Doing Homework

The results are in for FP Canada’s February sitting of the certified financial planner (CFP) exam.

The exam was written by 259 candidates, and the pass rate for first-time writers was 75.9%, a release said on Thursday.

In a post-exam survey, about 82% of exam writers said they took the exam to enhance their skills and better serve clients, the release said.

About 43% said title protection legislation was a motivating factor. In Ontario, “financial planner” became a protected title last year, requiring an approved credential such as the CFP.

For about 36% of CFP exam writers in February, certification was required by their employers, the FP Canada survey found.

As of March 31, Canada had about 17,500 CFP professionals, the release said.