Two Credentialing Bodies Approved for Financial Planner and Financial Advisor Title Use in Ontario

The Financial Services Regulatory Authority of Ontario (FSRA) has approved FP Canada and the Institute for Advanced Financial Education (IAFE)a subsidiary of Advocis, as the first two credentialing bodies for Financial Planner and Financial Advisor title use in Ontario. These approved credentialing bodies have the authority to grant FSRA-approved credentials that permit individuals to use these titles.

“Officially being able to use the Financial Planner or Financial Advisor title will make it easier for these individuals to communicate their value to consumers and validate their education and expertise,” said Huston Loke, Executive Vice President, Market Conduct at FSRA. “Consumers will also have confidence that the individual they are dealing with has a minimum standard of education, is being actively supervised and is subject to a complaints and discipline process.”

FSRA-approved credentialing bodies are responsible for overseeing and enforcing the conduct of their Financial Planner or Financial Advisor credential holders. FSRA requires credentialing bodies to have robust supervision processes and a code of conduct that requires credential holders to put the client’s interest first and ensures the fair treatment of consumers.

“FP Canada welcomes the approval by FSRA as a credentialing body to grant and oversee Financial Planner title use. CERTIFIED FINANCIAL PLANNER® certification and QUALIFIED ASSOCIATE FINANCIAL PLANNER™ certification offer excellent opportunities for those interested in a career in financial planning to develop the skills and competencies to best serve the needs of all Canadians,” said Tashia Batstone, President & CEO, FP Canada. “As a professional body working in the public interest, we strongly support the Financial Professionals Title Protection Act and the benefits it brings to consumers in the form of increased clarity and confidence. We look forward to working with FSRA under this important new framework.”

“We are pleased that our subsidiary – the Institute for Advanced Financial Education – has been approved as a credentialing body and look forward to playing an active role in raising the professional bar in Ontario,” said Greg Pollock, President & CEO of Advocis, The Financial Advisors Association of Canada. “We’d also like to thank the Government of Ontario and the Financial Services Regulatory Authority of Ontario for recognizing the importance of title protection and taking the necessary first steps in better protecting consumers. We hope to see other provinces follow their lead.”

Learn More:

  • A list of approved credentialing bodies and their approved credentials can be found on FSRA’s Financial Planners and Financial Advisors industry page. FSRA is actively reviewing applications and will announce additional credentialing bodies and their designations as they become approved
  • FSRA is committed to providing ongoing and regular updates to facilitate the successful implementation of the Financial Professionals Title Protection Framework. As this initiative will be phased in over time, more details, please visit the Financial Planners and Financial Advisors transition page
  • FSRA will host a webinar on April 21, 2022, to provide details and answer questions on the Financial Professionals Title Protection Framework in Ontario. All interested stakeholders are welcome to attend. Event details, including a link to register, will be sent to those who have subscribed to FSRA’s Financial Planner/Financial Advisor updates and posted on FSRA’s Events page.
  • FSRA welcomes existing professional / designation bodies to apply as credentialing bodies under the framework.

FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.

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By The Financial Services Regulatory Authority of Ontario (FSRA)