Of the 56 candidates who wrote the qualified associated financial planner (QAFP) exam in February, 71% passed, FP Canada announced Wednesday.
James Plaxton, a wealth manager associate at Clearwater Wealth Management in Kelowna, B.C., scored top marks.
A post-exam survey conducted by FP Canada found that 84% of QAFP candidates wrote the exam so they can better serve their clients and enhance their skills, while 37% of candidates cited title protection as their motivation for taking the exam. In addition, 26% said they wrote the exam because the certification was required by their employers.
The exam sitting was the last during the transition period for use of the “financial planner” title in Ontario. As of March 28, anyone who used the title on or before Jan. 1, 2020, must have a regulator-approved credential — such as the CFP or QAFP designation — to continue using the title.
Anyone who began using the “financial planner” title after Jan. 1, 2020, has been required to have a regulator-approved credential since March 28, 2022.
Canada had about 17,500 CFP professionals and about 1,200 QAFP professionals as of last Dec. 31, according to FP Canada’s website.