The report underscores the Standards Council's continued role in setting, maintaining, and enforcing standards for CFP® professionals and QAFP® professionals across Canada, in the public interest.

TORONTO, May 27, 2026 /CNW/ - The FP Canada Standards Council has released its 2025 report, which provides an overview of activities and initiatives for 2025. The Standards Council, a division of FP Canada™, sets the certification requirements for CERTIFIED FINANCIAL PLANNER® professionals and QUALIFIED ASSOCIATE FINANCIAL PLANNER™ professionals in Canada. It also establishes and enforces financial planning standards in the public interest.

The report outlines complaint and disciplinary activity in 2025, along with updates on trends observed by the enforcement department and the independent panels that support the Standards Council, including the Conduct Review Panel. It also highlights key developments related to professional standards, guidance, and certification.

Here are a few key highlights of the Standards Council's activities in 2025:

• Definition of a Financial Plan: In December 2025, the Standards Panel published new guidance, The Financial Planning Process: Definition of a Financial Plan, introducing a clear, principles-based definition of a financial plan. This guidance establishes a common minimum standard for financial planning engagements and provides Canadians with greater clarity about what they can expect when working with a professional financial planner.
• Practice Guidance: The Standards Panel published guidance for CFP professionals, QAFP professionals, and members of the public to support transparency and professionalism, including guidance on terms of engagement documents. In addition, the Standards Council issued a Staff Bulletin providing guidance on the use of Generative AI ("GenAI"), to help professionals leverage emerging technologies while reinforcing the importance of professional judgment and client trust.
• Competency Profile Review: The Standards Council initiated a review of the FP Canada Standards Council Competency Profile for QAFP Certification, with a focus on ensuring the Competency Profile is aligned with the day-to-day work of practicing QAFP professionals.
• Continuing Education (CE) Updates: As part of its efforts to enhance quality and consistency, FP Canada streamlined its CE credit categories effective January 2025. In addition, updated guidance for third-party providers was released with respect to the CE accreditation process. The volume of CE activities accredited through the FP Canada CE accreditation program continued to grow throughout the year.

"In 2025, the FP Canada Standards Council continued to advance financial planning standards and guidance to reflect a changing professional landscape," said Damienne Lebrun-Reid, General Counsel and Head of the FP Canada Standards Council. "Providing clarity on expectations—whether through updated guidance, competency reviews, or oversight activities—supports professional financial planners in delivering consistent and client-centred financial planning advice and services in the public interest, reinforcing public trust in the profession."

View the full Standards Council 2025 Report on the FP Canada website.

About FP Canada

Established in 1995, FP Canada is a national not-for-profit education, certification and professional oversight organization working in the public interest. FP Canada is dedicated to championing better financial wellness for all Canadians by leading the advancement of professional financial planning in Canada.

About the FP Canada Standards Council

A division of FP Canada, the FP Canada Standards Council establishes and enforces financial planning standards, sets the certification requirements for professional financial planners and develops and delivers certification exams. The FP Canada Standards Council ensures that professionals certified by FP Canada—CERTIFIED FINANCIAL PLANNER professionals and QUALIFIED ASSOCIATE FINANANCIAL PLANNER professionals—meet appropriate standards of competence and professionalism through requirements of education, exam, experience, and ethics.

SOURCE FP Canada