(April 3 – 09:30 ET) – The board of directors of the Financial Planners Standards Council has approved 10 new education programs leading to the CFP designation at its meeting held on March 22. Students completing the financial planning program at any of registered educational institution are eligible to write the national CFP Examination.

The new program providers — Ryerson Polytechnic University, the University of Quebec Network of seven universities and George Brown College — bring the total number of programs registered directly with FPSC to 22 offered by 18 different institutions.

The FPSC says Ryerson is the third institution to integrate the CFP syllabus into a 4-year degree program. “It represents the current trend among universities and colleges to develop courses leading to the CFP that are part of new and existing full-time finance, business and/or commerce programs,” says FPSC president, Don Johnston. “And it certainly meshes with our CFP licensee profile that shows the majority of planners who have earned the CFP designation are post-secondary educated.”

The FPSC says it is particularly pleased that universities in Quebec are responding to the market demand for a financial planning designation that is recognized across Canada and throughout the world. The University of Quebec programs lead to a certificate, and courses are offered through either day or evening classes. The financial services regulatory regime in Quebec currently restricts financial planning titles and designations to Financial Planner or F.PL.

George Brown has two programs — a three-year diploma day program and a Continuing Education program leading to a certificate.

The FPSC notes there are currently 85 programs offered at 64 institutions across Canada that are registered directly with FPSC or have entered into academic partnerships with The Canadian Association of Insurance and Financial Advisors or The Canadian Institute of Financial Planning.

The general requirements for registering a program are:

  • The program must be a certificate/degree or professional designation program.
  • FPSC requires a statement of objectives for the program.
  • The curriculum must contain courses that cover the current CFP examination syllabus.
  • FPSC requires documentation about the qualifications of the educators responsible for developing and/or teaching each course and other components of the program.
  • FPSC requires an outline of other resources available to students.

Programs are approved for a three-year term.