CFP — Certified Financial Planner

About

The Certified Financial Planner designation shows that you have the knowledge, skills and ethics to guide people through their whole financial lives. This includes budgeting, saving, investing, insurance, tax, retirement and estate planning.

The CFP is not required by law to work in financial services in Canada. Other licences and registrations may still be needed for specific activities, such as selling investments or insurance. The CFP is a way to stand out and show clients that you meet a recognized professional standard.

FP Canada sets the standards for the CFP and grants the designation across the country. People with the CFP often work as financial planners, financial advisors, investment advisors, wealth management advisors and wealth managers.

How to get it

1. Complete the required education
   Finish a financial planning education program approved by FP Canada. This covers the core topics a planner needs to know, from investments and tax to retirement and estate planning.
2. Pass the exams
   Sit and pass the CFP exams set by FP Canada. They test whether you can apply what you have learned to real client situations.
3. Gain relevant work experience
   Build practical experience in financial planning, usually under the guidance of an experienced professional. This shows you can do the work, not just study it.
4. Meet the ethics and character requirements
   Agree to follow the standards of conduct set by FP Canada. You will also need to show that you are fit to hold the designation.
5. Apply for the designation
   Once you have met every requirement, apply to FP Canada to be awarded the CFP designation. You can then use the title in your work.

The exam

The CFP exams are written assessments that test your planning knowledge and your ability to use it. Many questions are based on realistic client cases. Most candidates study for several months and take time to review before sitting each exam.

Careers that mention it

Keeping it

You must keep your CFP designation current by paying annual dues and completing continuing education on a regular basis. You also need to keep following the code of ethics and standards of conduct. This helps make sure your skills stay up to date.