ANNUAL REPORT 2021-2022

During my first year as President and CEO, I’ve learned a lot about the financial planning profession. I’ve had many opportunities to talk with financial planners across the country, as well as our many other stakeholders, such as industry firms, educators, other professional associations, regulators, governments and international colleagues. I’m grateful for the insights they’ve each provided, ranging from the day-to-day realities to the ‘big picture’ issues facing this profession. The collaboration of these stakeholders provides vital input to all our endeavours at FP Canada, and I look forward to many more important discussions in the future.

I am glad to report a successful year for FP Canada, with significant progress in key areas:

• Proclamation of title protection legislation in Ontario. FP Canada has championed titling legislation to strengthen consumer protection for many years, and we are very pleased to see it now in place in Ontario. With Saskatchewan and New Brunswick working on similar legislation, FP Canada is continuing to hold discussions with other provinces about the importance and consumer benefits of title protection for all Canadians.
• Strong growth in new certifications. In fact, Canada was among the top seven growth markets globally in 2021 in the number of CFP professionals, according to the Financial Planning Standards Board, which oversees CFP certification internationally. This is a testament to the growing demand for CFP certification in Canada. We continue to take steps to expand the pipeline of new financial planners entering the profession, with a focus on growing the diversity of our student and candidate populations.

It's been a productive year! My sincere thanks to our highly-engaged FP Canada Board of Directors for their advice, encouragement and support, as well as the hundreds of volunteers who support our work. And a big thank you to the wonderful FP Canada staff. One of my great pleasures this past year has been getting to know and work with this group of smart, talented, dedicated people. I look forward to continuing to work together to champion better financial wellness for all Canadians.

It’s hard to believe a whole year has passed since I began my tenure as Chair of FP Canada’s Board. This is my first message as Chair, and I am pleased to report on a productive and rewarding year for FP Canada.

Looking back, I’m proud to note that FP Canada continued to adapt to the demands of the COVID-19 pandemic to support professional financial planners, students, staff, volunteers, and consumers. As a result of these efforts, I believe we are emerging from the pandemic as an even stronger profession.

The pandemic clearly demonstrated the importance of the financial planning profession and highlighted how critical it is to have a comprehensive financial plan. Our annual Financial Stress Index found that during the pandemic, although nearly four in 10 Canadians said money was their no. 1 concern, Canadians who worked with a professional financial planner were far less likely to cite money as a top concern (23% vs. 39%).

Looking forward, the Board has focused on positioning FP Canada for future growth and success. Our priority this year was to support the development of FP Canada’s new three-year Strategic Plan, which charts a course toward IMAGINE 2030, the Board’s vision of financial wellness for all Canadians. As reflected in the Strategic Plan, expanding diversity and inclusion, and exploring the role of technology in the profession, are among our areas of focus.

I want to thank the entire Board of Directors for their steady support and helpful input throughout the year. My thanks also to the hundreds of volunteers who donated their time and expertise to various panels, committees and other groups. The commitment of all these people helps FP Canada fulfil its mandate to lead the advancement of professional financial planning. I’d also like to acknowledge the incredible FP Canada staff for their ongoing hard work and dedication.

And finally, I’d like to thank Tashia for such impressive leadership in her first year as President and CEO. Her accomplishments, energy, and inclusive approach confirm she is the right leader to shape the continuing evolution of the financial planning profession.