Designations

 CFP, CEP, RFC, and the other ones....

What is the CFS Designation?

The Institute of Business & Finance has awarded Randall J. Yeomans with the only nationally recognized mutual fund designation.

CFS (Certified Fund Specialist)
This designation is conferred upon candidates who complete a one-year educational program and pass a comprehensive examination. CFS designees must also adhere to a professional Code of Ethics and meet annual Continuing Education requirements to maintain their certification.
The CFS program provides advisors who are qualified to consult their clients on the advisability and costs of acquiring or retaining mutual funds in their investment portfolio.
There are several hundred thousand people licensed to sell mutual funds and annuities; less than 1% of them have earned the CFS designation.

CFS CODE OF ETHICS

  • A Certified Fund Specialist shall conduct all activities in a lawful manner consistent with the highest standards of honesty, integrity and ethics.
  • A Certified Fund Specialist shall exercise reasonable and prudent professional judgment and shall otherwise act in the best interest of the client.
  • A Certified Fund Specialist shall perform mutual fund services in a competent, efficient and economical manner.
  • A Certified Fund Specialist shall keep abreast of developments in the field and strive to improve professional competence in all areas of mutual funds in which the CFS is engaged.
  • A Certified Fund Specialist shall offer advice only in those areas in which he or she has competence.
  • A Certified Fund Specialists conduct in all matters shall reflect credit upon the profession.
  • A CFS shall use the marks CFS and Certified Fund Specialist in compliance with the rules and regulations of the Institute of Business and Finance, as established and amended over time.

What is the RFC Designation?

  • The Registered Financial Consultant (RFC). This designation was developed to help the client recognize that a financial professional is a practicing qualified advisor. RFC requirements:
  • Experience: A minimum of four years experience as a full time practitioner in the field of financial planning.
  • Ethics: Must subscribe to the IARFC Code of Ethics.
  • Continuing Education: Must agree to devote a minimum of 40 hours per year to continuing education in the field of financial planning.
  • Business Background: Must have a sound record of business integrity with no suspensions or revocations of any professional licenses.
  • Education: Must have earned a bachelors or graduate degree with strong emphasis on subjects relating to economics, accounting, business, statistics, finance, and similar studies or have earned one of the following professional degrees or have designations: CFA, CFP, ChFC, CLU, CPA, EA, JD, LLB, LUTCF, RHU; or completed a CFP equivalent course at an accredited college or university.
  • Professional Licensing: Must have met licensing requirements for securities and life and health insurance. A non-licensed fee-only planner must submit RIA affiliation information.

Each year the RFC must re-subscribe to the above principles and attest to the completion of continuing education, which is subject to audit.

Commitment to Continuing Professional Education. The IARFC requires that those holding the Registered Financial Consultant (RFC) or Registered Financial Associate (RFA) designations must complete 40 units of continuing education