Stepping It Up … the future of financial planning, and other stories
Today’s Agenda <ul><li>Tenets of a Profession </li></ul><ul><li>FPSC’s role </li></ul><ul><li>Where are we today? </li></u...
A Profession? <ul><li>Is financial planning a profession? </li></ul><ul><li>Why or why not? </li></ul>
Tenets of a Profession <ul><li>Requires high level of education </li></ul><ul><li>High standards of conduct </li></ul><ul>...
More Tenets <ul><li>Commitment to continuous learning </li></ul><ul><li>Prime purpose of rendering a public service – publ...
A Profession in the Making FPSC’s Mission <ul><li>Benefit the public by leading the evolution of financial planning throug...
A Profession in the Making FPSC’s Purpose <ul><li>Build and continuously define the financial planning profession through ...
Stepping it Up The Result <ul><li>Through our work (and the work of the professional community) we build trust in the prof...
A Profession in the Making The Result <ul><li>Recent survey in the U.S. of CFP   professionals listed obtaining CFP    c...
FPSC’s Vision For FPSC <ul><li>The standards-setter for the profession </li></ul><ul><li>Influential promoter of public in...
Professional Recognition Joint Responsibility <ul><li>Whose responsibility is it? </li></ul><ul><li>FPSC </li></ul><ul><li...
Tenets of a Profession The Gaps <ul><li>Cannot be seen as a marketing tool </li></ul><ul><li>Must be recognized as serving...
A Profession? The facts - The Good News <ul><li>2006 independent survey of CFP professionals tells us: </li></ul><ul><ul><...
A Profession? Facts – More Good News <ul><li>Consumer survey tells us: </li></ul><ul><ul><li>One in three adult Canadians ...
A Profession? The Less Good News <ul><li>Consumer Perceptions </li></ul><ul><ul><li>Very strong association with “salesper...
A Profession? More Not-so-Good News <ul><li>25% of YOUR CLIENTS don’t know that you hold the CFP! </li></ul><ul><li>50% of...
Financial Planning? <ul><li>Poor understanding of what financial planning represents, and its public value </li></ul><ul><...
Where are We Today? The Good <ul><li>17,000 strong community </li></ul><ul><li>High standards of entry </li></ul><ul><li>E...
Where are We Today? More Not-so-Good <ul><li>Still limited provision of comprehensive financial planning among the FP comm...
The Gaps – Who’s Going to Fix Them? <ul><li>FPSC’s responsibilities </li></ul><ul><li>CFP    professionals’ responsibilit...
FPSC’s Role Revisited <ul><li>Establish appropriate requirements for entry to the profession consistent (“inputs”) </li></...
FPSC’s Role <ul><li>Establish and oversee standards that CFP professionals must meet (“outputs”) </li></ul><ul><ul><li>Sta...
The Work Ahead FPSC’s Ongoing Mandate <ul><li>Enforce all standards </li></ul><ul><li>Require and enforce  relevant  CPD <...
The Outputs Standards for CFP Professionals <ul><li>Ethical conduct </li></ul><ul><li>Practice </li></ul><ul><li>Competent...
Standards for the Profession Ethical Conduct <ul><li>Defined by Code of Ethics </li></ul><ul><ul><li>Well established </li...
Standards for the Profession Standards of Practice <ul><li>Practice Standards </li></ul><ul><ul><li>Well established? </li...
Practice Standards Why are They So Important? <ul><li>Clarify expectations between planner and client </li></ul><ul><li>Be...
Practice Standards Reaction of the CFP Community <ul><li>Generally embraced – recognition of benefits to the profession </...
Practice Standards Implementation Issues <ul><li>Greatest concern from practitioners regarding Standard 100 </li></ul><ul>...
Practice Standards FPSC’s response <ul><li>FPSC guide to implementation of Standard 100 developed </li></ul><ul><ul><li>Se...
