And then there were four.
The Canadian Institute of Financial Planning (CIFP) is the latest credentialing body approved to grant and oversee financial advisor and planner titles in Ontario.
Those with the registered financial and retirement advisor (RFRA) and registered retirement analyst (RRA) designations are permitted to call themselves financial advisors, the Financial Services Regulatory Authority of Ontario (FSRA) said Wednesday.
Planners with the registered retirement consultant (RRC) designation can use the financial planner title in Ontario.
The CIFP is the fourth credentialing body approved under the province’s title protection regime, which came into force at the end of March.
The RFRA and RRA bring the number of approved credentials for the advisor title to three. The other one is the Institute for Advanced Financial Education’s (IAFE) professional financial advisor (PFA) designation.
For planners, the RRC is the fifth designation approved, following FP Canada’s certified financial planner (CFP) and qualified associate financial planner (QAFP) designations, the IAFE’s chartered life underwriter (CLU) designation and the Canadian Securities Institute’s personal financial planner (PFP) designation.