DENVER, CO - FPSB's Update newsletter, highlighting FPSB's recent global meeting in Wales, is now available.

Read more...

DENVER, CO - 16 May 2013 - Financial Planning Standards Board Ltd. (FPSB), owner of the international CERTIFIED FINANCIAL PLANNER certification program, seeks nominations for one open position on FPSB's Board of Directors for a four-year term beginning 1 April 2014. 

Read more...

NUMBER OF CFP PROFESSIONALS APPROACHES 150,000 WORLDWIDE

{/summary}{summary [full="0" link="0" class="class"]}

DENVER, CO – 28 January 2013 - Financial Planning Standards Board Ltd. (FPSB), owner of the international CERTIFIED FINANCIAL PLANNER certification program, reported that the global number of CFP professionals grew by more than 8,000 last year (for an annual growth rate of 5.7 percent), from 139,818 at year-end 2011 to 147,822 at year-end 2012. 

{/summary}{summary [full="0" link="0" class="class"]} {/summary}

Read more...

FINANCIAL PLANNING STANDARDS BOARD NAMES BRAZILIAN, CANADIAN AND INDIAN TO 2013 BOARD OF DIRECTORS

{/summary}{summary [full="0" link="0" class="class"]}

DENVER, CO – 13 December 2012 - Financial Planning Standards Board Ltd. (FPSB), owner of the international CERTIFIED FINANCIAL PLANNER certification program, named Joy Thomas, Mari Emmanouilides, CFP, and Sanjay Sachdev, CFP, to its Board of Directors starting 1 April 2013. 

{/summary}{summary [full="0" link="0" class="class"]} {/summary}

Read more...

Financial Planning Association of Singapore (FPAS)

Financial Planning Standards Board Korea (FPSB Korea)

Financial Planning Standards Board Indonesia (FPSB Indonesia)

FPSB Indonesia is a non-profit foundation established in 2006. FPSB Indonesia is an LSP-P (Professional Certification Body - Proficiency) from BNSP (Indonesian Professionals Certification Authority), a governmental body in charge of certifying professionals. FPSB Indonesia is an affiliate member of FPSB Ltd. FPSB Indonesia administers the CFP certification and RFP certification programs to benefit consumers and establish financial planning as a profession in Indonesia.

Contact:

Website: www.fpsbindonesia.net/

Tel: +62 21 7087 2149/2150 
Fax: +62 21 2512465
E-mail: info@fpsbindonesia.org

Arthaloka Building
Jl. Jend. Sudirman Dav. 2, Suite 1310
Jakarta, 12420 Indonesia 

Financial Planning Standards Board India (FPSB India)

FPSB India is a professional membership and certification/standards setting body, established by prominent financial service corporations with an objective to professionalize the concept of financial planning by guiding the development and promotion of standards for financial planning professionals to benefit and protect the public in India. FPSB India is committed to maintaining high standards of technical competence, fair dealing and integrity among its members. FPSB India works with Regulators, Industries/Associations, Corporations, Media and the public to achieve its objectives.

Contact:

Website: www.fpsbindia.org/

Tel: +91 22 61712424
Fax: +91 22 61712444
E-mail: info@fpsbindia.org

702, 7th Floor, Leela Business Park, Andheri Kurla Road, Andheri East, Mumbai 400 059, India 

Financial Planning Standards Board Deutschland e.V. (FPSB Deutschland)

Asociación Colombiana de Planeación Financiera (CAPF)

Financial Planning Standards Board China Ltd. (Shanghai)

FPSB China (formerly Financial Planning Standards Council of China) is the marks licensing authority for the CFP Certification program in mainland China. FPSB China also offers the Associate Financial Planner, Executive Financial Planner, and Certified Private Banker certification programs, which are accredited by FPSB. FPSCC became an affiliate member of FPSB  in June of 2006 and changed its name to FPSB China Ltd. and FPSB China Advisory Panel in February 2009, taking on all the responsibilities and rights of FPSCC.
 
FPSB China Advisory Panel (FPSB-CAP) consists of a group of honorable professionals with high academic status, strong sense of social responsibility and enthusiasm in financial planning. The FPSB-CAP represents FPSB in advising and supervising the operation of FPSB China Ltd.  Professor Liu Hongru serves as the Honorary Chairman of FPSB-CAP. Mr. Wei Yingning, the former Vice Chairman of China Insurance Regulatory Commission serves as the Chairman. Vice Chairmen include Dr. Zhang Furong, Chief Supervisor of China Construction Bank, Mr. Luo Xi, Vice President of Industrial and Commercial Bank of China and Dr. Cai Zhongzhi, a senior banker. Mr. Xue Hong serves as the  Chairman of FPSB China Ltd. and Mr. Guan Yanyou serves as the CEO.

Contact: 

Website: www.fpsbchina.cn/

Tel: +86-21-6093-0818
Fax: +86-21-6093-0811
E-mail: info@fpsbchina.cn

Unit 304, 3/F Cham Time International Finance Center, 
1589 Century Avenue, Pudong New Area, Shanghai, P.R. China 

Instituto Brasileiro de Certificacão de Profissionais Financeiros (IBCPF)

A nonprofit private entity, IBCPF was founded in May 2000. The mission of IBCPF is to promote the highest professional and ethical standards in the field of financial planning for individuals, contributing towards the attainment of individual financial and financial planning goals.

Contact:

Website: www.ibcpf.org.br/

Tel: +55-11-3471-4200 
Fax: +55-11-3471-4230 
E-mail: ibcpf@ibcpf.org.br

Av. das Nações Unidas, 8.501, 21 andar, 05425-070, São Paulo, Brazil 

Established in 2000, the AFP is a nonprofit, professional regulatory organization, which is supported by the whole financial services industry in Austria, including banking, insurance, independent financial consultants as well as the legal profession and academics.

