FP Canada will foster better financial health for Canadians
TORONTO, Sept. 19, 2018 /CNW/ - The Financial Planning Standards Council (FPSC) Board of Directors today announced a renaming and rebranding of the organization, and an expansion of its scope, to more effectively position the organization in leading the direction of the financial planning profession in Canada. Effective April 1, 2019, FPSC will transition to FP Canada—a national body dedicated to advancing professional financial planning.
Through continuously advancing technology, society is facing unprecedented disruption in all walks of life. As a result, the traditional role and value of all professions needs to be re-evaluated—and financial planning is no exception. Although modern technology has left consumers with an abundance of choice and easy access to all sorts of information, it has also left Canadians with a greater need than ever for personalized advice with a human touch. To help Canadians get the guidance they need to achieve financial health and Live Life Confidently™, professional financial planners require new skills and strong leadership. FPSC's Board of Directors has determined that it should play a leadership role in helping planners acquire these skills, and therefore expand the organization's scope, to include elevating the practice of financial planning for the benefit of all Canadians.
At the highest level, FP Canada will set the strategic direction for professional financial planning in Canada and continue to provide the thought leadership needed to advance the profession. FP Canada's mandate will be to lead the advancement of professional financial planning, through two distinct divisions:
- FP Canada Standards Council™: the Standards Council division will continue to fulfil the critically important standards-setting and certification activities that are currently at FPSC's core, certifying financial planners and ensuring those certified by FP Canada are held to rigorous standards of competence, professionalism and ethics. The Standards Council division will maintain an autonomous structure, independent governance and public representation on its Panels – essential to maintaining the integrity of FP Canada's certification programs and oversight of the profession.
- FP Canada Institute™: the Institute division will provide prospective and existing financial planners with a new suite of tools and services to help them be even more effective in improving the lives of their clients. This includes new programs focused on helping financial planners develop professional skills. By helping financial planners nurture these skills in addition to the essential technical skills, FP Canada will ensure that professional financial planners are equipped to meet the needs of all Canadians.
"The financial services industry is rapidly changing. Financial planners need a source of strong leadership and skills development and consumers need to know they can trust their financial planner to meet their ever-evolving needs," says Dan Busi, CFP®, FPSC's Board Chair. "FP Canada will ensure that the value proposition for the professional financial planner is clear and that planners are equipped with the tools, skills and resources they need to deliver on the brand promise."
"As technology advances, so must the role of the human professional. FP Canada will steer the strategic direction of the financial planning profession to ensure relevance of the human planner in an increasingly technological world," says Cary List, President and CEO of FPSC.
Full details about FP Canada will be released in November.
About Financial Planning Standards Council
A professional standards-setting and certification body working in the public interest, FPSC's purpose is to drive value and instill confidence in financial planning. FPSC ensures those it certifies―Certified Financial Planner® professionals and FPSC Level 1® Certificants in Financial Planning―meet appropriate standards of competence and professionalism through rigorous requirements of education, examination, experience and ethics. There are more than 18,500 Financial Planners in Canada who have met, and continue to meet, FPSC's standards. More information is available at FPSC.ca and FinancialPlanningForCanadians.ca.
About CFP Certification
Certified Financial Planner® certification is the most widely recognized financial planning designation in Canada and throughout the world and is considered the standard for the profession. CFP® professionals have demonstrated the knowledge, skills, experience and ethics to examine their clients' entire financial picture, at the highest level of complexity required of the profession, and work with their clients to build a financial plan so that they can Live Life Confidently™. CFP professionals in Canada are certified by FPSC. There are approximately 16,500 CFP professionals across Canada, part of an international network of more than 175,000 in 26 territories around the world.
SOURCE Financial Planning Standards Council
For further information: Megan Harman, Financial Planning Standards Council, [email protected], 416.593.8587, ext. 232 or 1.800.305.9886