New paths simplify earning CFP and F.Pl. designations, improving mobility for financial planners
FP Canada and the Institute of Financial Planning have introduced new pathways to simplify the process for CFP professionals to earn the financial planning diploma required for the F.Pl. designation.
Likewise, F.Pl. holders can now pursue CFP certification through a streamlined process. These pathways are part of a mutual recognition framework between the two organizations.
The framework aims to support the creation of national standards for professional financial planning. It allows CFP professionals to seek the F.Pl. designation to practise in Quebec, while F.Pl. holders can pursue CFP certification and use the title ‘Financial Planner’ in Ontario and other provinces.
This change increases planners' ability to serve a broader range of clients across provincial boundaries. As a result, Canadians can be assured that CFP professionals and F.Pl. holders have the required knowledge and skills to provide sound financial advice.
FP Canada’s president and CEO, Tashia Batstone, commented on the framework, stating, “The mutual recognition framework is a milestone for FP Canada and the Institute, advancing our progress toward a truly national financial planning profession.”
The framework was developed by a joint working group from FP Canada and the Institute. They aimed to leverage their organizations' strengths in education and expertise for the benefit of CFP professionals and F.Pl. holders.
Under the new structure, F.Pl. holders applying for CFP certification will no longer need to take the CFP certification exam. Instead, they must complete the CFP Certification Program for F.Pl. Professionals and pass the final assessment.
Similarly, CFP professionals seeking the financial planning diploma will complete a bundled course and an assessment provided by the Institute.
Chantal Lamoureux, president, and CEO of the Institute of Financial Planning, added, “I'm very proud of the work the Institute and FP Canada have done to provide F.Pl.s and CFP professionals with greater flexibility in terms of where they work and who they serve.”
These initiatives aim to give Canadians access to qualified financial planners who have met high professional standards.
