Our History

Throughout its thirteen year history, Financial Planning Standards Council (FPSC) has continued to evolve to face new challenges and adapt to the needs of Canadians. The timeline below highlights some key milestones that reflect FPSC’s ongoing commitment to ensuring financial planning programs and standards are always relevant.

2010

• FPSC becomes one of the first certification bodies in Canada to become SCC accredited to ISO 17024, meeting globally recognized standards for certification bodies.

2009

• FPSC declares the inaugural Financial Planning Week (October 5-12, 2009) in Canada. FPSC holds its first Financial Planning Vision 2020 symposium in Toronto, and issues a call to action to enact meaningful change for the benefit of all Canadians. CFP^® professionals across Canada host Financial Health Check-ups.
• FPSC changes name from Financial Planners Standards Council to Financial Planning Standards Council, to better reflect the purpose and vision of the organization.
• FPSC and Institut québécois de planification financère (IQPF) sign landmark Memorandum of Understanding.  The MOU simplifies the process for Certified Financial Planner^® (CFP professionals) who want to practise in Quebec and for financial planners from Quebec who want to practise outside of the province.

2008

• FPSC announces changes to the CFP certification program, effective July 2010.   Changes include transitioning to a two-stage exam (FPE1 and FPE2);  the addition of a Capstone Course requirement and a three year work experience requirement.
• FPSC implements new governance structure and appoints first public director, Ellen Roseman, journalist with the Toronto Star.

2007

• FPSC’s CFP Competency Profile adopted as the framework for the international standard of competence for CFP professionals worldwide.
• Dalhousie University launches a new MBA stream which gives CFP professionals advance standing in the program and gives credit for up to one-third of courses.  
• FPSC rolls out first annual Educator Conference.  This inaugural event encouraged dialogue between educators and FPSC, and was attended by 50 delegates from over 20 educational institutions. 
• Cary List named FPSC's President & CEO, following retirement of Don Johnston, FPSC's founding President.

2006

• FPSC celebrates 10 years of CFP certification in Canada! There are now nearly 17,000 CFP professionals in Canada and more than 94,000 in 18 countries around the world.
• Donald J. Johnston Award launched at FPSC’s 10th Anniversary Celebration, held in Toronto. This award honours those who have made significant contributions to the financial planning profession in Canada, and was created to recognize the work of FPSC’s founding CEO and to inspire others to follow his lead.
• CFP Professional Competency Profile is launched. The Profile describes the abilities, skills and knowledge CFP professionals must have to serve the financial planning needs of clients and guides the future development of all CFP standards moving forward.

2004

• FPSC launches first set of Financial Planning Practice Standards to be adhered to by all CFP professionals.

2003

• FPSC launches Professional Competency Analysis: Reassess CFP professional competency profile that sets standards for the profession, and guides development of CFP Examination and guidelines for financial planning curriculum.

2002

• FPSC-approved education programs now total 25 registered directly with FPSC and offered by education institutions, including colleges and universities, across Canada.
• FPSC hires Vice President, Standards & Certification, to direct ongoing development of financial planning standards and of CFP certification  program.
• FPSC expands marketing/communications program: Redesigns website averaging 50,000 visits per month by end of year; Expands pro-active media relations campaign and youth outreach programs.
• More than 55 per cent of advisors working at the 14 largest planning firms in Canada hold the CFP credential and 10 per cent are currently working toward CFP, reports industry newspaper, Investment Executive, in its 2002 Planner Report Card.

1999

• FPSC surveys Canadians providing first benchmark of consumer understanding of financial planning as a professional service.
• FPSC appoints Director of Standards Enforcement. Formalizes complaint review and disciplinary procedures. 
• FPSC commissions independent Certification Audit and conducts first Job Analysis: Validates veracity of CFP Examination and ensures ongoing relevance of CFP certification.
• CFP professionals in Canada hit 10,000 mark

1996

• FPSC enters into agreement with owner of the international CFP certification marks, CFP Board of Standards, and becomes sole Canadian licensor of CFP™ professional certification marks.

1995

• Financial Planners Standards Council of Canada (later re-named Financial Planners Standards Council in 1998, and then Financial Planning Standards Council in 2009) incorporates as not-for-profit organization; Sets foundation for industry to support establishment of one common set of uniform professional standards for financial planners in Canada.