Stepping it Up - A Message from the President and CEO
Our burgeoning profession is in for exciting times ahead. We've just launched our new strategic plan and corresponding business plan as the new face of FPSC begins to take shape. A new face doesn't however mean a new soul. The plans that you will see unfolding in the months and years ahead build on the principles that have been the source of the CFP's success over the past ten years; we will continue to be guided by those same principles as we step up our efforts. Our mission remains to serve the public interest through the development, enforcement and promotion of the highest competency and ethical standards in financial planning as defined by CFP professionals.
We will continue to focus on increasing the understanding of the value of financial planning, not only within our own CFP community, but within the broader industry and with the public; and we will ensure that through our unique mandate of public interest and as leaders in standards development and certification we continue to lead the financial planning profession through its next stage of evolution.
While our core principles have not changed, you may notice some subtle changes in focus at FPSC. We will work hard to build and leverage relationships with all stakeholders; we will focus on new, creative ways to attract new high quality candidates to the profession; we will make sure our decisions are based on quality research and we will work to ensure that the appropriate support and development structures are in place to help CFP professionals develop professionally.
While professions are built on evolution, not revolution, you will see a number of new initiatives in the months and years ahead that serve to ensure that the profession continues to further establish itself. We will continue to keep you posted on these efforts through our current print and electronic communications. Watch for a copy of our new strategic plan in the upcoming FPSC Bulletin at the end of June and for notice of informal visits to your community this fall by incoming Board Chair Cheryl Bauer Hyde and me as we travel the country to meet with as many of you as possible. I look forward to meeting many of you then. In the meantime, I hope you enjoy the summer.
Cary List CA, CFP
1. Alastair Rickard Named 2007 Donald J. Johnston Award Recipient
Mr. Alastair Rickard, AVP, Government & Industry Relations for Sun Life Assurance Company of Canada, past FPSC Board Chair and a 30-year veteran of the financial services industry, is the 2007 recipient of the Donald J. Johnston Award for Outstanding Contribution to the Profession of Financial Planning in Canada. FPSC is honouring Mr. Rickard at its Board Reception in Calgary, AB, on June 14th. Visit the Donald J. Johnston Award section of our website for more information.
2. Talking to the Media - How to Build that Win/Win Relationship
Is media relations part of your marketing mix? Does the media call on you to comment and provide expertise for their stories? Satisfied with the outcome? Mystified by the process? Wondering how you can better leverage media interview opportunities to distinguish yourself as a CFP professional and promote the value of your expertise and services?
If you answered yes to any of these questions or if you would like to add media relations to your marketing mix sometime soon, the Talking to the Media - How to Build that Win/Win Relationshipdiscussion forum is the place to go. To help CFP professionals share ideas with their colleagues, FPSC facilitates a password-protected online discussion forum for CFP professionals at www.cfp-ca.org.
Beginning June 5, join Eileen Chadnick of Chadnick Communications, media relations consultant to FPSC since 2002, in a discussion on how to build effective media relationships to garner meaningful coverage and profile for you and your CFP community.
Bring your questions and your own media experience to the discussion!
Here are just a few things you might consider asking Eileen about:
What are the most important attributes that media look for in their sources?
How do I manage the risk of being misquoted?
What can/should I do when asked a sensitive question?
Visited our Discussion Forums recently? If so, you will have noticed our new open discussion forum where different audiences - CFP professionals, students, members of the public, etc. - can interact on an open and anonymous forum.
3. Call for CFP Professionals to Participate in a University Study About "Risk"
Dr. Patrick Parnaby, Assistant Professor at the University of Guelph, is looking for CFP professionals to participate in a study exploring how "people understand and communicate about risk as it pertains to investments and insurance." The study is part of a larger research project designed to evaluate how Canadians talk about risk under different circumstances. Specifically, it is intended to explore how certain kinds of risks are understood and talked about in everyday life, whether they be financial risks, health risks, or risks to our physical well-being.
If you think you might be interested in participating in this study, here are the details.
Watch for the next edition of FPSC Bulletin in your mailbox in late June. Included in the mailing is a copy of FPSC's new Strategic Plan.
4. Financial Planning Shows Explosive International Growth
Investment News, an American online journal for financial advisors, recently published an article detailing the international growth of the financial planning profession.Read the article.
5. Licensing Reminder
The CFP licensing period is from April 1st to March 31st and in order for you to use the CFP marks, you must renew annually. If you have not submitted the 2007/2008 Application for CFP Licence Renewal, you can still renew online or print a copy of the renewal application by going to www.cfp-ca.org/licensees/licensees_welcome.asp. If you do not wish to renew, you must advise us in writing and immediately relinquish all rights to use the CFP credential and related trademarks on letterhead, business cards, personal stationeries, etc. Visit our website for the current FPSC Licensing Policies.
If you would like to update your personal or professional profile, you may do so by using FPSC's Online Services. It is the responsibility of all CFP professionals to ensure their personal contact information is accurate and up-to-date.
6. Investment Executive Money Planner
FPSC has negotiated a deal with Investment Executive for you to purchase personalized copies of their Money Planner issue. Use the special order form to get the FPSC rate. The Money Planner will focus on "Trigger Points," events that cause or should cause a client to re-examine his or her financial affairs - events such as the birth of a child, starting a business, retirement, divorce, second marriage, etc. And of course, the Money Planner will once again reinforce the need for a financial professional. The magazine hits newsstands in early September 2007.
