Nearly 1,000 sit June CFP exam

The number of Certified Financial Planners in Canada is set to rise by almost 400, following the June sitting of the CFP exam, according to the Financial Planners Standards Council.

There were 985 people writing the exam on June 9, with 397 passing. The pass rate for those writing the exam for the first time was slightly higher than the overall pass rate, at 46.3%, compared to 40.3%.

“The individuals who pass the CFP Examination have proven they have the knowledge and skills required to serve the best interests of their clients,” says FPSC President and CEO Cary List. “FPSC’s standards of competency for CFP professionals remain high, as what’s at stake is the financial welfare and trust of an increasing number of Canadians seeking their help.”

The FPSC will publish a list of the successful CFP candidates in The Globe and Mail on September 6. The six-hour CFP Examination is administered in both official languages twice a year. The June examination was held in 57 centres across Canada.

The next scheduled CFP Examination is on Saturday, November 17, 2007. Registration closes on October 17, 2006. Examination information and applications are available at www.cfp-ca.org.

To be eligible to write the exam, candidates must complete educational requirements set by FPSC, which are available at over 70 institutions, including colleges and universities. Certain professionals are exempt from the educational requirements and may write the exam, provided they have at least three years career experience.

Filed by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com