Education Program for the CLU Designation
The education program for the CLU is broken up into two separate parts. The first part consists of the Advocis Financial Planning Fundamentals Program for CLU® Certification. This program consists of 12 individual modules designed to provide a base of financial knowledge that is needed to proceed on to the more in depth CLU designation specific courses.
You may apply for “Recognition of External Designations” to be exempt from completion requirements for the Advocis Financial Planning Fundamentals Program for CLU® Certification if you hold one of the following professional qualifications in good standing: CFP, QAFP, F.Pl. (Pl.Fin), CFA, CPA (or equivalent). Click for details.
The second part of the education program for the CLU is the three CLU Designation Courses. The three CLU courses focus on the areas of advanced concepts in tax & law for personal planning, tax and legal principles for businesses and their owners, and advanced estate planning.
The Chartered Life Underwriter (CLU®) is an approved designation for use of the title Financial Planner in Ontario.
- Financial Planning Profession & Financial Services Industry Regulation – 911
- Financial Analysis – 912
- Credit and Debt – 913
- Registered Retirement Plans – 914
- Government Benefit Plans – 915
- Registered Education and Disability Plans – 916
- Economics – 917
- Investments – 918
- Taxation – 919
- Law – 920
- Insurance – 921
- Human Behaviour – 922
- Advanced Concepts in Tax & Law for Personal Planning – 255
- Tax & Legal Principles for Business and their Owners – 256
- Advanced Estate Planning – 257
Financial Planning Profession & Financial Services Industry Regulation – 911
Financial Services professionals are expected to possess knowledge that will instill and maintain the trust of Canadians, including the knowledge required to articulate their professional responsibilities as financial planning professionals; identify and explain the role of relevant regulatory and oversight bodies in securities and insurance; and explain the framework and regulations that are in place to protect Canadians from such threats as the insolvency of a financial institution, unwanted communications and financial abuse and scams.
Financial Analysis – 912
Financial Services professionals are expected to possess the knowledge that will allow them to clearly document, analyze, project and present financial information related to an individual’s goals, needs and priorities. Such knowledge will aid professionals to explain the time value of money; make financial projections to determine the achievability of goals; and evaluate how an individual’s current and projected cash flow—including that from their business—may impact their ability to meet their goals.
Credit and Debt – 913
Financial Services professionals are expected to possess the knowledge that will allow them to assess an individual’s credit worthiness and determine suitable credit facilities. They should also be able to determine optimal debt repayment strategies, including the impact that changes to strategies may have on the individual’s debt level, amortization, cash flow and ability to achieve their goals. In addition, they should be able to identify appropriate options and professionals who can help delinquent and insolvent debtors.
Registered Retirement Plans – 914
Financial Services professionals are expected to possess knowledge of the mechanics of registered retirement savings and income plans so that they may evaluate and recommend tax-efficient wealth accumulation and decumulation strategies that will aid individuals in reaching their retirement goals.
Government Benefit Plans – 915
Financial Services professionals are expected to possess detailed knowledge related to the eligibility for, benefits available, and factors to consider in evaluating decisions to apply for and commence benefits available to individuals through Canada’s government benefit programs (including the Canada Pension Plan, Old Age Security, Employment Insurance and the Canada Child Benefit). A high-level understanding of workers’ compensation and income assistance programs complements such knowledge and ensures that professionals are capable of competently advising individuals when they experience life events such as the birth of a child, unemployment, illness, disability and retirement.
Registered Education and Disability Plans – 916
Financial Services professionals are expected to possess expert knowledge of the intricacies of Registered Education Savings Plans (RESP) and Registered Disability Savings Plans (RDSP) so that they may evaluate and recommend optimal strategies to achieve education-related goals and goals for individuals with a disability.