Practice Standards Ongoing Implementation Challenges <ul><li>CFP professionals not fully aware of obligations </li></ul><u...
Practice Standards Overcoming Challenges <ul><li>Use all resources available to you </li></ul><ul><ul><li>Work with your o...
Standards of Competence The Missing Piece <ul><li>While Practice Standards further define the process, they don’t address ...
Knowledge Syllabus Gaps <ul><li>Students:  “Why do I have to know  that” </li></ul><ul><li>CFPs : “Getting the designation...
Competency Analysis FPSC’s Competency Profile <ul><li>Principles </li></ul><ul><ul><li>Content built and validated by prac...
Competency Profile Defining the Profession <ul><li>The Challenge </li></ul><ul><ul><li>Establish a cross-sectoral task for...
Competency Profile Defining the Profession <ul><li>Likely Result </li></ul><ul><ul><li>A one page document that defines th...
Competency Profile Defining the Profession <ul><li>Next step – if we can get over that hurdle </li></ul><ul><li>Define the...
Competency Profile Good News! <ul><li>We Did It! </li></ul>
Competency Analysis Premise – CFP Professionals Defined <ul><li>Provide wide range of financial strategies </li></ul><ul><...
Competency Analysis Distinction between CFP and Specialists <ul><li>Specialists can provide expert advice within their are...
Competency Analysis Fundamental Premise <ul><li>Competencies built on definition of financial planning: </li></ul><ul><ul>...
FPSC’s Competency Analysis Why the big deal? <ul><li>Focus in FS industry shifting from “sales” to “advice” </li></ul><ul>...
Competency-Based Approach More than knowledge, More than proficiency <ul><li>“ Competencies provide a description of the a...
Competence More than just knowledge <ul><li>A competent professional must demonstrate the inherent characteristics of a pr...
Competency Analysis Profile Overview <ul><li>Key to CFP professionals’ uniqueness is that competencies must be drawn upon ...
Competency Analysis Profile Overview – Core Domains <ul><li>Competencies broken down as follows:  </li></ul><ul><li>Three ...
Competency Analysis Profile Overview – Three additional elements <ul><li>Fundamental financial planning practices </li></u...
Competency Analysis Profile Overview - Knowledge <ul><li>Knowledge elements were identified only after establishment of co...
Competency Analysis International Applicability <ul><li>Competency profile developed to be transferable from country to co...
 
 
CFP Competency Profile Relevance to Building the Profession <ul><li>Financial planning, perhaps more than any other profes...
Competency Profile Relevance to the CFP Planner <ul><li>Serves as reminder of expectations for competent performance </li>...
The Competency Profile What’s it to you? <ul><li>Read it </li></ul><ul><li>Understand it </li></ul><ul><li>Use it to valid...
Financial Planning and CFP What Next?
Where from Here? FPSC’s Vision – for the CFP  <ul><li>The Gold Standard of Financial Planning </li></ul><ul><li>Truly des...
FPSC’s Strategic Plan Desired Outcomes <ul><li>Respect in the profession and  CFP   professionals </li></ul><ul><li>We’re...
Trust in the Profession Our Plans -  What can FPSC do? <ul><li>Partner with universities </li></ul><ul><li>Partner with al...
FPSC and CFP Certification  Changes Ahead <ul><li>Build and leverage external relationships </li></ul><ul><li>Attract new ...
Evolution of the Profession Changes Ahead <ul><li>Develop government and regulatory relations </li></ul><ul><li>Enhance ce...
Evolution of the Profession In Closing <ul><li>We can lead, but …. </li></ul><ul><ul><li>Professions are built from within...
Thank You for Your Time and Patience … now let’s go step it up!
