As a reminder, the title of Pl. Fin. has been supervised for several years in Quebec. Recently, Ontario also regulated the use of this title and Saskatchewan and New Brunswick are expected to do the same soon. This regulation helps protect the public while recognizing the fact that people practice financial planning professionally.
In this context, and given that the Institute and FP Canada want the Canadian population to be able to access financial planning services provided by well-trained professionals, acting in the best interest of their clients, the two organizations considered it essential to facilitate obtaining nationally recognized credentials for their members.
“Thanks to this recognition framework, both Pl. Fin. that CFPs will have greater flexibility regarding where they work and the clients they serve, says Chantal Lamoureux, president and CEO of the Institute. These professionals already have knowledge and expertise in financial planning. The new courses allow them to acquire notions that are specific to Quebec or the rest of Canada to expand their practice. »
The framework and simplified pathways were developed by a joint working group composed of experts from both organizations.
From now on, the Pl. Fin. who want to be CFP certified no longer have to take the FP Canada accreditation exam. They must now take a new course offered by the FP Canada Institute, which recognizes their professional qualifications, and pass the associated final evaluation. Once the assessment has been successfully completed, it will be possible to apply for CFP certification, recognized by the Financial Services Regulatory Authority of Ontario (FSRA).
Conversely, CFPs wishing to become Pl. Fin. no longer need to take the Institute exam. They can simply follow the simplified course for CFPs offered by the Institute and pass the corresponding assessment. Once they have their diploma, they can apply to the Financial Markets Authority (AMF) to receive their license to practice financial planning.
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