definitions, standards & competencies

canadian financial planning

c a n a d i a n
financial
p l a n n i n g

d e f i n i t i o n s,
compétences standards &
n o r m e s e t competencies
définitions,

au canada : la planification financière au canada

financière
définitions, normes et compétences

la planification
Canadian Financial Planning
Definitions, Standards & Competencies
 ISBN 978-1-926690-08-7
(Financial Planning Standards Council)
ISBN 978-2-922174-30-4
(Institut québécois de planification financière)

Legal Deposit - Library and Archives Canada, 2015.

Legal Deposit - Bibliothèque et Archives nationales du Québec, 2015.

Copyright © 2015 Financial Planning Standards Council. All rights reserved.

2 © Institut québécois de planification financière, 2015
c a n a d i a n
fi na ncial
p l a n n i n g

d e f i n i t i o n s,
standards &
competencies
4
 Table of Contents

6 Introduction

12 Definitions
12 Financial Planning
12 Financial Planner
13 Financial Plan

14 Code of Ethics and Financial Planning

Practice Standards

16 Code of Ethics
16 Preface
17 Application of the Code
19 The Principles of the Code

20 Financial Planning Practice Standards

21 Preface
22 Application of the Practice Standards
23 The Practice Standards

26 Competency Framework
27 Preface
29 Financial Planning Functions
30 Financial Planning Areas
33 Fundamental Financial Planning Practices
35 Professional Skills
37 Technical Knowledge

38 About FPSC & IQPF

40 Acknowledgements
Introduction

6
The Financial Planning Standards Council
(FPSC) and the Institut québécois de
planification financière (IQPF), the two
organizations that establish and maintain
the standards for the financial planning
profession in Canada, have joined forces
in creating a unified set of definitions,
standards and competencies for individuals
holding the F.Pl. and Certified Financial
Planner®/ CFP® designations. Individuals
possessing these two designations represent
financial planners who must adhere to the
highest standards of competence, ethical
behaviour and professionalism in Canada.

Until now, there was no unified source for

clarity on financial planning definitions and
professional financial planning standards.
FPSC and IQPF now provide The Canadian
Financial Planning Definitions, Standards &
Competencies as the definitive source for
what to expect of financial planners across
the country. Through association with
the Financial Planning Standards Board,
representing over 150,000 financial planners
worldwide, the Canadian standards for
financial planning are consistent with the
highest professional standards in financial
planning internationally.

7
Definitions Considerable industry consultation went into
the formation of a single set of definitions that
solidify what constitutes “financial planning”,
what constitutes a “financial planner” and what
constitutes a “financial plan”.

Financial planning varies in scope and

complexity ranging from planning advice that is
straightforward and narrow, requiring limited
integration across financial planning areas
to those engagements that are complex and
involved, requiring extensive integration across
financial planning areas. In all cases, however, it
is the financial planner’s ability to competently
and professionally gain a full picture of the
individual’s goals, needs and priorities, and the
interdependencies among them that provides
the greatest value to clients.

By definition, a financial planner is an

individual capable of providing financial
planning advice at the highest level of
complexity required by the profession. As a
professional, a financial planner holds himself
accountable to professional oversight.

8
 A financial plan is a written report that
assesses an individual’s current financial
situation and includes the relevant personal
and financial assumptions, information
analysis, evaluation of financial strategies
and recommendations to assist in achieving
an individual’s personal goals, needs and
priorities. While financial planning may or
may not result in a full blown financial plan,
it’s clear1 that all Canadians can benefit from
the professional advice of a financial planner.

Standards In addition to providing a single set of

financial planning definitions, FPSC and
IQPF have produced unified standards
of ethics, practice and competence for all
financial planners. These standards set out the
principles of ethical behaviour that financial
planners are expected to follow and the
process of financial planning that financial
planners are expected to adhere to.

The Competency Framework serves as the

guiding construct for the detailed knowledge,
skills and abilities expected of financial
planners as outlined in the respective
competency profiles provided by FPSC and
IQPF. It illustrates the central nature of the

1
2013 Financial Planning Standards Council and
Financial Planning Foundation: Value of Financial Planning;
http://www.fpsc.ca/value-financial-planning

9
Fundamental Financial Planning Practices. These
are the competencies that apply to all financial
planning areas and relate to the integration and
interrelationships among them. The Framework
also highlights the requirement for professional
judgment, reasoning, interpersonal and
communication skills in the fulfillment of all
elements of competency. These professional skills
represent fundamental abilities that characterize
a true financial planner.

