Set, Maintain & Enforce | Financial Planning for Canadians

We Set the Bar High — And Keep It There

At the FP Canada Standards Council™, your trust matters. That’s why we make sure every Certified Financial Planner^®professional and Qualified Associate Financial Planner™ professional meet strict standards before they work with you. And we don’t stop there—CFP^® professionals and QAFP^® professionals keep learning every year to stay sharp and up to date.

The Standards Council takes a three-step approach to setting, maintaining, and enforcing the policies and practices that govern CFP professionals and QAFP professionals:

SET

The Standards Council establishes financial planning standards

These Standards are regularly updated so that they remain relevant and effective to protect Canadian consumers and support professional planners to understand their obligations.

CFP professionals and QAFP professionals must agree to comply with The Standards of Professional Responsibility as a condition to new and continued certification
Failure to comply with the standards can result in professional discipline, with sanctions that range from a letter of admonishment to suspension or revocation of certification

The Standards Council sets the certification requirements for CFP professionals and QAFP Professionals

Certification requirements are a critical part of establishing professional standards. To obtain and maintain certification as a CFP professional or QAFP professional, candidates must:

Complete a comprehensive education program
Pass a certification exam
Demonstrate relevant work experience
Adhere to a strict Code of Ethics as well as Rules of Conduct, Fitness Standards and Practice Standards
Commit to annual continuing education

The Standards Council regularly reviews the certification requirements to ensure that CFP professionals and QAFP professionals certified by FP Canada™ meet the appropriate standards of competence and professionalism to protect the public interest.

The Standards Council develops and delivers certification exams

Passing an FP Canada exam is mandatory to gain certification. The Standards Council’s two independent Exam Panels ensure that:

The exams assess the competence of candidates for certification
Individuals who are qualified receive a passing score and individuals who are not qualified receive a failing score

The FP Canada Standards Council Disciplinary Rules and Procedures for Examination Misconduct apply to cases of exam or exam-related misconduct by candidates.

MAINTAIN

The Standards Council establishes Continuing Education requirements

Standards for continuing education (CE) ensure that CFP professionals and QAFP professionals continue to maintain the required standards of competence and professionalism to meet a wide range of client needs.

To ensure their knowledge and competence remain current, all CFP professionals and QAFP professionals must meet annual CE requirements to maintain certification.
Random audits ensure compliance with these CE requirements. CFP professionals and QAFP professionals who do not meet them may be denied renewal of their certification.

ENFORCE

The Standards Council enforces the Standards of Professional Responsibility

Enforcing the standards ensures that:

CFP professionals and QAFP professionals meet or exceed the rigorous standards expected of them
the public interest is protected
FP Canada’s enforcement process is fair and transparent.

The FP Canada Standards Council™  Disciplinary Rules and Procedures (DRP)  guide how the Standards Council conducts initial reviews and investigations into complaints involving CFP professionals and QAFP professionals.

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