurther education.

Henrietta’s firm, Keir Educational Resourceshas helped many thousands of financialadvisors advance their knowledge and qualifyfor professional designations.

Education Planning Analysis& TechniquesKenneth Mattern, REP, RFC®

Richard Norton, CLU, CFP®,RFP, RFC®

Education Planning Analysis &Techniques addresses theprocess and procedures ofplanning to prepare and pay fora college education. It is a veryemotional subject and canimpact retirement planningnegatively. The subject ofpaying for an education must

always be approached with the parents’retirement in mind. The use of Tax Scholarshipsand asset ownership techniques is vital.Education Planning is a great practice buildingand Community Service opportunity!

You Need a Virtual Advisor inYour Practice Bill O’Quin, CLU, ChFC, RFC®

The Virtual Sales Assistant isthe “most compressive salessupport tool in the industry”and has been described as an

“interactive library.” However, it is really aknowledgeable virtual advisor that can puteverything you need to operate a financialpractice at your fingertips. Learn how toprospect easier and sell more!

This presentation will illustrate just how easyit is to tap all these resources swiftly — usingyou computer as a real library and aninteractive resource.

Living Benefits of Variable AnnuitiesRosilyn Overton, MS,CFP®,RFC®

Variable annuity enhancementsguaranteeing lifetime income or a withdrawal benefit are

popular with any clients traumatized by 40-60% drops in the market in 2001-2004.But regulators still don’t like VAs. How shouldyou cope with this?

When is the additional cost of a variableannuity worth it? Since benefits vary fromcompany to company, how can we match theclient with the most appropriate annuity orother product for an ethical sale?

Reducing Financial Planner LiabilitiesJerry L. Reiter

Understand Your Professional Liability. Financial Professionals are the#1 litigious target in America.

The majority of claims are groundless. Learnthe strategies to prevent and successfullydefend a litigious attack. Understand thelitigious issues facing today’s FinancialProfessional with solutions to prepare for andprevent a attack from a client or regulatoryagency from wiping out your firm or spoilingyour retirement.

Creating Hispanic MillionaireClients (and/or Advisors?)Ruben Ruiz, ChFC, CLU, CSA® MSFS, RFC®

Are your clients on track toreach the ‘Million Dollar NetWorth’ goal or more? Help

Hispanic and other clients reach theirfinancial goals through the ‘Fantastic Four’Opportunities: Real Estate, Business, TheMarket, Retirement Plans. Success requirestwo parts; The ‘Technical’ or logical parts ofeach investment or opportunity and theProgramming’ part. Financial ‘blueprints’ arebased on all you have learned or ‘modeled’throughout your life. Increasing Net Worth,requires a change of the financial ‘blueprint’.

Nurturing Clients Will Lead to Great SuccessFrances Scott

Join Frances as she shares herexpertise on how relationshipcommunications can help yougain ground in today’s changing

business environment. This interactivesession is for highly motivated professionalswho want to see their customers flourish, andtheir prospects respond. Communicationstrategies that work and work for life. Adopt amarketing strategy that maintains distinct,ongoing, collaborative business relationshipswith customers and those who influence thegrowth of your practice. Explore the funtechniques of Nurturing.

Building the Plan for High Net Worth ClientsDavid M. Stitt, CLU, ChFC, CEP, CFP®, RFC®

High Net Worth clients havedifferent concerns thanmoderate clients, but they

similar questions. This session will show youhow to build a plan that will motivate them totake action. David will also discuss how toprovide enough information for their otheradvisers to help with implementation. Yes —high net worth clients need graphics! In facttheir shorter attention span makes graphicdelivery even more important, and you’ll seejust how easy it is to use dynamic graphics inthe interview.

Technology and Your PracticeJ. Mark Terrett, RFC®

Is technology a love/haterelationship for you? MarkTerrett has worked withadvisors from all backgroundsto help them implement

systems to improve their practice. In thissession, Mark delivers easy steps to followwhen you consider the benefits of technology,such as the new Microsoft Office Suite andVista Operating System. From customerrelationship management or personalfinancial planning with Monte Carlo all theway to your telephone system — there aretechniques that will help. Join this discussionbefore your next technology upgrade!

