It worries me that anyone in Canada, outside of Quebec, can call themselves a financial planner without any demonstrated knowledge, skills or abilities.
Just imagine if anyone was allowed to call themselves a medical doctor and treat patients. Granted, financial planning is not life and death like medicine, but substandard or unethical planning can have a devastating effect on your emotional and financial health.
That’s why, when someone asks me “What is a financial planner?”, I’m very reluctant to respond, “Someone who plans your finances.” Because the definition should be so much more.
The Financial Planning Standards Council (FPSC) and the Institut québécois de planification financière (IQPF), the two groups that established and maintain standards for the financial planning profession in Canada, created a definition for what a financial planner should be. This means that when you use a CERTIFIED FINANCIAL PLANNER® professional, you’re getting a qualified professional who’s skilled and experienced. The CFP® designation is recognized internationally for excellence in financial planning.
I not only believe that having a qualified financial planner is an absolute must for most people, I think that your choice of planner is one of the most important decisions that you’ll ever make.
Please watch 10 questions to ask your financial planner, where I offer questions to help you interview and evaluate financial planners to find a qualified one who’s a good fit for you, and who has the skills and knowledge required to help you realize your financial goals.
Mutual funds are offered through Investia Financial Services Inc.
Insurance solutions provided in Ontario and New Brunswick, through Heidi Blondin Financial / Qualified Financial Services.
The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice, in the context of your particular circumstances. This article was prepared by Heidi Blondin who is a Certified Financial Planner® (CFP) at Heidi Blondin Financial a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc. The information contained in this presentation comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability.