Financial Planning

Financial planning is more than a set of tactics. Financial planning is a process that determines how you can best meet your life goals through the proper management of your financial affairs.

Looking at the big picture
The key to effective financial planning is the ability to take into account all relevant aspects of your financial situation (³the big picture´), and to identify and analyze the interrelationships among sometimes conflicting objectives. This unique integration of knowledge and skills across a broad range of topics distinguishes professional financial planning from other related financial advice. This requires the skills of a competent and ethical expert.

Finding the right financial planner
A financial planner is more than an investment advisor, more than an accountant or debt counselor. So how can you distinguish a competent and ethical financial planner? What is your due diligence to ensure you are hiring a professional planner who will act in your best interests? Whether you are already working with a financial planner or you are looking to hire one, the resources in this section will help you to evaluate whether a specific financial planner is someone who you can trust and work with to attain your goals.

Why choose a CFP® professional?
Certified Financial Planner (CFP), Certification is the industry gold standard in financial planning. CFP professionals are the largest identifiable body of licensed financial planners in Canada with over 17,500 individuals meeting the strict standards to attain this designation.
Learn more about the gold standard for financial planners, and the assurance it provides to clients

CFP® Certification
Certified Financial Planner (CFP®) certification is the industry gold standard in financial planning. CFP professionals are the largest identifiable body of licensed financial planners in Canada with over 17,500 individuals meeting the strict standards of this designation. Since financial planning is not regulated in most Canadian provinces, anyone can call themselves a "financial planner"; but not everyone who refers to themselves as a planner is indeed qualified. In the absence of government regulation, Canadians seeking competent

and ethical financial planning services should look for the CFP mark. CFP certification provides assurance that the planner is committed to internationally-recognized professional standards of competence, ethics and practice as set and enforced in Canada by FPSC. These Standards include:
y y y y

completion of education in financial planning; successful completion of rigorous standardized examinations; financial planning work experience; and, an ethical commitment to putting the client's interest first.

CFP professionals are also held to ongoing rigorous standards through FPSC's continuing education requirements and enforcement processes. As a certifying organization, FPSC has committed itself to meeting the highest standards of performance. FPSC has received ISO 17024 accreditation by the Standards Council of Canada (SCC) for its role as the certifying body for the CFP certification program in Canada. This demonstrates that the CFP certification program has met the highest global standards for fairness and diligence, and that the CFP designation is conferred by a body worthy of the trust of consumers, industry and financial planners alike.

Interested in earning CFP certification?
If you are interested in a career in financial planning, obtaining CFP certification demonstrates to your clients that you are committed to exemplifying the industry gold standard in financial planning. Earning CFP certification will equip you with all the skills, abilities and knowledge necessary to be a competent and ethical financial planner working directly one-on-one with clients. Click on the various steps along the Path to CFP Certification graphic below to learn more about each of the requirements. You can also download the Path to CFP Certification booklet for more information

Financial Planning Process
Financial planning is a comprehensive, iterative process. The following steps should guide your planner. Be familiar with them. They'll help you get the most out of the process. And remember, it's this big-picture approach that sets financial planners apart from all other financial advisors who may have been trained to focus only on one aspect of your finances. Each client will have different needs, and your planner may not follow each of these steps in precisely this order. However, it¶s important for you to have an idea of what you can reasonably expect from this process.

It¶s also important you review your plan annually and update it. You and your planner should: y y Discuss the scope of the client/planner engagement. identify any problem areas and opportunities Your planner should: y y Analyze your information to assess your current situation (cash flow. etc. Gather all the necessary documents before giving you the advice you need.). You and your planner should: y y Define your personal and financial goals. net worth. It¶s a good idea to update your plan when a major life event (birth of a child. needs and priorities. determine your goals and expectations Your planner should: y y Obtain information about your financial resources and obligations through interviews or questionnaires. Identify any problem areas or opportunities with respect to your: o Capital needs o Risk management needs and coverage o Investments o Taxation . financial outlook and desired results as they relate to your financial goals. or you meet a previously defined goal. Your needs define your plan ± not vice versa! Establish the client Your planner should: y y y y planner engagement Explain issues and concepts related to the overall financial planning process that are appropriate to you. retirement) occurs. Investigate your values. Clarify your present financial status. Gather client data. This should include a discussion about how and by whom he or she will be compensated. Explain the services he or she will provide and the process of planning and documentation. needs and priorities. tax projections. if necessary. Agree on how decisions will be made. Clarify his or her responsibilities as your planner. Clarify your responsibilities as a client. preferences.