Financial Advisors Forum 2007 Registration

Bally’s Las Vegas 2007

♦ Registrant Information (please only one attendee per form)

Name _________________________________________________

First Name on Badge ____________________________________

Companion Name _______________________________________

Designations ___________________________________________

Company ______________________________________________

Address _______________________________________________

City_________________________ State______ Zip ____________

Country _______________________________________________

Phone_______________________ Fax ______________________

E-mail _________________________________________________

♦ Registrant Tuition

Very Early Bird, Before 12/31/06 $450

Early Bird, Before 1/31/07 $495

Regular Rate, after 2/1/07 $595

Spouse/Companion Rate $250

Dunton Award Dinner $ 30

Dunton Award Dinner, companion $ 30

♦ Pre-Forum Workshop Registration

Planning Retirement Income for a Lifetime (a.m.) $495

Estate Planning — Maximizing Techniques (p.m.) $375

Practice Builder CRM user training (all day) $375

Plan Builder software user training (all day) $375

♦ Save tuition with “Sign-Up-A-Colleague”

Receive a $50 rebate for one nominee who signs up for theFinancial Advisors Forum. I hereby nominate:

Name _____________________________________________

Phone_____________________________________________

Fax: 513 424 5752E-mail: [email protected]: 800 532 9060Mail: P.O. Box 42506

Middletown, OH 45042-0506Website: www.IARFC.org

♦ Indicate Method of Payment

Check (Please make payable to: IARFC)

MasterCard Visa Amex Discover

Card Number_______________________________________

Exp. Date __________________________________________

Account Address (if different from above) ___________________

__________________________________________________

Signature __________________________________________

Date ______________________________________________

♦ Hotel Accommodations

Special room rates using Forum code: IARFCReserve your room for only $125 per night.You may extend your stay to enjoy the same low rate.

Phone: Bally’s Reservations — 800 523 9126Online: https://www.harrahs.com/CheckGroupAvailability.do?

propCode=BLV&groupCode-SBIAR7

♦ Additional Conference InformationRegistration Location: South Tower, Second Floor.

Registration Includes: Continental breakfasts, Luncheons, Reception andadmission to all session, workshops, and Exhibits.

Continuing Education Credits: Each state has different insurance andsecurities CE regulations. This event has not been pre-registered for CE.Varying credits will be available for IARFC, CFP, PACE, and state credits,depending on sessions attended.

Recommended Attire: Business casual is appropriate. For your comfort,we encourage long sleeves or a light sweater as inside temperatures canoccasionally fluctuate. No jeans, tennis shoes or T-shirts please. A jacketis optional, but recommended, for the Dunton Award Dinner held onFriday evening.

Cancellation: A refund (less 20% administration fee) will be made ifnotice of cancellation is received in writing three weeks before the event.We regret that no refunds can be given after this period. A substitutedelegate is always welcome at no extra charge.

Disclaimer: The program may change due to unforeseen circumstances,and IARFC reserves the right to alter the venue and/or speakers. IARFCaccepts no responsibility for any loss or damage to property belonging to,nor for any personal injury incurred by attendees at our conferences,within the conference venue.

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IARFC Cruise ConferenceAugust 17 — 24, 2007 Join us for CE at Sea!

Vancouver, British Columbia cruising to Seward, Alaska on the award-winning luxury Celebrity Ship — Summit

Towering snow-capped mountains, rushing streams, bears fishing for salmon and soaring eagles - the pride of the nation. The movies you’ve seen and the books you’ve read about Alaska are only a fraction of what awaits you on the IARFC cruise conference. You will combine continuing education, professional networking and create new and enduring friendships.