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Cary List - FPSC Stepping it Up - the new CFP Competency Profile

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Cary List - FPSC Stepping it Up - the new CFP Competency Profile

  1. 1. Stepping It Up … the future of financial planning, and other stories
  2. 2. Today’s Agenda <ul><li>Tenets of a Profession </li></ul><ul><li>FPSC’s role </li></ul><ul><li>Where are we today? </li></ul><ul><li>The challenges </li></ul><ul><li>What’s FPSC doing about it? </li></ul><ul><li>The Competency Profile in Detail </li></ul><ul><li>Where to from here? </li></ul>
  3. 3. A Profession? <ul><li>Is financial planning a profession? </li></ul><ul><li>Why or why not? </li></ul>
  4. 4. Tenets of a Profession <ul><li>Requires high level of education </li></ul><ul><li>High standards of conduct </li></ul><ul><li>Generally accepted standards of practice </li></ul><ul><li>Clearly defined, unique set of knowledge, skills and abilities with high standards of achievement </li></ul>
  5. 5. More Tenets <ul><li>Commitment to continuous learning </li></ul><ul><li>Prime purpose of rendering a public service – public accountability </li></ul><ul><li>Standards based on concerted opinion and force of organization </li></ul>
  6. 6. A Profession in the Making FPSC’s Mission <ul><li>Benefit the public by leading the evolution of financial planning through the development, enforcement and promotion of the highest competency and ethical standards in financial planning as defined by CFP  professionals </li></ul>
  7. 7. A Profession in the Making FPSC’s Purpose <ul><li>Build and continuously define the financial planning profession through CFP  certification, ensuring that it is a viable, sustainable and rewarding profession that serves the public interest </li></ul>
  8. 8. Stepping it Up The Result <ul><li>Through our work (and the work of the professional community) we build trust in the profession and the CFP  practitioner community </li></ul><ul><li>This in turn paves the way for CFP  professionals to succeed </li></ul>
  9. 9. A Profession in the Making The Result <ul><li>Recent survey in the U.S. of CFP  professionals listed obtaining CFP  certification as number three success factor. </li></ul><ul><li>First two factors spoke to subsidiaries of CFP  certification – communications and trust </li></ul>
  10. 10. FPSC’s Vision For FPSC <ul><li>The standards-setter for the profession </li></ul><ul><li>Influential promoter of public interest </li></ul><ul><li>Influential advocate for the profession </li></ul><ul><li>Unique in our clearly defined role as the professional regulatory authority for FP </li></ul><ul><li>Influential promoter of the value of FP and of CFP  certification </li></ul><ul><li>The organization that leads the way to a strong and respected profession represented by CFP  professionals </li></ul>
  11. 11. Professional Recognition Joint Responsibility <ul><li>Whose responsibility is it? </li></ul><ul><li>FPSC </li></ul><ul><li>Your professional association </li></ul><ul><li>Yourselves </li></ul><ul><li>We all have to do our part </li></ul>
  12. 12. Tenets of a Profession The Gaps <ul><li>Cannot be seen as a marketing tool </li></ul><ul><li>Must be recognized as serving public good </li></ul><ul><li>Must have uniformity and consistency of service </li></ul><ul><li>Must be perceived distinct value to public </li></ul>
  13. 13. A Profession? The facts - The Good News <ul><li>2006 independent survey of CFP professionals tells us: </li></ul><ul><ul><li>CFP is most important pursuit </li></ul></ul><ul><ul><li>CFP validates skills </li></ul></ul><ul><ul><li>CFP improves knowledge </li></ul></ul><ul><ul><li>CFP gives competitive advantage </li></ul></ul>
