This year marks the 30th anniversary of FP Canada. Its founding, in many ways, represented the beginning of the financial planning profession’s modern era in Canada. Looking back on three decades of financial planning, I’m struck by how profoundly the profession has evolved.
Back in 1995, financial planning was still an emerging field finding its footing. The organization then known as the Financial Planners Standards Council of Canada (which later became FP Canada) was formed to unify and elevate professional standards for financial planners across the country.
Today, financial planning stands as a true profession guided by standards and defined by a shared purpose: to help people build financial wellness and lifelong confidence in their financial decision-making.
Looking back, five enduring lessons stand out — spanning ethics, economics, social factors, technology and regulation. Each shapes the profession we know today.
Clients’ interests must always come first
Ethics and professionalism are the foundation of any profession. In the early days of financial planning, formal standards were limited and trust was assumed. Today, trust must be earned — through competence, transparency and an unwavering commitment to the public interest.
As the profession matured, the introduction of clear codes of professional responsibility which include ethical and practice requirements, rigorous certification requirements and robust oversight brought new credibility to financial planning.
Today, ethical and professional standards have become the compass guiding planners through complexity, ensuring that advice is grounded in care, competence and accountability.
This signals to Canadians that financial planners are held to the highest professional standards, and that their interests come first. This commitment remains the constant that sustains trust — and secures the future of the profession.
Planning is less about markets and more about people
It’s not a stretch to say the global economy has undergone profound transformation over the last three decades. From the dot-com bubble and bust to the 2008 financial crisis and Covid pandemic, financial planners and their clients have faced no shortage of market volatility. We saw the rise of emerging markets, shifting global trade dynamics and extended periods of ultra-low interest rates, followed by intense inflationary pressures.
What’s most interesting to me through all of this is that regardless of the underlying economic environment, the value of financial planning remains clear. Whether we’re in periods of growth or recession, Canadians are focused on the goals that matter to them. Although planner-client conversations may shift depending on the day’s headlines, at its core, financial planning is about helping people plan their lives.
Today’s financial planners help clients navigate not only investments, but also career transitions, family changes and legacy decisions. The lesson? True value lies in connecting money to meaning — helping people live with confidence and purpose, whatever the economy brings.
Everyone can (and should) benefit from financial planning
Access to professional financial planning shouldn’t be a privilege reserved for a few — it should be a cornerstone of financial well-being for all Canadians. It’s been encouraging to see progress when it comes to access to advice.
One example is the scope of the profession. Of the 28 countries around the world where the Certified Financial Planner certification is recognized, Canada has the highest concentration of financial planners per capita.
Beyond that, technology has helped improve efficiency and expand reach, and greater emphasis on financial literacy has opened doors that were once closed. There is considerably more work to be done in ensuring more Canadians have access to professional financial planning, but organizations like the Canadian Foundation for Financial Planning are doing important work to make planning accessible to those experiencing financial vulnerability.
At FP Canada, we strongly believe that inclusion strengthens our profession. By serving a broader audience, we not only improve individual lives — we help build more financially resilient communities and a stronger Canadian economy.
Technology is a tool, not a competitor
Few forces have reshaped the work of professional financial planners more than technology. Over the past three decades, we’ve moved from paper-based plans and manual calculations to dynamic, technology-enabled solutions that support real-time collaboration and long-term strategy.
Rather than replacing planners, technology has become a powerful partner — automating routine tasks so we can focus on what matters most: understanding people, guiding decisions and offering empathy when it counts. The planners who embrace technology as an ally deliver deeper, more personalized advice — and set the standard for the next generation.
At FP Canada, we’ve championed this evolution — not by chasing trends, but by ensuring that innovation serves the public interest.
Through initiatives like Fintellect, we’re helping planners navigate AI, digital transformation and ethical integration — so they can remain trusted guides in an increasingly complex world.
Technology is not the future of financial planning — it’s the enabler of a more human, more responsive profession.
Effective regulations elevate professionalism and accountability
Regulation has evolved in step with the profession itself. The regulatory environment has moved from a product- and sales-driven focus towards oversight with a client-first framework that prioritizes professionalism, accountability and consumer protection. This certainly represents movement in the right direction, and a shift that strengthens the integrity of financial planning as a profession.
This is an area that’s constantly evolving, and one in which collaboration is critical between policymakers, regulators, credentialing bodies, industry, consumer advocates and other stakeholders.
When it comes to title protection legislation, for instance, we at FP Canada are committed to advocacy that safeguards consumers by ensuring only qualified professionals can use the financial planner title. Achieving this goal requires carefully thought-out and effective regulations, including clear minimum standards for the approval and ongoing oversight of credentialling bodies. We continue to work with regulators and sector partners to evolve title protection frameworks for the benefit of consumers.
Looking ahead
As we mark 30 years of progress, one truth stands clear: financial planning is no longer just about managing money — it’s about empowering lives.
It’s about earning trust through professionalism, embracing technology with purpose and showing up for Canadians with empathy, clarity and courage.
The future of this profession will be shaped not by tools or trends, but by the values we uphold and the impact we choose to make — one conversation, one decision, one life at a time.