Institut québécois de planification financière (IQPF) and Financial Planning Standards Council (FPSC) have formed a strategic partnership that they say will let both organizations lay the groundwork for a unified Canada-wide financial planning profession.
Under the agreement, IQPF will become a Proud Partner of FP Canada (FPSC will be renamed FP Canada as of April 1, 2019). The two organizations will work together to advance professional financial planning, for the benefit of Canadians.
The two partners believe that financial planning must become a profession to better serve the needs of consumers. To achieve this objective, organizations that work on developing the profession must join forces. “FPSC’s creation of FP Canada and its shared goals with IQPF make this partnership between us a natural fit,” says Julie Raîche, IQPF’s Board Chair. Under this partnership, IQPF and Financial Planners in Quebec will participate in the governance of FP Canada, to further unify standards. They will also establish a coordinated voice for the financial planning profession across the country.
The two organizations recognize provincial jurisdiction over professions in Canada. “IQPF’s participation as a Proud Partner of FP Canada will not only benefit Financial Planners from coast to coast, but also the financial services industry and its collective stakeholders, and most importantly, the Canadian public, by providing the harmonization needed to establish a cohesive Canada-wide financial planning profession,” says Dan Busi, FPSC’s Board Chair.
The partnership foresees the creation of a joint strategy committee. This committee will design a formal mechanism for establishing a truly national strategy, aimed at creating a stronger Canada-wide profession. Under the agreement, FP Canada will operate in both official languages as much as possible. Notably, it will provide a bilingual website.