Recent Election Brings Changes to the MRFC® Certification Board

The International Association of Registered Financial Consultants (IARFC®) announces the results of the recent election and the expansion of the Master Registered Financial Consultant (MRFC®) Certification Board. These MRFC credential holders will help set the policy of the MRFC Certification Program and maintain the credential as it continues to serve the IARFC Association.

Robert D. Lawson, MRFC®, the current Board Chair, has been re-elected for a second term. With over 40 years of financial experience in securities and insurance, and in a professional capacity as a financial advisor, investment fiduciary, and managing principal, Lawson serves as the President of Barrington Financial Consulting Group, Inc., a full-service securities and insurance Expert Witness consulting firm and the President and Chief Investment Officer of Barrington Capital Management, Inc., a Registered Investment Advisory Firm and Insurance Agency that he established in 1988. Lawson proudly serves as a FINRA and NFA Arbitrator (FINRA Chair-Qualified) and a FINRA Mediator where he presides over industry and public disputes pertaining to breach of fiduciary duties, negligence, failure to supervise, misrepresentation, breach of contract, monetary damages, and employment issues.

“I am pleased to be re-elected and look forward to onboarding our newly elected Directors – thus increasing the size of the Board,” commented Lawson. “The experience and knowledge represented by these members is invaluable when keeping the credential pertinent to the financial services professional. My goal is to expand our reach and encourage qualified consultants to sit for the exam.”

Alan C. Kifer, MRFC®, a new addition to the Board and the 2023 Loren Dunton Lifetime Achievement Award recipient, is a retired U.S. Air Force Fighter Weapons School “Top Gun” Instructor Graduate and 1995 International Air Forces “Navigator of the Year”. With more than 30 years’ experience in insurance and financial services, he has served as a licensed/credentialed adjunct faculty instructor for the 3 top nationally accredited financial services academic institutions in the USA. Kifer has completed the curriculum requirements for 19 financial professional designations and obtained his Masters of Science Degree in Financial Services (MSFS) in 2012. He is an internationally recognized speaker, author, and educator with appearances on Fox, CBS, ABC, and NBC. Main stage presentations include presentations to Harvard Business School and the US Military Academy at West Point. In 2001, Kifer was named “America’s 1st Retirement Advisor of the Year”.

According to Kifer: “My intention to serve is first and foremost driven by the desire to continue elevating the MRFC accredited credential and expanding the number of IARFC members holding this certification denoting highly ethical, professional conduct & educational acumen.”

Melvin Mills Jr., MRFC®, of Money Concepts Inc., located in Manchester Center, VT is a multiple state licensed financial professional with Series 7, Series 63 & Series 65 (securities) and Life & Health, Property & Casualty – both commercial and personal (insurance). He brings to the Board almost 25 years of financial services’ experience with a focus on helping investors reduce risk in their portfolios. As a presenter and lecturer, Mills consults with other financial professionals on how to handle all aspects of stock options for their clients. Since 2016, he has worked with Money Concepts to establish and grow the financial services arm at banks and credit unions. He is familiar with the bank products and enjoys working in the bank environment.

According to Mills: “I am committed to the Association because I believe it promotes professionalism and integrity. I would like to be part in helping the MRFC Certification Program expand its reach and serve the financial services community."

Historically speaking, the IARFC submitted the MRFC credential to obtain vetted approval from the National Commission of Certifying Agencies (NCCA) in 2018. For the IARFC, this intense verification process ensured that their qualified consultants were being represented as true-tested financial professionals. By engaging an MRFC for financial direction, consumers are assured that they are dealing with an ethical, educated, and experienced consultant – who remains a life-long learner in the field of financial services and who has their best interest at heart.

Robert D. Lawson, FINRA Expert, Completes the Financial Institutions Regulations and Securities Law

May 16, 2023 – Robert Lawson, an accomplished FINRA Expert and Securities Expert Witness, Certified Securities Compliance Professional (CSCP®), Master Registered Financial Consultant (MRFC®), Accredited Investment Fiduciary (AIF®), Certified Fraud Examiner (CFE®), and Life Underwriter Training Council Fellow (LUTCF®) has completed the Financial Institutions Regulations and Securities Law Certificate Programs at Cornell Law School. (1,2)

The Financial Regulation Certificate program provided a comprehensive analysis of the market architecture of the entire U.S. financial sector, from banks, insurance companies, broker-dealers, asset managers, fintech companies of many types, complex financial conglomerates, and government-sponsored enterprises. The Securities Law Program consisted of four separate courses, which ranged from Defining Security, Securities Registration and Reporting, Registration Requirement Exemptions, and Key Securities Law Liabilities and Principal Underwriting Documents. (3)

According to Mr. Lawson , the coursework represented a significant commitment of his time, but stated, “these two programs are among two best advance training programs that I have completed in my 40-year career in the financial services industry and will help become a better FINRA Arbitrator and FINRA and Securities Expert Witness.”

With extensive experience in the securities and insurance industries, Mr. Lawson serves as the President and Chief Compliance Officer of a Registered Investment Advisory firm that he established in 1988. He is also the President of a full-service Securities and Insurance Litigation Support Consulting firm (www.Barrington-Inc.com), which includes over a dozen of experienced financial services testifying and consulting experts.

