Additionally, existing Practice Standards were updated for clarity and relevance, based on feedback from a consultation process with a working group formed by the Standards Panel.
Damienne Lebrun-Reid, vice president Standards, Certification, and Enforcement at FP Canada and head of the FP Canada Standards Council highlighted the significance of these updates.
She noted that the changes support CFP and QAFP professionals in providing high-quality financial planning services and are in the public interest, with a focus on protecting vulnerable clients and avoiding conflicts of interest.
CFP and QAFP professionals are encouraged to review the updated standards to understand their obligations.
These standards, enforced by the Standards Council and maintained by a panel of Certified Financial Planner professionals, licensed financial planners from Québec, and public members, are designed to uphold high levels of competence, professionalism, and ethical conduct.