Following the announcement in late March that it intends to become a single-source education provider and certification provider, FP Canada announced further updates to the curriculum, competency profiles, to the Financial Planning Body of Knowledge, and to exam blueprints outlining the format and weighting of certification exams – all of which will apply and be tested for, starting with May and June certification exams in 2024.
In addition to formally announcing that it will now become a technical education provider as well, the announcement revealed the oversight body’s plans to revamp the Qualified Associate Financial Planner (QAFP) professional education program, as well. Changes to the program include a greater focus on discovery, plan preparation and presentation. The existing Introduction to Professional Ethics course, previously a standalone course, is now an integrated part of the program. FP Canada has also developed a new 60-minute live and interactive component as part of the final in-course assessment of a candidate’s client discovery skills.
Notably, they add that the education program will be 25 per cent shorter than it was and will include a focus on more targeted content. Students will be required to complete the program before challenging the QAFP exam. FP Canada says the result will be a more efficient path to QAFP certification where those challenging the certification exams will develop the skills they need to help clients.
“The reimagined QAFP certification comes three years after its launch in the Canadian market,” they state. “That time frame has provided the opportunity to evaluate the role of QAFP certification in the market, distinguish it from CFP (Certified Financial Planner) certification and hear feedback from certificants, employers and other stakeholders across the profession.”