New Laurentian University programs on track to CFP

July 6, 1999, Toronto - At its June 24th meeting, the Board of Directors of the Financial Planners Standards Council (FPSC) approved the new French and English financial planning programs of Sudbury's Laurentian University, bringing the total number of programs leading to the Certified Financial Planner® or CFP® designation to 79 offered at 62 institutions across Canada.

Students successfully completing an FPSC-approved program qualify to write the CFP Professional Proficiency Examination that constitutes one element of the certifying process leading to the internationally recognized professional designation for financial planners - CFP. The FPSC is the independent not-for-profit standard-setting organization that awards the CFP in Canada to individuals who meet its rigorous standards of education, examination, experience and ethics. There are over 9,500 planners in Canada with the CFP designation and over 50,000 in 11 countries around the world.

In Canada, approximately 14,000 students are currently enrolled in FPSC registered programs developed by the Canadian Association of Insurance & Financial Advisors, the Canadian Institute of Financial Planning, the Canadian Securities Institute, the B.C. Institute of Technology, Laval University, Seneca College of Applied Arts & Technology and Wilfrid Laurier University.

"These students, as well as future registrants of the new Laurentian University programs, collectively attest to the acceptance of the CFP as the mark of the financial planning professional," says FPSC President Don Johnston. "These highly reputable educators and the distance learning institutions that have formed partnerships to increase accessibility of the approved programs have ensured a continuing increase in the numbers of qualified individuals applying for CFP certification. This is all very good news for the consumer of financial planning services."

"Making it possible for the Canadian public to readily identify the professional qualified to meet their financial planning needs is the mission of the FPSC," says Mr. Johnston.

Academic institutions registered with the FPSC offer either a certificate, degree or professional designation program and each submitted a financial planning program with curricula that cover the current CFP syllabus. The 166 topics in the CFP syllabus fall within the broader categories of Fundamentals of Financial Planning, Ethics, Insurance Planning, Retirement Planning and Employee Benefits, Income Tax Planning, Investment Planning and Estate Planning.

Institutions interested in registering a financial planning program with the FPSC will develop courses that correspond to a revised syllabus. Modifications in the revised syllabus represent the on-going efforts of the FPSC Syllabus Review Task Force to ensure the CFP standards are current and relevant. The revised syllabus will be reflected in courses by June 2000 and on the CFP examination beginning 2001.