o A review of your life circumstances and an adjustment of the recommendations if needed as those circumstances change through life events such as birth. insurance agents and lawyers.e. your planner should: y Periodically contact you to review the progress of the plan and make adjustments to the recommendations required to help you achieve your goals. 10 Tips for Choosing a Financial Planner . Implement the financial plan Your planner should: y Assist you in implementing the recommendations discussed if you want. You and your planner should: y Work together to ensure that the plan meets your goals and objectives. retirement. If your planner is in charge of the process. This review should include: o A review and evaluation of the impact of changing tax laws and economic circumstances. and risk tolerance.) Develop and present the financial plan Your planner should: y y y Develop and prepare a financial plan tailored to meet your goals and objectives.o o o o Retirement planning Employee benefits Estate planning Special needs (i. etc. Monitor the financial plan You and your planner should: y Agree on who will monitor and evaluate whether your plan is helping you progress toward your goals. adult dependent needs. accountants. This may involve coordinating contacts with other professionals such as investment funds sales representatives. while providing projections and recommendations. etc. values. marriage. education needs. illness. Present the plan to you Establish an appropriate review cycle.

areas of specialty. not everyone who refers to themselves as a planner is indeed qualified.e. BE PREPARED. UNDERSTAND FEE STRUCTURES. Also ask about their approach to clients and ensure they are a good fit in terms of expertise.. such as Certified Financial Planner certification. as well as on-going adherence to standards of practice and a code of ethics. We offer you the following ten tips to prepare you and help you in your search for the right planner. ask them if they know of or have worked with financial planners they would recommend to you. THINK ABOUT YOUR FINANCIAL AND PERSONAL GOALS. either by phone or in person. Choosing a Financial Planner: Ten Tips 1. 3. salary) so understand how a particualr planner will be compensated. you need to be able to recognize who you can trust. ASK FOR REFERRALS. . represent high standards of experience. Take the time to reflect on what's most important to you for both today and tomorrow. and personality. and some only require day or weekend courses to earn. many so-called financial planners are licensed to sell products but have no financial planning training or expertise. INTERVIEW MORE THAN ONE PLANNER. consumers must ensure their planner is indeed trained. 7. Planners are paid in a variety of ways (i. Insist on a written letter (sometimes called an engagement letter) outlining the specific terms of the engagement and any potential conflicts of interest. 2. Do some independant research to maximize your familiarity with financial planning terms and strategies. However. but also take the time to verify the planner's credentials by contacting his professional body to confirm he is in good standing. and held accountable in providing professional financial planning. GET IT IN WRITING. commission. and knowledge. YOUR DUE DILLIGENCE. There are a variety of different designations in the financial services industry. and ask them to outline their qualifications and experience. 6. LOOK FOR COMPETENCE AND ETHICS. While a good financial planner will explain things to you.In your search for a competent financial planning professional. understanding the basics will allow you to engage more with the process. This means that anyone can call themselves a "financial planner". certified. FInancial planning is about putting the right strategies in place to meet your life goals. Others. Get referrals from sources you trust. competence. Speak with friends and family members whom you trust. In the absence of government regulation. 5. The letter should also clearly disclose the planner's method of compensation and business affiliations. 4. fee-only. 8. Interview two or three planners. Financial planning is not regulated in most Canadian provinces.

