2025 IARFC
NATIONAL FINANCIAL PLAN
COMPETITION
ABOUT...
ORIGIN
2024 FINALISTS
The National Financial Plan Competition is developed and supervised by the International Association of Registered Financial Consultants, a non-profit Association for financial professionals.
ELIGIBILITY
The Competition is open only to undergraduate students enrolled in a curriculum of personal financial planning or financial services at a University or College in the US and International Chapters.
INTENTION
Professors register their students to complete in the NFPC to enhance and gain the “real world” experiences needed in developing a financial plan. The Competition progresses through 3 stages, ending in 3 teams of students presenting their plan in person to a “real client” at the IARFC Financial Forum in front of an audience of financial professionals.
FICTIONAL CASE NARRATIVE
The students must interpret the data based off of the Narrative provided and US based financial standards to create a complete Financial Plan to present for judging. In the event a student may feel some facts or assumptions have been omitted, the students must make assumptions they consider appropriate and state all assumptions at the onset of the plan. The case narrative will be provided in PDF format to all students and Professors on its release date.
BASIC PLAN SOFTWARE
Students may use any plan generation software available as long as they provide data for each segment of the financial plan. Login access to MoneyGuide will be available to each team at no additional charge.
My Competition Journey
By: Elizabeth Bedunah, 2024 First Place Winner from University of North Texas
Being part of the IARFC National Financial Planning Competition was nothing short of an amazing experience. I found this competition not only encouraged me to dive deeper into the industry that I had been studying for the past four years at UNT, but it also led me to meet some amazing people involved in the Association as well as strongminded students that are on the same path as me.
Through the challenging case study that led to the in-person competition, I found that every detail of the IARFC’s case study was perfectly designed to help us students really focus on creating what our ideal plan would be for the “clients.” Actually, working on a plan like this gave me the experience I was looking for before graduating and joining Financial Planning world. It confirmed that this career path is the one for me.
I’m thankful to the IARFC for creating this competition that will help students around the globe get a more in-depth understanding of financial planning through the plan competition and in-person presentation. I will remember my experience for a lifetime and encourage any student that has the opportunity to participate in the case competition to do so!
Elizabeth presenting her plan to financial professional Michael Markey Jr., MRFC® and his wife Vanessa (aka fictional couple).
JUDGING PHASES...
1 2 3 4
It is the student’s responsibility to submit plans to the IARFC for consideration, not the responsibility of the faculty representative. In addition, an electronic copy must be emailed to plancomp@iarfc.org. Failure to organize information or submit an electronic copy will result in the entry being disqualified. The submitted plan should reflect a high level of professionalism as if it were being given to a client.
Plans are reviewed by a professional consultant and 6 teams are selected from Competition criteria to advance to the Semi-Finals. Plans are judged on: correct entry of the case data on the family, understanding of the problem, including complete data from client, recommendations made (logic priority, suitability and timing, physical construction and design of the written plan, supplemental text and illustrations of problems or recommendations.
Semi-Final presentations will be recorded virtually and sent to the IARFC Trustee Board for evaluation and selection of the 3 Finalists teams.
Finalist teams will be presenting in person to a real client couple (as if in a consultant’s office) while being judged by financial consultant attendees and Board members.
BASIC PLAN SOFTWARE
Plans submitted become property of the IARFC and will not be returned. Students should prepare an additional copy for their reference in the event that they are selected as a Semi-Finalist or Finalist. Recorded video presentations (during Phase 3 or Phase 4) are not available for distribution to anyone, including but not limited to participants or professors at any time.
SCHEDULE
BENEFITS
FINALISTS IN THE IARFC NATIONAL FINANCIAL PLAN COMPETITION RECEIVE:
TEAMS
• A certificate and monetary award
• In person plan presentation time during the Finals at an IARFC Financial Forum
• Expenses paid (airfare*, lodging, meals, applicable event registration)
• One-year free* IARFC membership or Registered Financial Associate, RFA® (depending on qualifications per Chapter) to First Place winners
• Networking and career opportunities with experienced financial consultants
• Resume building achievement recognition
PROFESSORS
• Certificates of recognition for team placement in Competition
UNIVERSITIES
• Awards of recognition for team placement in Competition
MEDIA COVERAGE
• Publication of winning plan in the IARFC Academic Journal of Personal Finance
• Recognition in the IARFC National Industry Publication, The Register
• Participation and placement announcement on the IARFC Corporate website
• Corporate Social Media coverage including: Facebook, X, Blog, and LinkedIn
• Professional media release notifications
BENEFITS FROM A PROFESSOR’S PERSPECTIVE
Adjunct Professor Dave Ragan, RFC® - University of North Texas
As an adjunct professor of finance at the University of North Texas (UNT), I’m thrilled to share Elizabeth Bedunah recently took home the top prize at the IARFC National Financial Plan Competition! This prestigious event places undergraduate financial planning students to the test, and this year, the UNT’s team truly shined, especially considering Elizabeth was a team of one!
The competition revolves around a fictional case study. Students develop a comprehensive financial plan for this family, taking into account their income, expenses, goals, and risk tolerance. What makes this competition so valuable is its real-world application. It’s not just about memorizing formulas or using software; it’s about applying financial knowledge to a scenario financial planners come across on a regular basis.
Integrating the IARFC competition into my capstone class has been a wonderful experience. The case study provided by the IARFC was written in such a way that many planning opportunities can be found, if you know where to look. It’s complex enough to challenge students, yet relatable enough for them to experience some of the nuances of financial planning.
For everyone’s final project, my class broke off into groups, or had the option of working it solo. They analyzed the family’s budget, assessed their retirement needs, and explored various investment options. The final product allowed the students to make recommendations then those recommendations needed to be substantiated during the live presentation.
Witnessing Elizabeth transform raw data, represented by a 5-6 page case study, into a comprehensive financial plan was incredibly rewarding. Her hard work and dedication really paid off when she was selected as finalists to present their plan at the IARFC conference. Her ability to answer complex questions from the couple and confidently explain her recommendations demonstrated the depth of her understanding.
Ultimately, her hard work was recognized, and Elizabeth was declared the winner! This victory is a testament to the exceptional caliber of our Financial Planning Program, lead by Mark Evers, and the dedication of our students. It’s also a win for the IARFC competition, which provides an exceptional platform for preparing future financial consultants.