Contact:

Website: www.cfp.at/

Tel: +431-533-5050 
Fax: +431-533-5033 
E-mail: office@fpsb.at

c/o BWG, Esslinggasse 17/5, 1010 Vienna, Austria 

FPA was founded in 1992 by merger of the International Association for Financial Planning and the Australian Society of Investment and Financial Advisors Limited and is the only professional body for financial planners in Australia. FPA develop professional, compliance and ethical standards for CFP professionals, and represents members’ interests with legislators, regulators and consumer bodies.

Contact Information: Website: www.fpa.asn.au/  Tel: +61 02 9220 4500  Fax: +61 02 9220 4582  E-mail: fpa@fpa.asn.au Level 4, 75 Castlereagh Street, Sydney NSW 2000, Australia

DENVER, CO - FPSB's Update newsletter, highlighting FPSB's recent global meeting in Wales, is now available.

Read more...

FINANCIAL PLANNING STANDARDS BOARD JOINS IOSCO AS AN AFFILIATE MEMBER

DENVER, CO – 18 October 2012 - FPSB joins IOSCO's SRO Consultative Committee to add the voice of the global financial planning profession to the debate on global securities market issues. 

{/summary}{summary [full="0" link="0" class="class"]} {/summary}

Read more...

FINANCIAL PLANNING STANDARDS BOARD NAMES BARRY HORNER 2013 BOARD CHAIRPERSON-ELECT

DENVER, CO – 17 October 2012 - The Board of Directors of FPSB named Barry Horner, CFP, chief executive officer of UK-based Paradigm Norton Financial Planning Ltd. and a director of FPSB, as its Board chairperson-elect in 2013.

{/summary}{summary [full="0" link="0" class="class"]} {/summary}

Read more...

DENVER, CO – 17 October 2012 - Financial Planning Standards Board Ltd. (FPSB), owner of the international CERTIFIED FINANCIAL PLANNER certification program, and Cerulli Associates announce global financial planning research. 

{/summary}{summary [full="0" link="0" class="class"]} {/summary}

Read more...

FINANCIAL PLANNING STANDARDS BOARD COMMENTS ON IOSCO’S PROPOSED SUITABILITY PRINCIPLES FOR COMPLEX FINANCIAL PRODUCTS

DENVER, CO – 29 May 2012 - Financial Planning Standards Board Ltd. (FPSB), owner of the international CERTIFIED FINANCIAL PLANNER certification program, comments on IOSCO's proposed suitability principles for complex financial products paper.

Read more...

DENVER, CO – 08 May 2012 - Financial Planning Standards Board Ltd. (FPSB), owner of the international CERTIFIED FINANCIAL PLANNER certification program, seeks nominations for two open positions on FPSB’s Board of Directors

Read more...

Denver, CO - FPSB's Update newsletter, highlighting FPSB's recent global meeting in Dubai, is now available.

Read more...

DENVER, CO – 16 April 2012 - Financial Planning Standards Board Ltd. (FPSB), owner of the international CERTIFIED FINANCIAL PLANNER certification program, will take advantage of Dubai as the location for its semi-annual global meeting from 23-27 April 2012 to explore opportunities for bringing FPSB’s global financial planning standards and CFP certification program to the Middle East.

Read more...

DENVER, CO – 2 April 2012 – Financial Planning Standards Board Ltd. (FPSB) welcomed moves by Australian government and regulators to introduce legislation recognizing the key role of financial planning professional bodies in the oversight of financial planners as a benefit to consumers.

Read more...

DENVER, CO – 07 February 2012 - Robust CERTIFIED FINANCIAL PLANNER certification programs in territories with advancing economies led worldwide growth in the number of CFP professionals for the third consecutive year.

Read more...

DENVER, CO – 18 January 2012 - FPSB, owner of the CFP, CERTIFIED FINANCIAL PLANNER and CFP logo trademarks outside the United States, has named Michael Snowdon, CFP, as its director of certification. A former practicing financial planner and financial planning educator, Snowdon has more than 25 years of experience in the financial planning profession, and is the author of nationally acclaimed financial education and training materials.

Read more...

DENVER, CO – 11 January 2012 - FPSB named Pamela J. Packard, CPA, president and CEO of Strategic Enterprises, LLC in Greenwich, Connecticut, to a four-year term on FPSB’s Board of Directors, starting 1 April 2012.

Read more...

Denver, CO - 09 November 2011 - Click here to download FPSB's Update Newsletter

Read more...

DENVER, CO -- 8 November 2011 - At its semi-annual meeting in Washington, D.C. last week FPSB named seven individuals to serve on its 2012 Nominating Committee.

Read more...

DENVER, CO – 7 November 2011 - The Board of Directors of FPSB named Steve Helmich as its Board chairperson-elect in 2012.

Read more...

DENVER, CO – 7 November 2011 - FPSB elected Tim Kochis, JD, MBA, CFP, to a four-year term on FPSB’s Board of Directors.

Read more...

DENVER, CO – 7 November 2011 - FPSB elected Barry D. Horner, CFP, to a four-year term on FPSB’s Board of Directors.

Read more...

WASHINGTON, D.C. – 3 November 2011 - FPSB released “The Global Practice of Financial Planning”.

Read more...

WASHINGTON, D.C. – 31 October 2011 - FPSB launched Financial Planet (www.financialplanet.org).

Read more...

6 Percent Growth Rate Yields 118,506 CFP Professionals in 20 Territories

DENVER,CO, USA, 5 MARCH, 2009 – Financial Planning Standards Board Ltd. (FPSB), owner of the CFP, CERTIFIED FINANCIAL PLANNER and CFP Logo Marks outside the United States, announced the global number of CFP professionals reached 118,506 by year end 2008. With an average 6 percent global growth rate, the number of CFP professionals roughly doubled in the past eight years to its current all-time high, with the majority of CFP professionals (59,676) now doing business outside the United States.