Ask what training she has successfully completed. Ask what steps she takes to keep up with changes and developments in the financial planning field and the financial services industry at large. working with a financial planner can be a helpful step in securing your financial future. These questions will help you interview and evaluate several financial planners to find a competent. saving for children's education or simply to get help putting finances in order. professional financial planner. IT'S ALL ABOUT FIT If you don't feel comfortable discussing personal issues with a particular planner. insurance. and have your planner update your plan accordingly. Any professional will welcome them. Ask whether she holds any professional credentials or designations. trust and communication (on both sides) are critical to the success of the planning relationship. qualified professional with whom you feel comfortable and whose business style suits your financial needs. retirement planning and estate planning . Honesty.9. It requires hands-on experience and a strong technical understanding of topics such as personal tax planning. In a way. Think of interviewing a potential planner as similar to interviewing a person who is applying for a job you¶ve posted. . Certified Financial Planner certification. Ask the planner what her qualifications are to offer financial advice and if. they are ± they want to be your personal money manager! And you need to ask the right questions to see if this person is ethical and competent to handle the responsibility of managing your financial future.500 people across Canada. is held by almost 17. 10. Don't be afraid to ask these and any other questions you feel need a full and open answer. investments. 1. which is recognized internationally as the mark of the competent. Finding the right planner is extremely important because your choice will almost certainly affect your financial future. 10 Questions to Ask Your Planner You may be seeking help from a financial planner for a number of reasons: planning for retirement. Make sure your planner understands your needs as they change over time. she is a qualified planner. RE-ASSESS THE RELATIONSHIP REGULARLY Frequent communication is imperative to a good relationship with your planner. What are your qualifications? Financial planning is a detailed. Whatever your needs.and how a recommendation in one area can affect the others. in fact. continue your search. ethical. comprehensive process. finding the best way to finance a new home.

In some cases. Commissions are usually a percentage of the amount you invest in a product. or who give investment advice. Choose a financial planner who has at least two years experience counseling individuals on their financial needs.2. for example. must be registered with provincial regulatory authorities and may have specialized designations in these areas of expertise. . like lawyers and accountants. the commission is paid by the suppliers of financial products such as an insurance company. How will I pay for your services? Your planner should disclose in writing how she will be paid for the services she will provide. Inquire about what experience the planner has in dealing with people in similar situations to yours and whether he has any specialized training. What services do you offer? The services a financial planner offers will vary and depend on her credentials. insurance and investments. 6. You may want to meet everyone who will be working with you. Some planners prefer to develop detailed financial plans encompassing all of a client's financial goals. Those who sell financial products such as insurance. 4. Ask how long the planner has been in practice. 5. stocks. Others choose to work in specific areas such as taxation. and how his work experience relates to his current practice. 3. Some planners offer financial planning advice on a range of topics but do not sell financial products. estate planning. areas of expertise and the organization for which she works. the number and types of firms with which he has been associated. Will you be the only person working with me? It is quite common for a financial planner to work with others in his organization to develop and implement financial planning recommendations. Planners can be paid in several ways: Commission: The planner is compensated if you purchase financial products to implement a financial planning recommendation. if you buy shares of a publicly traded company. Financial planners often work with other professionals. What experience do you have? Experience is an important consideration in choosing any professional. What is your approach to financial planning? The types of services a financial planner will provide vary from organization to organization. In other cases. Ask whether the individual deals only with clients with specific net worth and income levels. registration. bonds and mutual funds. and whether the planner will help you implement the plan she develops or refer you to others who will do so. you pay the commission. Others may provide advice only in specific areas such as estate planning or taxation.

