Financial Planners Standards Council

Financial Planners Standards Council

January 22, 2008 08:02 ET

Media Advisory: Economic Woes in U.S. Concerning Canadians?

Financial Planners Standards Council Encourages Canadians to Seek Professional Financial Advice

TORONTO, ONTARIO--(Marketwire - Jan. 22, 2008) - Many Canadians wonder about the potential impact of global economic forces on their financial situations. How will their investments fare? What is the impact on housing costs and mortgage decisions? What about their job prospects?

Got questions? Financial Planners Standards Council (FPSC) encourages Canadians to seek the advice of a Certified Financial Planner(R) professional to make sure they get the right answers for their own personal financial situation.

Ann Bowman, FPSC Vice President, Communications & Corporate Relations says, "At times like this, speculation and 'water cooler talk' can tempt people into making rash decisions based on emotion or informal comments. A better approach is to seek the advice of a qualified financial adviser, such as a financial planner who holds CFP certification. CFP professionals are qualified to help people navigate the complexities of economic changes. They can ensure that each financial decision makes sense in the context of the short and long term financial and life goals of their clients."

There are more than 17,000 individuals who have earned CFP certification in Canada and, therefore, are expert resources for sound financial planning advice. Here are the thoughts of a few of these qualified professionals:

- CFP professional Peter Andreana from Burlington says: "While it is always recommended to schedule regular reviews of one's financial plan, a significant life change or shift in the economy should prompt a review as well. Anyone concerned about their financial situation in light of recent economic changes would do well to contact a CFP professional to review their own personal financial situation."

- CFP professional Laurie Stephenson from Halifax says: "Part of financial planning is asking and preparing for those important 'what if' questions. A CFP professional will help people make investment and other financial planning decisions that will help them meet their goals and ensure they are prepared when unforeseen situations arise."

- CFP professional MaryAnn Kokan-Nyhof from Winnipeg says: "Never make decisions solely on emotional reactions or word of mouth speculation. That could make things worse. Check with a financial planner for sound advice that considers your particular situation."

- CFP professional Trisha MacLennan from Vancouver says: "Now is a good time to engage the help of a professional financial planner. A solid financial plan let's you sleep at night. Despite the volatility in the markets, you'll know you're on track to meeting your life goals."

To start the conversation with a CFP professional FPSC offers these resources:

If you are not sure what to ask them: see here for questions to ask a financial planner. Not sure where to look to find a CFP professional in your region then see here to Find a CFP professional. Want to learn more about financial planning then see here for Learning Centre.

FPSC is a not-for-profit organization established in 1995 to lead the development of the financial planning profession. FPSC develops and enforces the highest standards in financial planning competency and ethics for individuals who are licensed to use the certification marks: CFP(R), CERTIFIED FINANCIAL PLANNER(R) and CFP (with flame logo)(R) in Canada. There are currently more than 17,000 CFP professionals in Canada and more than 100,000 individuals who have earned CFP certification in 20 countries around the world. See www.fpsccanada.org for more information.

NOTE TO EDITORS

For further information on FPSC and the CFP designation, please visit our online media kit.

On a tight deadline and not able to connect with the contacts above? FPSC also offers "Ask an Expert" for media looking for experts to comment on their stories.

CFP(R), CERTIFIED FINANCIAL PLANNER(R) and CFP (with flame logo)(R) are trademarks owned outside the U.S. by Financial Planning Standards Board Ltd. (FPSB). Financial Planners Standards Council is the marks licensing authority for the CFP marks in Canada, through agreement with FPSB.

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