The book from the FPSC aims for clarity for Canada’s financial planners
A new compendium sets out the knowledge that CFP professionals and those with FPSC Level 1 certificates are expected to have.
"The Financial Planning Body of Knowledge lays the foundation for more clearly defined and more consistent delivery of financial planning throughout the profession," says FPSC President and CEO Cary List. "This comprehensive publication will serve to solidify the place of FPSC Level 1 certification and CFP certification as true professional credentials."
With 12 topics, the ‘FP-BoK’ covers all areas of financial planning and includes case studies.
It was compiled with help from experts from throughout the sector and has been “rigorously reviewed” by CFP professionals, educators and a working group.
A key component of the book is the clear distinctions it makes between the expectations of CFP professionals and holders of the FPSC Level 1 certificate.
Specifically, the expectation that CFP professionals should have greater depth of knowledge in areas including registered retirement plans, registered education and disability plans, taxation, insurance, and estate planning and legal aspects.
In addition to FP-BoK, the FPSC Competency Profile has been revalidated, a process undertaken every 5 years to ensure it remains relevant and in line with client expectations.
"The Financial Planning Body of Knowledge lays the foundation for more clearly defined and more consistent delivery of financial planning throughout the profession," says FPSC President and CEO Cary List. "This comprehensive publication will serve to solidify the place of FPSC Level 1 certification and CFP certification as true professional credentials."
With 12 topics, the ‘FP-BoK’ covers all areas of financial planning and includes case studies.
It was compiled with help from experts from throughout the sector and has been “rigorously reviewed” by CFP professionals, educators and a working group.
A key component of the book is the clear distinctions it makes between the expectations of CFP professionals and holders of the FPSC Level 1 certificate.
Specifically, the expectation that CFP professionals should have greater depth of knowledge in areas including registered retirement plans, registered education and disability plans, taxation, insurance, and estate planning and legal aspects.
In addition to FP-BoK, the FPSC Competency Profile has been revalidated, a process undertaken every 5 years to ensure it remains relevant and in line with client expectations.