  14. 14. A Profession? Facts – More Good News <ul><li>Consumer survey tells us: </li></ul><ul><ul><li>One in three adult Canadians know the CFP </li></ul></ul><ul><ul><li>CFP has the highest unaided awareness of all FS designations </li></ul></ul><ul><ul><li>High levels of consumer satisfaction </li></ul></ul><ul><ul><li>Associated with positive attributes </li></ul></ul><ul><ul><ul><li>“ Cares about me” </li></ul></ul></ul><ul><ul><ul><li>“ is accessible” </li></ul></ul></ul><ul><ul><ul><li>“ is in tune with my needs” </li></ul></ul></ul>
  15. 15. A Profession? The Less Good News <ul><li>Consumer Perceptions </li></ul><ul><ul><li>Very strong association with “salesperson” </li></ul></ul><ul><ul><li>Weak association with important characteristics of a profession </li></ul></ul><ul><ul><ul><li>Consistent </li></ul></ul></ul><ul><ul><ul><li>Thorough </li></ul></ul></ul><ul><ul><ul><li>Unbiased </li></ul></ul></ul><ul><ul><ul><li>Professional </li></ul></ul></ul>
  16. 16. A Profession? More Not-so-Good News <ul><li>25% of YOUR CLIENTS don’t know that you hold the CFP! </li></ul><ul><li>50% of those who do know don’t know what it means </li></ul>
  17. 17. Financial Planning? <ul><li>Poor understanding of what financial planning represents, and its public value </li></ul><ul><li>Case in point… </li></ul>
  18. 18. Where are We Today? The Good <ul><li>17,000 strong community </li></ul><ul><li>High standards of entry </li></ul><ul><li>Exceptionally high retention rate </li></ul><ul><li>Growing awareness of financial planning and of CFP  as the profession’s standard </li></ul><ul><li>No credible alternative professional credential </li></ul>
  19. 19. Where are We Today? More Not-so-Good <ul><li>Still limited provision of comprehensive financial planning among the FP community – is this serving the public? </li></ul><ul><li>Very few consumers pay directly </li></ul><ul><li>Most Canadians don’t have a financial plan </li></ul><ul><li>Those that claim to have one didn’t use a financial planner to design it! </li></ul>
  20. 20. The Gaps – Who’s Going to Fix Them? <ul><li>FPSC’s responsibilities </li></ul><ul><li>CFP  professionals’ responsibilities </li></ul>
  21. 21. FPSC’s Role Revisited <ul><li>Establish appropriate requirements for entry to the profession consistent (“inputs”) </li></ul><ul><ul><li>Rigorous Examination </li></ul></ul><ul><ul><li>Appropriate experience requirements </li></ul></ul><ul><ul><li>Appropriate, relevant education </li></ul></ul>
  22. 22. FPSC’s Role <ul><li>Establish and oversee standards that CFP professionals must meet (“outputs”) </li></ul><ul><ul><li>Standards of Practice </li></ul></ul><ul><ul><li>Standards of Ethical Conduct </li></ul></ul><ul><ul><li>Standards of Competent Performance </li></ul></ul>
  23. 23. The Work Ahead FPSC’s Ongoing Mandate <ul><li>Enforce all standards </li></ul><ul><li>Require and enforce relevant CPD </li></ul><ul><li>Continue to define the profession, but through you </li></ul><ul><li>Promote the value proposition </li></ul>
  24. 24. The Outputs Standards for CFP Professionals <ul><li>Ethical conduct </li></ul><ul><li>Practice </li></ul><ul><li>Competent performance </li></ul>
  25. 25. Standards for the Profession Ethical Conduct <ul><li>Defined by Code of Ethics </li></ul><ul><ul><li>Well established </li></ul></ul><ul><ul><li>Well defined </li></ul></ul><ul><ul><li>Well adhered to </li></ul></ul><ul><ul><li>Rigorous systems in place to enforce </li></ul></ul>
  26. 26. Standards for the Profession Standards of Practice <ul><li>Practice Standards </li></ul><ul><ul><li>Well established? </li></ul></ul><ul><ul><li>Well adhered to? </li></ul></ul><ul><ul><li>Rigorous systems in place to enforce? </li></ul></ul>
  27. 27. Practice Standards Why are They So Important? <ul><li>Clarify expectations between planner and client </li></ul><ul><li>Better-informed public </li></ul><ul><li>Enhanced confidence in the profession </li></ul><ul><li>Establish consistency and uniformity </li></ul><ul><li>Guidance for CFP professionals </li></ul>
