Become a Certified Necessity® THE CFP® DESIGNATION Become a Certified Necessity® Presented by: Date: For:

Introduction How I got here What I’ve learned What I love about my job What challenges me What I want you to know

FPSC is the sole Canadian licensing authority of CFP® marks. FPSC® is a not-for-profit organization which develops, promotes and enforces professional standards in financial planning through Certified Financial Planner® certification. FPSC is the sole Canadian licensing authority of CFP® marks. FPSC’s purpose is to drive value and Instill Confidence in Financial Planning. If you have any specific questions on how to navigate the path to CFP certification, please feel free to contact FPSC at 1-800-305-9886 or visit their website at www.fpsc.ca 3

WHAT IS FINANCIAL PLANNING? Financial planning takes into account the interrelationships among relevant financial planning areas in formulating appropriate strategies. For more information, please visit www.financialplanningforcanadians.ca WHAT EXACTLY IS “FINANCIAL PLANNING”? Financial planning takes a holistic, big picture view of you, your lifestyle, and your financial needs and priorities. Without this broad approach, it’s like trying to see out a window with the curtains half-closed. You need the full view to understand and make the right decisions about every aspect of your finances. WHAT DOES A FINANCIAL PLAN INCLUDE? A comprehensive financial plan covers every area of your financial life, from investments and real estate to insurance and retirement planning. There are a number of financial planning areas that a comprehensive financial plan may take into account: Financial Management: Your current and projected future financial position, including cash flow (the balance of what you’re earning, spending and saving), budget and net worth. Insurance and Risk Management: Strategies to minimize your exposure to unexpected financial loss due to death, health issues, property damage, business and other risks. Investment Planning: Managing your investments based on past experience, attitudes, objectives, times horizon, risk tolerance and need for income. Retirement Planning: A plan for your post-employment financial well-being, comparing your desired retirement lifestyle with retirement assets, planned savings, expected sources of income and return on investment. Tax Planning: Your current and future tax obligations and strategies to minimize or defer taxation on personal and/or business income. Estate Planning: Arranging for payment of expenses and obligations after your death, as well as transfer of your wealth and other assets to successors as specified in your will and outside your will. Legal Aspects: Your legal rights and obligations, including spousal and child support obligations or entitlements, third party obligations, shareholder, partner or trust agreements, and powers of attorney or mandates.  FinancialPlanningForCanadians.ca 4

WHY CONSIDER A CAREER IN FINANCIAL PLANNING? Why Consider a Career in Financial Planning? The majority of Canadians are not getting the Financial Planning help they need.

THERE IS A NEED Canadians are not preparing for their financial future Nearly half of all Canadians do not contribute to the RRSPs¹ Canadians on target for record year of personal debt in 2014² According to an RBC Poll, 60% of women and 54% of men do not have a financial plan³ Household debt hit a record 163.3% in the last quarter of 2014⁴ Significant numbers of men and women lose sleep over financial worries (51 per cent of women; 40 per cent of men) ⁵ In May 2014, CNBC reported that 43% of advisors are over 55, and just 11% are under 35. The average advisor is 50.9 years old. With so many advisors near retirement age and so few young people coming into the field just as the demand for financial advice is accelerating, consulting firm Moss Adams has estimated that the industry could face a shortfall of more than 200,000 advisors by 2022. ⁶ ¹ Yahoo Canada, February 4, 2015: https://ca.finance.yahoo.com/blogs/pay-day-/cash-flow-debt-keep-canadians-from-saving-for-200757249.html ²Financial Post, February 26, 2014: http://business.financialpost.com/personal-finance/debt/canadians-on-target-for-record-year-of-personal-debt-despite-better-end-to-2013-transunion ³RBC.com, February 17, 2015: http://www.rbc.com/newsroom/news/2015/20150217-rrsp-poll.html ⁴Globe and Mail, May 10, 2015: http://www.theglobeandmail.com/life/health-and-fitness/health/debt-could-negatively-affect-our-physical-health/article24334912/ ⁵ FPSC.ca, November 13, 2014: http://www.fpsc.ca/about-fpsc/news/2014/11/13/canadians-cite-money-worries-as-greatest-source-of-stress ⁶ Forbes.com, May 19, 2015: http://www.forbes.com/sites/investor/2015/05/19/advisor-a-new-word-for-the-graduate-of-2015/ THERE IS A NEED

A Case for the CFP® Designation By the Numbers 1. CFP Professionals Make Great Employees 2. CFP Professionals = Satisfied Clients 3. Firms Support Attainment/Retention of CFP Certification In 2013, FPSC participated in an international study conducted on behalf of the Financial Planning Standards Board Ltd. (FPSB) by Comparator, an Australian benchmarking organization. Twelve countries including Canada participated in what was deemed the global “Value of CFP Certification Study." A total of 114 financial services firms participated in the survey.  CFP Professionals Make Great Employees 76% of firms see higher rates of career advancement for CFP professionals. CFP Professionals = Satisfied Clients 84% of firms say employing CFP professionals has a positive impact on clients’ satisfaction with the firm. Firms Support Attainment/Retention of CFP Certification 79% of firms contribute financially to advisers’/planners’ pursuit of CFP certification, including nearly half of the firms who pay all associated costs. 65% of CFP professionals earn over $100,000 7

