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The financial services regulator in Ontario has approved another credential for “financial planner” under the province’s title protection rules.

The Chartered Financial Planner designation, overseen by the Canadian Institute of Financial Planning, has been approved for “financial planner” title use, the Financial Services Regulatory Authority of Ontario (FSRA) said in a release on Friday.

“By approving another credential, we are providing individuals and families with more choice when seeking the assistance of a qualified financial professional,” said Huston Loke, executive vice-president of market conduct with FSRA, in a release.

“Consumers can also have confidence that the individual they are dealing with has a minimum standard of education, is being actively supervised by an approved credentialing body and is subject to a complaints and discipline process.”

With the addition of the Chartered Financial Planner, there are now six approved credentials for “financial planner.” There are also eight approved credentials for using the title “financial advisor.”