Advisors make the CFP grade

The results are in for the first ever sitting of the Financial Planning Examination Level 1 (FPE1), as the Financial Planning Standards Council announced a 76% pass rate for Canadian candidates. Of the 455 Canadians who wrote the FPE1 exam, 346 passed.

Those who were successful are now eligible to become FPSC Registered Candidates, an important step on their path to CFP certification.

Changes to the CFP certification program came into effect on Canada Day of last year. The program now includes an additional Capstone Course requirement and a two-staged examination process (Financial Planning Examination Level 1 and Level 2), which replaces the single six-hour CFP Examination.

In order to remain eligible for CFP certification, candidates who have successfully passed FPE1 must become Registered Candidates with FPSC and maintain continuous registration until they attain CFP certification.

This annual registration process includes agreeing to adhere to the CFP Code of Ethics and CFP Financial Planning Practice Standards established by FPSC.