Catch the Alaska Gold Rush fever that stimulated the “Shooting of Dan McGrew.” Standing at the foot of giant glaciers you will finally understand the longing that inspired the haunting poem “The Cremation of Sam McGee.” Jack London’s epic “Call of the Wild” will become your song and you’ll feel the emotions of the beloved American poet, Robert Service, who wrote: “It’s the beauty that fills me with wonder; it’s the silence that fills me with peace.”

This is the one conference you’ll never forget. Distinguished SpeakersJim Rogers, incoming president of the MDRT, will explain how he built his firm using principles of Effective Practice Management.Norm Boone and Linda Lubitz, authors of the IPS Advisors Pro, will explain, How to Deliver Quality Investment Policy Statements.Forrest Wallace Cato, respected editor, image and Media Advisor will coach the participants on Creating a Powerful Image & Brand.Ed Morrow, CEO of the IARFC will present and deliver all the software tools to enable you to dramat-ically Increase Your Plan Fee Income.Frances Scott, founder of Nurture Services and consultant to marketing firms, will reveal the Power of Consistent Professional Contact.Jeffrey Kelvin, JD, compliance expert , head of Financial Planners Assistance Corp, will review Actions to Avoid Regulatory Problems.Charles Matthews, Executive Director of NICEP and former President of the Estate Plan will cover Maximizing Estate Distribution in 2007.Roey Diefendorf, How to counsel families as they implement a mission-based strategy and plan, Financial Transitions of the Wealthy.Lew Nason, coach and advisor of the Insurance Pro Shop, attracting higher quality prospects with Successful Joint Marketing Techniques.Panel Discussion - actions to produce maximum results for Enhancing Your Credentials.

Our Cruise Itinerary Date Port/City Activity Arrival Departure

Fri, Aug 17 Vancouver, BC Departure 5:45pm

Sunrise Deck—onboard Reception 6:30 pm 7:30 pm Edge of the Earth Lounge

Sat, Aug 18 Inside Passage CE & Cruising Class will be 8:30 — 1:00

Sun, Aug 19 Ketchikan, Alaska Docked 7:00 am 3:00 pm

Mon, Aug 20 Juneau, Alaska Docked 8:00 am 10:00 pm

Tue, Aug 21 Skagway, Alaska Docked 7:00 am 8:30 pm

Wed, Aug 22 Icy Strait Point, Alaska Tendered 7:00 am 5:00 pm

Thu, Aug 23 Hubbard Glacier Bay CE & Cruising Class will be 12:30 - 5:00

Fri, Aug 24 Seward, Alaska Arrival 3:00 am

Software Workshop OpportunitiesWe are prepared to present Workshops for interested Cruise/Conference attendees on the effective use of Plan Builder Financial software to produce fee-based high caliber comprehensive personal financial plans that lead to product sales, and on the use of Practice Builder Financial to manage your clients, increase communications, schedule client service more effectively and start the process towards a paperless operation.

Saturday, Aug 18 — 5 CE Credits

9:30 am – 9:40 am Introduction and Distribution of Materials 9:40 am – 10:30 am Session 1 Speaker No. 1 10:30 am – 11:20 am Session 2 Speaker No. 2 11:20 am – 12:10 am Session 3 Speaker No. 3 12:10 am – 12:20 am Break 12:20 am – 1:10 pm Session 4 Speaker No. 4 1:10 pm – 2:00 pm Session 5 Speaker No. 5

Thursday, Aug 23 — 5 CE Credits

12:30 pm – 12:40 pm Introduction and Distribution of Materials 12:40 pm – 1:30 pm Session 6 Speaker No. 6 1:30 pm – 2:20 pm Session 7 Speaker No. 7 2:20 pm – 3:10 pm Session 8 Speaker No. 8 3:10 pm – 3:20 am Break 3:20 pm – 4:10 pm Session 9 Speaker No. 9 4:10 pm – 5:00 pm Session 10 Speaker No. 10

Conference schedule and speakers are subject to changes and confirmation from Celebrity Cruise line and IARFC conference management.

Cruise rates are in U.S. dollars, per guest, based on double occupancy. Government taxes, fees and air transportation are additional.

