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2022 - 2025 STRATEGIC PLAN
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Our Strategic Goal:
Industry embraces professional financial planning, always in the client’s best interest.

 

 

FP Canada™ works closely with the financial services industry to ensure our credentials meet the changing needs of the market.

One big change is technology’s growing role in financial planning.

  • Technology can lower the cost of financial planning, making it accessible to more consumers.

In another shift, what clients expect has changed.

  • They want advice rather than a product sales pitch.

What industry expects is also changing.

  • Firms want education providers to offer comprehensive and professional programs that are flexible and that can be customized to fit with their workforce strategies.
  • New graduates are becoming client-facing earlier in their careers and need the skills to be able to build meaningful relationships with their clients.


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Millennials are a key demographic

  • They account for almost 30% of Canada’s population.
  • FP Canada’s research on their attitudes to money found that they are not adopting the values and expectations of their parents.
  • They are looking for financial planning advice that includes all aspects of their lives rather than only investment advice.
  • Millennial wealth will increase 480% over the next 10 years*. This is the greatest transfer of generational wealth in history.

*Source: 2021 Investor Economics Household Balance Sheet


 

 

 


OUTCOMES
By 2025

MEASURES
We will measure our success by increases in:


Industry practices reflect FP Canada standards, guidance and education

 

  • Industry sees QAFP™ certification as the credential of choice for clients with less complex financial planning needs.
  • Stronger industry participation rates in FP Canada education programs.
  • Industry satisfaction with FP Canada’s support and leadership in surveys of firms.
  • More firms embracing FP Canada guidance, standards and support in their own practice.

FP Canada certification pathways support industry to embrace financial planning, enhancing their workforce strategies.

 

  • New certification pathways are developed which recognize prior learning and experience.
  • Strong satisfaction levels with FP Canada certification programs among students and industry partners.

Industry has embraced CFP® certification and QAFP certification as designations of choice for professional financial planning.

 

  • CFP certification and QAFP certification are integrated into industry recruitment and training programs.
  • Industry and FP Canada partner on recruitment campaigns.
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Over the next three years, FP Canada will explore how financial planners can use technology to improve financial wellness for all Canadians, develop professional programs that support the new focus on advice and planning and adapt certification paths to meet the needs of both aspiring financial planners and industry.