(February 8 – 13:50 ET) – The Canadian Association of Financial Planners may drop its coveted Registered Financial Planner designation.

The CAFP today announced that it will ask its members to make significant changes to the association’s bylaws at the 2001 Annual General Meeting in June. One proposal is to end the special status that RFP planners have in the organization, creating a single voting membership class of equals, all of whom would be called Practitioner Members. The association also proposes to cease its administration of the RFP.

The CAFP board has outlined two options for the future of the RFP designation: create a new organization, independent of CAFP, to administer and promote the RFP; or drop it altogether. Members holding the RFP designation are being asked to indicate which alternative they prefer by March 9, 2001 when the CAFP board next meets.

“There’s more to being a CAFP Member than just having a specific designation,” said Catherine Hurlburt, CAFP’s chair. “Our professional credentials represent a culture that includes ethical behaviour, continuous learning, consumer protection and disclosure, and pre-determined levels of service, including the use of the Six Step process. It’s the adherence to these requirements of membership that defines a CAFP Member as a practicing professional financial planner.”

“Planners join CAFP because they want to substantiate their commitment to professionalism,” said Terry Taylor, CAFP president. “The RFP is one symbol of that commitment, but it is not the only one.”

The 2001 Annual General Meeting will be held on June 7 in Montreal during the 17th annual CAFP convention, “On the Right Track”.
-IE Staff