“From 42 CFP professionals in the United States in 1973 to the current 118, 506 CFP professionals practicing in some 20 territories around the world, CFP certification has emerged as the global symbol of excellence for financial planning,” said New Zealand-based Stephen O’Connor, CFP, chairperson of FPSB’s Board of Directors. “FPSB and the network of nonprofit standards-setting bodies that administer CFP certification globally build on 35 years’ of commitment to public-interest standards, a commitment that is being recognized by practitioners and consumers looking to manage their finances amidst the continuing global financial crisis,” he added.

“FPSB develops, promotes and enforces rigorous competency, ethics and practice standards that support enhanced professionalism and client-centric behavior by financial planners globally,” said Noel Maye, FPSB CEO. “FPSB is committed to collaborating with professional bodies, educators, financial services firms, consumer advocacy groups and regulators to ensure that consumers benefit from the financial planning process.”

As the need for long-term approaches to managing finances and to work with competent, ethical advisors that put the client first, consumers are seeing the value of working with a CFP professional. The number to CFP professionals has roughly doubled every five years for the past 12 years.

FPSB is governed by a nine-member board, and is supported by the FPSB Council, an advisory group representing 23 organizations that manage, or are preparing to manage, CFP certification programs in their respective territories. Territories where FPSB has a nonprofit member organization include: Australia, Austria, Brazil, Canada, Chinese Taipei, France, Germany, Hong Kong, India, Indonesia, Ireland, Japan, Malaysia, New Zealand, the Netherlands, the People’s Republic of China, the Republic of Korea, Singapore, South Africa, Switzerland, Thailand, the United Kingdom and the United States.

About FPSB

FPSB manages, develops and operates certification, education and related programs for financial planning organizations to benefit the global community by establishing, upholding and promoting worldwide professional standards in financial planning. FPSB demonstrates its commitment to excellence with the marks of professional distinction – CFP, CERTIFIED FINANCIAL PLANNER and CFP (Logo).

Global Growth [1973 - 2008]

CFP Certificant Global Growth [US/FPSB Territories]

2008 CFP Certificant Count by Territory

CFP^® Certification - Global Excellence in Financial Planning

DENVER,CO, USA, 3 MARCH 2009 – Financial Planning Standards Board (FPSB), owner of the CFP, CERTIFIED FINANCIAL PLANNER and CFP Logo marks outside the United States announced the addition of Carlos Gomez to its communications team in the role of technical writer. Gomez’ responsibilities will include drafting educational materials, policies and procedures and process documents for FPSB’s global certification program.

"Carlos brings significant experience in the area of technical communication and his background complements our strategy to substantially improve the support we provide our Members as they work to promote excellence in their CFP certification programs,” said Ramey Becker, director of communications.

Gomez has more than 15 years of writing and editing experience, including development of technical materials in the telecommunications and engineering industries. Prior to joining FPSB, he served as sales communications manager for a national health care insurance company where his duties included Web site, newsletter and collateral development.

About FPSB

FPSB manages, develops and operates certification, education and related programs for financial planning organizations to benefit the global community by establishing, upholding and promoting worldwide professional standards in financial planning. Territories where FPSB has a nonprofit member organization include: Australia, Austria, Brazil, Canada, Chinese Taipei, France, Germany, Hong Kong, India, Indonesia, Ireland, Japan, Malaysia, New Zealand, the Netherlands, the People’s Republic of China, the Republic of Korea, Singapore, South Africa, Switzerland, Thailand, the United Kingdom and the United States. FPSB demonstrates its commitment to excellence with the marks of professional distinction – CFP, CERTIFIED FINANCIAL PLANNER and CFP (logo).

CFP^® Certification - Global Excellence in Financial Planning

FPSB regularly develops publications and compiles data of interest to its members and, where appropriate, makes that information available to stakeholders. If you are interested in knowing more about a particular financial planning, certification or standards-setting topic, let us know.

Position Papers

• Response to IOSCO's Suitability Principles Paper (May 2012)
  

• Regulation and Oversight of the Financial Planning Profession (October 2010)
  

• The State of the Financial Planning Profession in the 'Post Trust' Era (December 2009) 
  

• Portuguese Version: The State of the Financial Planning Profession in the 'Post Trust' Era 
  

Principles

• FPSB Client Duty-of-Care Principles
  

White Papers

• The Global Practice of Financial Planning
  

FPSB Global Standards & Guidance

• Financial Planner Competency Profile
  

• Financial Planner Code of Ethics and Professional Responsibility
  

• Financial Planning Practice Standards
  

• Financial Planner Continuing Professional Development Standard
  

• Financial Planner Work Experience Standard
  

• Financial Planner Assessment Framework
  

• Financial Planning Curriculum Framework
  

• Financial Plan Framework
  

• Model Rules of Conduct for CFP Professionals
  

• Guidance for Candidates Developing a Financial Plan
  

• Guidance for Certifying Bodies Developing a Financial Plan Case Study
  

• Guidance on Financial Planner Work Experience Portfolio Development
  

• Guidance on Supervision of Financial Planner Work Experience
  

• Guidance on Implementing FPSB's Financial Planning Curriculum Framework
  

• Financial Plan Case Study
  

• Integrated Financial Planning Education Course Outline
  

Stakeholder Reports

• 2010 FPSB Stakeholder Report
  
• 2011 FPSB Stakeholder Report

Brochures

• FPSB: Global Excellence in Financial Planning
  

• CFP Certification: Financial Planning's Mark of Professional Distinction
  

Miscellaneous

• 2010 World Financial Planning Summit Recap Materials
  

• Global Regulation of Personal Financial Planning
  

• Education Programs for CFP Certification
  

Other Publications

• FPSB Strategic Plan (2013)
  

• Guide to Use of the CFP Marks
  

Download FPSB's media kit for information on the international standards-setting organization and CFP certification.  If you need additional information or are interested in speaking with a FPSB spokesperson, please contact FPSB's media contacts.