This document serves several distinct

audiences – financial planners, candidates for
certification, educators, employers and the
Canadian public – by providing clarity around
what to expect of financial planners and by
providing an appreciation for the rigorous
standards and expectations of those who meet
the definition of a financial planner.

We would like to extend our gratitude to

the diverse group of financial planners, from
coast to coast, who gave of their time and
expertise in the refinement of these unified
Canadian benchmarks in financial planning.
We would also like to express our appreciation
to the many firms that were consulted, across
multiple financial sectors, in the development
of the definitions, standards and competency
requirements outlined in this document.

For more information on FPSC and IQPF, visit

www.fpsc.ca and www.iqpf.org.

10
The Financial Planning Standards
Council (FPSC) and the Institut
québécois de planification financière
(IQPF) are the two organizations
that establish and maintain the
standards for the financial planning
profession in Canada.

11
 Definitions

Financial Financial planning is a disciplined, multi-step

Planning process of assessing an individual’s current
financial and personal circumstances against his
future desired state and developing strategies
that help meet his personal goals, needs and
priorities in a way that aims to optimize the
allocation of his resources. Financial planning
takes into account the interrelationships among
relevant financial planning areas in formulating
appropriate strategies. Financial planning areas
include financial management, insurance and risk
management, investment planning, retirement
planning, tax planning, estate planning and legal
aspects. Financial planning is an ongoing process
involving regular monitoring of an individual’s
progress toward meeting his personal goals,
needs and priorities, a re-evaluation of financial
strategies in place and recommended revisions,
where necessary.

Financial A financial planner is an individual who possesses

Planner the requisite knowledge, skills, abilities and
professional judgment to capably provide
objective financial planning advice at the highest
level of complexity required by the profession.
He must agree to be accountable to a professional
oversight organization’s practice standards and
code of ethics that include an obligation to put
his clients’ interests before his own.

12
Financial A financial plan is a written report that
Plan addresses an individual’s personal goals,
needs and priorities. It takes into account
relevant financial planning areas and the
interrelationships among them. The financial
planning areas include financial management,
insurance and risk management, investment
planning, retirement planning, tax planning,
estate planning and legal aspects.

Each section of the financial plan covers the

individual’s current financial situation, the
analysis performed to identify issues and
opportunities, the evaluation of relevant
financial strategies and recommendations
to help meet the individual’s personal goals,
needs and priorities.

A plan includes the personal information and

financial assumptions on which it is based. It
also includes a disclaimer noting its reliance
on information provided by the individual and
assumptions made. A plan provides a list of
action steps, including what needs to be done,
by whom and when.

13
Code of
Ethics and
Financial
Planning
Practice
Standards
14
FPSC and IQPF have agreed to a common
set of principles and practice standards to
which individuals holding the F.Pl. and CFP®
designations must abide. They define the ethical
and performance standards which clients should
expect from a professional relationship.

The Code of Ethics outlines the principles of

ethical conduct that form the foundation of any
profession and is the moral mandate that
all stakeholders can use to assess the conduct
of professionals.

The Financial Planning Practice Standards

provide the process of financial planning that
must be followed in any client engagement
where financial planning services are offered.

Throughout the Code of Ethics and Financial

Planning Practice Standards, whenever
“financial planner” is referred to, it should
be taken to read financial planner (i.e. F.Pl.
and CFP® professional) and FPSC Level 1™
Certificant in Financial Planning.

15
 Code of Ethics

Preface The Code of Ethics (the Code) represents

the moral mandate that governs the conduct
of financial planners. It sets out eight
ethical principles that govern their conduct
in all professional activities, and reflects
the standards of ethical conduct that such
professionals must demand of themselves
and their peers. Upholding these ethical
standards provides the public with the
necessary guarantees concerning the quality of
the professional services offered by financial
planners in Canada.

The Code of Ethics represents

the moral mandate that governs
the conduct of financial planners.

16
Application Each principle of the Code presents the
of the Code expected behaviours of financial planners. The
Code is designed to guide professionals in their
practice but does not undertake to define the
standards of professional conduct of financial
planners for the purposes of civil liability.
The Code represents the commitment of the
financial planner to the public, the industry and
the profession.

For the Public

A strong Code is first and foremost about
serving the public. It is the financial planner’s
pledge to clients. As a client, you should view
the Code as setting your expectations for how
you will be treated by your financial planner.
The Code should assure you that you are
working with a professional who is committed
to ethically, competently and diligently helping
you achieve your life goals.

