Financial Planners Standards Council

Financial Planners Standards Council

October 05, 2009 13:15 ET

FPSC Launches Financial Planning Week

Declares "Vision 2020" and a Call to Action to All Stakeholders to Make Financial Planning More a Part of Canadian Lives

TORONTO, ONTARIO--(Marketwire - Oct. 5, 2009) - Financial Planners Standards Council (FPSC) marked the start of Canada's first Financial Planning Week this morning at a launch event, Vision 2020, where key stakeholders are gathered to discuss how to advance efforts to make financial planning more a part of Canadian lives. The line-up of speakers are addressing a myriad of issues relevant to financial planning in Canada. Concurrently, Financial Planning Week is being spearheaded in Quebec by Institut quebecois de planification financiere (IQPF) and in the U.S by Financial Planning Association (FPA).

In the welcome address, Cary List, President and CEO of FPSC, outlined the Council's "Vision 2020" - setting sights on a 10-year collaborative effort among all who have a stake in the financial and social wellbeing of Canadians to bring more financial planning into Canadian society.

Here are some excerpts of the speech, with full text available at

"While financial planning is part of everyday life for FSPC and for those involved in the profession, for far too many Canadians there are too many days, years or even lives spent without any financial planning at all. The impact of this void has hit Canadians hard - this year more acutely than ever.

Too many Canadians are losing ground without a sound financial plan. Too many are winging it and making bad investment decisions. Too many are financially ill-prepared, and without a place to turn for competent, ethical financial guidance. And for those that do seek guidance, far too many don't know how to wade through the muddy waters of financial advice, financial advisors or financial planners, and have no idea what questions they should be asking or what sort of advice they should be looking for.

It's not hard to conclude that this bodes poorly for the future financial wellbeing of Canadians and for Canadian society as a whole.

But we have a vision for how it could be different."

List acknowledged Vision 2020 as the heart of Canada's inaugural Financial Planning Week.

"Vision 2020 asks us to imagine a Canada in the year 2020 that is shaped by people, organizations and governments that value financial planning and its role in the betterment of people's lives; that shares responsibility for ensuring the financial planning needs of Canadians are well served; and that recognizes a viable, trusted and respected financial planning profession that provides competent, ethical financial planners for all Canadians in need of professional financial planning advice.

Imagine if by the year 2020 Canada were seen as a model for a country that advanced a movement where financial planning values permeate throughout society. What difference could that a future make to Canadians' lives and to Canadian society as a whole?"

List identified several desired outcomes as a result of a concerted effort towards Vision 2020, including:

- every high school graduate has experienced some introductory financial planning curriculum by the time they graduate, and thus is able to make better-informed decisions about their finances, ultimately putting them on the path to a better financial future in later years;

- there is a regulatory environment that restricts who can call themselves financial planners to those who are qualified through a recognized professional designation that has enforceable standards of ethics, practice and competence and that requires ongoing professional development for its members;

- industry responsibly promotes financial planning and clearly distinguishes and values financial planning as more than just product advice;

- Canadians understand the distinction between investment product advice and financial planning, and recognize the value and appropriate place for each;

- there are a sufficient number of duly licensed, competent and ethical financial planners across Canada who can be counted on by all Canadians seeking professional advice to help guide them towards their life goals;

"Financial Planning Week is FPSC's effort to ignite a conversation that leads to greater empowerment, greater collaboration and meaningful action that inspires people to make financial planning more a part of all Canadians' lives.....No one single group or individual can be singled out nor left out. We are calling on industry, regulators, governments, educators, media, employers - and all Canadians - to work together and enact the change that is needed to advance the financial wellbeing of Canadians."

The full speech can be seen at

Follow Vision 2020 on Twitter: @FPVision2020

Financial Planning Week Activities

CFP(R) professionals are giving Financial Planning Health Checkups in communities across Canada. See for a listing of these events, story ideas and additional resources and information.

About Financial Planners Standards Council

Financial Planners Standards Council (FPSC) is a not-for-profit organization dedicated to ensuring Canadians' financial planning needs are well served by developing, promoting and enforcing professional standards for financial planning, through CFP(R) certification, and raising awareness of the importance of financial planning to Canadians. FPSC licenses the CERTIFIED FINANCIAL PLANNER(R) marks in Canada. There are currently more than 17,500 CFP professionals in Canada and more than 120,000 individuals who have earned CFP certification in 22 countries around the world. These individuals are licensed to use the registered marks: CFP(R), CERTIFIED FINANCIAL PLANNER(R) and CFP (with flame logo)(R). See for more.

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. Financial Planners Standards Council is the marks licensing authority for the CFP Marks in Canada, through agreement with FPSB.

Contact Information

    CONTACT: Chadnick Communications (for FPSC)
    Eileen Chadnick
    Heather Mills
    416.593.8587 x 235