A Case for the CFP® Designation By the Numbers According to this same international study: 100% of Canadian CFP professionals vs. 76% of non CFP professionals reported higher rates of career advancement The majority of firms plan to grow the number of CFP professionals by 15.3% 8

The CFP® Designation: An Exciting, Global Profession There are over 170,000 CFP Professionals in 26 territories around the world Here are some stats from FBSB. 9

FPSC embarked on a three year longitudinal study which was designed to evaluate and better understand the value proposition of financial planning. Surveys were conducted from August 2009 – August 2012. The research surveys the general English-speaking population in Canada (excluding Quebec). The results listed are from the third year of research, conducted from April – August 2012. Canadians who work with a CFP professional are more likely to report their financial affairs are on track than those dealing with non- certified planners (78% vs. 54%). More Canadians who are using a CFP professional believe that financial planning has helped them have greater peace of mind than those working with a non-certified planner (73% vs. 63%). 81% of respondents who participated in comprehensive planning felt “on track with financial affairs” vs. only 44% of individuals who had not engaged in planning of any kind. 61% of respondents felt they had enough money to live the life they want vs. only 31% of individuals who had not engaged in planning of any kind. 10

How to Achieve CFP® Certification 11

Routes to CFP® Certification Previous Qualification Exemption Opportunity Documentation Required PFP Designation Apply for FPSC Level 1 Certification in Financial Planning Transcript confirming the individual holds the PFP designation in good standing. Pl. Fin CFP credential from an FPSB Member in another territory Apply for the CFP examination Attestation from governing body confirming the individual’s qualifications in good standing. Individual must meet all other CFP certification program requirements. CPA CFA CLU FCIA Lawyer Quebec Notary Apply for the FPSC Level 1 Examination or directly to an FPSC-Approved Capstone Course (with 5 years of qualifying work experience) Attestation from governing professional body confirming the individual’s qualifications in good standing. 12

Upcoming Key Dates and Fees: FPSC Level 1® Examination in Financial Planning Important Dates Date Event April 6, 2018 Examination preparation webinar April 9, 2018 Early bird registration closes for examination May 1, 2018 Exam registration closes Last day to provide educational transcripts Last day to request a withdrawal/postponement May 31, 2018 Examination takes place Here are the Key dates and Fees for the upcoming exam Prepare for Success in the Exam The FPSC Level 1 Examination in Financial Planning Practice Exam is the ideal study tool to help ensure success in the exam. It lets you experience how the exam looks and feels as it provides feedback on your performance. Visit our FPSC Study Toolkit page for more tips and tools to get ready for the FPSC Level 1 examination. Fees Early Bird (by October 3, 2017) Regular (after October 3, 2017) Exam Only $550 $650 Exam + Practice Exam $675 $775 13

Preparation: Study Resources You can find the FPSC Study Toolkit, Preparation Checklist and Video Series on the Path to CFP certification all at www.beafinanciaplanner.ca Whether you’ve already registered for FPSC Level 1 examination or are just getting a head start, these tools and documents will help you arrive prepared on the big day. beafinanciaplanner.ca 14

The CFP® Designation is the Standard in Financial Planning After obtaining the CFP designation, your clients and colleagues will know that you have passed two national certification examinations; completed ongoing relevant education; obtained specific work experience requirements; and agreed to adhere to the Standards of Professional Responsibility for CFP® Professionals and FPSC Level 1® Certificants in Financial Planning which includes FPSC Code of Ethics, Rules of Conduct, Fitness Standards and Financial Planning Practice Standards. 15

To Find Out More About Becoming a CFP® Professional beafinanciaplanner.ca

Access Exclusive Resources Step 1: Create an account at online.fpsc.ca/fpsc-candidate-profile Step 2: Fill out the online form so that we can learn more about you

Disclaimer This presentation was initially prepared by Financial Planning Standards Council® (FPSC). Comments and opinions that are expressed by (Name of CFP Professional Ambassador) are those of the CFP professional and do not necessarily reflect the views of FPSC. CFP®, Certified Financial Planner® and CFP (with flame logo) ® are certification trademarks owned outside the U.S. by Financial Planning Standards Board Ltd. (FPSB). Financial Planning Standards Council is the marks licensing authority for the CFP marks in Canada, through agreement with FPSB. All other ® are registered trademarks of FPSC, unless indicated. ©2017 Financial Planning Standards Council. All rights reserved.

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