Doing Homework

Almost three quarters of those who challenged the qualified associate financial planner (QAFP) exam for the first time in February passed, according to a release from FP Canada.

FP Canada said 58 people wrote the exam in February, with 73% of first-timers earning a passing grade. That compares to a pass rate of 68% at the previous sitting, in October 2023, when 57 people challenged the exam.

On Thursday, FP Canada named the top scorers from the February 2024 sitting. They were:

  • Faith Hakkarainen, Abbotsford, B.C., Sun Life, first place
  • Connor Studer, Calgary, Alta., RBC, second-place tie
  • Mitchell Kubrak, Spruce Grove, Alta., RBC, second-place tie
  • Alisdair Galbraith, North Bay, Ont., independent, second-place tie

“I’d like to congratulate Faith, Connor, Mitchell and Alisdair on their exceptional performances on the QAFP exam,” said Tashia Batstone, president and CEO of FP Canada, in the release. “We at FP Canada commend you on your success, and we wish you the all the best in your financial planning careers.”

In an FP Canada survey, 88% of candidates in February said they wrote the exam to enhance their skills and better serve clients, the release said. Title regulation was a motivating factor for 41%, and 29% said their employers required them to be certified.

In addition to passing the exam, candidates for QAFP certification must have a post-secondary diploma and at least one year of qualifying work experience. Effective this month, candidates without a diploma may obtain certification if they have at least five years of qualifying work experience.

QAFP certification launched in January 2020, and there were about 1,400 QAFP professionals in Canada as of March 31, FP Canada’s website says.