Financial Planners Standards Council

Financial Planners Standards Council

October 20, 2008 09:01 ET

Now is the Time for Advice and Planning — not Panic

CFP Professionals Available to Comment and Answer Questions

Attention: Assignment Editor, Business/Financial Editor, Lifestyle Editor, Media Editor, News Editor TORONTO, ONTARIO, MEDIA ADVISORY--(Marketwire - Oct. 20, 2008) - The market volatility associated with the U.S. and international market influences underscores more than ever the value of competent and ethical financial planning advice for Canadians concerned about their financial well-being.

"This is the time for sage advice and planning - not panic," says Cary List, president and CEO of Financial Planners Standards Council (FPSC). "Now more than ever, Canadians should seek the counsel of professional financial planners, such as CFP® professionals, to help with the myriad of financial decisions related to both short and longer-term financial well-being," says List.

From wildly fluctuating commodity prices to the recent turmoil associated with the U.S. mortgage crisis, this past year has seen these and other factors contribute to unprecedented volatility in the financial markets - leaving many Canadians worrying about their personal financial affairs. In addition to retirement planning, the average Canadian is dealing with concerns related to paying and/or renewing their mortgage, the overall cost of living, saving for and paying for education, the prospect of job uncertainty - and a host of other concerns.

"People need good advice and a trusted source to help navigate the complexity associated with both the ever-changing economic climate and people's ever-changing needs, not just in the weeks ahead but throughout their entire lifetime, as goals, priorities and circumstances evolve over time" says List.

While the economic news continues to unfold, creating a landscape of uncertainty, a Statscan study reinforced that those closer to retirement who have received professional advice tend to be more confident in their long term financial outlook.

However, even with current volatility and those dealing with shorter-term concerns, many CFP professionals advise that if clients have a written plan and a trusted relationship with a qualified financial planner, they will have a much better context for each decision to be made. With a clear picture of a client's financial goals and priorities, a CFP professional will work to ensure each decision is tailored for that individual's unique circumstances.

It's equally important to remember that investing is only one part of the equation. A CFP professional can provide guidance on how best to manage debt and minimize risk so clients can meet their obligations should bumps in the road continue to occur.

CFP professionals are trained to keep abreast of the issues and to assess how ongoing developments impact their clients' financial affairs, from retirement planning and asset management, to tax and estate planning, debt management, risk management - and much more.

Do your readers and audience need some perspective?

FPSC can put you in touch with CFP professionals who can offer insight and perspective on how the current economic landscape impacts Canadians and their financial affairs. They can talk about these and other topics:

- What Canadians can do to protect their financial well-being amidst the current volatility
- Advice on navigating:
- How to best manage your savings and other assets, both in the short and longer term
- Managing debt for today and the uncertain future
- Mortgage decisions whether buying, renewing or just trying to meet current obligations
- Risk management - what about 'if I lose my job' or become ill or other "what if" scenarios
- And much more . . .

FPSC executives are also available to talk about:

- The value of financial planning - not just in the good times but particularly in the challenging times like today
- What Canadians should look for when seeking qualified financial planning professionals and how to source a qualified financial planner - what questions to ask; what to expect; etc.
- More . . .

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About Financial Planners Standards Council

Financial Planners Standards Council (FPSC) is a not-for-profit organization established in 1995 to lead the development of the financial planning profession. FPSC develops and enforces the most rigorous standards in financial planning competence and ethics for individuals who hold CERTIFIED FINANCIAL PLANNER® certification in Canada. These individuals are licensed by FPSC to use the registered marks: CFP®, CERTIFIED FINANCIAL PLANNER® and CFP (with flame logo)®. There are currently more than 17,000 CFP professionals in Canada and more than 110,000 individuals who have earned CFP certification in 20 countries around the world.

See for more information.
/For further information: Additional contact:
Angela Rea/Chadnick Communications at 905.304.0923 or;
Heather Mills/FPSC at 416.593.8587 x 235 or

Contact Information

  • Eileen Chadnick, Chadnick Communications for FPSC
    Primary Phone: 416-631-7437