Toronto, ON - April 7, 2008 For the thousands of new Canadians who settle into this ethnically diverse country each year, there are often more challenges than opportunities at the start of their new lives. And many financial planners know first- hand how particularly tough the first few years can be if financial affairs are not in order. Newcomers need advice on how to successfully navigate the financial opportunities and challenges associated with embarking on a new life in Canada. "The early days for new Canadians can be daunting on many fronts. Having a financial professional guide new Canadians through the maze of opportunities and decisions can relieve much of the anxiety and help them deal with their particular life goals and circumstances," says Tina Tehranchian CFP. Now a Branch Manager of Assante Capital Management in Richmond Hill, Ontario Tina was, at one time, a newcomer to Canada. Tehranchian emigrated from Iran in 1990. She has since established herself as a CFP professional and has a successful practice advising others on their financial affairs. Tehranchian acknowledges that newcomers may arrive with unique financial situations. She says there's great merit in starting off on the right foot with the right advice and the right plan for their particular circumstances. Biljana Manojlovic, a CFP professional with RBC Wealth Management in Vancouver, concurs. She emigrated from Croatia in 1991. "Newcomers have a lot of questions. And they may not even be aware of all the questions they should be asking to leverage the opportunities available to them.. Getting the right financial planning advice is a good first step for many newcomers," says Manojlovic. Some of the many financial planning issues for Canadian newcomers:

• Establishing short-term and long-term goals: While the earlier days can be daunting, it's important to establish goals for both the immediate as well as longer term. Decisions and planning can support both.
• Budgeting: The biggest challenges for many newcomers are finding work and establishing steady cash flow. Budgeting is even more critical in the years directly following arrival in Canada.
• Understanding tax implications and obligations: Understanding the tax implications of financial decisions and one's obligations can mitigate being caught off-guard later on.
• Saving for and/or buying a new home: To rent or buy? Having a budget to reach home-related goals is one thing; navigating all the choices around mortgage and financing decisions can be overwhelming.
• Giving their children the gift of education and a more promising future: There are various government incentives and programs available to help newcomers save for their children's education. A planner can explain these different options and how these opportunities can be leveraged.
• Becoming familiar with the lay of the land and leveraging opportunities: RRSPs, RESPs, TFSA - and others are opportunities that are distinctly Canadian, and some newcomers may not be aware of all that are available or how they apply to their financial situation.
• Protecting the wealth they might bring from their homeland: Some newcomers arrive with previously acquired wealth. A qualified financial planner can identify suitable tax and wealth management strategies (i.e. Immigration Trust opportunities; etc.).

And many more... Newcomers have questions related to investing; planning for retirement; managing their risks with the appropriate insurance; tax planning, and so on. "The most important first step newcomers can take is to educate themselves about financial affairs in Canada and to get the right professional advice. That's an investment that will go a long way to a successful transition and life in Canada," says Tehranchian. Quick Facts According to StatsCan 2006 Census:

• The 2006 Census enumerated 6,186,950 individuals who were born outside of Canada. They represented one in five (19.8%) of the total population. This is the highest proportion of foreign-born population in 75 years.
• Immigration was responsible for two-thirds of Canada's population growth in the intercensal period of 2001-2006.
• Between 2001 and 2006, Canada's foreign-born population grew by 13.6%.
• This was four times faster than the Canadian-born population, which saw an increase of 3.3%.

INTERESTED IN LEARNING MORE? We can put you in touch with these and other CFP professionals who can offer insights and perspectives on these financial planning issues as well as a many other topics. Also, see the feature article of the month [1] related to this topic. Relevant Resources on FPSC's website, www.fpsccanada.org, include: FPSC Learning Centre: www.cfp-ca..org/learningcentre/public_index.asp Got a Question - Ask an Expert: www.cfp-ca.org/aae.asp Need help with Financial Planning? Take this self test: www.cfp-ca.org/public/public_fp_selftest.asp 10 tips to help you choose a Planner: www.cfp-ca.org/public/public_choosingaplanner.asp Find a Planner in your area (search function): www.cfp-ca.org/public/public_findaplanner.asp -30- For further information on FPSC and the CFP designation, please visit our online media kit at www.cfp-ca.org/media/media_mediakit.asp. MEDIA CONTACTS Eileen Chadnick/Chadnick Communications for FPSC at 416.631.7437 or e-mail eileen@chadnick.com Heather Mills at FPSC at 416-593-8587 x 235 hmills@fpsccanada.org