NAUFOR and FPSB Sign MOU to Cooperate in Financial Consulting Sphere in Russia
MOSCOW – 6 MARCH 2017 – Today, the Russian National Association of Securities Market Participants (@NAUFOR_GOOD) and Financial Planning Standards Board Ltd. (@FPSB), owner of the international CERTIFIED FINANCIAL PLANNER certification outside the U.S., signed an agreement to cooperate in the area of certification for investment management and financial advisers in Russia.
The cooperation between NAUFOR and FPSB will focus on developing standards, training content and certification exams in the spheres of investment management and financial advice, based on the global financial planning standards, certification requirements and training content developed by FPSB, but localized to include information on products, laws and culture relevant to the Russian market. FPSB anticipates that some of the people trained and assessed at the investment adviser and financial adviser levels will want to later pursue attainment of the world-famous CFP certification.
“One of NAUFOR’s goals is to attract new clients who have never invested before to the securities market in Russia,” said Alexey Timofeev, NAUFOR’s President. “To do this, we need to develop a higher level of trust for the financial industry as a whole and consumers’ understanding of financial instruments. Investment advisors – who earn qualifications and are assessed to FPSB’s high level of ethics and professional standards – will increase the quality and prestige of financial advice in Russia, and support more clients accessing and participating in the Russian securities market.”
“FPSB is pleased to partner with NAUFOR on developing standards and education programs for investment management and financial advice practitioners in Russia, to benefit consumers and raise professionalism,” said FPSB CEO Noel Maye. “FPSB will bring our experience gathered in 26 countries around the world building the global financial planning profession and CERTIFIED FINANCIAL PLANNER program to support the professionalization of financial advisory practices in Russia, and to foster increased consumer trust in and dealing with the Russian securities market.”
NAUFOR is a statutory self-regulatory organization with wide responsibilities in regulation, supervision and enforcement of over 490 member-firms including brokers, dealers, custodians and asset management companies from the Russian securities industry. NAUFOR’s mission is to develop Russia’s domestic securities market, improve securities regulation and promote a fair and efficient environment that benefits investors and intermediaries alike. NAUFOR is headquartered in Moscow and has 12 regional offices across Russia. For more, visit http://www.naufor.ru/default.eng.asp.
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 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 2016, there were 170,101 CFP professionals worldwide. For more, visit www.fpsb.org.