FP Canada™ Approved as Credentialing Body for Financial Planners in Ontario
CFP® certification and QAFP™ certification approved by FSRA for use of the Financial Planner title in Ontario
TORONTO, April 11, 2022 /CNW/ - FP Canada is pleased to announce that it has been approved by the Financial Services Regulatory Authority of Ontario (FSRA) as a credentialing body to grant and oversee Financial Planner title use under the Financial Professionals Title Protection Act, 2019. Certified Financial Planner® certification and Qualified Associate Financial Planner™ certification, both of which are granted and overseen by FP Canada, have been approved by FSRA for use of the Financial Planner title in Ontario.
FP Canada is dedicated to championing better financial wellness for all Canadians by leading the advancement of professional financial planning, and has more than 25 years of experience as a professional certification body for financial planners in Canada. FP Canada's approval as a credentialing body under this new legislation reinforces the important role FP Canada plays in protecting the interests of consumers by setting and enforcing high standards for the financial planning profession.
Canadians who work with CFP professionals and QAFP professionals have the confidence of knowing their financial planners have demonstrated the knowledge, skills, experience and ethics to provide the holistic financial planning advice they need. With the approval of CFP certification and QAFP certification under Ontario's Financial Professionals Title Protection Act, Ontarians can have even more confidence that the professionals who hold these credentials have met or exceeded the high standards that are now required by law.
"This approval from FSRA formally recognizes the high professional standards that CFP professionals and QAFP professionals have met, and which FP Canada diligently enforces to protect consumers," said Tashia Batstone, President and CEO of FP Canada. "All Canadians deserve to have clarity and confidence in the qualifications of the financial professionals they work with. We encourage all provinces to follow Ontario's leadership in establishing legislated restrictions on the use of the title Financial Planner."
The Financial Professionals Title Protection Act, 2019, which was proclaimed into force on March 28, 2022, creates minimum standards for individuals using the Financial Planner and Financial Advisor titles. Individuals using the Financial Planner title must hold an approved credential from a FSRA-approved credentialing body.
Certified Financial Planner certification is the most widely recognized financial planning designation in Canada and throughout the world, and is considered the standard for the financial planning profession. CFP professionals have demonstrated the knowledge, skills, experience and ethics to provide holistic financial planning strategies and solutions at the highest level of complexity required of the profession, and work with their clients to build a financial plan so that they can Live Life Confidently™.
Qualified Associate Financial Planner certification demonstrates a financial planner's competence and commitment to the highest ethical standards of responsibility. QAFP professionals have demonstrated the knowledge, skills, experience and ethics to understand their clients' everyday financial planning needs and offer professional financial advice that fits their diverse lives and supports their goals.
CFP professionals and QAFP professionals are required to adhere to the FP Canada Standards Council™ Standards of Professional Responsibility, which are set and strictly enforced by the FP Canada Standards Council. This includes a duty of loyalty that requires CFP professionals and QAFP professionals to place their clients' interests first.
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 at March 31, 2022), who meet FP Canada's rigorous professional and ethical standards. Visit the FP Canada website for more information.
SOURCE FP Canada
For media inquiries, please contact: Megan Harman, FP Canada, [email protected]
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