from suppliers of financial products. such as the Check a CFP Professional tool on this website. such as advertising and promotion subsidies. Can I have it in writing? Ask the planner to provide you with a written agreement that details the services that will be provided. 9. or the percentage he would receive as commission on products you may purchase as part of the financial planning recommendations. or by the suppliers of financial products. Ask the financial planner whether he subscribes to a professional code of ethics such as the Certified Financial Planner Code of Ethics. The planner's employer may get its revenues from fees paid by clients such as yourself or in commissions paid by clients making a purchase. some organizations have a searchable function on their websites. 8.Salary: The company for which the planner works pays the planner a salary. . How much do you typically charge? Although the amount you pay the planner depends on your particular needs. Individuals in the accounting and legal professions are usually members of professional bodies that govern their fields. You can verify the answer by contacting the relevant organization. You should also ask if the planner or organization receives any benefit other than commission. the financial planner should be able to provide you with an estimate of possible costs based on the work to be performed. Could anyone besides me benefit from your recommendations? Ask the planner to provide you with a description of her conflicts of interest in writing. 7. for instance. Such costs would include the planner's hourly rates or flat fees. Fee-for-service: Planners paid on a fee-for-service basis may charge an hourly rate. the body that enforces that CFP Code of Ethics. any business relationship with the companies or ownership interest in any company that supplies financial products sold by the planner and the planner's employer. It¶s a fair question to ask if he has ever been the subject of disciplinary action by any regulatory body or industry association. for future reference. Planners who hold CFP® certification are subject to disciplinary proceedings of Financial Planners Standards Council. In some cases. Keep this document in a secure place. 10. Are you regulated by any organization? Financial planners who sell financial products such as securities and insurance or who provide investment advice are regulated by provincial regulatory authorities and may also subscribe to a code of ethics through a professional association. compensation would be a mix of fee and commission. set a flat rate for a specific service or be paid a fee based on a percentage of assets or income.

house purchase or change of job status. To achieve the best results. For example. an inheritance. such as a birth. many people: y y y y y y y y y Think financial planning is the same as investing Neglect to set measurable financial goals Neglect to evaluate their financial plan periodically Think financial planning is the same as retirement planning Expect unrealistic returns on investments Are looking for a quick financial fix instead of a long term strategy Don't understand that good professional planning advice is largely dependent on good information from clients Believe financial planning is primarily tax planning Think they'll lose control over their decisions if they use a planner Avoid giving in to the fantasies. As a result. . For example. a decision about a child's education may affect when and how you meet your retirement goals. A professional can help guide you on these decisions. an investment decision can have tax consequences harmful to estate plans. The results you get from working with a financial planner are as much your responsibility as the planner's. you need to quantify terms such as "comfortable retirement" or "good education for your children" so that you'll know their real implications. Consider the following facts: Financial planning uses a big-picture approach Each financial decision you make may affect several other areas of your life. Revisit and revise your financial plan to reflect these changes so that you stay on track. marriage.Mistakes and Misconceptions You are the focus of the financial planning process. Re-evaluate your financial situation periodically Financial planning is a dynamic process. Measurable financial goals must be set Set specific targets that will help you achieve what you want when you want it. Many people don¶t really understand the value of financial planning. Your aims may change over the years due to changes in your lifestyle or circumstances. you will need to be informed about what you can realistically expect from the financial planning process.

Start by asking the right questions When working with a financial planner. be sure you understand the process and what the planner should be doing. . inflation or interest rates. Financial planning is a common sense approach to managing your finances to reach your long-term goals. But proper planning that includes a relationship with a financial planner who helps you articulate your goals and then prepares a plan that will help you meet them will greatly increase your chances of being financially prepared to handle both the expected and unexpected. will affect your planning results. And a professional financial planner can help you increase your chances of making that plan a reality. It is a lifelong process. Investing in a financial plan is investing in your future. such as the stock market. Remember. you are in charge It¶s also important that you set realistic expectations. Ask about the recommendations offered to you and play an active role in the decision-making. Remember that factors beyond your control. Provide the planner with all of the relevant information on your financial situation. Achieving your goals is the bottom line Life is hectic. It can't change your situation overnight. Ask how the planner is being compensated. and all too often we get sidetracked from reaching our life goals.

