FP Canada and the Institut québécois de planification financière (IQPF) announced Oct. 18 that the two organizations have entered into a joint initiative, engaging a taskforce of stakeholders to explore how to leverage new and emerging technologies that enhance financial planning and increase the accessibility of advice.
Dubbed Fintellect, the taskforce of 15 industry stakeholders will explore how technology can increase access to financial planning and what new competencies financial planners will need to better serve clients as digital tools become more integrated.
“Although human relationships will always be at the core of professional financial planning, as a profession it’s critical that we also understand the growing role of technology and how we can use it to support Canadians’ financial wellness,” says FP Canada’s president and CEO, Tashia Batstone.
Presently in the discovery phase of the initiative, task force members are currently hosting workshops with industry participants to better understand the opportunities and challenges. The second phase will include conducting in-depth research into key focus areas identified.
In a statement announcing the initiative’s launch, FP Canada says “once the initial research is complete, the task force will focus on determining how its learnings can be leveraged by practicing financial planners and integrated into the strategies of key stakeholders such as industry firms, regulators, credentialling bodies and governments.”