What does CFP mean in AWARDS & MEDALS

A Canadian Financial Professional (CFP) is an individual who specializes in financial and estate planning, retirement income planning and similar money matters. CFPs are highly trained and certified professionals who abide by rigorous ethical standards to provide financial advice that is in the best interests of their clients.

To obtain a CFP designation, you need to meet several criteria including education, experience and examination requirements. You must first complete the required coursework from an approved program and then pass the CFP Certification Examination administered by the Financial Planning Standards Council. You must also have at least three years of verifiable financial planning experience before applying for certification.

Services provided by Certified Financial Professionals vary depending on each individual's practice, but generally include comprehensive financial plans; retirement income strategies; estate planning strategies; debt management advice; investments management strategies; tax-savings strategies; insurance needs analysis and recommendations; education savings strategies; business succession or transfer plans, among others.

The benefit of using a Certified Financial Professional is that you will have access to someone with specialized knowledge, who can evaluate your individual goals and provide unbiased experienced advice tailored to your specific needs. A professional understands how all aspects of personal finance work together such as investments, insurance policies, taxes and retirement plans.

When working with a CFP, you can expect a personalized plan based on your objectives and situation. Your financial goals should be discussed at length so that your plan reflects what you want out of life financially. Your advisor should also be able to answer any questions you may have regarding various products or services they recommend to meet your objectives.

The cost of hiring a Certified Financial Professional varies depending on the individual's practice as well as factors such as complexity of service provided, level of experience and geographical location. Generally speaking though, advisors may charge an hourly rate or flat fee for their services which may range from $100 - $400/hour or more depending on the circumstances.

When selecting someone to help you manage your finances, it's important to find someone trustworthy with whom you feel comfortable communicating openly about sensitive topics such as money management or investment decisions. Check their credentials to ensure they are indeed qualified — this includes going through their references or talking directly to other clients if possible —and ensure they adhere strictly to industry codes of ethics regarding conflict-of-interest avoidance guidelines amongst other regulations.

Yes! It is important that your CFP is associated with organizations like FPSC which stands for “Financial Planning Standards Council” as this ensures that they adhere strictly to industry codes of ethics regarding conflict-of-interest avoidance guidelines amongst other regulations which safeguard their clients' interests at all times.

Working with a Canadian financial planner can help increase clarity around long term goals while creating greater peace-of-mind around achieving those goals because it provides structure on how best to maximize resources through budgeting effective planning schemes leading towards greater satisfaction in life.