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The path to the CFP certification and new Routes to CFP Certification is changing, says the Financial Planning Standards Council.

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Starting July 1, FPSC will replace the FPSC Registered Candidate program with the FPSC Level 1 Certification in Financial Planning. The change lets people who are working in roles that offer financial planning strategies or solutions to clients with less-complex financial planning needs—but who have limited or no professional financial planning qualifications—pursue this pre-certification qualification.

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About 1,200 FPSC registered candidates will automatically become FPSC Level 1 Certificants in Financial Planning.  As before, those certified will attest to the standard of care, ethics and loyalty required of CFP professionals.  What’s new is that they’ll have to take continuing education courses for their certification. The courses will start in 2015.

There is no time limit for remaining an FPSC Level 1 certificant if all requirements are maintained and renewed annually. But time limits for continuing on to CFP certification are still in force.

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FPSC will also introduce new Routes to CFP Certification that offer exemptions for individuals who already hold relevant financial-planning-related or professional qualifications. These exemptions will streamline the path to CFP certification for those with prior qualifications.

More information is available here.

Originally published on Advisor.ca

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