Utah Valley University Wins IARFC National Financial Plan Competition

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The International Association of Registered Financial Consultants (IARFC®) proudly announces the results of the 2020 National Financial Plan Competition. Typically the students who compete in the Finals present their plan in person to IARFC member professionals; this year due to restrictions on social gatherings, the Finalists had to render their presentation virtually.

“These kinds of things are growth opportunities. The more you step outside your comfort zone, the more confidence and polish you will acquire as you progress in your career.”IARFC National Financial Plan Competition Corporate Sponsor Spokesperson Barry L. Daley, MRFC®

The winners are:

  • First Place: Abigail Adams & Zachary Wakamatsu, Utah Valley University – Dr. Luke Dean, RFC® Associate Professor
  • Second Place: Jackie Battles, University of North Texas – Dave Ragan, RFC® Professor
  • Third Place: Allison Biddix & Michael Austin, Western Carolina University – Dr. Patrick Payne, Assistant Professor.

The Competition prepares these undergraduate students in a financial services curriculum for the real world of financial consulting by asking them to transform fictional family data into a reality based financial plan. The three Finalists rose from a field of 98 students representing 15 universities to compete. Plan Competition Corporate Sponsor and results announcer Barry Dayley, MRFC® of Money Concepts International Inc., complimented the students for putting themselves in a vulnerable situation. “These kinds of things are growth opportunities,” advised Dayley to the students. “The more you step outside your comfort zone, the more confidence and polish you will acquire as you progress in your career.”

The competition follows three stages: an initial scrutiny by professional consultants to reduce down the plan entries to 6 Semi-Finalists; a Semi-Finals stage (virtually recorded) that identifies the top three Finalists; and an in-person Finals where the top three teams present in person to IARFC Board Members. “You probably had every excuse to just cancel the competition [due to Covid-19 quarantine],” remarked Dr. Luke Dean. “The fact that you carried through with it virtually shows the IARFC’s commitment to developing the next generation of professionals.”

Continuing to invest his experience to the students, Dayley remarked, “The financial planning profession is really a wonderful career. You have the opportunity of serving people of all ages and stations. You help them get the most out of life by creating opportunities that they otherwise would never have. You guide their money through the most risky journey.”

The universities and teams who participated will receive national recognition through social media, in the IARFC national publication the Register, and in the Fall edition of the Journal of Personal Finance. Dr. Norm Wright, Dean of Woodbury School of Business at Utah Valley University acknowledges… “The moment we are in right now really highlights the importance of this work. There are a lot of people out there who have a huge concern about their financial future. The work that you as students are doing and that you as faculty are doing in preparing the students, just takes on an added importance.”

The IARFC is appreciative of their Corporate Sponsors – Money Concepts and Envestnet Money Guide, and the Individual Donors who supported this year’s Competition. “The involvement of Corporate Sponsors and Individual Donors gives us the ability to continue this valuable learning experience,” explains IARFC Trustee Chair and CEO H. Stephen Bailey, MRFC®. “We thank you for your commitment to these young professionals and the support of their career choice.”

Complete information on the 2020 IARFC National Financial Plan Competition can be found at http://www.iarfc.org/event/nfpc. The 2021 event is in the planning stages with registration starting in September.

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