Why become a financial planner? In the recent Quality of Work-Life survey. Where do you begin? Visit the CFP Certification section of this site to learn all about the ³4Es´ that support the CFP certification process: Education. they would choose to become financial planners all over again. Find out what it's really like to be a practicing financial planner from those who are active in the profession right now. and what is required to Maintain Certification. These include: the independent and flexible nature of the position. Currently. financial planners love their jobs. Check out our Job Board. As well. Careers Q&A How do I become a financial planner? The ability to call yourself a financial planner varies from province to province as financial services regulation is under the jurisdiction of provincial governments. check out this video from ALIS explaining what a career in financial planning is all about.Careers in Financial Planning Establishing a solid career in the financial services industry takes planning. And 81 per cent of respondents said that if given the chance. For the most part. CFP® professionals cited a number of reasons for becoming a financial planner. under the direction of the OSC. feel financially secure. Check out our archived Career Q&As and read the Profiles of CFP® Professionals. on top of their career goals and are content with the amount of autonomy and flexibility they have in their work. the desire to work in an industry where it's possible to help people and have a positive effect on their lives. Experience and Ethics. where prospective employers post positions for financial planners who are actively seeking CFP certification. . the only two provinces with any regulation about who can call themselves financial planners are Quebec and British Columbia. Examination. But an initiative of the CSA (Canadian Securities Administrators). is attempting to implement a homogeneous minimum professional requirement for individuals working in all provinces. Can you sum up life as a financial planner? According to our Quality of Work-Life survey. an interest in investing and finance and the opportunity for a potentially substantial income. they feel they are well compensated for the work they do.

Why should I get CFP certification? CFP professionals represent the largest body of professional planners in this country. Approximately 3. Is there a minimum education requirement prior to taking courses in an approved program? The bare minimum requirement is Grade 12. Ethics. . the pass rate of this exam is in the 60 per cent range. How are financial planners paid? Depending on the company and industry sector. And the CFP designation is internationally recognized. commit to abide by the Code of Ethics and acknowledge the right of Financial Planners Standards Council (FPSC) to enforce its Code of Ethics as described in its Disciplinary Rules and Procedures. According to our CFP Stats. If found guilty. The highest incidence of post-secondary education was among the younger planners.000 candidates write the CFP Examination yearly. a percentage of CFP professionals are audited and must provide proof of their continuing education. Historically. When renewing. Once I have CFP certification. more than 70 per cent of CFP professionals hold post-secondary degrees and diplomas. candidates must disclose past or pending litigation proceedings. they must attest to 30 hours of continuing education and agree to abide by the FPSC Code of Ethics.How do I attain CFP certification? CFP candidates must complete an approved education program. Each year. you show your clients your commitment to the financial planning profession. Legal& Regulatory Affairs. You would have to check with the specific registered education provider for more details. When applying for certification. but depending on where you take the program. or any combination thereof. the most severe penalty would be permanent revocation of the CFP licence. The standards CFP professionals meet each year set the financial planning bar at a level that leads the national development of the profession. What happens if I fail to comply with the Code of Ethics? All complaints must be reported in writing and are investigated by FPSC's Director. Our Quality of Work-Life Survey illustrates the percentage breakdown. If the Director determines the complaint has merit.000 CFP professionals in 19 countries worldwide. bonus. commission and fee. There are currently more than 100. complete the FPSC administered Certified Financial Planner (CFP) Examination and meet a work experience requirement. what do I have to do to keep it? CFP professionals must renew their licence on a yearly basis. your compensation can consist of salary. it will be investigated further and a charge will be laid if necessary. By taking the next step and obtaining the credential. other prerequisites may apply.

our Quality of WorkLife survey indicated that 31 per cent of planners under the age of 35 earned in excess of $100. How busy will my work-life be? According to our Quality of Work-Life survey. but take less vacation time. But. It should also be noted that planners can wear many hats and will not always be acting as financial planners. CFP professionals work in all areas of Canada. Ministry of the Attorney General . Most do work in urban areas though with the concentration being in Southern Ontario. CDFA Who is your current employer? Office of the Public Guardian and Trustee. Younger planners tend to work shorter hours than their older counterparts. More and more. 61 per cent of planners work more than 40 hours per week. as do those with higher incomes and wealthier clients. CGA. The level of service must be discussed with the client prior to the engagement. the longer planners have been in business.000. through bonuses. FMA. Those working in the suburbs and rural areas work longer hours. More than 50 per cent of those surveyed take between 3 and 6 weeks of vacation. Those with the most experience served the most clients. the more clients with high net worths they serve and the more they earn. Generally. Alan Goldhar CFP. How many clients can I expect to have? Over half the planners surveyed serve more than 200 clients.How much can I expect to earn as a financial planner? Compensation is in part related to the sector in which planners work and how long they have been in business. to earn CFP certification. paid courses and paid examination fees. They are also instituting policies that encourage existing employees. Will I have to work in an urban area? Geographically speaking. employers are looking specifically for those professionals who have taken the next step and earned the CFP credential. Where do financial planners work? Every sector of the financial services industry employs individuals who are qualified to provide financial planning to clients.