  28. 28. Practice Standards Reaction of the CFP Community <ul><li>Generally embraced – recognition of benefits to the profession </li></ul><ul><li>Some see this as merely another “compliance” measure </li></ul><ul><ul><li>If we are going to be recognized as a profession, we need to overcome this attitude </li></ul></ul>
  29. 29. Practice Standards Implementation Issues <ul><li>Greatest concern from practitioners regarding Standard 100 </li></ul><ul><ul><li>How do I write an Engagement Letter? </li></ul></ul><ul><ul><li>What should it look like? </li></ul></ul><ul><ul><li>I need further guidance </li></ul></ul><ul><ul><li>“ We already have enough compliance burden” </li></ul></ul>
  30. 30. Practice Standards FPSC’s response <ul><li>FPSC guide to implementation of Standard 100 developed </li></ul><ul><ul><li>Seven scenarios </li></ul></ul><ul><ul><li>Suggested phrases </li></ul></ul><ul><ul><li>Direct link: http://cfp-ca.org/pdf/FPSC-Resource-for-Practice-Standard-100.pdf </li></ul></ul>
  31. 31. Practice Standards Ongoing Implementation Challenges <ul><li>CFP professionals not fully aware of obligations </li></ul><ul><li>Public not fully aware of expectations </li></ul><ul><li>Not all organizations fully aligned with planners </li></ul><ul><li>Oversight challenges </li></ul>
  32. 32. Practice Standards Overcoming Challenges <ul><li>Use all resources available to you </li></ul><ul><ul><li>Work with your organization </li></ul></ul><ul><ul><li>Share ideas with your peers – get involved in your association and join or create a chapter </li></ul></ul><ul><ul><li>FPSC will assist through ongoing guidance, employer visits, etc. </li></ul></ul><ul><li>Understand the intent, scope and rationale for the Practice Standards </li></ul><ul><ul><li>Ask yourself – am I meeting my personal obligations establishing the financial planning profession? </li></ul></ul>
  33. 33. Standards of Competence The Missing Piece <ul><li>While Practice Standards further define the process, they don’t address what exactly a financial planner should be able to do </li></ul><ul><li>Previous approaches to certification were based primarily on knowledge – what must a CFP professional “know” </li></ul>
  34. 34. Knowledge Syllabus Gaps <ul><li>Students: “Why do I have to know that” </li></ul><ul><li>CFPs : “Getting the designation did not demonstrate my ability to perform financial planning.” </li></ul><ul><li>Employers: “We hire a CFP, who knows a lot, but we still have to teach them how to be a planner.” </li></ul><ul><li>The Public: “I don’t really understand exactly what a CFP professional can do for me.” </li></ul><ul><li>Internationally: “A CFP in Canada doesn’t mean the same as a CFP in Hong Kong/Australia/Japan” </li></ul>
  35. 35. Competency Analysis FPSC’s Competency Profile <ul><li>Principles </li></ul><ul><ul><li>Content built and validated by practising CFP professionals </li></ul></ul><ul><ul><li>Future-focused </li></ul></ul><ul><ul><li>Designed to help drive the profession </li></ul></ul><ul><ul><li>Should be “job neutral” </li></ul></ul><ul><ul><li>Should be “knowledge-independent” </li></ul></ul>
  36. 36. Competency Profile Defining the Profession <ul><li>The Challenge </li></ul><ul><ul><li>Establish a cross-sectoral task force of 50 experts from across the country </li></ul></ul><ul><ul><li>Charge them with creating a one-page document that defines the profession </li></ul></ul>
  37. 37. Competency Profile Defining the Profession <ul><li>Likely Result </li></ul><ul><ul><li>A one page document that defines the profession, signed by the chair </li></ul></ul><ul><ul><li>A 49 page appendix made up of 49 separate one-page dissenting opinions </li></ul></ul>
  38. 38. Competency Profile Defining the Profession <ul><li>Next step – if we can get over that hurdle </li></ul><ul><li>Define the profession worldwide </li></ul><ul><li>No small task! </li></ul>
