Our Strategic Goal:
Industry embraces professional financial planning, always in the client’s best interest.
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.
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.
