Since 2021, I’ve had the privilege of serving as President and CEO of FP Canada. During that time, I’ve seen financial planners adapt to a myriad of cultural, technological, and legislative developments.
When I started in my role as President and CEO of FP Canada in May 2021, the country and the world were still experiencing the challenges associated with the pandemic. CFP® professionals and QAFP® professionals across Canada continued to serve their clients, delivering critical financial planning support by adapting their businesses and leveraging digital solutions. One positive change that came out of that difficult time was the accelerated adoption of digital technologies, which has continued to grow in the past several years. Many Canadians now expect the option of a digital experience when working with a financial planner.
The conversation about technology is expanding and becoming increasingly centred around AI. Planners are increasingly aware that AI can enhance portfolio management, client communication, and risk analysis, facilitating more personalized financial advice and allowing for deeper insights and more tailored solutions. While I firmly believe in the future of human-centric planning, there’s no doubt that financial planners who embrace AI-driven technologies will have a competitive advantage over those who don’t.
What It Means to Be a Planner
In recent years, the financial services industry has shifted from a product-driven model to a more advice- and comprehensive planning-focused business. The result has been deeper relationships and more personalized service. These changes are aligning with the ongoing consumer demand for transparent, unbiased advice that prioritizes Canadians’ well-being over a more transactional approach.
When it comes to transparency, there have been other major developments related to title protection. Title protection legislation has created minimum standards around who can use the “financial planner” and “financial advisor” titles in Ontario. We’ve also seen significant progress in New Brunswick, Saskatchewan, and Manitoba. FP Canada and likeminded organizations continue to advocate to strengthen financial planning standards and ensure that all Canadians who seek advice work with ethical, highly qualified professionals.
Serving All Canadians
Finally, in the last few years, many financial services firms have advanced from holding early discussions about creating more diverse, equitable, and inclusive environments to taking action. At FP Canada, we’ve remained committed to helping ensure the profession reflects all Canadians — including women and gender-diverse individuals, racialized Canadians, Indigenous peoples, members of the 2SLGBTQ+ community, and those with disabilities, among others.
This commitment is reflected in IMAGINE 2030, our vision of financial wellness for all Canadians, and our new 2025-2030 Strategic Plan, to be released later this fall.
Looking back on the last three years, it’s clear that the pace of change is faster than ever, and it’s not slowing down anytime soon. As a profession, we must stay abreast of new developments and work collaboratively toward solutions to ensure Canadians have access to the high-quality financial advice they deserve.