My signature indicates that I have read the cruise/conference policies and fully understand the charges involved, and if requested above, I am autho-rizing the amount indicated to be charged to my credit card. I agree to the terms and conditions of the IARFC Cruise/Conference refund policy.

IARFC Cruise Conference

Get Your CE at Sea

Vancouver, British Columbia to Seward, Alaska August 17—24, 2007 on the award winning Summit Celebrity Ship. Appropriately named, Summit will leave you feeling as if you’ve reached the absolute pinnacle of premium cruising. Large in size, yet intimately elegant in ambience, Summit boasts all the services and amenities that have made Celebrity the preferred choice of avid cruisers around the world. Come aboard and scale the heights of luxury on Summit.

This cruise features the most famous of Inside Passages in the world, virtu-ally everything you come to Alaska hoping to see, including rain forests, gla-ciers, fjords, American Eagles, bears and majestic white-capped peaks. All of which create a setting that’s perfect for viewing whales and sea lions.

� Vancouver, British Columbia � Juneau, Alaska

� The Inside Passage � Ketchikan, Alaska

� Icy Strait Point, Alaska � Seward, Alaska

� Skagway, Alaska � Glacier Bay

Professional Continuing Education. The presenters and the attendees will be among the most elite in the financial services profession: authors of many books, articles and popular speak-ers. You will spend seven exciting days and evenings in the com-pany of the world’s leading professional advisors.

Optional Pre and Post Tours. You can extend your trip in the beautiful city of Vancouver, in Anchorage or take the scenic train to Denali Park.

Airfare is not included in any of the quoted cruise prices. Consider using your frequent flyer credits. Contact Talgood Travel for airfare and the pre– and post– cruise options at: 877 651 9997

Deposit of $500 per person to secure space availability for a stateroom. Final payment is due May 25, 2007.

Cruise and IARFC Registration Refunds. Until April 1 — 25% penalty. April 1 - June 6 penalty of 40%. June 7 - July 15 - 50% penalty. After August 8 non refundable. You can purchase insurance (through Talgood or another agent) to cover unfore-seen medical circumstances that might require trip cancellation.

Port Charges and Government Fees. Presently $295. These charges are subject to change and beyond our, or Celebrity Cruise Line’s control or authority.

� Number of Adults in your party: _____

� Number of Children in the party: _____

� Royal Suite & Veranda, $4,530 _____

� Sky Suite with Veranda, $3,030 _____

� Balcony, Concierge Svc. $1,780 _____

� Balcony, Traditional Svc. $1,630 _____

� Oceanview, windowed, $1,280 _____

� Interior Cabin, no window, $930 _____per guest, based on double occupancy

� Port & Government Fees, $295 _____

� Airport Transfer (optional)� Seattle $139 � Vancouver $99Fees & Transfers are per person round trip based on 2006 pricing and subject to change.

Subtotal: ___________

Less Deposit: ___________

Balance Due: ___________Deposit $500 Per Person

Name exactly as it appears on your Passport Address

Companion Name exactly as it appears on Passport City, State, Zip

Phone Country

Your Preferred Salutations - for our Name Tags E-mail

Credit Card Number Expiration Date

Method of Payment� Check payable to the IARFC � Visa� Discover � MasterCard � American Express

Signature

The International Association of Registered Financial Consultants

Phone: 800 532 9060Fax: 513 424 5752E-mail: [email protected]

www.IARFC.org

Imagine yourself here watching the glaciers calve and the whales jumping.

� I am interested in Cruise Insurance. � I am interested in a Luxury Suite.

Ports of Call and Side Trip OpportunitiesThe Inside Passage. One of the most beautiful waterways in all of the world. It features virtually everything you came to Alaska hoping to see, including rain forests, glaciers, fjords and white capped peaks. All of which create a setting that’s perfect for viewing whales and sea lions.