Fact Sheet
Backgrounder
Frequently Asked Questions
2013 Board of Directors Biographies

CFP Professional Global Growth and Distribution (2012)

FPSB's members are nonprofit organizations from 24 territories around the world that are committed to developing, promoting and enforcing world-class standards for financial planning professionalism. For more about FPSB Members, click on the links below:

Associate Member

FPSB Membership Classes

FPSB enters into licensing and affiliation agreements with nonprofit organizations (or their equivalent) around the world that allow the organizations to establish and operate the CFP certification program in a territory. FPSB Affiliates who meet and maintain FPSB’s affiliation criteria are authorized to administer the CFP certification program on behalf of FPSB in a territory.

FPSB Associates, like CAFP in Colombia, are organizations that are in the process of preparing to administer the CFP certification program on behalf of FPSB in a territory, and that have met FPSB’s association criteria.

To log on to this site, you must be a member of FPSB. The e-mail and password you use to log in must match the one on file with FPSB. To verify or change the e-mail address we have on file for you, please contact us.

Financial planning leaders, regulators and guests from more than 24 territories around the world gather at FPSB meetings twice a year to engage in an international dialogue on trends and developments in the global financial planning profession. FPSB holds two in-person Board of Directors meetings and two in-person FPSB meetings each year, and FPSB Members hold financial planning conventions and symposiums for practitioners and members of the public. 

Upcoming FPSB Meetings

• 22-26 April 2013 in Hong Kong

Past FPSB Meeting Locations

• 11-13 April 2011 in Frankfurt, Germany

• 31 October-2 November 2011 in Washington D.C.

• Seoul, Republic of Korea in October 2010
  

• Taipei, Chinese Taipei in April 2010
  

• Dublin, Ireland in November 2009
  

• Tokyo, Japan in April 2009

• Shanghai, People’s Republic of China in October 2008

• Christchurch, New Zealand in April 2008

• Salvador de Bahia, Brazil in October 2007

• Paris, France in April 2007

• Hong Kong in October 2006

• Vancouver, BC, Canada in April 2006

• Mumbai, India in October 2005

• Cape Town, South Africa in April 2005

• London, UK in October 2004

• Kuala Lumpur, Malaysia in April 2004

To benefit the public, FPSB regulates how CFP professionals use FPSB’s CFP, CERTIFIED FINANCIAL PLANNER and marks (the CFP Marks) outside the borders of the territory in which they first received CFP certification.  Download FPSB's Cross-Border Use Policy for detailed information about these rules.

Incidental Use

FPSB permits incidental use of the CFP Marks by CFP professionals outside the territory of their initial certification. Incidental use consists of displays of the CFP Marks in/on:

• articles published in a new territory;

• business cards or brochures distributed for purposes other than seeking financial planning business while traveling abroad; and

• websites targeted toward stakeholders in the territory of initial certification that are viewable outside the area’s borders.

Cross-Border Use

When a CFP professional displays the CFP Marks in a territory other than the one in which he or she was first certified while delivering, directly supporting or supervising the financial planning process or to hold himself or herself out as a CFP professional, FPSB considers this cross-border use of the CFP Marks. If an individual wishes to hold himself or herself out as a CFP professional or use the CFP Marks outside his or her territory of initial certification for anything other than incidental use, the CFP professional can pursue one of two options:

Across Borders Certification
An individual using the CFP Marks in more than one territory can become certified across borders by obtaining CFP certification from the FPSB Member in the new territory and abiding by the certification renewal requirements of both FPSB Members. Once the CFP professional has completed the process for certification across borders, he or she can identify himself or herself as a CFP professional in either territory as follows:

• Simon Lim, CFP* or

• Simon Lim, CFP* (Territory A and Territory B)
  (*Trademark superscript as described in FPSB’s Guide to Use of the CFP Marks)

Some of the more popular names for financial advisers or consultants include:

Financial Planner

A financial planner is someone who uses the financial planning process to provide a client with integrated strategies to achieve financial and life goals. The planner can take a holistic view of your financial situation – reviewing your budgeting and saving, tax, investment, insurance and retirement needs – or work with you on a single financial issue but within the context of your overall situation. This holistic approach may set the planner apart from other financial advisers, who may have been trained to focus on a particular area of your financial life. Many financial planners hold insurance or securities licenses that allow them to buy or sell products; others refer you to specialized financial advisers to implement recommendations. Ethical financial planners will refer you to other professionals for services that they cannot provide and disclose any referral fees they may receive in the process.

Accountant

Accountants provide you with advice on tax matters. In some cases, accountants must be licensed by the appropriate government regulatory agency.

Estate Planner

Estate planners provide you with advice on estate planning issues and put together a strategy to manage your assets at the time of your death. While attorneys, accountants, personal financial planners, insurance agents or trust bankers may all provide estate planning services, you should seek an attorney to prepare legal documents such as wills, trusts and powers of attorney.

Insurance Agent

Insurance agents are typically licensed by a regulatory body to sell life, health, property and casualty or other insurance products. Personal financial planners may identify and advise you on your insurance needs, but can only sell you insurance products if they are properly licensed.

Stockbroker

Stockbrokers are licensed by securities regulators to buy and sell securities products such as stocks, bonds and mutual funds. They generally earn commissions on all of their transactions.

