FPSB Certification Standards
Standards To Support Financial Planner Professionalism
The concept of financial planning as a distinct professional practice started in the United States in the early 1970s with the introduction of the CERTIFIED FINANCIAL PLANNER certification program. Since then, the global financial planning community has grown to encompass practitioners around the world who work in many disciplines, including banking, insurance, independent advisory services, securities, tax and law. Within those sectors, financial planning professionals work in a variety of capacities and in organizations that range from boutique practices to multi-national firms employing thousands.
The practice of financial planning has not only grown significantly since its beginnings – it has had to change and adapt as the needs of consumers in various territories and regions change; as products, markets and regulatory/legislative environments evolve; and as financial planners develop new approaches and solutions to help their clients reach their financial and life goals.
In response, FPSB has a global financial planning standards framework that includes:
Competency and Education Standards
that describe the abilities, skills, attitudes, judgments and knowledge that a financial planning professional draws on when working with clients in financial planning engagements.
that provide guidance to financial planning professionals on appropriate and acceptable professional behavior and judgment when delivering financial planning advice to clients, as well as responsibilities to the public, clients, colleagues, employers and the profession.
that establish the level of practice expected of a financial planning professional engaged in the delivery of financial planning to a client; establish norms of professional practice and allow for consistent delivery of financial planning by financial planning professionals; and clarify the respective roles and responsibilities of financial planning professionals and their clients in financial planning engagements.