  39. 39. Competency Profile Good News! <ul><li>We Did It! </li></ul>
  40. 40. Competency Analysis Premise – CFP Professionals Defined <ul><li>Provide wide range of financial strategies </li></ul><ul><li>Unique breadth of competencies </li></ul><ul><li>Wide breadth of knowledge </li></ul><ul><li>Work across multiple domains </li></ul><ul><li>Unique ability to identify and analyze inter-relationships among objectives – “integration” across multiple domains </li></ul>
  41. 41. Competency Analysis Distinction between CFP and Specialists <ul><li>Specialists can provide expert advice within their areas of expertise </li></ul><ul><li>Only CFP professionals can identify and create appropriate strategies across all domains to match the client’s situation, circumstances and values </li></ul>
  42. 42. Competency Analysis Fundamental Premise <ul><li>Competencies built on definition of financial planning: </li></ul><ul><ul><li>“ Process of creating strategies to help clients manage their financial affairs to meet life goals” </li></ul></ul><ul><ul><li>The profile applies to the practice of financial planning – not product sales and not specialization. </li></ul></ul>
  43. 43. FPSC’s Competency Analysis Why the big deal? <ul><li>Focus in FS industry shifting from “sales” to “advice” </li></ul><ul><li>While CFP leads the way, potential competitors still risk threatening CFP’s authority </li></ul><ul><li>After 15 or more years, no clearly-defined profile currently exists for professional financial planners </li></ul><ul><li>Provides pre-emptive measure to ensure ISO is complementary, rather than a threat, to the CFP </li></ul><ul><li>Provides regulators with clear distinction between CFP competencies and those of other financial advisors </li></ul><ul><li>Can fit neatly into any regulatory or political agenda </li></ul><ul><li>Can pave the way to professional self-regulation </li></ul>
  44. 44. Competency-Based Approach More than knowledge, More than proficiency <ul><li>“ Competencies provide a description of the abilities that a CFP professional must possess and represent not just the tasks, but also incorporate the job-related skills, knowledge, attitudes and judgements required by members of the profession.” </li></ul>
  45. 45. Competence More than just knowledge <ul><li>A competent professional must demonstrate the inherent characteristics of a professional, not just knowledge and skill </li></ul><ul><li>Knowledge, abilities and professional skills all contribute to competence </li></ul>
  46. 46. Competency Analysis Profile Overview <ul><li>Key to CFP professionals’ uniqueness is that competencies must be drawn upon concurrently, even across multiple domains </li></ul><ul><li>CFP professionals must be able to wade through the confusion and develop appropriate strategies </li></ul><ul><li>These are the truly distinguishing ability of a financial planning professional </li></ul>
  47. 47. Competency Analysis Profile Overview – Core Domains <ul><li>Competencies broken down as follows: </li></ul><ul><li>Three broad functions: </li></ul><ul><ul><li>Collection </li></ul></ul><ul><ul><li>Analysis </li></ul></ul><ul><ul><li>Synthesis </li></ul></ul><ul><li>Six components: </li></ul><ul><ul><li>Financial Management </li></ul></ul><ul><ul><li>Asset Management </li></ul></ul><ul><ul><li>Risk Management </li></ul></ul><ul><ul><li>Tax Planning </li></ul></ul><ul><ul><li>Retirement Planning </li></ul></ul><ul><ul><li>Estate Planning </li></ul></ul>
  48. 48. Competency Analysis Profile Overview – Three additional elements <ul><li>Fundamental financial planning practices </li></ul><ul><ul><li>“ Competencies that cut across all financial planning components, or that supersede the components and speak directly to that part of financial planning that cannot be broken down.” </li></ul></ul><ul><li>Professional skills </li></ul><ul><ul><li>“ Skills that speak to acting as a professional with clients and colleagues, and to the financial planner’s responsibility to the profession of financial planning.” </li></ul></ul><ul><li>Underlying knowledge </li></ul>