In addition to being a former FINRA Registered Securities and Options Principal, Registered Representative, Mr. Lawson proudly serves as a FINRA Arbitrator (Chair-Qualified) & FINRA Mediator, NFA Arbitrator (Chair-Qualified), and is a Qualified Neutral under Rule 114 of the Minnesota General Rules of Practice (Adjudicative/Evaluative).

He also serves as a Chair, Board Member, and/or Member for several professional organizations, including the Securities Experts Roundtable (SER), Master Registered Financial Consultants (MRFC®), National Society of Compliance Professionals (NSCP), Certified Fraud Examiner (CFE®), Association of Certified Fraud Examiners (ACFE®), Minnesota State Bar Association ADR Section, Chartered Financial Analyst Institute (CFA®), and CFA® Society of Minnesota.

Mr. Lawson's unbiased expert opinions are founded upon his years of experience, training, education, and a thorough understanding of FINRA and SEC Rules, Standards of Professional Conduct, Standard of Care for the brokerage, investment management, and insurance industries . He speaks with clarity and precision, making him a sought-after expert witness and consultant in complex legal cases involving FINRA, securities, fiduciary and annuities disputes. (4,5)

Completing the Financial Regulations and Securities Law Certificate Programs at Cornell Law School are significant milestones for Mr. Lawson, and he looks forward to using this advanced knowledge in his role to better serve in his capacity as a FINRA Arbitrator and FINRA Expert Witness with the highest level of expertise and unbiased professionalism.

For more information about Mr. Lawson’s professional services, please contact him via email at Blawson@Barrington-Inc.com.

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Citations:

1. Qualified for Broker-Dealers (BD) and Investment Advisers (IA)

2. Special expertise in securities fraud

3. Financial Regulations: Law and Policy – Third Edition and Principles of Financial Regulation

4. Expertise in insurance limited to variable annuities and life insurance.

5. According to Federal Rule of Evidence 702, Expert Witnesses must have the “knowledge, skill, experience training , and education” which will help the trier of fact to understand the evidence or to determine a fact in the issues.

Experts Corner: Cross Examination Compliance

15 Cross-Examination Tips for Expert Witnesses

Executive Summary

Cross-examination is one of the most challenging aspects of being an Expert Witness. To be an effective Expert Witness, you will need to understand the objectives of the opposing counsel which are to diminish your credibility during your cross-examination and use your missteps to support their case. Remember, the opposing counsel will be listening to every word of your testimony.

A successful cross-examination requires utilization of several techniques to maintain your credibility, impartiality, and ideally bolster your opinion(s).

Here are a few of my favorite tips for maintaining credibility:

1. Remember that it is not your job to win the case.

2. Always be truthful because it is your legal and ethical obligation to do so.

3. Answer questions accurately, without exaggeration.

4. Ask for clarification, if needed, before responding.

5. Act dignified and polite, and never argumentative.

6. Never act as an advocate by showing signs of bias.

7. Memorize the key facts of the case.

8. Listen with extraordinary care to each question.

9. Deliver your opinions in a simple, understandable, and truthful manner.

10. Maintain strict control over your responses.

11. Arrogance can damage your credibility.

12. Staying humble and confident in your demeanor will bolster your credibility.

13. Your opinions should be based on industry rules and standards of care.

14. Limit your responses to only the scope of the underlying matter for which you were retained and do not elaborate outside of that scope unless asked upon.

15. Prepare for your cross-examination by going through the anticipated questions you are likely to be asked.

The Author

Bob Lawson serves as the President and Chief Compliance Officer of Barrington Capital, Inc., a Registered Investment Advisory Firm, and Insurance Agency that he established in 1988. He is also the President of Barrington Financial Consulting Group, Inc., a securities, commodities, and insurance litigation consulting support firm. Mr. Lawson has nearly 40 years of experience in the financial services industry during which time he has served as a FINRA Registered Securities and Options Principal, Insurance Agency Principal and Producer, Registered Representative, Investment Adviser Representative, and Compliance Officer. As a Securities & Insurance Expert Witness and Litigation Support Consult, Mr. Lawson is retained as an unbiased Expert Witness and Consultant by both claimants and respondents for FINRA Arbitrations, mediations, and civil and criminal cases. Additionally, Mr. Lawson serves as a FINRA and NFA Arbitrator (Chair-Qualified) and FINRA Mediator.

Mr. Lawson holds the following credentials: Certified Securities Compliance Professional, (CSCP®), Certified Fraud Examiner, (CFE), Master Registered Financial Consultant (MRFC), Accredited Investment Fiduciary (AIF®), and Life Underwriter Training Council Fellow, (LUTCF®). He is the Chairman of the Master Registered Financial Consultant, division of International Association of Registered Financial Consultants, Practice Management Chair of the Securities Experts Roundtable, Membership Chair of the Minnesota State Bar ADR Section, member of the Chartered Financial Analyst - National and Twin Cities, MN Chapter, and Member of the Association of Certified Fraud Examiners – National and Twin Cities Chapter.

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