Published on FPSC (http://www.FPSCcanada.org)

FAQ: Continuing Education

FAQ: Continuing Education Requirements

www.cfp-ca.org [1]) for a listing of different course providers and/or organizations. CFP professionals must contact these providers directly in order to receive additional information on the courses/educational activities they offer.

Another useful resource is our Event & Seminar Calendar. There you can find a listing of seminars or conferences on a monthly basis. Please NOTE that we do not review the content of the seminars offered. Therefore, this list should not be regarded as endorsed or recommended by FPSC.

In addition, you can inquire about in-house courses or training offered internally through your work place. You can claim as technical credits only those activities that have one or more topics covered in the Exam Syllabus. As you are aware, FPSC does not pre-approve credits at this time. It is the CFP professionals responsibility to self-assess the relevancy of these activities (that they are interested in and/or completed) by referring to the Exam Syllabus and CE Requirements to determine whether or not they will be eligible for CE credits.

ceconnection@cfp-ca.org [2].

Does FPSC recommend certain courses?

FPSC does not recommend one course over another. We believe that CFP professionals will have a better idea in deciding which activity would be most beneficial to them in their professional career. Continuing Education is about maintaining professional competence, and therefore, should be determined by the CFP professional.

Can I use credits from other associations/organizations to satisfy my CE requirements?

If you are a member of another association (such as Advocis, CGA, etc.) and have taken courses for continuing education purposes to satisfy their requirements or the requirements of other designations you hold, then you can definitely use those activities towards your FPSC CE Requirements provided that they meet the requirements of FPSC.

When using CE credits that meet different organization's CE requirements, please remember that each organization may have different CE requirements. It is important that you reassess those activities that you have claimed for the different organizations and recalculate the amount of credits earned based on FPSC CE Requirements.

We strongly encourage you to refer to the Exam Syllabus and FPSC CE Requirements to determine whether credits you have earned from another association will meet the technical requirements and that the number of credits you previously claimed is correct.

Should I fax/send in documentation every time I complete a course or attend a seminar?

We request that you do not send in any supporting documentation throughout the calendar year, as it will be disregarded and will not be kept on file if submitted. As indicated, you are only required to supply supporting documentation in the event you are chosen for audit. We strongly encourage you to record all CE activities throughout the calendar year and keep all supporting documentation in a file so that it may be accessible in the event that you are chosen for the random audit.

What should I do if I cannot complete my CE requirements for the calendar year?

CFP professionals should always be diligent in meeting their CE requirements. However, if for some reason you are unable to meet the CE requirements, and your situation does not fall under any of the extenuating circumstances (listed in the Exemption Policy located in CE Requirements), then it is your responsibility to notify us immediately before renewing your CFP licence to discuss alternatives.

What if I cannot complete my CE requirements due to an extenuating circumstance?

In the event that you are unable to complete your CE requirements due to an extenuating circumstance, you can apply for a CE exemption. Upon approval, your CE requirements will be waived for the specified calendar year. For additional information refer to our Exemption Policy located in the CE Requirements.

How do I apply for a CE exemption and/or exemption status?

Exemption status is granted on a case-by-case basis. You must re-apply on an annual basis (refer to CE Requirements).

To apply for a CE exemption, you can download the CE Exemption Request Form. When completing the CE Exemption Request Form, you must be specific when stating your extenuating circumstances. You must include the reason why you were unable to meet the CE Requirements and any other relevant information that can help us assess your situation.

When submitting your CE Exemption Request Form, you are required to provide supporting documentation. The following supporting documentation is acceptable: doctor's certificate for medical reasons or birth certificate/adoption papers of your child for maternity/parental leave. Once we have reviewed your request, a letter will be sent to you to confirm our decision.

Remember, incomplete forms will not be processed.

What if I cannot complete my course within the calendar year?

If you are enrolled for a course that does not finish until the following year, then you can claim half of the total number of credits the year you enrolled and the other half the year you successfully complete the course. If you do not successfully complete the course the following year, you are not allowed to use the remaining half since you already claimed half the credits when you enrolled. You are only allowed to use the remaining half upon successful completion.

NOTE: This may only apply to specific educational activities. Contact the Education Department for additional information.

Am I still responsible for completing CE requirements if I move to another country?

In order to continue to use the Canadian CFP designation and CFP trademarks: CFP®, Certified Financial Planner®, and the CFP Flame Logo, you must abide by the Code of Ethics by renewing your Canadian CFP licence annually and meeting the CE Requirements.

Why is meeting the CE Requirements necessary?

FPSC takes great pride in benefiting the public by leading the evolution of the financial planning profession in Canada. We do this through our development of enforcement and promotion of the highest competency and ethical standards in financial planning. To stay true to our mission statement and protect the public interest, we measure and monitor our CFP professionals' professional development through their lifelong obligation in continuous learning to help maintain their professional competence. Due to rapidly changing demands of the financial industry, we have developed structured Continuing Education Activities to ensure that our CFP professionals are committed in keeping up-to-date and current in their profession.

Does successful completion of the CFP Examination qualify as an eligible activity towards CE requirements of other professional designations/licences?

FPSC is not a course provider and therefore does not offer any CE credits for successful completion of the CFP Exam. FPSC is the sole licensor of the Canadian CFP licence. Successful completion of the CFP Exam enables candidates to qualify in obtaining their CFP licence.

As you are aware, there are different paths in being eligible to write the CFP Exam. Due to this, it is extremely difficult to measure and determine a recommended number of study time for each individual planning to write the CFP Exam.

If you are inquiring this information to meet other association/organizations CE requirements, then we do advise you to contact them directly and see if successful completion of the CFP Exam or study time for the CFP Exam would meet their CE requirements. Different organizations/associations have different CE requirements, therefore, it would be up to the organization/association in which you are reporting your CE activities, to decide whether or not passing the CFP Exam or studying for the CFP Exam would meet their CE requirements.

Source URL:
http://www.FPSCcanada.org/professionals/faq_ce

Links:
[1] http://www.cfp-ca.org
[2] mailto:ceconnection@cfp-ca.org