  49. 49. Competency Analysis Profile Overview - Knowledge <ul><li>Knowledge elements were identified only after establishment of competencies. </li></ul><ul><li>11 Knowledge domains established </li></ul>
  50. 50. Competency Analysis International Applicability <ul><li>Competency profile developed to be transferable from country to country </li></ul><ul><li>Core competencies are separated from knowledge </li></ul><ul><li>Competencies should be consistent from country to country </li></ul>
  51. 53. CFP Competency Profile Relevance to Building the Profession <ul><li>Financial planning, perhaps more than any other profession, has unique country-specific knowledge requirements </li></ul><ul><li>A profession cannot exist solely within a single country </li></ul><ul><li>Financial planning competency is universal – only the underlying knowledge changes from country to country, and even there, the domains of knowledge remain consistent worldwide </li></ul>
  52. 54. Competency Profile Relevance to the CFP Planner <ul><li>Serves as reminder of expectations for competent performance </li></ul><ul><li>Helps employers better understand and market the value proposition </li></ul><ul><li>Gives clients firm understanding of what you can do for them </li></ul><ul><li>Serves as basis for continuous professional development </li></ul><ul><li>Further distinguishes you </li></ul>
  53. 55. The Competency Profile What’s it to you? <ul><li>Read it </li></ul><ul><li>Understand it </li></ul><ul><li>Use it to validate your own competence </li></ul><ul><li>Paraphrase it to help your clients understand what you can do for them </li></ul><ul><li>Believe in the value of its contents </li></ul><ul><li>Make your clients understand the value </li></ul><ul><li>Be proud to be a CFP  ! </li></ul>
  54. 56. Financial Planning and CFP What Next?
  55. 57. Where from Here? FPSC’s Vision – for the CFP  <ul><li>The Gold Standard of Financial Planning </li></ul><ul><li>Truly desirable professional pursuit </li></ul><ul><li>In high demand </li></ul><ul><li>Influential by virtue of its stature </li></ul>
  56. 58. FPSC’s Strategic Plan Desired Outcomes <ul><li>Respect in the profession and CFP  professionals </li></ul><ul><li>We’re not quite there yet… </li></ul>
  57. 59. Trust in the Profession Our Plans - What can FPSC do? <ul><li>Partner with universities </li></ul><ul><li>Partner with allied professions </li></ul><ul><li>Focus promotion efforts on the FP value proposition </li></ul><ul><li>Focus more on employers </li></ul><ul><li>Better-align education and continuous professional development </li></ul>
  58. 60. FPSC and CFP Certification Changes Ahead <ul><li>Build and leverage external relationships </li></ul><ul><li>Attract new high quality candidates to the profession and develop students </li></ul><ul><li>Help to ensure appropriate support and development structures to help CFP professionals develop professionally and contribute to the growth of the profession </li></ul>
  59. 61. Evolution of the Profession Changes Ahead <ul><li>Develop government and regulatory relations </li></ul><ul><li>Enhance certification system and pathways </li></ul><ul><li>Enhance our governance structure </li></ul><ul><li>Hear more from you </li></ul>
  60. 62. Evolution of the Profession In Closing <ul><li>We can lead, but …. </li></ul><ul><ul><li>Professions are built from within </li></ul></ul><ul><li>Get involved </li></ul><ul><ul><li>With FPSC </li></ul></ul><ul><ul><li>With your association </li></ul></ul><ul><li>Believe </li></ul><ul><li>Our standards are your standards! </li></ul>
  61. 63. Thank You for Your Time and Patience … now let’s go step it up!

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