If you’ve ever invested or been to a bank, you might have come across the CFP designation. But what is it really? CFP stands for Certified Financial Planner and is the most recognized financial planning designation in Canada and globally.
What is the CFP certification?
While anyone can be a financial planner here in Canada, the certification assures clients that you are a well-educated professional with your clients’ best interests at heart.
In Canada, there are over 17,000 CFP professionals and over 175,000 worldwide. When you earn your designation, you can be assured that you’re entering the ranks of the best of the best.
How to earn your cfp
To earn this designation, you need to complete an educational program, pass a national exam, and demonstrate 3 years of relevant work experience.
[Update: April 1, 2022] – Candidates must now hold a minimum bachelor’s degree in addition to the above mentioned educational and exam requirements.
Once you have gone through this, you have demonstrated knowledge, skills, experience, and the ethical quality needed to handle clients. To really examine their entire financial life and deal with even the most complex situations.
Continuing education requirements
Although you don’t have to take the exams again, the certification is not permanent. You need to renew it every year by March 31st and meet your FP Canada continuing education requirements.
In order to maintain your certification, you need to complete 25 hours of CE credits each year.