A total of 507 candidates wrote October’s Certified Financial Planner® exam.
TORONTO, Dec. 8, 2022 /CNW/ – FP Canada has announced the results for the October sitting of the CFP exam. A total of 345 candidates wrote the exam for the first time, and the first-time writer pass rate was 70.7%.
FP Canada’s post-exam survey indicated that 87.4% of those who took the CFP exam in October did so to enhance their skills and better serve their clients. A total of 36.6% said title protection legislation was a motivating factor. The Financial Professionals Title Protection Act requires those who use the financial planner title in Ontario to hold a credential approved by the Financial Services Regulatory Authority of Ontario (FSRA), such as CFP certification. In addition, 30.3% of exam writers indicated that their employers required them to be certified, highlighting the value that firms place on FP Canada certifications.
Of the 507 candidates, the majority (342) chose to write the CFP exam at one of 29 test centres set up across the country. The remaining 165 opted to do so via online proctoring.
“We would like to congratulate all the exam candidates who successfully challenged the CFP exam in October,” said Tashia Batstone, FP Canada President and CEO. “I hope you’re all taking some time to celebrate your accomplishment – and I wish you all the best as you advance in your financial planning careers.”
CERTIFIED FINANCIAL PLANNER certification is the only globally recognized mark of professional financial planning. To obtain certification, candidates must complete a series of education requirements, including a post-secondary degree from an accredited college or university (at minimum), an FP Canada-Approved Core Curriculum Program, FP Canada-Approved Advanced Curriculum Program, the FP Canada Institute™ Introduction to Professional Ethics course and the CFP Professional Education Program, which focuses on the pillars of holistic financial planning, human behaviour, and honesty and ethics. They must also pass a rigorous national exam and complete at least three years of qualifying work experience.
Among other requirements, CFP professionals must adhere to the high professional standards established by the FP Canada Standards Council™ to maintain their certification.
As of September 30, 2022, there were approximately 17,000 CFP professionals in Canada, part of a global community of more than 200,000 CFP professionals in 27 territories around the world.
A national certification and professional oversight body working in the public interest, FP Canada is dedicated to championing better financial wellness for all Canadians by leading the advancement of professional financial planning in Canada. There are about 17,000 Certified Financial Planner professionals and about 2,000 Qualified Associate Financial Planner™ professionals (as of September 30, 2022), who meet FP Canada’s rigorous professional and ethical standards. Visit the FP Canada website for more information.
SOURCE FP Canada