FPSB STATEMENT ON THE GLOBAL FINANCIAL CRISIS (OCTOBER 2008)

SHANGHAI, CHINA – At a 29 October meeting in Shanghai, leaders of 23 financial planning organizations offering or preparing to offer CFP certification around the world:

• Recognized the strain the current financial crisis places on the emotional and financial wellbeing of consumers looking to achieve their financial and life goals;

• Empathized with consumers who, due to extreme market volatility and upheaval, are struggling to take a long-term view of their financial situation and stay focused on their financial plans;

• Re-affirmed a commitment to the value of the financial planning process – which includes an integrated approach to financial management, investing, tax, retirement, risk and estate planning – and the value that a relationship of trust with a CERTIFIED FINANCIAL PLANNER professional can provide;

• Encouraged consumers to continue to work with, or seek the counsel of, a qualified, competent and ethical financial planner, who can serve as a guide in these difficult times and review financial decisions that clients may need to make;

• Encouraged CFP professionals to use the resources of national CFP certification bodies, and to engage in dialogue with clients and peers about the importance of a long-term, integrated approach to meeting financial and life goals; and

• Encouraged CFP certification bodies and their members to play a leadership role with regulators, media, employers and other stakeholders in providing guidance to consumers on financial management strategies in these turbulent times.

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 mark.

CFP Certification - Global Excellence in Financial Planning