Amid confusion about advisors’ titles and a move toward greater title transparency, there’s one that might prove more familiar to Canadians: certified financial planner.

Read: Ontario ‘working closely’ with SROs on titles reform

That’s because 85% of Canadians with financial planners say they know “for a fact” that their advisors are CFPs, reveals a survey commissioned by the Financial Planning Standards Council (FPSC).

However, it’s not clear whether these Canadians sought out CFPs or whether their advisors made them aware of the credential. Overall, fewer than half of Canadians polled (47%) knew whether or not their advisors were CFPs.

The survey also finds that clients using CFPs are more likely to have financial plans than those not using CFPs (77% versus 43%). Further, such clients are more likely to agree that their financial futures are under control (75% versus 43%).

For more details, read the full survey.

About the survey: 1,527 Canadians from Leger’s online panel, LegerWeb, completed an online survey between July 31 to August 3, 2017.

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