Toronto, July 12, 2005 — Nine hundred and sixty one (961) individuals wrote the Financial Planners Standards Council (FPSC) Certified Financial Planner® (CFP®) Examination on June 11, 2005 and 47.24 per cent (454) passed. Of those writing the exam for the first time, 53.31 per cent passed.
The list of the 454 successful CFP candidates will be published in The Globe and Mail on Thursday, September 8, 2005.
"Congratulations to all the successful candidates for taking this critical step. The CFP Examination measures their professional competence, judgment and analytical skills," said Cary List, Executive Vice President & COO, FPSC. "They are now one step closer to earning the designation acknowledged throughout Canada and internationally as the gold standard for competence and ethics in financial planning."
The six-hour CFP Examination is administered in both official languages twice a year. The June examination was held in 59 centres across Canada. Topics covered reflect the knowledge, skills and professional competence required in the current practice of financial planning as established by CFP professionals and academics from across the country.
Only candidates who have completed the educational requirements set by FPSC are eligible to write the CFP Examination. There are 29 programs directly accredited by FPSC that are delivered by 23 institutions (including colleges and universities). However, some program providers have entered into academic partnerships bringing the number of institutions that offer courses of study leading to the CFP designation to over 70.
Individuals who hold one of the following credentials and have three years of relevant industry experience are also eligible to write the CFP Examination through FPSC's Approved Prior Credentials Policy:
Professional accountants (CA, CGA, CMA)
Chartered Financial Analyst (CFA)
Chartered Life Underwriter (CLU)
Members of provincial law societies
PhD in finance, business or economics
The next scheduled CFP Examination is on Saturday, November 19, 2005. Registration closes on October 19, 2005. Examination information and applications are available at www.cfp-ca.org.
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 the CFP® (CERTIFIED FINANCIAL PLANNER®) in Canada. There are currently more than 16,000 CFP professionals in Canada and 90,000 individuals who have earned the CFP designation in 18 countries around the world. See www.cfp-ca.org for more information.
Media Contacts:
Eileen Chadnick/Chadnick Communications at 416.631.7437 or eileen@chadnick.com or Reed Hilton/FPSC at 416.593.8587 ext. 235 or rhilton@cfp-ca.org.
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