FPSC Marks Ten Year Anniversary of CFP® Certification in Canada

Toronto, January 27, 2006 — Financial Planners Standards Council (FPSC) marks the ten-year anniversary of CFP® certification in Canada this year with a celebratory event in Toronto attended by over 100 guests.

"From financial planning standards to recognition of the profession of financial planning is a journey that FPSC began with a single step and a leap of faith. Ten years later, we're well on our way. It's been a successful beginning," said Don Johnston, CEO and founder of FPSC.

Offering a retrospective, FPSC noted the many milestones reached over the past decade since the incorporation of FPSC in November 1995.

Margaret Koniuck, CGA, CFP, and current Chair of the FPSC Board of Directors says it was Johnston's "vision and unrelenting passion that led to the founding of FPSC in 1995 and development of the foundation on which the financial planning profession was to be built. That foundation was the made-in-Canada professional certification based on the internationally recognized CFP platform of uniform, rigorous requirements in education, examination, ethics and experience."

Mr. Johnston rallied support for his mandate from key influential organizations in the industry, and in January 1996 secured the rights for FPSC to be sole licensor of CFP® professional certification marks in Canada.

"The main goal was to bring some harmony to the financial planning arena with a cohesive effort around one designation - one that would represent one set of standards designed to protect the public and advance financial planning toward becoming a true profession," said Johnston in his opening address.

"We chose to champion the CFP certification process because it was rigorous and had all the fundamental elements upon which to build a profession committed to serving the best interests of consumers."

In her address, Ms. Koniuck noted: "In absence of a national regulatory framework, FPSC really stepped up to the plate and has earned recognition and credibility as the authoritative voice and regulatory body for the development, enforcement and ongoing stewardship of CFP standards. The work of these past ten years has significantly put shape to the financial planning profession."

Today, there are close to 17,000 CFP professionals working across Canada in every sector, providing Canadians ready access to an identifiable, competent body of credentialed financial planning professionals. The level of ubiquity the CFP credential enjoys in the industry has resulted in it being the recognized "gold standard" in financial planning.

Canada also notably stands out in the global CFP community as the country with the highest per capita ratio of CFP professionals.

FPSC also plays a significant role in the international advancement of CFP certification and the profession of financial planning through its leadership and participation at the Financial Planning Standards Board, the international entity that owns the CFP certification marks in all countries outside the United States.

What does it take to build a standard? To advance a profession? To stay relevant?

In addition to the continually growing numbers of CFP professionals, Johnston cites an ongoing effort with key focal points along the way such as: Establishing the CFP® Financial Planning Practice Standards, which now provide further guidance and clarity on what should happen in the financial planning engagement; Ensuring ongoing refinement of the certification process, including the national CFP® Examination and the recently completed competency analysis; and the ongoing and powerful public awareness effort that has contributed to an increase in public understanding and appreciation of financial planning and the value of hiring CFP professionals.

"The large number of CFP professionals in Canada, and the integrity and ongoing viability of the standards are the result of a powerful effort and commitment from a great many people at FPSC, our board and within our industry," said Johnston.

"We have established a tremendous foundation on which to build. And there will always be more work to do and more steps in our journey. We look very optimistically towards the future as we continue to work to ensure financial planning is a profession in which we can all take pride and in which Canadians can place their trust."

Financial Planners Standards Council (FPSC) is a not-for-profit organization established in 1995 to foster professionalism in personal financial planning. FPSC develops and enforces the highest standards in financial planning competency and ethics for individuals who hold the CFP® (CERTIFIED FINANCIAL PLANNER®) in Canada. There are currently almost 17,000 CFP professionals in Canada and more than 94,000 individuals who have earned CFP certification in 18 countries around the world. See www.cfp-ca.org for more information.

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NOTE TO EDITORS: See additional Milestones and Comments.

For more information, please visit our online media kit at www.cfp-ca.org/10thanniversary.

FOR MEDIA INTERVIEWS AND FURTHER INFORMATION, CONTACT:
Eileen Chadnick/Chadnick Communications at 416.631.7437 or Eileen@Chadnick.com
Reed Hilton/ FPSC at 416.593.8587 ext. 235 or rhilton@cfp-ca.org