How did you come to work in financial planning? After completing my CGA and CSC courses in the mid 1990's I looked for additional investment/finance courses to take. other financial planners in a professional organization. The training behind. the investment world. By early 1997 I completed all 6 Chartered Financial Planning courses and I made a career change by applying for a newly created Securities Controller position with the Attorney General.How many years have you had the CFP credential? 6 1/2 What was your dream job as a child? As far back as I can remember I have always been interested in. which I did in 2000. it comes with the pressure and risk of the additional fiduciary responsibilities. the CFP designation has provided me with the opportunity to do volunteer work for. In 2003 I was promoted to Chief Investment Officer and I now have a staff of 9 financial planners. I took one course and I knew that this career was for me. I was successful in the competition and started my new job soon after. I also manage our tax unit where we prepare approximately 9. Soon after I saw an advertisement for financial planning courses within the Chartered Financial Planning program and I wanted to find out what this was about. This course added another dimension to my financial planning skills. In May 2007 I completed the Certified Divorce Financial Analyst course and graduated with my CDFA. Why did you earn the CFP credential? I felt that the CFP designation would give me the credibility that my position required. My unit is responsible for the investments of mentally incapable people in Ontario who do not have a Power of Attorney or someone to take on the Guardianship responsibilities. Although my job at the time dealt mainly with client investments. and the credibility of. over the next few years I transferred my position into one with much more of a financial planning focus. and with. . I knew that it would open up other opportunities for me if I decided to change jobs.000 per year. Obtaining the CFP credential has also provided me with the opportunity to teach ( another passion of mine) CFP students at the university level. I received permission to expand my unit and I hired 2 financial planners. The CFP has truly opened up many doors for me. Lastly. When the Chartered Financial Planning designation was merged into the Certified Financial Planner. I have learnt a lot about the development of our profession from the FPSB. What impact has the CFP credential had on your career? It has made a tremendous impact. While the job of improving the lives of mentally incapable people in Ontario is incredibly rewarding. I decided to take the challenge exam in order to obtain my CFP. In addition. and fascinated by. Also. the CFP designation is critical to succeeding in my job and in this career.

Within one week I could deal with every aspect of financial planning (from investment planning to insurance evaluation to tax planning). What is the best part of being a financial planner? Definitely improving people's lives is the most rewarding part of the profession. If you are a "people person" and enjoy discussing financial planning issues with your colleagues and clients then financial planning is definitely the career for you. I deal with a wide variety of cases and issues every day. most people underestimate how much money they will need in retirement and are completely shocked when they receive the actual figures from their financial planner. I also enjoy the dynamic nature of the profession. such as what to invest their money in. urgent cases which are required to be completed on short notice. What is the most challenging part of being a financial planner? I think the biggest challenge is educating the public as to the nature and scope of professional financial planning. It is a very rewarding career. My unit is scheduled to prepare 700-800 financial planning reports in 2007. Also. If you had to do it over. It is never boring and there is always more to learn. The CFP is a very powerful tool that will open up many doors and provide many opportunities to make a difference in people's life. Our profession is just in it's infancy years and we need everyone who enters the profession to be it's ambassadors. Share your knowledge and your ideas with your colleagues and get involved in your community by volunteering in a financial planning capacity. For someone breaking into the financial planning industry what words of wisdom would you share? I would tell that person that the financial planning industry is growing. Some cases (such as those from our legal unit) are rush. But every case is unique and important to us. both from a personal growth standpoint and a financial standpoint. Most people see it as unidimentional. or how much money they need to retire. there is the challenge of bringing people's expectations into line with reality. Lastly. . dynamic one and that it can be a very rewarding profession. For example.What does a typical work day look like for you? There really isn't a typical day for me. It's incredible how much financial planning theory I apply at work every week. With proper financial planning we can dramatically improve the quality of life for our clients. On-going communication is also a big past of being a financial planner. most people miss the point that financial planning is an on-going process-it's not a one-time review. would you have selected a career as a financial planner? Absolutely. Other cases take a long period of time to negotiate and implement.

