The letters “CFP” stand for Certified Financial Planner. The CFP marks identify individuals who are dedicated to the highest level of professionalism in providing financial planning advice. The CFP credential assures that the planner adheres to internationally recognized professional standards of competence and ethical practice as set in Canada by the not-for-profit Financial Planners Standards Council (FPSC). CFP standards include requirements in education, examination, experience and ethics – commonly known as the 4Es of professionalism.

CFP professionals follow a professional code of ethics and practice standards described in detail in the brochure entitled: “What assurance do I have that financial planning works for me?”

The CFP Code of Ethics requires each CFP professional to adhere to ethical and behavioural principles that ensure the client’s best interests are always placed first.

The CFP Financial Planning Practice Standards describe what should happen during the financial planning process, providing guidance on how the CFP Code of Ethics is practically applied in every financial planning situation each step of the way.

Look for the distinctive CFP certification marks: CFP flame logo, and the initials CFP or the words Certified Financial Planner. Only FPSC can authorize an individual to use these three marks in Canada. You can also check the CFP professionals Directory on this website or call FPSC at 416.593.8587 or 1.800.305.9886 to verify a planner’s status as a CFP professional.

Financial planning as a distinct profession began to take shape in the late 1970s. While giving financial advice was not a new thing, it had become synonymous with the sale of products. As the general public began to show a lack of faith in public pension funds and baby boomers got older and had more disposable income, financial planning type advice was increasingly sought. Boomers began to ask financial planning type questions of their "product" advisors - questions few "advisors" were capable of answering. The traditional pillars dictated the services provided were done piecemeal. Financial planning, using all financial factors like insurance, retirement planning, estate planning, education planning, to name a few, was not available.