Financial Planning Body of Knowledge

The Financial Planning Body of Knowledge (FP-BoK) defines the knowledge expected of newly certified QAFP^® professionals and CFP^® professionals. It is comprised of 12 topics:  Financial Planning Profession and Financial Services Industry Regulation; Financial Analysis; Credit and Debt; Registered Retirement Plans; Government Benefit Plans; Registered Education and Disability Plans; Economics; Investments; Taxation; Law; Insurance; and Human Behaviour.

As CFP professionals are expected to provide financial planning advice at the highest level of complexity required of the profession, the knowledge expectations set out in the FP-BoK are broader and deeper for CFP professionals than for QAFP professionals. The About page provides examples of areas in which CFP professionals are expected to have greater range and depth of knowledge than QAFP professionals. 

The FP-BoK builds on the Canadian Financial Planning Definitions, Standards & Competencies, a resource developed by FP Canada, through the FP Canada Standards Council and the Institut québécois de planification financière (IQPF) to provide a unified set of definitions, standards and competencies for individuals holding the Financial Planner, QAFP and CFP designations. Together, this resource and the FP-BoK benefit the Canadian public, educators, students, industry firms and financial planning professionals by defining the holistic nature and scope of financial planning in Canada.

The FP-BoK also provides the knowledge underpinnings for the FP Canada Standards Council Competency Profile for CFP® Certification and the FP Canada Standards Council Competency Profile for QAFP^® Certification. The competency profiles outline the competencies expected of CFP professionals and QAFP professionals in fundamental financial planning practices and in the financial planning areas of Financial Management, Investment Planning, Retirement Planning, Tax Planning, Insurance and Risk Management, Estate Planning and Legal Aspects.

The knowledge expectations set out in the FP-BoK in the areas of human behaviour, decision-making and relationships also support the development of professional skills and competencies by QAFP professionals and CFP professionals.

How to Use the FP-BoK

Click on any of the 12 topics (below, or in the navigation menu) to access the detailed knowledge expectations for QAFP professionals and CFP professionals.

The FP-BoK is maintained over time to ensure that the content remains current. When changes are made, the version label displayed at the bottom of the Home page and About page and in each of the impacted knowledge topic pages is updated. A history of all revisions is available on the Revision History page.

Version 2.0.0, Updated 20221111