How to Identify Registered Financial Planner in Calgary

 

Who is a Registered Financial Planner in Calgary

A registered financial planner in Calgary (RFP) is an individual who has been certified by the Canadian Securities Institute (CSI) as a member in good standing and who holds a Financial Planning Certificate or Financial Advisor Certificate or meets any one of the following criteria:

1. Has passed the CSI's six-hour exam;

2. Holds an appropriate designation from the provincial or territorial securities regulatory authority;

3. Is certified by a recognized professional organization such as the Association for Financial Counselors International;

4. Has provided specialized training to individuals with disabilities; or

5. Has demonstrated knowledge and expertise through experience that is substantiated by academic credentials, professional achievement, or other relevant factors.

To identify a registered investment adviser or financial planner, make sure they have the right credentials and are properly registered with the government.

You can also look for a registered financial planner in Calgary who is certified by the Financial Planning Standards Council (FPSC) as a Certified Financial Planner (CFP). The FPSC is an international organization that sets standards for the industry.

If you go to a website like www.certifiedfinancialplanner.org or www.cfitp.org/certification/cfo-programs, you'll see that there are several different certifications from which to choose:

Certified Financial Consultant (CFC): This certification qualifies you to work as a fee-only financial advisor or an investment advisory firm. CFOs must complete additional requirements before being licensed as an investment advisor or financial advisor in accordance with applicable state laws and regulations governing their profession (such as Continuing Education Units).

Certified Financial Services Salesperson (CFSP): The CFSP designation means that your company pays $1,000 per year in continuing education units toward your salesperson's continuing education requirements.

How Financial Planner Helps

Registered financial planner in Calgary help people plan for a comfortable retirement. They work with clients to set goals, understand their finances and find the best investments for their needs.

The term "financial planner" is used by some individuals and firms to describe a registered financial planner, but not all RFPs are financial professionals. In the United States, the Financial Planning Association (FPA) represents the interests of RFPs and has set minimum standards for becoming a licensed professional.

However, there is no legal requirement for registered financial planner in Calgary to be registered with ASIC. In fact, many are not. This means you can have a financial planner who doesn't hold a registration with ASIC, but is still able to offer you advice about your money.

You should make sure that the person you're talking to holds one of these:

Certificate III in Financial Services (Financial Investment Adviser) from the Association of Financial Advisers (AFA) — This is the highest level of accreditation and requires at least six months' experience in planning or managing an investment portfolio for clients with assets above $250 million.

Internationally recognised qualification — This could be a membership of the Institute of Financial Planners (IFP), which offers qualifications in financial planning and wealth management.