Path to CFP®

Education

There are two ways to meet the educational requirement. You can successfully complete one of over 30 FPSC-Accredited Education Programs [0] offered by approved education program providers in distance and/or classroom settings across Canada. Alternatively, if you hold any one of the following professional credentials or degrees you can qualify under the Approved Prior Credentials Policy: CA, CGA, CMA, CFA, CLU, FCIA, Ph.D in finance, economics or business or are a member of a provincial law society). Candidates must attempt the CFP Examination within five years of completing an FPSC-Accredited Education Program, without exception.

Examination

Once you complete one of the FPSC-accredited programs, you are eligible to write the CFP Examination. If you are qualifying to write the CFP Examination through the Approved Prior Credentials Policy, you must also have three years of relevant experience before you are eligible. The CFP Examination is a six-hour, multiple-choice examination offered twice a year in June and November. The November 2007 CFP Examination and subsequent exams will be based on the CFP Professional Competency Profile. You should determine your readiness to write the CFP Examination based on your understanding of elements of competency and the technical knowledge detailed in the Competency Profile and outlined in the CFP Examination Blueprint.

Experience

If you are taking the FPSC-Accredited Education Program path to certification, you must have two years of financial planning related experience before you can earn the credential. This experience can be obtained before or after writing the CFP Examination (see Work Experience Requirements.) Experience gained more than five years before writing the CFP Examination or more than five years after writing the CFP Examination will not be accepted. There is a three-year work experience requirement for individuals qualifying under the Approved Prior Credentials Policy and it must be met prior to writing the CFP Examination.

Ethics

Before becoming a CFP professional licensed by FPSC to use the internationally recognized CFP marks, you must disclose past or pending litigation, agree to abide by the Code of Ethics and acknowledge the right of FPSC to enforce the Code of Ethics.

Applying for the designation

Once you have passed the CFP Examination and have met the experience requirement, you can apply for the designation. Candidates who have applied through the Accredited Education Path must show evidence of having completed two years of personal financial planning related work experience. Experience must be full-time (35 hours per week) or equivalent part-time (3640 hours). Candidates must obtain the designation within five years of passing the CFP Examination. For further information, please see our Licensing Policies for CFP Candidates and review our Work Experience Requirements.

Maintaining the designation

To maintain the CFP designation, CFP professionals must renew annually by paying the licence renewal fees due March 31st of each year, complete 30 hours of Continuing Education per year and abide by the CFP Code of Ethics and Practice Standards.

Continuing education

In order to maintain the high standard of competence evidenced by successful completion of the CFP Examination, successful exam candidates are required to meet a 30-hour Continuing Education (CE) Requirement annually. Successful exam candidates will be required to start accumulating their CE credits in the second calendar year after the year in which they passed the CFP Examination. Therefore, the successful exam candidate is effectively exempt from the CE Requirements in the calendar year immediately following the year in which they pass the CFP Examination. For additional information, please refer to the CE Requirements.

Cross border policy

FPSB's Cross-Border Marks Use Policy regulates how CFP professionals may use FPSB's CFP, CERTIFIED FINANCIAL PLANNER and CFP (with flame logo) marks outside the borders of the country or region in which they first received CFP certification. For complete information on how the Cross Border Policy may affect how you are certified, please refer to the complete Cross Border Policy.