CFP ® Certification: A Global Perspective Noel Maye, CEO Financial Planning Standards Board Ltd. 22 November 2006

Wall Street Journal, 1/28-29/06

Wall Street Journal, 2/28/06

Ameriprise Financial “With over 2.5 million clients, more CERTIFIED FINANCIAL PLANNER TM practitioners than any other firm, strong asset management capabilities, … and a robust insurance and annuities business, Ameriprise Financial will be a leader in the industry.” Jim Cracchiolo, chairman and CEO of AEFA announcing the launch of Ameriprise Financial

Financial Planner Success Aspects of Financial Planner Success[Scale of 1 – 4] (1) People/Communication Skills3.68 (2) Having the CFP ® Certification3.43 (3) Referrals from Clients3.35 (4) Keeping up with Continuing Education3.34 (5) Educational Background3.26 (6) Specialization Survey of Trends in Financial Planning, College for Financial Planning

Financial Planner Earnings “For 2002, 2003 and 2004, respondents consistently report an increase in median annual gross earnings after receiving CFP ® certification.” 2004 Survey of Trends in Financial Planning, College for Financial Planning “Financial planners with the CFP certification earn about 30 percent more in pay and have better promotion opportunities.” Paul Pong, Institute of Financial Planners of Hong Kong “Having a CFP certificant on staff meant owners realized over 50 percent greater pretax income.” 2004 FPA(US) Financial Performance Survey

International CFP ® Certification

102,000 CFP ® Certificants (2qtr06) Australia5,414 Austria 100 Brazil 55 Canada 16,350 China0 Chinese Taipei250 France 1,433 Germany 1,002 Hong Kong 2,005 India 146 Indonesia0 Japan 13,830 Malaysia 3,684 New Zealand 368 Rep. Korea 1,136 Singapore 632 South Africa 3,150 Switzerland 235 UK 560 US 51,754

Countries Interested in CFP ® Marks Asia Pacific –Brunei –Philippines –Thailand Caribbean –Bermuda –Barbados Europe – Belgium – Bulgaria – Greece – Ireland – Italy – Netherlands – Poland – Spain Middle East – Egypt – Israel – Saudi Arabia – U.A.E. The Americas – Argentina – Chile – Mexico – Uruguay

Financial Planning Standards Board Established in 2004 to manage international CFP ® certification program (est. 1990) Nonprofit standards-setting organization for international federation of 19 certifying bodies (including FPAA) Mission to benefit and protect the global community by establishing, upholding and promoting worldwide professional standards in personal financial planning. FPSB’s commitment to excellence is represented by financial planning’s marks of professional distinction CFP ® CERTIFIED FINANCIAL PLANNER TM

FPSB Objective #1 FPSB is recognized as the preeminent international financial planning standards authority for competent and ethical personal financial planners. Achieved By: Global Competency Profile for Financial Planning –uniform global platform for 4Es and financial planning process –validated by FPSB network, FPAA rep on Certification Committee Cross-border reciprocity among Affiliates –Hong Kong  Mainland China  Chinese Taipei –Australia  New Zealand (+ commonwealth)

FPSB Objective #2 Each FPSB Affiliate is the premier organization in its country or region administering a professional financial planning certification program to benefit and protect the public. Achieved By: Certification Program Feasibility Index to choose new markets, partners Presentation to, vote by FPSB Council (FPSB Indonesia) Peer review program among 20 FPSB members FPAA – a leading certification program in region

FPSB Objective #3 FPSB Affiliates increase awareness of the value of the personal financial planning process and of CFP ® certification. Achieved By: FPSB Task Force to leverage global brand by country/region (formed at Nov ’06 meeting)- –FPA Australia led initiative –FPAA campaigns as reference for global messaging –FPAA can leverage other FPSB program in region

FPSB Objective #4 Personal financial planning is recognized as a distinct profession in FPSB Affiliate countries or regions. Achieved By: FPSB outreach to International Securities Commissions Organization (IOSCO) FPSB meetings with regulators in each Affiliate region Affiliate relationships with/outreach to local regulators “Best practices” sharing at FPSB Council Meetings

FPSB Objective #5 FPSB Affiliates have adequate resources to succeed and are in full compliance with CFP ® certification program standards. Achieved By: FPSB Assessment Program FPSB Affiliate Development/Training Program Community forum at FPSB Council Meetings

FPSB Objective #6 Each FPSB Affiliate’s CFP ® professional count meets national/regional demand. Achieved By: Benchmarking market penetration needs Growth in terms of breadth (new) and depth (existing) Outreach in Europe, South America, Middle East

Questions?