BEIJING GROUP AWARDED EXCLUSIVE RIGHTS TO ADMINISTER CFP CERTIFICATION PROGRAM IN PEOPLE'S REPUBLIC OF CHINA
Toronto, June 26, 2006 — Financial Planning Standards Board Ltd. (FPSB) recently announced that it has entered into a licensing and affiliation agreement with the Financial Planning Standards Council of China (FPSCC) to become the exclusive administrator of the CFP certification program in the People's Republic of China (PRC).
"Financial Planning Standards Board is pleased to have found a partner of the calibre of FPSCC in China to help us establish a financial planning profession centred on the principles and standards of the CFP certification marks," said FPSB Chairperson Elaine E. Bedel CFP.
"By introducing the internationally-recognized CFP certification standards to China, FPSCC will improve the competency and skills of China's financial services practitioners and improve the public's confidence in the quality and advice of China's financial planning practitioners." said Mr. Liu Hongru, FPSCC's Chairman.
Financial Planners Standards Council (FPSC), the Canadian affiliate and licensor of the CFP credential in Canada, and the largest affiliate of FPSB, welcomes its newest member to the growing roster of countries offering CFP certification.
"Bringing CFP certification to China will benefit this vast population with a body of professionals who will be trained and competent in the professional delivery of financial planning services," says FPSC President and CEO Donald Johnston.
To assist FPSCC introduce CFP certification to China, FPSB and FPSCC relied on an International Advisory Panel made up of certification and standards experts from Canada, Chinese Taipei, Hong Kong and the United States. Cary List, FPSC's COO and Executive VP, spent two weeks in Beijing in December 2005 working with Dr. Liu and FPSCC staff on all aspects of CFP certification.
"The determination and commitment of the FPSCC team that we experienced firsthand was quite remarkable," said List. "With the work we have seen to date, we have no doubt that the CFP credential will thrive in China."
To earn the right to use the CFP mark, candidates must meet appropriate experience, education, examination and ethics standards as defined by FPSB and the regional affiliate. Once certified, CFP professionals must complete professional development courses to maintain their ongoing competency and adhere to a rigorous code of ethics and set of practice standards.
About Financial Planning Standards Board (FPSB - the International Entity): FPSB is governed by a nine-member international board of directors and supported by the FPSB Council, an advisory group representing 18 organizations (FPSB Affiliates) that currently manage the CFP certification in their respective countries and two organizations in the process of becoming FPSB Affiliates. Countries or regions where FPSB has a non-profit member organization that offers, or is preparing to offer, CFP certification include: Australia, Austria, Belgium, Brazil, Canada, Chinese Taipei, France, Germany, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, the People's Republic of China, the Republic of Korea, Singapore, South Africa, Switzerland and the United Kingdom. For more, visit www.fpsb.org.
About Financial Planning Standards Council of China (FPSCC):
FPSCC is the sole organization authorized by FPSB to offer CFP certification in China, with responsibility for establishing, upholding and promoting CFP certification as the standard of professional excellence for financial planning in China. FPSCC's mission is to improve the competency and enhance the integrity of financial planning practitioners so that consumers in China can value and achieve maximum benefits from financial planning. For more, visit www.fpscc.cn.
About Financial Planners Standards Council (FPSC):
Financial Planners Standards Council (FPSC) is a not-for-profit organization established in 1995 to foster professionalism in personal financial planning. FPSC develops and enforces the highest standards in financial planning competency and ethics for individuals who hold CFP® (CERTIFIED FINANCIAL PLANNER®) certification in Canada. There are currently more than 16,000 CFP professionals in Canada and close to 100,000 individuals who have earned CFP certification in 18 countries around the world. See www.cfp-ca.org for more information.
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Media Contacts:
Eileen Chadnick/Chadnick Communications at 416.631.7437 or eileen@chadnick.com or
Reed Hilton at 416.593.8587 ext. 235 or rhilton@cfp-ca.org.
For FPSB: Noel Maye, FPSB CEO at 720-917-0002.
CFP®, CERTIFIED FINANCIAL PLANNER® and are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. (FPSB). Financial Planners Standards Council is the marks licensing authority for the CFP marks in Canada, through agreement with FPSB.
are certification marks