© 2006, Financial Planning Standards Board Ltd. All rights reserved. Through a licensing agreement, material in this section is based wholly or in part on copyrighted materials owned by Certified Financial Planner Board of Standards Inc. See our copyright notice for more.

As the client, you are the focus of the financial planning engagement. As such, the results you get from working with a financial planner are as much your responsibility as they are those of the planner. To achieve the best results from your financial planning engagement:

Set Measurable Financial Goals.
Set specific targets of what results you want to achieve and when you want to achieve them. For example, instead of saying you want to be ‘comfortable’ when you retire or that you want your children to attend ‘good’ schools, quantify what ‘comfortable’ and ‘good’ mean so that you’ll know you’ve reached your goals.

Understand the Effect of Each Financial Decision.
Each financial decision you make affects other areas of your life. An investment decision may have tax consequences that are harmful to your estate plans. Or a decision about your child’s education may affect when and how you meet your retirement goals. Remember that all of your financial decisions are interrelated.

Re-evaluate Your Financial Situation Periodically.
Financial planning is a dynamic process. Your financial goals change along with changes in your lifestyle or circumstances, such as an inheritance, marriage, birth, house purchase or change of job. Revisit and revise your financial plan regularly to reflect these changes and stay on track with your long-term goals.

Start Planning As Soon As You Can.
Don’t delay your financial planning or wait until a money crisis to begin. People who save or invest small amounts early, and often, tend to do better than those who wait until later. By developing good financial planning habits such as saving, budgeting, investing and regularly reviewing your finances early in life, you will be better prepared to meet life changes and handle emergencies.

Be Realistic in Your Expectations.
Financial planning is a common sense approach to managing your finances to reach your life goals. It cannot change your situation overnight; it is a lifelong process. Remember that events beyond your control such as inflation or changes in the stock market or interest rates will affect your financial planning results.

Realize That You Are In Charge.
If you’re working with a financial planner, understand the financial planning process and what the planner should be doing. Provide the planner with all relevant information on your financial situation. Ask questions about the recommendations offered to you and play an active role in decision-making.

© 2006, Financial Planning Standards Board Ltd. All rights reserved. Through a licensing agreement, material in this section is based wholly or in part on copyrighted materials owned by Certified Financial Planner Board of Standards Inc. See our copyright notice for more.

If you are working with a financial planner, use the following statements to determine your level of comfort with your existing financial planning relationship. If you are not satisfied with your situation, assert your rights by talking to your financial planner about your concerns. A competent, ethical planner will seek to understand and meet your needs and will explain the reasons behind his or her decisions and actions.

[  ] My planner is diligent in carrying out his or her activities.

[  ] My planner responds to my phone calls or requests promptly.

[  ] Recommendations are appropriate for my situation.

[  ] I understand what I'm being charged and why.

[  ] I understand and accept my planner's potential conflicts of interest.

[  ] My interests drive the decisions being made.

[  ] I'm involved in decisions at the appropriate time.

[  ] I do not feel pressured to make certain decisions.

[  ] I get adequate information to make good decisions.

[  ] My planner investigates the products he or she recommends.

[  ] I get the service or products I pay for.

[  ] My planner presents his or her qualifications or abilities honestly.

[  ] The staff who works with me is properly supervised.

[  ] My information is kept confidential.

© 2006, Financial Planning Standards Board Ltd. All rights reserved. Through a licensing agreement, this checklist is based wholly or in part on copyrighted materials owned by Certified Financial Planner Board of Standards Inc. See FPSB’s copyright notice at fpsb.org for more.

Working with a financial planner can be an extremely rewarding and valuable experience for you and your family. If you’ve decided to work with a financial planner, it’s important to understand your rights in this professional relationship. By knowing your rights and what to expect from a financial planner, you can take an active role in shaping your financial future.

If you are working with a financial planner, take our quiz to determine your level of comfort with your financial planning relationship.

You have the right to a planner who has integrity.
Trust between you and your financial planner is central to a successful financial planning relationship. You rely on your planner’s honesty, professionalism and abilities to achieve your financial and life goals. When you know that your financial planner takes his or her professional obligations seriously, and places principles over personal gain, you can develop the type of partnership that is crucial to the success of any professional relationship.

You have the right to objective advice.
Your needs should be at the heart of all recommendations made by your financial planner. Your planner should use his or her experience and judgment to carefully consider your situation, and provide you with advice that best meets your goals. Sometimes, this objectivity may require the financial planner to explain that your goals are unrealistic given your current resources and financial commitments. Your planner may then suggest alternative goals or priorities.

You have the right to a planner who is competent.
You have the right to expect your financial planner to demonstrate an appropriate level of knowledge to offer financial planning advice, such as attainment of the CERTIFIED FINANCIAL PLANNER certification. Your planner should complete continuing education courses as part of his or her ongoing commitment to competency.

You have the right to be treated fairly.
Your financial planner should treat you the same way he or she would like to be treated in a professional relationship. This involves clearly stating what services will be provided and at what price. The planner should also explain the risks associated with his or her financial recommendations and any potential conflicts of interest. For example, does the planner gain personally or financially from your purchase of a particular product or from the outcome of a suggested strategy?

You have the right to privacy.
To get the best results from your financial planning relationship, you need to divulge relevant personal and financial information to your financial planner on a regular basis. Your planner should keep this information in confidence, only sharing it with others to conduct business on your behalf, at your consent, or when required to do so by court order.

You have the right to a planner who is professional.
Your financial planner should not provide investment advice or stock brokerage or insurance services unless he or she is properly qualified and licensed to do so, as required by law. If your situation requires expertise that your planner does not possess, he or she should suggest other professionals who may assist you.

