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FPSC Report on Disciplinary Action: January to June 07 follows, and also is posted on FPSC's website with links to the page found on the Find a CFP Professional and the CFP Professionals in Good Standing sections. FPSC distributed the report to public and trade media outlets via a media release that is also posted on the website.
Report on Disciplinary Cases - January to June 2007
In accordance with FPSC's Disciplinary Rules and Procedures, all complaints made against CFP professionals are investigated by the Director, Ethics and where appropriate, referred to the Ethics and Practice Committee for a formal disciplinary hearing. This process helps to ensure protection of the public and protection of the reputation of the financial planning profession.
In each case, a Hearing Panel comprised of a member of the Ethics and Practice Committee and two additional volunteers from the CFP professional community is formed to hear the case and to make a determination of whether or not there has been a breach of the CFP Code of Ethics. Where there is a finding of a breach of the Code, a range of sanctions can be imposed on the CFP professional, up to and including the permanent revocation of the right to use the CFP marks.
Since the last disciplinary report, the following individual's right to use CFP marks has been permanently revoked:
Zarkadoulas, Anthony (Toronto, Ontario)
In June 2007, a Hearing Panel of the Ethics and Practice Committee issued a decision revoking Mr. Zarakadoulas' right to use the CFP marks, in accordance with a settlement agreement reached prior to hearing. In that agreement, Mr. Zarkadoulas admitted that he acted in breach of Rules 101, 102 and 601 of the CFP Code of Ethics. While employed as a Registered Representative in an IDA firm, Mr. Zarkadoulas improperly, and without authorization, transferred funds between unrelated client accounts. After the transfers were discovered, his employment was terminated. Subsequently, he sought employment with another firm and in the course of seeking registration with the new firm, provided misleading information to a regulatory body. Mr. Zarkadoulas' right to use the CFP marks has been permanently revoked.
The following individual has received admonishment and continues to hold the right to use the CFP marks:
Hadden, Stacy (Kelowna, British Columbia)
In June 2007, a Hearing Panel of the Ethics and Practice Committee issued a Letter of Admonishment to Ms. Hadden after she admitted as part of a settlement of the matter prior to hearing, that she was in breach of Rule 702 of the CFP Code of Ethics. Ms. Hadden had recommended and implemented a series of investments inside two RESP accounts that were subject to deferred sales charges and under the circumstances, such investments were not suitable for the clients. Ms. Hadden ag that she knew or should have known that such a strategy would likely result in the triggering of those charges at the time the funds were accessed for their intended educational funding purpose given the ages of the children involved. Ms. Hadden retained the right to use the CFP marks.
The August Feature Article of the Month winning author is Trisha MacLennan, CFP. In her article posted on FPSC's online Learning Centre, Trisha discusses options clients have when the time comes to dip into RRSP funds and reap the rewards of retirement. In addition to our heartfelt thanks, Trisha also receives $500 for her efforts.
You could be the next award-winning author. Submit your article on the September feature topic: "Empty Nest, Full Wallet? Making the financial adjustments when your chicks finally fly the coop," by September 5. And thinking ahead … thinking of Thanksgiving, send in your articles on how Canadians can spread some of their wealth and good fortune to those who have less. The October topic is "Planned Giving — making it work". Submit your article for selection as the October feature by September 21.
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Learning Centre is a public resource filled with words of wisdom offered by CFP professionals usually in the form of short relevant articles on topics relating to personal finance management. All articles submitted by CFP professionals on any relevant topic will be considered for publication on FPSC's website.
Please submit all articles to communications@fpsccanada.org with the subject line: Learning Centre Article. But before you do: read the Feature Article Submission Guidelines.
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Hearing these audio files is the next best thing to being there. If you couldn't make it to the Annual FPSC Board of Directors Reception held in Calgary this past June, you'll want to download the audio files of the opening address from FPSC Chair Cheryl Bauer Hyde, CFP, titled: "Stepping It Up in the Evolution of a Profession-in-the-Making." Also available are the addresses made by retired FPSC founding president Donald J. Johnston and this year's winner of the Donald J. Johnston Award for Outstanding Contribution to the Profession of Financial Planning in Canada, Alastair Rickard.
And although we couldn't get an audio file of it, we have posted the text of Cheryl Bauer Hyde's remarks made at the opening of the CIFPs conference a few days earlier. See FPSC comments for this address entitled: "Leaving Your Footprint on the landscape of a Profession-in-the-Making." It's inspiring.
Actuaries seeking CFP certification? Yes, they are, and they now may qualify to write the CFP Examination through FPSC's Approved Prior Credential (APC) Policy. "That actuaries are seeking ways to pursue CFP certification to complement their professional practice, is a welcomed acknowledgement of the unique set of competencies required in the professional practice of financial planning. FPSC's APC Policy recognizes the rigorous and complementary nature of the educational paths of allied professions," says FPSC president Cary List. Read all about it in FPSC's posted media release.
Financial Planning Connections is a quarterly online newsletter published by the Financial Planning Association (FPA) in the United States and made available to sister organizations worldwide. As a CFP professional in Canada, you may be interested in this sharing of information by the global financial planning community. Have a look at the current issue and e-mail FPSC Communications if you are interested in receiving this online newsletter quarterly.
"Why bother to get CFP attribution when you are being quoted in the media?" asks and answers Eileen Chadnick of Chadnick Communications in her new "Talking to the Media" posting on the CFP professionals discussion forum and she offers several answers. Eileen has been a member of the FPSC communications team for the past five years and, among several other things, has helped many of our brand ambassadors deliver the messages that bolster Canadians' understanding of the importance of financial planning and the value of engaging the services of a CFP professional. Read her postings and get talking about how to spread the word.