7. Attend FPA Seattle 2007 at the Member Rate
From September 8-11, FPA Seattle 2007 will bring together professionals from over 20 countries for three days of intensive workshops, continuing education and invaluable professional networking. For a complete program listing, CE information, local area information, online registration and everything you need to know to take you to the FPA Seattle 2007 conference, visit www.FPAAnnualConvention.org.
As a CFP® professional, you are welcome to attend Seattle 2007 at the member rate. To take advantage of this promotion, enter INTL01 in the member ID field when registering online or note it on your faxed in registration form. The early bird registration deadline is July 20 - be sure to register early to save $200US.
8. Financial Planning Connections
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.
9. Conferences & Seminars Posted
We list third-party events on the FPSC website that may satisfy some of your Continuing Education requirements. The Event and Seminar Calendar is updated regularly so check back often. If you know of events not listed that may be of interest to your colleagues, e-mail us at communications@cfp-ca.org.
10. Feature Article of the Month for online Learning Centre
Learning Centre, FPSC's online resource for consumers seeking relevant and unbiased information on financial planning, includes articles submitted by CFP professionals. Each month we choose one article on a specified topic to be the "Feature Article of the Month."
We're looking for you to submit articles on Life Insurance - How to make sure you get what's best for you for the July Feature Article. Submit articles by Friday, June 22nd.
In August, give us your wisdom on managing funds in retirement with an article entitled, Ready to Retire and Collapse Your RRSP? What to do With the Money. Submit articles for the August Feature by Friday, July 20th.
Learning Centre resources include: articles; a digest of books; links to other useful financial planning-related websites; financial planning self test; ask an expert; event and seminar calendar; educating youth; and consumer brochures - it's a great place to direct your clients.
In the June Feature Article, Investing in Real Estate, Hisham Elleithy CFP offers up some advice and tips about real estate as an investment. "Just like any other investment, your financial goals, your finances, your risk tolerance and your need for liquidity will be significant factors to consider when making real estate investment decisions."
11. The Public Face of Our Brand: We're Out There 'Spreading the Word'
Thank you CFP professionals who volunteer time to complete FPSC brand ambassador training and to participate in our branding campaigns.
Here are a few of the ways we're all spreading the word:
Promoting CFP Certification
Carolyn Fallis CA, CFP , FPSC Director, Professional & Student Affairs, spoke to about 60 professionals from Desjardins Financial on April 27 at the Desjardins Financial Security Ontario Central Regional Meeting. And on Wednesday May 9, Carolyn gave a presentation in London, ON, to the Entrepreneurial CAs of London. About 50 CAs attended.
On April 19-20, FPSC Public Relations Specialist Heather Mills provided information to business teachers about our financial planning resources for youth and the career opportunities for students in financial planning at the Ontario Business Educator's Association (OBEA) Conference in Toronto.
"Speaking of Money"
CFP professionals spoke to audiences about the merits of financial planning at several events during April and May as part of our 'Speaking of Money' initiative.
On April 20, CFP professionals Jim Hughes, John De Goey and Jeanette Brox,participated in a panel discussion (What is financial planning?) for business teachers at the Ontario Business Educator's Association (OBEA) Conference in Toronto.
On May 16, Peter Andreana CFP spoke to recent graduates about financial planning and money management as part of a University of Toronto Alumni Relations event.
Educating Youth
Upon request, FPSC arranges for CFP professionals to go into secondary school classrooms to talk about various aspects of financial planning and money matters.
On May 2 at O'Neill Collegiate Vocational Institute in Oshawa, ON, John Hughes CFP provided an introduction to financial planning to a Grade 10 class.
CFP Professionals in the News
CFP professionals continue to showcase the breadth and depth of the CFP community's expertise and knowledge. Whether it is in print, on radio or television, CFP professionals over the past two months have provided expert commentary on financial planning related topics covered in the mass media.
Here are the highlights of the media coverage:
Advisor.ca
Jeanette Brox
CFP professionals doing financial planning with children of their HNW clients. Ross Young
Foreign currency trading. Hugh Smilestone
Financial planning considerations for buying a cottage. Al Nagy
Explaining risk to clients. David Burnie
Alternative ways to give to charity.
Doug Lamb and Rita Mathers
Divorce and financial planning.
Toronto Star
Scott Plaskett
Fixed and variable mortgages.
Mark Halpern
Insurance (Ellen Roseman's Money 401 series).
Vancouver Sun
Anthony Windeyer
Financial planning considerations of buying a cottage.
FPSC in the News
Members of FPSC staff are also in the news, commenting on CFP certification and the financial planning profession.
FPSC's Cary List was interviewed by Advisor.ca about his appointment to President and CEO of FPSC. An article about this was also published on investmentexecutive.com.
Please continue to tell us of your participation in media interviews (outside of those we arrange) so we can acknowledge your efforts and celebrate your success.
The CFP credential after your name shows your commitment to professionalism in financial planning. You worked hard for it, so make sure it is given the proper attribution, whether it is in an article or in your e-mail signature — wherever your name appears.
CFP®, CERTIFIED FINANCIAL PLANNER® and are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. (FPSB). Financial Planners Standards Council is the marks licensing authority for the CFP marks in Canada, through agreement with FPSB.
are certification marks