17
 For the Financial Services Industry
The F.Pl. and CFP designations allow the
financial services industry to easily identify
a professional with a documented mastery of
financial planning skills, direct experience to
draw upon and a commitment to ethical practice.

For Financial Planners

The Code provides the cornerstone by which
financial planners practice their profession.
As a professional, you should expect adherence
to the Code from yourself and your financial
planner colleagues. The integrity and future of
the financial planning profession rests on the
universal adherence to these principles.

The Code provides the

cornerstone by which financial
planners practice their profession.

18
The principle 1: client first
Principles A financial planner shall always place
of the Code the client’s interests first.

principle 2: integrity
A financial planner shall always
act with integrity.

principle 3: objectivity
A financial planner shall be objective when
providing advice or services to clients.

principle 4: competence
A financial planner shall develop and
maintain the abilities, skills and knowledge
necessary to competently provide advice
or services to clients.

principle 5: fairness
A financial planner shall be fair and open in
all professional relationships.

principle 6: confidentiality
A financial planner shall maintain
confidentiality of all client information.

principle 7: diligence
A financial planner shall act diligently when
providing advice or services to clients.

principle 8: professionalism
A financial planner shall act in a manner that
reflects positively upon the profession.

19
20
 Financial Planning
Practice Standards
Preface The Financial Planning Practice Standards
(the Practice Standards) provide guidance to
financial planners when engaged in financial
planning activities with clients.

Outlining these Practice Standards:

~ establishes the level of practice expected

of financial planners who are engaged in
the delivery of financial planning services to
a client;

~ establishes norms of professional practice

to promote a consistent delivery of financial
planning services by financial planners;

~ clarifies the respective roles and

responsibilities of financial planners and their
clients in financial planning engagements,
protecting both parties from possible
misunderstandings; and

~ serves the national public interest by

defining a level of service that protects the
interests of clients.

21 21
Application The Practice Standards outline the process to
of the be followed in any client engagement where
Practice financial planning services are being offered,
not just when delivering a comprehensive
Standards
financial plan.

In the unlikely event that a practice standard

is in conflict with a legal obligation, the
financial planner is expected to adhere to the
legal obligation. Where a practice standard is
in conflict with an employer’s expectation,
the professional remains bound by the
Practice Standards and may choose to seek
guidance from their employer regarding
irreconcilable conflicts of interest.

The Practice Standards outline

the process to be followed in any
client engagement where financial
planning services are being offered.

22
The Practice Explain the Role of the Financial
Standards Planner and Value of the Financial
Planning Process
Ensure the client understands the role of a
financial planner and the value of the process
of financial planning in identifying and
meeting the client’s personal goals, needs
and priorities.

Define the Terms of the Engagement

Work with the client to define and agree on the
scope of the financial planning engagement,
whether an initial or review engagement.

Identify the Client’s Goals,

Needs and Priorities
Discuss the client’s personal goals, needs
and priorities before identifying possible
strategies or making recommendations.

Gather the Client’s Information

Gather sufficient quantitative and qualitative
information relative to the engagement
before identifying possible strategies or
making recommendations.

23
The Practice Assess the Client’s Current Situation
Standards Identify and evaluate the strengths and
weaknesses in the client’s financial situation,
perform required calculations, develop
needed projections, and analyze and integrate
the resulting information relative to the
client’s personal goals, needs and priorities.

Identify and Evaluate Appropriate

Financial Planning Strategies
Identify and assess the possible financial
planning strategies to achieve the client’s
personal goals, needs and priorities.

Develop the Financial

Planning Recommendations
Develop and prioritize recommendations
to help meet the client’s personal goals,
needs and priorities and aim to optimize his
financial position.

Compile and Present the Financial

Planning Recommendations and
Supporting Rationale
Present the financial planning
recommendations and supporting rationale
in a way that allows the client to make an
informed decision.

24
The Practice Discuss Implementation Actions,
Standards Responsibilities and Time Frames
Gain the client’s agreement regarding
imple­mentation actions, responsibilities
and time frames. Stress the importance of a
review and ongoing monitoring of the client’s
situation relative to his personal goals, needs
and priorities periodically and as needed
based on material changes in personal or
external circumstances.

Implement the Financial

Planning Recommendations
Complete the implementation actions for
which the financial planner has assumed
responsibility.

