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January 15, 2022

Last Updated on January 15, 2022 by Jacques Wong, B.Sc.

While there isn’t any requirements to become a financial planner, the Certified Financial Planner designation (CFP Canada) is the most widely recognized marker of a highly qualified financial planner in Canada and worldwide.

What Is a cfp certification in canada?

A certified financial planner designation signals to the general public that you are a professional committed to putting your clients’ interests head of your own.

The CFP is recognized not just in Canada, but around the world. There are over 175,000 CFP professionals in 26 territories globally and 17,000 in Canada.

People that hold a CFP have demonstrated the knowledge, skills, experience, and ethical qualities needed to advise clients on their overall financial picture.

how to get a cfp designation

To get your CFP, you need to complete an educational program, pass a national exam, and show at least 3 years of relevant work experience.

The minimum educational requirement for the QAFP is a college diploma. The CFP requires a university degree.

There are a few paths to getting your designation:

Direct Path To CFP

The Direct Path involves a 5 step process:

  1. Study the FP Canada-approved Core Curriculum
  2. Complete the FP Canada Ethics Course
  3. Study the FP Canada-approved Advanced Curriculum
  4. Finish the CFP Education Program
  5. Pass the CFP Exam

QAFP Path To CFP

There are 2 ways to navigate the QAFP Path:

Option 1

  1. Complete the QAFP Education Program
  2. Study the Advanced Curriculum
  3. Complete the QAFP-to-CFP Bridge Program
  4. Pass the CFP Exam

Between completing the QAFP program and taking the CFP Exam, you’ll need to have accumulated 3 years of relevant work experience.

Option 2

  1. Earn your QAFP Certification
  2. Within 1 year, take the Advanced Curriculum and the CFP Education Program
  3. Pass the CFP exam

Between the 2 options, Option 2 is probably the most straight forward for most applicants.

Once you get your Certified Financial Planner designation, you also need to complete 25 hours of continuing education each year through CE courses accredited by FP Canada.

About the CFP Canada exam

The CFP exam is 6 hours long and written on a computer. It contains a combination of MCQ (20-30%) and written questions (70-80%).

Jacques Wong is the CEO and Director of Education at PNC Learning. An award-winning licensed insurance broker with over 15 years of experience in both education and the insurance industry, Jacques is recognized for his expertise and effective communication strategies. He achieved the highest provincial scores on his CAIB* 3 and CAIB* 4 exams and contributes to leading insurance publications. Jacques is dedicated to making insurance knowledge accessible for everyone through his unique approach and online content.

Jacques Wong

 Jacques wong

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