J. What is the best part of being a financial planner? There isn¶t one best part for me. study and marketing can all be done or only one of those functions in a day. What is the most challenging part of being a financial planner? . BBA. 1999 ( 8 ½ years) What was your dream job as a child? Play by Play announcer for the Montreal Canadiens How did you come to work in financial planning? I was a client of an old university classmate who was doing financial planning/ invesyting and he recruited me. How many years have you had the CFP credential? CFP since April 1. I consider my role as being consultant to my clients. Certainly helping clients reach their goals is important but from a personal standpoint. helping them reach their goals as opposed to being a product sales person. What impact has the CFP credential had on your career? A great deal. investment management. Richard Johnson. What does a typical work day look like for you? It can be multifaceted. my job offers a tremendous amount of flexibility and an enjoyable lifestyle. client an independent commissioned insurance agent ± life & health. Planning. CFP Who is your current employer? Beacon Securities Ltd as an employee and ARC Financial Group Ltd. I had been working in an HR function and not happy with my career direction or compensation. it helped focus my practice even more. Why did you earn the CFP credential? The CFP designation represents the ultimate designation for a financial planning professional. Usually it is a combination of a few of these.

in what type of organization you would best fit. motivational speaker ZigZiglar I believe. Understand how it may impact on your future career choices. It can be very rewarding as well though«. There are many options for a person breaking into financial planning as a profession. you may be asked to sign a contract when you commence employment with a firm. What was your dream job as a child? Superhero? ± but there are very few openings for that these days.Dealing with the emotional issues that can take place in bad financial markets and the sickness or death that invariably is a involved in dealing with clients. have a thirst for learning and enjoy people. that if you help enough other people get what they want then you¶ll get what you want.helping people get their affairs in order in co-operation with their other professional advisors so things run smoothly. I remember hearing a gentleman say one time. It wasn¶t Finance. Also. I¶ve worked for very large firms and small ones and a small one fits my personal style & personality better. The reward is in the satisfaction received by helping someone reach their goal(s) is very worthwhile. How did you come to work in financial planning? . For someone breaking into the financial planning industry what words of wisdom would you share? Get a good broad education. but dreams change. Also. CFP Who is your current employer? Investors Group Financial Services What is your current position? Division Director How many years have you had the CFP credential? Nine. try to determine early on. Read it carefully and speak to a professional familiar with contract law before you sign anything. If you had to do it over. get good training. would you have selected a career as a financial planner? Yes. Mark Leslie.

Brigus Group How many years have you had the CFP credential? 8 (Received CFP in 1999) What was your dream job as a child? Telephone operator.I completed a degree in Economics. 20% administration and 30% in my role as a Director. Who is your current employer? Partner. now it is a standard. What is the best part of being a financial planner? Having a positive and material impact on people¶s lives. What does a typical work day look like for you? 50% planning and servicing clients. . and a friend got me a job at the Bank of Nova Scotia. National Film Board documentary director How did you come to work in financial planning? I was asked to develop a financial planning course that would be a combination life skills course and introduction to small business financial planning. For someone breaking into the financial planning industry what words of wisdom would you share? You don¶t have to love numbers as much as you should love people. Why did you earn the CFP credential? Originally for me it was a measure of credibility. The regulation is the biggest take away. architect. What is the most challenging part of being a financial planner? I enjoy the challenge of keep up with a changing environment. airline hostess. engineer. What impact has the CFP credential had on your career? Very positive ± prospective clients know to look for the designation these days.

