Financial Planning Competency Handbook, 2nd Edition

CHAPTER 80 Financial Planning Standards Board

Michael Snowdon, CFP^®

Financial Planning Standards Board

INTRODUCTION

Financial Planning Standards Board (FPSB) is a global, non-profit, professional standards-setting body for financial planning. FPSB is also the international owner of the CERTIFIED FINANCIAL PLANNER™ and CFP marks.¹ Certified Financial Planner Board of Standards, Inc., owns the certification marks CFP^® and Certified Financial Planner™ in the United States. FPSB’s vision is to establish financial planning as a global profession and the CFP^® marks as the symbol or excellence in financial planning. The organization’s mission is to benefit the global community by establishing, upholding, and promoting worldwide professional standards in financial planning.

Founded in 2004, FPSB is firmly established in the international CFP professional community, but it was not always so. In fact, a little more than 10 years ago, FPSB was still a dream in the minds of those who could envision its future value. The purpose of this chapter is to discuss the history of FPSB, many of the requirements for participating territories, as well as how some of those requirements are similar to those of the CFP Board in the United States.

Beginnings

As the financial planning and advising industry grew in the United States, financial advisors from other countries were taking note of the young profession and the value of the CFP certification. In 1985, the College for Financial Planning, based ...