Here's the Plan


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We’ve created this new presentation to help Canadians understand the financial planning process, the benefits of engaging in financial planning, and the value of working with a CFP® professional.

Published in: Economy & Finance, Business

Here's the Plan

  1. 1. Here’s the Plan.
  2. 2. How are you doing financially?  I’m in control of my finances.  My loved ones will be looked after when I’m gone.  I’m prepared for a financial emergency.  I’ll be able to retire in the lifestyle I want.  I have enough income to enjoy my life.  I only pay taxes that are absolutely necessary.  I anticipate changing my career in the next one to five years.  I will be mortgage free by retirement.  I anticipate downsizing my home in the next one to five years.  My life goals and aspirations are achievable.  I anticipate getting married or divorced in the next year.  Financially, I have peace of mind.  I anticipate starting my family in the next year.  There’ll be enough money for my children’s post secondary education.
  3. 3. “When life is in transition, money is in motion.” – Mitch Anthony Career changes, relocations, family expansions—or the many other events that you plan for, dream about, or don’t expect at all—can be financially unsettling. A sound financial plan will help you make informed choices when faced with life’s inevitable changes.
  4. 4. When you have the right financial plan for your circumstances…   You can balance what you need and want today with the personal goals you have for the future.   You can take control of your future and achieve your personal objectives. You won’t wonder whether you can afford the vacation or the house or the college tuition — you’ll know. You’ll have a financial cushion when unexpected expenses crop up.
  5. 5. If you want a sound sleep, get a sound financial plan. Most reassuring is that a good plan will help you live the life you want with the resources you already have.
  6. 6. The Value of Financial Planning The following slides contain results from The Value of Financial Planning, a three-year longitudinal study conducted by FPSC® and the Financial Planning Foundation to measure the impact of financial planning on Canadians’ emotional and financial well-being, as well as the impact of financial planning services offered by CFP® professionals compared to non-certified advisors.
  7. 7. “I feel I am better off after I have undertaken financial planning” Canadians with comprehensive plans reported higher levels of: 85% financial wellbeing 62% emotional wellbeing 45% overall contentment than those without
  8. 8. “I can deal with the bumps in life” Feel prepared to deal with: Comprehensive Plan Unexpected financial emergencies Tough economic times Loved ones looked after in the event of my death No Plan 60% 28% 65% 36% 73% 41%
  9. 9. Working with a CFP® professional makes a meaningful difference to Canadians Canadians Report Their financial affairs are on track They have greater peace of mind They are closer to achieving some of their life goals as a result of planning CFP® Professional Non-Certified Planner 78% 73% 54% 70% 61% 63%
  10. 10. A professional financial plan requires a professional financial planner Today in Canada, outside of Quebec, anyone can call themselves a financial planner. There is no regulation that restricts the use of this title. So how do you know that the person you’ve engaged to be your planner has the appropriate knowledge, skills and abilities to earn your trust? Insist on finding someone who holds the CFP® designation.
  11. 11. Demand the gold standard: the CFP® designation     Follow internationally recognized standards of knowledge, skills and abilities Ethically obligated to put their clients’ interests first Have completed a rigorous education program, passed 2 national exams and have 3 years of qualifying work experience Complete professional education every year Don’t settle for less.
  12. 12. Here’s the Plan Your Current Financial & Personal Situation Financial Planning with a CFP® Professional Achievement of Your Personal & Financial Objectives Whatever your needs, working with a CFP® professional is a crucial step in helping you ensure your current and future financial well-being.
  13. 13. Financial Planning Standards Council: Your assurance of integrity. Learn more at Not-for-profit organization Develops, promotes and enforces professional standards in financial planning in Canada Certification granted by FPSC® provides assurance to Canadians that the design of their financial future rests with an appropriately qualified professional who will put clients’ interests ahead of their own.
  14. 14. Disclaimer This presentation was initially prepared by Financial Planning Standards Council (FPSC®). Comments and opinions based on the presentation that are expressed by (insert name here) are those of the CERTIFIED FINANCIAL PLANNER® Professional and do not necessarily reflect the views of FPSC. CFP®, CERTIFIED FINANCIAL PLANNER® and CFP (with flame logo) ® are certification trademarks owned outside the U.S. by Financial Planning Standards Board Ltd. (FPSB). Financial Planning Standards Council is the marks licensing authority for the CFP marks in Canada, through agreement with FPSB. All other ® are registered trademarks of FPSC, unless indicated. © 2014 Financial Planning Standards Council. All rights reserved.