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Defining Financial Planning & Financial Planner Expectations

These documents serve to further define the expectations of CFP® professionals and FPSC Level 1® certificants for better clarity by consumers, more consistent delivery of financial planning by firms and practitioners and to better equip you as educators in preparing the next generation of financial planning professionals for practice.

Defining Financial Planning & Financial Planner Expectations Graphic
  • Guidance to the FPSC Financial Planning Practice Standards

    Two case scenarios that exemplify integrated financial planning and the professional skills expected of an FPSC Level 1® certificant and a CFP® professional form the backdrop to the Guidance to FPSC’s Financial Planning Practice Standards. This document offers clarity around the expectations for  CFP professionals and FPSC Level 1 certificants and illustrates their expected practice. The case studies may be leveraged in whole or in part by educators.

  • Guidance to the FPSC Rules of Conduct

    The purpose of the Guidance to the FPSC Rules of Conduct (found within the Standards of Professional Responsibility for CFP® Professionals and FPSC Level 1® Certificants in Financial Planning) is to illuminate the professional obligations of members of the financial planning profession. This document offers educators and students greater clarity around the expectations of FPSC certificants as professionals and how these expectations may play out in practice, ensuring that the clients’ Interests are placed above all others. The Guidance offers educators an opportunity to help prepare the next generation of professionals by instilling their professional obligations. Educators may use the guidance in developing real-life case scenarios that highlight common ethical dilemmas financial planning professionals may face and appropriate responses.

  • FPSC/IQPF Projection Assumption Guidelines

    An important part of a financial planner’s work involves projecting the needs of their clients, including retirement needs, insurance needs, education needs, the needs of disabled children, etc. The Projection Assumption Guidelines are intended as a guide in making financial projections that are free from the potential biases of financial planners. The Guidelines have been developed based on a number of reliable sources (all of which were confirmed by a Committee of actuaries and CFP professionals) and are expected to be expanded this year. Educators should refer students to the Projection Assumptions Guidelines for use in projecting client needs.   

  • Financial Planning Body of Knowledge

    The Financial Planning Body of Knowledge offers clarity in the knowledge expectations of CFP professionals and FPSC Level 1 certificants. The work makes clear the depth of knowledge required in the practice of financial planning. To support educators in the delivery of competency-based learning, case study illustrations have been developed that reflect the application of knowledge in practice. The document is expected to be completed this year and be ready for validation with CFP professionals and subsequently distributed to educators for use in building course syllabi, assignments and assessments. In the interim, we continue to invite your input to the various topic sections posted on your FPSC Portal.