You have the right to a planner who is diligent.
Your financial planner should discuss your goals and objectives with you and explain what you can expect from the relationship before engaging you as a client. Once the planner has determined that he or she (or his or her staff and/or network of related professionals) can assist you and has gathered sufficient information, the financial planner should make – and, if appropriate, implement – recommendations that are suitable for you. A diligent  financial planner reasonably investigates the products or services he or she recommends. A diligent planner also closely supervises any staff working with you.

© 2006, Financial Planning Standards Board Ltd. All rights reserved. Through a licensing agreement, material in this section is based wholly or in part on copyrighted materials owned by Certified Financial Planner Board of Standards Inc. See our copyright notice for more.

Download FPSB's CFP Certification: Faces of Financial Planning brochure.

Most people think that all financial planners are ‘certified,’ but this isn’t true. In most territories, the term ‘financial planner’ is poorly regulated, which means that people can call themselves financial planners without being qualified to do so. As more people call themselves financial planners, finding the right professional to address your financial planning needs isn’t always easy.

Only people who have fulfilled FPSB’s specific certification and renewal requirements are authorized to use the CFP, CERTIFIED FINANCIAL PLANNER and CFP logo marks (the CFP Marks). When selecting a financial planner, you need to feel confident that the person you choose to help you plan for your future is competent and ethical. The CFP certification provides that sense of security by allowing only those who meet initial CFP certification and renewal requirements the right to use the CFP Marks.

When working with a CERTIFIED FINANCIAL PLANNER professional, the client is the focus of the financial planning relationship and the client’s needs drive the recommendations. CFP professionals follow Professional Practice Standards when providing financial planning advice or services. These standards are based on the six-step financial planning process. This integrated approach to financial advice distinguishes CFP professionals from other financial advisers who typically focus on only one area of a person’s financial life.

When providing financial planning advice or services, a CERTIFIED FINANCIAL PLANNER professional has agreed to define the scope of the work he or she will conduct with a client, explain and document the services he or she will provide, discuss methods of compensation and share any other relevant information. CFP professionals must determine a client’s personal and financial goals, tolerance for financial risk, and time frame for achieving results, and gather all necessary financial information, prior to making any recommendations.

CERTIFIED FINANCIAL PLANNER professionals work in various settings including small financial planning practices, large financial services firms, banks and other financial institutions. They are compensated by salary, fees, commissions or a combination of methods. While all CFP professionals are trained to provide you with comprehensive financial planning services, some specialize in one or more areas, or work with specific types of clients. You may want to interview several CFP professionals to find one with whom best meets your needs. To verify if an individual is authorized to use the CFP Marks in your territory, visit Find a Planner.

© 2006, Financial Planning Standards Board Ltd. Through a licensing agreement, material in this section is based wholly or in part on copyrighted materials owned by Certified Financial Planner Board of Standards Inc. See our copyright notice for more.

Planner Name: _____________________________________

Company: _________________________________________

Address: __________________________________________

Phone: ______________________ Date: ________________

1. What experience do you have?

   Find out how long the financial planner has been in practice and the number and types of companies with which he or she has been associated. Ask the planner to briefly describe his or her work experience and how it relates to his or her current practice. Choose a financial planner who has sufficient experience counseling individuals on their financial needs.

2. What are your qualifications?

   Many different types of financial practitioners use the term ‘financial planner.’ Ask the financial planner what qualifies him or her to offer financial planning advice and whether he or she is a CERTIFIED FINANCIAL PLANNER professional. Look for a financial planner who has proven experience in topics such as insurance, tax planning, investments, estate planning or retirement planning. Determine what steps the financial planner takes to stay current with changes and developments in the financial planning field. If the planner holds a financial planning designation or certification, check on his or her background with the organization that awarded the credential.

3. What services do you offer?

   The services a financial planner offers depend on a number of factors including credentials, licenses and areas of expertise. Generally, financial planners cannot sell insurance or securities products such as mutual funds or stocks without the proper licenses, or give investment advice unless registered with appropriate regulatory authorities. Some planners offer personal financial planning advice on a range of topics but do not sell financial products. Others may provide advice only in specific areas such as estate planning or on tax matters.

4. What is your approach to financial planning?

   Ask the financial planner about the type of clients and financial situations he or she typically likes to work with. Some planners prefer to develop one plan by bringing together all of your financial goals. Others provide advice on specific areas, as needed. Make sure the financial planner’s viewpoint on investing is not too cautious or overly aggressive for you. Some planners require you to have a certain net worth before offering services. Find out if the financial planner will carry out the financial recommendations developed for you or refer you to others who will do so.

5. Will you be the only person working with me?

   The financial planner may work with you himself or herself or have others in the office assist in the process. You may want to meet everyone who will be working with you. If the planner works with professionals outside his or her own practice (such as attorneys, insurance agents or accountants) to develop or carry out financial planning recommendations, get a list of their names to check on their backgrounds.

6. How will I pay for your services?

   As part of your financial planning agreement, the financial planner should clearly tell you in writing how he or she will be paid for the services to be provided. Planners can be paid in several ways:

   • A salary paid by the company for which the financial planner works. The planner’s employer receives payment from you or others, either in fees or commissions, to pay the planner’s salary.

   • Fees based on an hourly rate, a flat rate, or on a percentage of your assets and/or income.

   • Commissions paid by a third party from the products sold to you to carry out the financial planning recommendations. Commissions are usually a percentage of the amount you invest in a product.

   • A combination of fees and commissions whereby fees are charged for the amount of work done to develop financial planning recommendations and commissions are received from any products sold. In addition, some financial planners may offset some portion of the fees you pay if they receive commissions for carrying out their recommendations.