25
Competency
Framework

26
Preface The Competency Framework for financial
planners (the Framework) is the foundation for
the Competency Profile for CFP professionals
and individuals holding the F.Pl. designation.

It provides the structure and serves as the

guiding construct for the detailed knowledge,
skills and abilities expected of financial planners.
It illustrates the interrelationships among
the fundamental financial planning practices,
financial planning areas, professional skills and
technical knowledge that are inherent in the
profession of financial planning.

The Competency Framework

serves as the guiding construct for
the knowledge, skills and abilities
expected of Financial Planners.

27
 o l l e c t i on
l
s c tive Co l le
pr
o

fe
tit a
il

c
i n fo t qua

ss
uanation
sk

q r m lita

io
t m ati ti
lec or on ve
al

ol inf

na
C
i on

ls
kil
ess

Financial
management
recommen
p r of

ls
Estate Insurance
fi

planning and and risk

clie nt s
areas
n

Assess the
legal aspects management
a

Fundamental
n

itua tion
Financial Planning
c ial

Practices
De v e l o p m i z e t
help opt

Tax Investment

s
Planning planning
i

ysi
reco he c
m m lie

Retirement
Planning
e n nt
da s

al
itu ns t
ti

at o plan ning
da

ion
a n d ies
ti tify teg
n
on
Id e n e stra
e valua
t
a
p r of
e s s i o na l s k i l l s
tec
ed ge
h n ica
l k n owl

The Competency Framework

illustrates the central nature of
the fundamental financial
planning practices.
28
Financial Underlying the professional practice of financial
Planning planning are three basic functions defined below.
Functions
1 collection
Gathers the client’s information
Collection refers to the gathering of both
quantitative and qualitative information,
the identification of relevant facts and
documentation, and the preparation and
organization of information in a way that
allows for appropriate analysis.

11 analysis
Assesses the client’s current situation and identifies
and evaluates appropriate strategies
Analysis competencies encompass identifying
issues and opportunities, performing
required calculations, developing projections,
and preparing and assessing the resulting
information in order to identify and evaluate
appropriate strategies.

111 recommendation
Develops recommendations to help
optimize the client’s situation
Recommendation competencies focus on
the development of recommendations that
help meet the client’s personal goals, needs
and priorities and strive to optimize the
client’s situation.

29
 Although there is often a logical sequence to
these functions (first collect data, then analyze
the data and evaluate strategies and finally
make appropriate recommendations), in
practice, the financial planner will move back
and forth between functions during any client
engagement. For example, certain analysis may
point to the need for more data collection.

Financial Within each financial planning function of

Planning Collection, Analysis and Recommendation,
Areas elements of competency are assigned to one of
the following areas – Financial Management,
Insurance and Risk Management, Investment
Planning, Retirement Planning, Tax Planning,
Estate Planning and Legal Aspects.

The financial planning areas are defined below.

Financial Management
Financial management focuses on the client’s
current and future financial position. The
client’s financial position is characterized by his
net worth, cash flow and budget. A net worth
statement reflects the client’s financial position
at a point in time. Information regarding income
and cost of living allows the financial planner to
anticipate future net worth based on the client’s
inclination to save, spend and borrow.

30
Insurance and Risk Management
Insurance and risk management focuses on
strategies designed to manage the client’s
exposure to an unexpected financial loss due to
death, health issues, property damage, business
and other risks. The financial planner compares
the client’s risk exposure to the level of available
assets and insurance coverage in place to assess
gaps and prioritize risk management needs.

Investment Planning
Investment planning focuses on how to best
manage the client’s investment assets based on
his past experience, attitudes, objectives, time
horizon, risk tolerance and need for income.
It involves consideration of the client’s current
investment holdings, including not only cash,
bonds and stocks, but also land and other real
estate holdings.

Retirement Planning
Retirement planning focuses on the client’s
financial well-being after employment
has stopped. It involves a comparison of the
client’s desired lifestyle in retirement to their
current retirement assets, planned savings,
expected sources of retirement income, such
as government and employer benefits, and
return on investment to help ensure adequate
retirement income over his lifetime. Retirement
savings must be carefully monitored as
circumstances change over time.

31
Tax Planning
Tax planning focuses on the client’s current and
future tax obligations and strategies employed to
minimize or defer taxation on personal and/or
business income. Tax planning strategies are
designed to help strengthen the client’s financial
position in current and future tax periods and
better enable him to meet his personal goals,
needs and priorities. Tax planning is a key
financial planning area since financial decisions
will generally have tax implications.