Juneau. Alaska’s capital city, boasts the Mendenhall Glacier, a meandering river of compressed blue ice that is 1.5 miles wide and hundreds of feet thick. It’s fed by a 1,500 square mile ice field that is located just outside of the thriving city of Juneau.

Icy Strait Point. The Summit will pause fifty miles west of Juneau at the mouth of Glacier Bay. Travelers have the unique opportunity to experience Tlingit culture, enjoy the superior wildlife viewing opportunities, and absorb years of fascinating Alaskan history.

Ketchikan. The ancestral home of the Tlingit Tribe, and the departure point for seaplane excursions bound for the wild 2.2 millions acres of Misty Fjords National Wilderness. You can also visit the Saxman Native Totem Village, featuring the world’s largest collection of totem poles.

Skagway. With its saloons and dance hall review, this small village has managed to preserve a strong connection to its historic Gold Rush days and the legends of Jack London. You’ll feel as if you are ready to pan for gold — and in fact, you can do so while you’re here in Alaska.

Hubbard Glacier. The one glacier in the world that does not move at a glacial pace. Boasting the largest tidewater glacier on the North American continent, the Hubbard Glacier moves an average of 5.5 feet per hour. Keep a watchful eye for whales as you sail through the Yakutat Bay.

Pre-Cruise. Take a scenic bus or train from the cowboy city of Calgary to Banff National Park, Kamloops, visit the scenic mountains of Whistler and join the Cruise in the garden city of Vancouver, BC.

Post Cruise. — from Anchorage past Mt. McKinley, the highest point in the Americas, through the fir forest of Denali Park take the slow train on to Fairbanks near the Arctic Circle — the land of the midnight sun.

Financial professionals helping people do a better job of spending, saving, investing, insuring & planning

the

International Association of Registered Financial ConsultantsFinancial Planning Building - 2507 North Verity ParkwayP.O. Box 42506 - Middletown, Ohio 45042

phone800 532 9060

fax513 424 5752

[email protected]

webwww.IARFC.org

Members WhoRecommended New

IARFC Members

James BoylanDale Carey

Joseph W. JacquesLew NasonBill Nelson

M. A. OwensKenny ParkerChester PeachClark PermannCasey Pinckard

Jeff RattinerSaul Simon

Referror of the MonthM. A. Owens

New RFC, RFA and RFM Members

Stephen J. Barbe’ TNBarry K. Barbernell MI

Frank M. Betsch PAJ. Mike Biggs TX

Tammy T. Boseman NCNiall D. Bridgeman VA

Matthew T. Bumstead WAJohn D. Cornillez HI

Scott Cameron Doner TXRicky K. Einspahr NE

Mark M. Fogg FLKacy J. Gambles PA

Justin Geller NYSteve D. Gifford KYLarry S. Golub VA

David R. Guttery ALThomas J. Hale WA

Igor Harlap PARonald L. Hendren MO

John A. Hicks TXWilliam DeLong Jacques MD

Peter M. Kallenberg FLStewart Kaplan VAKathy J. Koch NE

Catherine A. Leiferman SDAmine R. Mabsout CA

Raleigh Makarechian CO

Recommend a new RFC member! Just call 800 532 9060and we’ll send a complete information package on RFC.

David W. Martin TXLarry B. McCutcheon CA

Lance Andrew McGraw AZDale McLeod Trinidad

Nina J. Mendall MEJennifer S. Nohelty WIJohn Olaf Nysather ILDonald L. Oldham INNancy J. Onderko FLJoshua A. Parke WA

Delothmar Parray TrinidadMichael Payne FL

Mark A. Roberts OHAnn Kilmer Robinson TXHarold A. Schwartz CO

Marc E. Simon NJMarcia A. Smith AL

Anna Maria Spurgin INRichard J. Staszak PA

Wesley P. Sykes INAndy Tate MN

Sekhar Chandra Vemparala NJRobert P. Villarreal CAMarvin D. Waider CA

Richard K. Whitaker CABilly Carl Wilkerson TX

Adeyemi Adebayo Winfunke CA

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