FPSC and CFP marks are sporting a new look. To go along with our Strategic Plan, available on the FPSC website and delivered to you in the last FPSC Bulletin, we've created a new look for our corporate brand. It's represented here in the new design of the E-Blast masthead. Above you'll see how, in one rendition of the new corporate logo, we connect the FPSC corporate brand with the CFP (with flame logo)® brand. Gradually, all our online and print materials are being re-designed to comply with our new graphic standards — because, just as it is in professional standards of competency and ethics, uniformity in graphic representation of a brand is a good thing. Included in the new standards is a new symbol for you to post on your websites as indication of a hyperlink to FPSC's website. If you already have a link to FPSC's website or would like to post one, e-mail us and we'll send you this new FPSC website symbol: 
You can also simply right click on the image and save it to your desktop so you have it when you need it.
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Directing your clients (and anyone else interested in what CFP certification and FPSC is all about) to the FPSC website is a great way to inform them of the value proposition of professional financial planning.
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Say Hello! Say Goodbye! Two new members of our communications team and one new Vice President, Standards & Certification are coming on board.
Heather Mills is our new Public Relations Specialist, filling the role formerly held by Heather Mills with whom many of you have worked on special communications projects and campaigns to do with media relations, corporate outreach and career recruitment. is opening a whole new chapter on her professional life. Having earned an M.Ed. from the University of Toronto, she is going on to help students with their studies at Ryerson University in Toronto.
Will O'Neill is our new Communications Specialist as of September 5, and will have particular duties with respect to the management of our current and new website now under development, among many others. He's our go-to guy with respect to all things online, taking on many of the responsibilities formerly held by Blake Glendenning, who also is entering a whole new phase of life or, looked at another way, is going back to his roots. Blake has moved back home to Bathurst, New Brunswick to be with family and to re-unite with old friends (and the beach). Thankfully, he's remained on board with FPSC as a consultant, helping us during the transition.
John Wicket is our new Vice President, Standards & Certification, filling one of the roles held by Cary List prior to his appointment to President & CEO of FPSC. John is no stranger to FPSC and the world of professional standards, having acted as a consultant to FPSC while with Assessment Strategies Inc. As a consultant to FPSC, John provided expert guidance in the areas of item development and design for the CFP Examination, establishing passing standards, score reporting and cheating analysis, among others. John was also the lead consultant on our Competency Analysis project that led to the CFP Professional Competency Profile. John has a PhD in psychology and psychometrics from the University of Western Ontario and has worked with many Canadian professional certifying and licensing bodies in helping them develop their licensure and certification programs, standards and policies. He has also assisted in designing tools to help effectively protect professions' integrity. John comes to FPSC directly from ClearPicture Corp., a corporate consulting firm, providing expert advice to corporate clients on various aspects of issues diagnosis and measurement techniques. John joins FPSC on September 4.
At A Glance — Ambassadors In The News: CFP professionals — you — are brand ambassadors for the profession and the community of CFP professionals. You continue to put your best foot forward in media interviews on a variety of topics, showcasing the breadth and depth of your expertise and knowledge to the benefit of your profession. Some of these opportunities were garnered directly by you and others were FPSC-generated. Some of the articles for which you've interviewed are yet to appear in print — but we're recognizing your efforts here.
Please continue to send us e-mails telling us of your participation in media interviews (outside of those we arrange) so we can acknowledge and celebrate your efforts as brand ambassadors.
Mark Halpern was interviewed by The Toronto Star
Mark Halpern was interviewed by Advisor.ca (travel insurance).
Graeme McPhaden, Suchetta Ragajopol, Mark Halpern and Frank Wiginton appeared on Business News Network's Portfolio Builder show (various topics).
Ivan Chang was interviewed by Vancouver Sun (role of executor).
Suchetta Rajagopal was interviewed by Advisor.ca (Socially Responsible Investing).
Tina Tehranchian and Mark Halpern were interviewed by Advisor.ca (insurance and estate planning client conversations).
Jeanette Brox and Paul Way were interviewed by CBC Radio Syndicate with 8 stations participating (interest rates — implications on Canadians).
Peter Andreana and Jeanette Brox were interviewed by Investment Executive (financial planning for young people).
Anthony Windeyer was featured in an article in the Vancouver Sun which also ran in National Post and additional Canwest papers (buying a cottage — planning implications).
Kevin Gebert was featured in an article by Vancouver Sun (RRSP planning — starting young).
Michael Thorne was featured in an article that initially ran in Vancouver Sun and was picked up by Saskatoon Pheonix and other papers (retired parents need plan to help kids by house).
Cary List, President and CEO, was interviewed by Investment Executive for its Account Manager Report Card (CFP designation at the banks).
Cary List was interviewed by Bottom Line for an upcoming article (his appointment to CEO at FPSC).
Cary List was interviewed by Advisor.ca (Actuaries now eligible to write CFP Exam — based on Approved Prior Credential policy).
FPSC was profiled — with DJJ Award recipient, Al Rickard — in: Investment Executive (online), Advisor.ca, Kitchener Waterloo Record, Elmira Independent and in the Insurance Journal.
FPSC's made the move and our new address is: 902-375 University Avenue, Toronto ON, M5G 2J5. Our phone numbers stay the same. We've told you about our change in contact information — now make sure you tell us about yours. Update your personal profile at FPSC Online Services. It's your responsibility to keep this information current.
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