Financial Planning Body of Knowledge
Version 1.1.0, Updated 20171206
The Financial Planning Body of Knowledge (FP-BoK) describes the knowledge expected of CFP professionals and FPSC Level 1 Certificants in Financial Planning and comprises 12 topics: Financial Planning Profession and Financial Services Industry Regulation; Financial Analysis; Credit and Debt; Registered Retirement Plans; Government Benefit Plans; Registered Education and Disability Plans; Economics; Investments; Taxation; Law; Insurance; and Human Behaviour.
While both certifications draw from the same Body of Knowledge, the knowledge expectations for CFP professionals are broader, given that they must provide objective financial planning advice at the highest level of complexity required of the profession. Visit the About page to view select examples of where CFP professionals are expected to have greater depth of knowledge.
The FP-BoK builds on the Canadian Financial Planning Definitions, Standards & Competencies to define the holistic nature and scope of financial planning for the benefit of the Canadian public, educators, students, industry firms and financial planning professionals.
The FP-BoK provides the underpinning for the FPSC Competency Profile. It is essential to the demonstration of competence in the fundamental financial planning practices and the financial planning areas of Financial Management, Investment Planning, Retirement Planning, Tax Planning, Insurance and Risk Management, Estate Planning and Legal Aspects. Knowledge around human behaviour, decision making and relationships is important for the demonstration of professional skills. Without appropriate levels of knowledge, the competencies cannot be demonstrated.
How to Use
You can click on any of the 12 topics below or in the menu bar to drill down to statements that describe the knowledge expectations of CFP professionals and FPSC Level 1 certificants.
You can also access case studies that illustrate the application of knowledge for each topic and reflect the expected differences in the complexity of scenarios that a CFP professional or a FPSC Level 1 certificant may face in practice.
The FP-BoK is periodically revised to ensure that the content included is current. When changes are made to the FP-BoK, the version label displayed at the top of the Home page, About page, and each of the knowledge topic pages, will be updated. Similarly, each downloadable case study PDF contains a version label at the top of the first page which will be updated if the content in that particular case study changes. You may view a history of revisions to the FP-BoK and the case studies on the Revision History page.
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Latest Revisions—Updated 20171218
The following knowledge topics and case studies have been revised as of December 18, 2017. Please see the Revision History page
for more details.