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Changes to the CFP

Published On: August 14, 2014

The CFP has recently made changes to the Path to Certification, “As of July 1, 2014, we have replaced the FPSC Registered Candidate program with the FPSC Level 1™ Certification in Financial Planning. We have also introduced new Routes to CFP Certification that offer various exemptions.”

The CFP or Certified Financial Planner program is the first step towards CFP certification with the Financial Planning Standards Council (FPSC). The Certified Financial Planner program at Ashton College is an FPSC-accredited Core Curriculum program offered part-time to accommodate the schedule of working professionals. The CFP Faculty is made up of Certified Financial Planners who are practitioners with the knowledge and experience to guide you through the each of the four core curriculum courses.

CFP® certification is the most widely recognized financial planning designation in Canada and is considered the gold standard for the profession, representing the highest level of competence, ethics and practice.

And along with providing clients peace of mind, there are compensation benefits to certification. CFP professionals often earn more than those who are not certified, and 50% earn more than $100,000 per year.

For more information, please contact a Program Adviser or send us an email.

According to the Financial Planners Standards Council (FPSC) website, the new changes mean that:

While a CFP® professional has demonstrated the knowledge, skills and abilities to provide financial planning solutions at all levels of complexity, an FPSC Level 1 certificant is equipped to provide financial planning strategies and solutions for clients who have less complex financial planning needs. FPSC Level 1 certificants are required to attest to the same standard of care, ethics and loyalty as a CFP professional and have a Continuing Education requirement to ensure that competence is maintained and continues to grow.

Attainment of FPSC Level 1 certification also represents confirmation of readiness to move forward on the path to CFP certification, which remains the mark of the professional financial planner and the gold standard in financial planning.

To remain eligible for CFP certification, you must become an FPSC Level 1 certificant when you’ve successfully passed the FPSC Level 1 Examination in Financial Planning. You must maintain your FPSC Level 1 certification until you obtain CFP certification. There is no time limit for remaining an FPSC Level 1 certificant, provided that all requirements are maintained and that the certification is renewed annually.

For more information, please contact a Program Adviser or send us an email.


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