Estate Planning
Estate planning focuses on the payment of
expenses and obligations at death and the
transfer of assets to successors under the Will
and outside the Will. The financial planner
assesses the client’s estate wishes, projects the
client’s net worth at death, determines any
constraints or opportunities to achieve the
client’s transition and estate planning goals,
and develops strategies and recommendations
to help meet them.

Legal Aspects
The financial planner must understand the client’s
legal situation. This may relate to spousal and
child support obligations or entitlements; third
party obligations; shareholder, partner or trust
agreements; Powers of Attorney or Mandates in
the case of incapacity. A full knowledge of the

32
 client’s legal rights and obligations is critical based
on their potential repercussions and impact on
achieving his personal goals.

Fundamental Financial planners must apply fundamental

Financial financial planning practices to all areas
Planning of financial planning. These elements relate
Practices2 to the integration and interrelationships
among the areas and are key to any and all
financial planning engagements.

In order for a financial planner to provide

meaningful advice and planning, he must
understand all of the client’s personal goals,
needs, priorities, interdependencies, overall
constraints and opportunities in order to
develop appropriate financial planning
strategies and recommendations.

Throughout the planning process, it is

important to consider the integration of
financial planning areas since decisions made
in one area will impact, and be impacted by,
decisions made in others. For example, to the
extent that a client wishes to provide for their
child’s education over the next four years, retire
in 10 years and leave a sizeable estate, the budget
will need to account for these various goals.

2
IQPF considers the integration and interrelationships among
financial planning areas by raising them in the context of a
number of defined client situations, each of which requires the
consideration of multiple financial planning areas.

33
 Likewise, investment planning decisions will
impact the client’s ability to meet goals related
to major purchases, as well as retirement and
estate planning goals. There is also a significant
relationship between investment planning and
tax planning since different asset classes and
investment vehicles have different levels of
tax efficiency.

As well, clients may not be aware of how

decisions over their lifetime will affect the value
of their estate and its distribution. The financial
planner can educate clients about the impact
of retirement planning and risk management
decisions on their estate plan and recommend
strategies, including maximizing RRSP savings,
setting up an individual pension plan or
purchasing additional insurance to help
create the level of estate the client wishes.

Professional skills represent

the fundamental abilities
that characterize a true
financial planner.
34
Professional The Framework further identifies two categories
Skills of professional skills – “Communication” and
“Cognitive Abilities and Judgment”. Professional
skills speak to acting as a professional with
clients and colleagues and to the financial
planner’s responsibility to the profession of
financial planning.

Professional skills are inherent in the fulfillment

of each and every financial planning function
and competency with each and every client.
The financial planner could be applying several
of the professional skills throughout any given
client engagement. They are depicted in the
Framework as overlaying all financial planning
functions, areas and the complete set of
competencies. They represent the fundamental
abilities that define a true professional.

The two categories of professional skills are

defined below.

Communication
At the outset of any financial planning
engagement, the financial planner must gain a
full and complete understanding of the client’s
quantitative and qualitative information related
to their goals, needs and priorities, including their
values, circumstances, attitudes and biases. This
information can best be obtained through an
interview process that employs various interview

35
methods or techniques which encourage
discussion, demonstrate interest and attention,
and put the client at ease. Responsibility for
effective communication rests primarily with the
financial planner. This requires active listening
skills to build a good rapport and a trusting
relationship with the client.

Recommendations and strategies must be

presented in a clear and logical manner with
any objections and concerns managed in a
positive and productive manner. The financial
planner must always bear in mind that the client
makes the final decision and be respectful of the
client’s thinking, behaviours and any differences
of opinion.

Cognitive Abilities and Judgment

The process of providing financial planning
recommendations requires that the financial
planner has the capacity to apply judgment
in identifying client information to gather,
in assessing the appropriate type and level of
analysis and in integrating information from
a variety of sources. They must also be able to
apply sound mathematical methods, logic and
reasoning to identify and assess the strengths
and weaknesses of potential strategies and
the ability to adapt to change in the face of
new information, changes in economic and
regulatory environments, changing client
objectives and situations.

36
 Financial planners must practice in accordance
with applicable professional standards and
use reasonable judgment in those areas not
addressed by existing practice standards.
Further, they must employ sound professional
reasoning to decide not only the technically
best solution, but also the one that is ethically
and morally right. They must also recognize the
limits of their competence and seek the counsel
of other professionals when appropriate. Clients
place the financial planner in a position of trust.
There is a professional obligation to maintain
and foster that trust and to always place the
interests of the client ahead of all others.