7. How much do you typically charge?

   While the amount you pay the financial planner will depend on your particular needs, the planner’s level of experience and your geographic location, the financial planner should be able to provide you with an estimate of possible costs based on the work to be performed. Such costs should include the planner’s hourly rates or flat fees or the percentage he or she would receive as commission on products you may purchase as part of the financial planning recommendations.

8. Could anyone besides me benefit from your recommendation?

   Some business relationships or partnerships that a financial planner has could affect his or her professional judgment while working with you, inhibiting the planner from acting in your best interest. Ask the financial planner to provide you with a description of his or her conflicts of interest in writing. For example, financial planners who sell insurance policies, securities or mutual funds have a business relationship with the companies that provide these financial products. The planner may also have relationships or partnerships that should be disclosed to you, such as business he or she receives for referring you to an insurance agent, accountant or attorney for implementation of the financial planning recommendations.

9. Have you ever been publicly disciplined for any unlawful or unethical actions in your professional career?

   Several government and professional regulatory organizations keep records on the disciplinary history of financial planners and other financial advisers. Ask what organizations the planner is regulated by and contact these groups to conduct a background check. Also ask the financial planner to provide you with any government-required disclosure documents.

10. Can I have it in writing?

    Ask the financial planner to provide you with a written agreement that details the services that he or she will provide. Keep this document in your files for future reference.

© 2006, Financial Planning Standards Board Ltd. All rights reserved. Through a licensing agreement, material in this section is based wholly or in part on copyrighted materials owned by Certified Financial Planner Board of Standards Inc. See our copyright notice for more.

You may be considering help from a financial planner for a number of reasons, whether it’s deciding to buy a new home, planning for retirement or your children’s education, or simply not having the time or expertise to get your finances in order. Whatever your needs, working with a financial planner can be a helpful step in securing your financial future.

Choosing a financial planner may be one of the most important decisions you make for yourself and your loved ones. Financial planners can provide you and your family with guidance over your lifetime, or work with you to address specific concerns as needed.

A planner can play a central role in helping you meet your life goals and achieve financial wellbeing. Consequently, take the time to select a financial planner who is competent and trustworthy, on whom you can depend for professional advice and services, and whose business style suits your needs.

To help you choose a financial planner, FPSB has prepared interview questions and a checklist that you can use to evaluate several planners and find the one that’s right for you.

To find a planner in your area, click here. 

© 2006, Financial Planning Standards Board Ltd. All rights reserved. Through a licensing agreement, material in this section is based wholly or in part on copyrighted materials owned by Certified Financial Planner Board of Standards Inc. See our copyright notice for more.

Q. Who can use the term ‘financial planner?’
Most governments do not regulate financial planners as financial planners; instead, they regulate planners as stock brokers, insurance agents or investment advisers, depending on the services they provide. Consequently, many people who are not qualified to do so call themselves financial planners. To determine if a financial adviser is capable of offering comprehensive financial planning, review our information about the financial planning process and choosing a financial planner.

Q. Why should I choose a financial planner over another type of financial adviser?
Financial planners take an integrated approach to developing recommendations and strategies for your financial situation, while accountants, investment advisers, stockbrokers or insurance agents may focus on a particular area of your financial life. Review our information on different types of advisers.

Q. What is the best age to start financial planning?
While it is true that the younger you start the more beneficial the process will be, financial planning is worthwhile at any age. Although younger people may have more decisions to make regarding their financial lives, changing laws and circumstances can lead middle-aged people and seniors to have to adjust their financial plans as well. Changes in tax law, for example, may require many people to revisit certain investments or estate plans, and adequate disability planning becomes more important as people age.

Q. How are financial planners paid?
There is no uniform method by which financial planners are paid. A planner can be paid by a salary paid by the company for which the planner works; by fees based on an hourly rate, a flat rate, or on a percentage of your assets and/or income; by commissions paid by a third party from the products sold to you to carry out the financial planning recommendations; or by a combination of fees and commissions whereby fees are charged for the amount of work done to develop financial planning recommendations and commissions are received from any products sold.

Q. Do I have to pay a financial planner for the first interview? How much does a planner typically charge?
Most financial planners provide you with one free half-hour or hour meeting to talk about your reasons for wanting to work with them. During the initial interview, the planner will also decide if he or she can help you and explain how he or she would work with you. Like other professionals, the rates financial planners charge depend on their experience, geographic location, level of services and your needs. Interview more than one planner to get an idea of the going rate for financial planning services.

Q. Can I do my own financial planning?
Some personal finance software packages, magazines or self-help books can help you do your own financial planning. However, you may decide to seek help from a professional financial planner if:

• you need expertise that you don’t possess in certain areas of your finances. For example, a financial planner can help you evaluate the level of risk in your investment portfolio or adjust your retirement plan due to changing family circumstances;

• you want to get a professional opinion about the financial plan you developed for yourself;

• you don’t feel you have the time to spare to do your own financial planning;

• you have an immediate need or unexpected life event such as a birth, inheritance or major illness;

• you feel that a professional adviser could help you improve on how you are currently managing your finances; or

• you know that you need to improve your current financial situation but don’t know where to start.

© 2006, Financial Planning Standards Board Ltd. All rights reserved. Through a licensing agreement, material in this section is based wholly or in part on copyrighted materials owned by Certified Financial Planner Board of Standards Inc. See our copyright notice for more.

The financial planning process consists of the following six steps:

1. Establish and define the client-planner relationship.

   The financial planner should clearly explain and document the services that he or she will provide to you and define both his/her and your responsibilities during the financial planning engagement. The financial planner should explain fully how he or she will be paid and by whom. You and the planner should agree on how long the professional relationship should last and on how decisions will be made.

2. Gather client data, including goals.

   The financial planner should ask for information about your financial situation. You and the planner should mutually define your personal and financial goals, understand your time frame for results and discuss, if relevant, how you feel about risk. The financial planner should gather all the necessary documents before giving you the advice you need.

