FP Canada announced on July 8 changes to its Certified Financial Planner certification and Qualified Associate Financial planner certification requirements.
The changes pertain to qualifying work experience requirements and the necessity of post-secondary education for candidates with experience in financial services.
“These changes are part of FP Canada's ongoing efforts to minimize barriers to certification and increase diversity among new planners entering the profession,” stated the organization in an announcement. The changes also align with recent updates to legislation regarding Canadian experience requirements for regulated professions in Ontario.
Specifically, FP Canada has revised its policies relating to relevant work experience to recognize international experience as equivalent to Canadian work experience for those seeking CFP certification and QAFP certification.
By recognizing international experience, FP Canada will encourage the development of an increasingly diverse financial planning profession that better reflects the country's population, says the organization.
A second change allows individuals without a post-secondary degree to access and qualify for CFP certification under certain circumstances. “Namely, they must either be a QAFP professional in good standing for a minimum of five years and successfully complete the QAFP Certification Bridge Path to CFP Certification, or they must have 10 years of qualifying work experience and meet the standard requirements for CFP certification,” says FP Canada.
"The financial planning profession is constantly evolving, and certification requirements must evolve with it," says Tashia Batstone, President and CEO of FP Canada. "The changes we've made will provide a smoother path for financial planners who have already clearly demonstrated their knowledge and skills – whether they've done so here or abroad."