Financial Planning Standards Board Named Affiliate Member of OECD — INFE; Endorsed National Financial Literacy Guidelines for Nonprofits
Paris, FR – 28 April 2015 – Financial Planning Standards Board Ltd. (FPSB), owner of the international CERTIFIED FINANCIAL PLANNER certification program outside the United States, was recognized as an affiliate member of the OECD International Network on Financial Education (INFE) at FPSB’s April Global Member Meeting in Paris. At the same meeting, FPSB’s network of CFP certification bodies endorsed OECD-INFE’s Guidelines for Private and Not-for-profit Stakeholders in Financial Education, which define a framework and criteria for a nonprofit body involved in national financial education strategies and programs.
“In addition to establishing rigorous standards and CFP certification requirements for the global financial planning profession, FPSB and its member bodies are committed to educating consumers so that they can take control of their financial futures, “ said Steve Helmich, FPSB Board Chairperson. “While many of FPSB’s member organizations already conduct financial literacy efforts, our membership in OECD-INFE will help connect those efforts to others promoting national financial literacy strategies. It will also allow the global financial planning community to shape the OECD’s development of financial literacy initiatives. ”
INFE Executive Secretary, Flore-Anne Messy, welcomed FPSB and the voice of the global financial planning community to the OECD-INFE network. After an engaged discussion with the FPSB Board and member organizations, she commented, “I am more than ever convinced that there are many possible avenues for future cooperation between OECD-INFE and FPSB, and I look forward to our next steps. “
Additionally, during the FPSB meeting hosted by FPSB’s local affiliate Association Française des Conseils en Gestion de Patrimoine Certifies (CGPC), Verena Ross, Executive Director of the European Securities and Markets Authorities (ESMA), addressed the FPSB Board and leaders of FPSB’s European member bodies on: Europe’s regulatory environment; the implications of MiFID II for the financial advice/planning community; and opportunities for participation by CFP professionals and other financial advisers in ensuring appropriate levels of care and protection for those seeking financial advice in Europe.
Since FPSB was formed over 10 years ago, the number of CFP professionals has grown to almost 160,000 in over 26 countries and territories worldwide. At the Paris meeting, the FPSB Board and member organizations agreed on the need to grow the footprint of competent and ethical financial planners in existing and new FPSB territories to better address the global community’s need for competent and ethical financial planners. The group set a provisional target of 250,000 CFP professionals in 40 territories by the year 2025, and agreed to finalize the target by year-end after assessing territory-specific growth opportunities and challenges.
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 mark – which it owns in markets outside the United States. FPSB has a nonprofit member organization in the following 26 territories: Australia, Austria, Brazil, Canada, Chinese Taipei, Colombia, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Japan, Malaysia, New Zealand, the Netherlands, the People’s Republic of China, the Republic of Korea, Singapore, South Africa, Switzerland, Thailand, Turkey, the United Kingdom and the United States. At the end of 2014, there were 157,586 CFP professionals worldwide. For more, visit fpsb.org.
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