Since financial planning in Canada is not nationally regulated, it is the CFP standards of competency and ethical behaviour that define the profession of financial planning. Throughout Canada, the public can look to the CFP designation as a mark of quality and professional integrity.

CFP professionals can specialize in many different disciplines and may be compensated by a variety of means. Regardless of whether they are actively involved in financial planning or in other areas of financial services, all CFP professionals must subscribe to the same Code of Ethics based on seven Principles: Integrity, Objectivity, Competence, Fairness, Confidentiality, Professionalism and Diligence. These Principles recognize the individual CFP professional's responsibilities to the public, clients, colleagues, employers and the profession.