Registered financial consultant

What is a Registered Financial Consultant [RFC]?

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A Registered Financial Consultant [RFC] is a financial professional with demonstrated knowledge in the financial services sector. Additionally, they have shown that they are capable of creating financial strategies that are unique to the needs of each of their clients.

The RFC certification is awarded to qualified financial professionals who apply by the International Association of Registered Financial Consultants (IARFC). The IARFC is a nonprofit group that promotes the public's trust in financial professionals. They achieve this through facilitating the sharing of planning strategies among financial advisors, ensuring that they adhere to their ethical standards, and providing ongoing training to keep their abilities updated.

Why Would I Work With An RFC?

There are so many reasons why you should consider working with an RFC. With their experience in financial planning and services, you can be sure that the RFC will try to guide you in making the right financial decisions. What's more, they have your interest at heart, so they will not misguide you just to sell financial products.

What are the qualifications of a Registered Financial Consultant [RFC]?

If you want to apply for a Registered Financial Consultant, there are specific qualifications that you must meet. For instance, you must have at least three years of experience as a practitioner in the financial services or planning field. In addition, the applicant must meet the following requirements:

Must have the necessary license to engage in financial planning and service profession
A professional designation includes CFA, AAMS, CFP, CLU, ChFC, LUTCF, and EA.
A life insurance license
A bachelor's degree or an advanced degree in finance, business, economics, or any other related field.
A Series 65 Securities license or one of the following combinations: Series 6 & 63, Series 6 & 66, Series 7 & 63, Series 7 & 66

You must also meet the educational requirement by completing the course requirements for the following IARFC designations: RFC, RFA, or MRFC.

There are no prerequisite coursework or exams, in contrast to other certifications. The International Association of Registered Financial Consultants' code of ethics must, however, be adhered to by all applicants. They must also pay a $250 membership and designation fee and the $100 application charge.

Applicants must complete several continuing education credits after receiving the RFC designation. All RFCs must dedicate a minimum of 40 hours to continuing education credits every two years. Each credit must be related to either professional practice management or personal finance. Their continuing education credits must include four hours on ethics.

What is the difference between a financial consultant and a financial advisor?

Many people tend to think that these two professionals are the same. That's because they offer help in making financial decisions. They can also help create financial plans that suit the needs of their specific clients. But there are slight differences between the two.

For instance, the most significant difference between financial consultants & financial advisors is the length of their relationship with clients. Once the challenges have been resolved, clients and financial consultants often part ways. Clients work with financial consultants to handle particular, time-limited issues. On the other hand, personal financial advisors work with individuals and families over a long period, managing their finances in the present and assisting them with future planning.

Personal financial advisors examine customers' finances more thoroughly than consultants do. A financial advisor might recommend that a business hire a financial consultant to provide temporary relief during a difficult moment.

In addition, businesses maintain more independence when working with a financial consultant. The consultant has been hired to address a particular issue; this means that they won't intervene in other financial or business matters, making the relationship transactional. On the other hand, a financial advisor will delve into the many areas of your business to help you achieve more.

About Oxford Advisory Groups Registered Financial Consultants

Oxford Advisory Groups has a pool of Registered Financial Consultants with experience in matters to do with financial planning and investment advisory services. The firm's managing directors- Samuel J. Dixon and Christopher J Dixon, are Registered Financial Consultants who have helped many clients achieve their financial goals.

Samuel J. Dixon

Christopher J. Dixon

Samuel J. Dixon focuses on retirement planning, IRA legacy planning, and investing for retirees, executives, and small-business owners. He is a managing partner of Oxford Advisory Group. He frequently presents instructional seminars on creating a solid and sustainable retirement plan and paying taxes in retirement.

Samuel possesses Florida and South Carolina insurance licenses and has passed the Series 65 securities test. Samuel earned a degree in risk management and insurance with a focus in financial planning and wealth management from Florida State University's College of Business.

Christopher J. Dixon is the managing partner of Oxford Advisory Group. He is a Registered Financial Consultant who is passionate in assisting retirees in creating plans to help them achieve their long-term financial objectives.

Christopher is a founding member of the Oxford Advisory Group, which gave him his start in the field. He has a Bachelor of Science from Utah State University and is licensed to sell insurance in Florida and South Carolina. He graduated with Political Science Honors.