What impact has the CFP credential had on your career? The credential does bring credibility. I try to keep up with what is happening in the industry through daily reading of industry publications and I take Continuing Education courses every year. If you had to do it over.Why did you earn the CFP credential? While I was refining the financial planning course. in helping others and in developing courses. What is the best part of being a financial planner? I really enjoy budgeting and cash flow management. analytical types like to analyze trends. Then I realized that I could write challenge exams in a couple of courses and before long it seemed to make sense to finish the program. "Knowing your stuff' always makes the job easier and brings credibility. What is the most challenging part of being a financial planner? I enjoy using the knowledge gained from financial planning education. . other people enjoy planning a support role and finally. I draw upon my core knowledge of financial planning frequently in responding or commenting on what a client requests. It indicates that I have acquired a core body of knowledge. I use those skills for business. would you have selected a career as a financial planner? I have always enjoyed playing with numbers. but I don't think I would enjoy working as a commissioned financial planner. developing and teaching financial planning or securities related courses. I wanted to be more informed about insurance and tax planning and the CFP program had courses in both. some people are attracted to the people side and enjoy selling financial planning services. What does a typical work day look like for you? I have never been a practising financial planner and have always been involved in designing. personally. For someone breaking into the financial planning industry what words of wisdom would you share? Pursue the role in the industry that will make you happy. People in the education and training side of financial planning like to share knowledge and aren't usually attracted to the practice of financial planning. so I think finance would always be an integral part of whatever I did.

CGA. What was your dream job as a child? Like most boys growing up in Canada. I inherited this same attitude and felt that the most effective way of providing comprehensive tax and financial planning advice was to become a CFP professional along with becoming a Certified General Accountant. He became ill shortly after I graduated university and I took over his practice from that point on. my dream job was to become a professional hockey player. . What impact has the CFP credential had on your career? The CFP credential has allowed me to focus my career on doing what I enjoy . CFP Who is your current employer? Cogent Business Consulting What is your position? Partner.Regan Exner. Why did you earn the CFP credential? I felt that the CFP credential was necessary for me to be able to offer my clients a level of service that I could be proud of. Fairly early on I realized that wasn¶t going to happen so I would say my realistic dream job was to become a lawyer. How did you come to work in financial planning? My father owned an accounting practice and I worked there throughout high school and university. How many years have you had the CFP credential? Four. It changes the dynamic of my fees from more of a cost of compliance to an financial planning advice to a wide variety of individuals and businesses. but instead to provide them with sound tax and financial planning advice that would benefit them and their families for years to come. My father¶s passion was not preparing financial statements and tax returns that his clients were obligated to file. The ability to offer well-rounded financial planning advice in addition to accounting services and tax consulting is the added value that I provide to my clients.

you and your advice will become obsolete.Describe any previous roles / experiences that played a part in getting you where you are today? As I explained earlier. Tracy Piercy. the greatest challenge is staying on top of constantly changing tax laws. on the phone or through email. How many years have you had the CFP credential? Three What was your dream job as a child? . Dealing with a diverse group of clients with a wide variety of financial situations makes it a challenging and rewarding career to try and offer distinctive financial planning advice to each of them. What is the most challenging part of being a financial planner? For me. tax returns and financial plans and interacting with my clients and our office staff. insurance and investment products. and so on. CFP Who is your current employer? Own Company: MoneyMinding Inc. Do you have any ³words of wisdom´ for people considering a career in financial planning? My advice would be to always be learning. My time is fairly evenly split between reviewing and working on financial statements. What is the best part of being a financial planner? I would have to say the best part about being a CFP professional is how interesting each day is. Be it in person. Describe your typical work day. The financial planning industry is constantly evolving and if you don¶t make continuing professional development a priority. I spend a considerable amount of time giving advice and discussing my clients¶ personal and business financial affairs with them. financial planning concepts. accounting principles. ³apprenticing´ under my father¶s guidance paved the way for where I am today.

For someone breaking into the financial planning industry what words of wisdom would you share? Systemetize your business from the beginning and follow your own advice. . What is the most challenging part of being a financial planner? People who are stuck in a rut and have so much potential but would rather complain than change.Teacher How did you come to work in financial planning? Personal challenges got me interested. What is the best part of being a financial planner? Getting the "aha" for the client. What impact has the CFP credential had on your career? Recognition as a professional. What does a typical work day look like for you? In the office. If you had to do it over. Why did you earn the CFP credential? I had already been teaching and wanted the recognition. writing and talking with clients. on the phone. would you have selected a career as a financial planner? Yes.

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