3. Analyze and evaluate your financial status.

   The financial planner should analyze your information to assess your current situation and determine what you must do to meet your goals. Depending on what services you have asked for, this could include analyzing your assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.

4. Develop and present financial planning recommendations and/or alternatives.

   The financial planner should offer financial planning recommendations that address your goals, based on the information you provide. The planner should go over the recommendations with you to help you understand them so that you can make informed decisions. The planner should also listen to your concerns and revise the recommendations as appropriate.

5. Implement the financial planning recommendations.

   You and the financial planner should agree on how the recommendations will be carried out. The planner may carry out the recommendations or serve as your coach, coordinating the process with you and other professionals such as attorneys, accountants or stockbrokers.

6. Monitor the financial planning recommendations.

   You and the financial planner should agree on who will monitor your progress towards your goals. If the planner is in charge of the process, he or she should report to you periodically to review your situation and adjust the recommendations, if needed, as your life changes.

© 2006, Financial Planning Standards Board Ltd. All rights reserved. Through a licensing agreement, material in this section is based wholly or in part on copyrighted materials owned by Certified Financial Planner Board of Standards Inc. See our copyright notice for more.

Financial planning is the process of meeting your life goals through the proper management of your finances. Life goals can include buying a home, saving for your child’s education or planning for retirement.

The financial planning process consists of six steps that help you take a holistic approach to assessing where you are financially. Using these steps, you can work out where you are now, what you may need in the future and what you must do to reach your goals.

The process involves gathering relevant financial information, setting life goals, examining your current financial status and coming up with a strategy or plan for how you can meet your goals given your current situation and future plans.

Financial planning provides direction and meaning to your financial decisions. It allows you to understand how each financial decision you make affects other areas of your finances. For example, buying a particular investment product might help you pay off your mortgage faster or it might delay your retirement significantly. By viewing each financial decision as part of a whole, you can consider its short and long-term effects on your life goals. You can also adapt more easily to life changes and feel more secure that your goals are on track.

© 2006, Financial Planning Standards Board Ltd. All rights reserved. Through a licensing agreement, material in this section is based wholly or in part on copyrighted materials owned by Certified Financial Planner Board of Standards Inc. See our copyright notice for more.

FPSB’s password-protected site serves as an online community and resource center for the organization’s international network of members who offer, or are preparing to offer, CFP certification.

FPSB Members can chat with peers, access tools and resources for administering and marketing a professional certification program, participate in online working groups, view web-based promotional and educational videos on a variety of financial planning topics, and more! To log into this site, you must be a member of FPSB. The e-mail and password you use to log in must match the one on file with FPSB. To verify or change the e-mail address we have on file for you, please contact us.

Welcome to Financial Planning Standards Board Ltd.'s (FPSB) Member Forum. If you login and continue to browse the Member Forum, you are agreeing to comply with and be bound by the following terms and conditions of use which govern FPSB's relationship with you as a user of the Member Forum.

The term Financial Planning Standards Board Ltd., FPSB, “us” or “we” refers to the owner of the website whose registered office is 1700 Broadway, Suite 700, Denver, CO, 80290, USA. The term “you” refers to the user of the Member Forum.

Use of the FPSB Member Forum is subject to the following terms and conditions:

1. As a user of the FPSB Member Forum, you have access to certain documents. You are reminded of the confidentiality agreements executed with organizations that you represent. You understand and agree that all materials, documents and information provided by FPSB Ltd. on the Member Forum must be held in strict confidence and may not be discussed with anyone outside the organization or the FPSB Council. You further understand and agree that all materials, documents and information not marked as confidential may be discussed with others only in accordance with the policies of FPSB Ltd., as adopted and amended from time to time.

   You understand and agree that all information concerning FPSB Ltd.’s and its Affiliates’ trade secrets; financial and business information, plans and strategies; trademark protection and branding strategies; marketing information and plans; cost and pricing information; usage data; certificant and FPSB Affiliate data and information; disciplinary matters; and administration and personnel information shall be considered confidential and proprietary, regardless of whether such information has been marked as confidential.

   You understand and agree that the disclosure of confidential information to unauthorized persons would be harmful to FPSB’s mission and objectives. You accordingly agree that you will not reveal such information or knowledge, either during your time as a delegate or observer or at anytime thereafter.

2. The content of the pages of the FPSB Member Forum is for your general information and use only. It is subject to change without notice.

3. Neither FPSB nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and materials found or offered on the Member Forum for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law.

4. Your use of any information or materials on the Member Forum is entirely at your own risk, for which we shall not be liable. Neither FPSB nor any party involved in creating, producing or delivering the Member Forum will be liable for any damages arising out of its use even if FPSB or the other party has been advised of the possibility of such damages. Because some jurisdictions prohibit the exclusion or limitation of liability for consequential or incidental damages, this limitation may not apply to you. It is your responsibility to ensure that any products, services or information available through this website meet your specific requirements.

5. The Member Forum contains material which is owned by or licensed to us. This material includes the design, layout, look, appearance and graphics. Reproduction is prohibited other than in accordance with FPSB’s copyright notice, which forms part of these terms and conditions.

6. FPSB may monitor or review discussions, postings or other transmissions on the Member Forum, but is under no duty to do so and assumes no responsibility or liability arising from such matters nor for any error, defamation, libel, slander, omission, obscenity, pornography, or inaccuracy contained in any such discussion, posting or transmission. You are prohibited from posting or transmitting any unlawful, threatening, libelous, defamatory, obscene, pornographic or erroneous material or otherwise violating any law through use of the Member Forum. FPSB will cooperate with law enforcement authorities or court orders seeking the identity of anyone posting such information or materials.