FP Canada pursues its mandate with the support of its partners in the financial planning profession. This includes organizations that oversee the certification of financial planners in other jurisdictions, as well as regulatory bodies and representatives from the financial services industry.
The Institut québécois de planification financière (IQPF) is a Proud Partner of FP Canada. IQPF is the only organization in Quebec authorized to grant financial planning diplomas and to establish rules concerning the ongoing professional development of professional financial planners.
IQPF and FP Canada share the common pursuits of setting financial planning standards and ensuring that professional financial planners meet those rigorous standards of competence, professionalism and ethics. In addition, both organizations provide prospective and existing financial planners with education, tools, resources and support to meet the needs of their clients.
IQPF and FP Canada believe that creating a truly national profession requires greater harmonization of the standards that back the profession Canada-wide, as well as between the organizations leading the development of the profession in Québec and in the rest of Canada.
As such, IQFP has signed on as a Proud Partner of FP Canada. Under the partnership, the financial planning profession in Québec participates in the governance of FP Canada through representation on the Board of Directors and on important committees and Panels.
This strategic partnership creates a coordinated voice for the financial planning profession across the country and enables the two organizations to work together towards the common goal of establishing a unified Canada-wide financial planning profession for the benefit of all Canadians. In particular, IQPF is working with FP Canada to further unify the standards across the country, achieve greater consistency in the profession’s evolution and ensure efficient use of resources towards that end across the country, while recognizing the provincial jurisdictions over professions in Canada.
The partnership also includes a Joint Strategy Committee, which creates a formal mechanism for communication and for establishing a Canada-wide strategy for the financial planning profession.
FP Canada is part of an international network of 26 territories that are affiliates of the Financial Planning Standards Board (FPSB), which oversees CFP® certification internationally. FP Canada is authorized to administer the CFP certification program in Canada on behalf of FPSB. More than 175,000 individuals around the world are certified by FPSB’s member organizations to use the Certified Financial Planners® marks.
The Industry Advisory Council consists of representatives from a variety of financial services industry firms. This group provides strategic guidance to FP Canada on its certification programs and educational course content for prospective and existing financial planners. The Advisory Council also provides input on FP Canada’s future program plans.
FP Canada has signed information-sharing agreements with certain financial industry regulatory bodies, enabling more effective oversight and stronger consumer protection. Under a Memorandum of Understanding (MOU) between FP Canada and the Ontario Securities Commission (OSC), the two organizations share relevant information and undertake joint education and advocacy activities. Under an MOU between FP Canada and the Insurance Council of British Columbia (ICBC), the two organizations share information about complaints, disciplinary activities and other relevant developments.