Underlying these obligations is recognition of

the greater public interest role of the financial
planning profession and the responsibility to
act with the highest degree of professionalism
that inspires the respect of clients, colleagues,
industry and the public.

Technical Technical knowledge across financial planning

Knowledge areas is the foundation for competent
performance. As such, without the appropriate
technical knowledge, the competencies cannot
be demonstrated. This knowledge comes from
a variety of sources, including formal education,
continuing education, professional journals and
the daily business press.

37
About FPSC and IQPF

Financial Planning Standards Council (FPSC®) is

a not-for-profit organization which develops,
promotes and enforces professional standards
in financial planning through Certified
Financial Planner® certification. FPSC's
purpose is to instill confidence in the financial
planning profession. FPSC ensures that CFP®
professionals and FPSC Level 1™ Certificants
in Financial Planning meet appropriate
standards of competence and professionalism
through rigorous requirements in education,
examination, experience and ethics.

The Institut québécois de planification financière

(IQPF) is the only organization in Quebec
authorized to grant financial planning diplomas
and to establish rules concerning the ongoing
professional development of professional
financial planners. Only professionals
recognized by the Institut québécois de
planification financière are authorized to use
the title of Financial Planner (F.Pl.) in Quebec.
The IQPF is also the only organization in the
province entirely dedicated to and reserved for
financial planners.

38
Contact FPSC: 902 - 375 University Avenue,
Information Toronto, Ontario M5G 2J5
416 593-8587 / Toll Free: 1 800 305-9886

IQPF: 3 Place du Commerce, suite 501,

Île-des-Soeurs, Verdun (Quebec) H3E 1H7
514 767-4040 / Toll Free: 1 800 640-4050

39
Acknowledgements

FPSC and IQPF would like to express our sincere gratitude to the diverse
group of financial planners, from coast to coast, who have contributed to the
development of The Canadian Financial Planning Definitions, Standards &
Competencies. We would also like to express our appreciation to the many
firms, across industry sectors, that contributed to its development. Your
thoughtful input was instrumental in helping to shape the content.

industry representatives
Debbie Ammeter, CFP, Fellow of Scott McKenzie, CFP, T. E. Wealth
FPSC™, Investors Group
Dominic Proietti, CPA, CA,
Kevin Bandelow, CFP, Sun Life Scotiabank Wealth Management
Jack Courtney, CFP, Fellow of FPSC™, Gaetan Ruest, Investors Group
Investors Group
Nick Spencer, CFP, National Bank
Caroline Dabu, BMO Financial Group
Mike Steele, CFP, Manulife
Richa Hingorani, CPA, CMA, CFP,
Kim Thompson, Credential
Fellow of FPSC™, RBC
Barbara Trieloff-Deane, PhD,
Cathy Hiscott, CHS, CFP,
FCSI, CIWM, FMA, CFP,
Freedom 55 Financial
Qtrade Financial Group
Rob McGavin, CFP,
Michael Walker, RBC Financial Planning
Scotiabank Wealth Management

financial planners
Nathalie Bachand, A.S.A., F.Pl. Sophie Labonne, MBA, F.Pl.,
BIBC, SIFC
Annie Boivin, B.B.A., F.Pl., D. Fisc., TEP
France Leclerc, M. Fisc., F.Pl.
Dan Busi, CFA, CFP, Fellow of FPSC™
Craig Lilley, CFP, Fellow of FPSC™
Hélène Carrier, C. Adm., F.Pl., CLU
Lawrence Lynch, CFP, Fellow of FPSC™
Pierre Giroux, M. Sc., F.Pl.
Jason Peters, FCSI, CFP, Fellow of FPSC™
Dawn Hawley, CFP
Terry Schmauder, CFP
Cynthia Kett, TEP, CPA, CFP,
Fellow of FPSC™ Gilles Sinclair, FICB, F.Pl.
Kate Thompson, CFP

CFP®, Certified Financial Planner® and are certification trademarks owned outside the
U.S. by Financial Planning Standards Board Ltd. (FPSB). Financial Planning Standards Council
is the marks licensing authority for the CFP marks in Canada, through agreement with FPSB.
All other ® are registered trademarks of FPSC, unless indicated. © 2015 Financial Planning
Standards Council. All rights reserved.

40 40