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Financial Planning Body of Knowledge

Version 1.0, Updated 20170907

The Financial Planning Body of Knowledge (FP-BoK) describes the knowledge expected of CFP professionals and FPSC Level 1 Certificants in Financial Planning and comprises 12 topics: Financial Planning Profession and Financial Services Industry Regulation; Financial Analysis; Credit and Debt; Registered Retirement Plans; Government Benefit Plans; Registered Education and Disability Plans; Economics; Investments; Taxation; Law; Insurance;and Human Behaviour.

While both certifications draw from the same Body of Knowledge, the knowledge expectations for CFP professionals are broader, given that they must provide objective financial planning advice at the highest level of complexity required of the profession. Visit the About page to view select examples of where CFP professionals are expected to have greater depth of knowledge.

The FP-BoK builds on the Canadian Financial Planning Definitions, Standards & Competencies to define the holistic nature and scope of financial planning for the benefit of the Canadian public, educators, students, industry firms and financial planning professionals.

The FP-BoK provides the underpinning for the FPSC Competency Profile. It is essential to the demonstration of competence in the fundamental financial planning practices and the financial planning areas of Financial Management, Investment Planning, Retirement Planning, Tax Planning, Insurance and Risk Management, Estate Planning and Legal Aspects. Knowledge around human behaviour, decision making and relationships is important for the demonstration of professional skills. Without appropriate levels of knowledge, the competencies cannot be demonstrated.

How to Use

You can click on any of the 12 topics below or in the menu bar to drill down to statements that describe the knowledge expectations of CFP professionals and FPSC Level 1 certificants.

You can also access case studies that illustrate the application of knowledge for each topic and reflect the expected differences in the complexity of scenarios that a CFP professional or a FPSC Level 1 certificant may face in practice.

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