CFP^® Certification

Certified Financial Planner (CFP^® ), Certification is the industry gold standard in financial planning. CFP professionals are the largest identifiable body of licensed financial planners in Canada with over 17,500 individuals meeting the strict standards to attain this designation.

However, since financial planning is not regulated in most Canadian provinces, anyone can call themselves a "financial planner"; but not everyone who refers to themselves as a planner is indeed qualified. In the absence of government regulation, Canadians seeking competent and ethical financial planning services should look for the CFP mark. CFP certification provides assurance that the planner is committed to internationally-recognized professional standards of competence, ethics and practice as set and enforced in Canada by FPSC.

These Standards include:

• completion of a thorough education in financial planning;
• successful completion of a rigorous standardized national examination;
• financial planning-related work experience; and,
• an ethical commitment to putting the client's interest first.

CFP professionals are also held to ongoing rigorous standards through FPSC's continuing education requirements and enforcement processes.

As a certifying organization, FPSC is also committed to meeting the highest standards of performance. FPSC has received ISO 17024 accreditation, ensuring that its certification processes meets globally recognized standards, and that the CFP designation is conferred by a body worthy of the trust of consumers, industry and financial planners alike.

Interested in earning CFP certification?

If you are interested in a career in financial planning, obtaining CFP certification demonstrates to your clients that you are committed to exemplifying the industry gold standard in financial planning. You will find the program challenging, but we trust also rewarding and effective. Our goal is to make sure you complete the program with all the skills, abilities and knowledge necessary to be competent and ethical financial planners working directly one-on-one with clients. We will help guide you along the way, but you also have to take several steps on your own. This section of the website will provide you with all the information you need as you pursue CFP certification.

In addition to the education, experience, ethics, and examination requirements for earning the CFP credential, there are also requirements that you should review for maintaining it into the future. To build and ensure the trust of the public, we expect CFP professionals to maintain lifelong learning in their chosen profession.

Please note that the CFP certification program will be changing effective July 1, 2010. Candidates who have passed the CFP Examination by no later than June 2010 will be subject to the requirements of the current program. Those who have not passed the CFP Examination by June 2010 will follow the requirements of the new program.

Current Program Requirements

To earn CFP certification, candidates must:

1. Complete an FPSC-approved Education Program
2. Amass at least two (2) years of full time (or equivalent) financial planning work experience
3. Pass the CFP Examination
4. Agree to abide by the CFP Code of Ethics
5. Meet other administrative requirements such as payment of fees, attestation as to professional fitness, and agreement to abide by all ongoing maintenance requirements

Candidates who have a credential covered under the Approved Prior Credential policy, or holders of the Pl. Fin. from Quebec, or holders of the CFP credential from other countries, can waive the FPSC-approved Education Program requirement to qualify to write the CFP Examination, but they must demonstrate at least three (3) years of full time (or equivalent) financial planning work experience prior to attempting the exam.

There are four pillars that support the CFP certification process: Education, Examination, Experience and Ethics. Becoming a CFP professional requires the completion of the “4Es”. Once candidates have completed the requirements associated with each of these pillars, they are eligible to apply for CFP certification.

IMPORTANT NOTE: Regardless of the completion of other requirements, candidate seeking CFP certification MUST pass the current CFP Examination at the June 2010 sitting to be eligible for the credential under the current program requirements. The current format of the exam will not be offered after June 2010, and any candidates who have not yet passed but who wish to pursue the CFP credential will be subject to the new program requirements.

New (as of July 2010) Program Requirements

Note: These requirements apply only to those candidates who have not passed the CFP Examination by June 2010 and to past CFP professionals seeking reinstatement after June 2010.

To earn CFP certification, candidates must:

1. Complete an FPSC-approved Core Curriculum Program
2. Agree to abide by the CFP Code of Ethics and maintain registration in the Registered Candidate Program
3. Pass the Financial Planning Examination Level 1
4. Amass at least one year of full time (or equivalent) financial planning work experience
5. Complete an FPSC-approved Capstone Course
6. Pass the Financial Planning Examination Level 2
7. Amass at least two additional years of full time (or equivalent) financial planning work experience (total financial planning work experience must be at least three years)
8. Meet other administrative requirements such as payment of fees, attestation as to professional fitness, and agreement to abide by all ongoing maintenance requirements

Candidates who have a credential covered under the Approved Prior Credential policy can waive the FPSC-approved Core Curriculum Program requirement to qualify to write the CFP Examination. All other requirements remain the same. Requirements for candidates who hold the Pl. Fin. from Quebec and holders of the CFP credential from other countries will be made available in early 2010.

The following documents contain additional information on the new program:

Path to Certification
Key Changes To CFP Certification Requirements
CFP Certification Guidelines 2010
FPE1 Blueprint
FPE2 Blueprint