FP Canada™ announces results for the June 2022 CFP® exam
Over 600 candidates attempted the CFP exam, and 80% said they did so to better serve their clients.
TORONTO, Aug. 4, 2022 /CNW/ - FP Canada today announced the results of the June sitting of the Certified Financial Planner® exam. A total of 604 writers challenged the exam.
A survey revealed that candidates chose to pursue CFP certification for a variety of reasons, though the vast majority (80%) did so to enhance their skills and better serve their clients. Many (39%) also cited title protection legislation, such as Ontario's Financial Professionals Title Protection Act, which requires those who use the financial planner title to a hold a credential approved by the Financial Standards Regulatory Authority (FSRA). In Ontario, CFP certification has been approved for use of the financial planner title by FSRA. An additional 31% indicated that their employer required them to be certified, revealing the importance that firms place on certification.
"Canadians expect proven knowledge and skills from professional financial planners, and Certified Financial Planner certification is widely recognized as the gold standard," says Tashia Batstone, President and CEO of FP Canada. "We would like to congratulate those who dedicated themselves to earning their certification – and wish them luck in their financial planning careers."
Candidates had the option of writing the exam at one of 36 in-person test centres across Canada or remotely via online proctoring. Due to government restrictions related to COVID-19, in-person availability continued to be limited in some locations. While 51% of writers completed the exam in person, 49% did so through online proctoring. The first-time writer pass rate was 75%.
Certified Financial Planner certification is the only globally recognized mark of professional financial planning. To obtain certification, candidates must complete a series of educational requirements, including an FP Canada-Approved Core Curriculum Program, FP Canada-Approved Advanced Curriculum Program, the FP Canada Institute™ Introduction to Professional Ethics course and the CFP Professional Education Program, which focuses on the pillars of holistic financial planning, human behaviour, and honesty and ethics. They must also pass a rigorous national exam and complete at least three years of qualifying work experience.
Certified Financial Planner professionals have demonstrated the knowledge, skills, experience and ethics to examine their clients' entire financial picture, at the highest level of complexity required of the profession. As of June 30, 2022, there were approximately 17,000 CFP professionals in Canada, part of a global community of more than 200,000 CFP professionals in 27 territories around the world.
A national certification and professional oversight body working in the public interest, FP Canada is dedicated to championing better financial wellness for all Canadians by leading the advancement of professional financial planning in Canada. There are about 17,000 Certified Financial Planner professionals and about 2,000 Qualified Associate Financial Planner™ professionals (as of June 30, 2022), who meet FP Canada's rigorous professional and ethical standards. Learn more at FPCanada.ca.
SOURCE FP Canada
For media inquiries, please contact: Megan Harman, FP Canada [email protected]
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