Financial planner
Practicing in full service personal finance, they advise clients on investments, insurance, tax, retirement and estate planning.
The ASIC website states that "Holding an AFS licence does not provide a guarantee of the probity or quality of the licensee's services.
"[4] There has been recent reforms to the licensing of financial advisors in Australia as a result of several scandals involving things such as inadequate or improper advice and fees charged to clients for no service.
All R.F.P.s must first demonstrate their competency, then abide by a code of ethics and adhere to rigorous practice standards as defined by the granting body, the Institute of Advanced Financial Planners (IAFP).
This Quebec title applies to a person who graduated from the Institut québécois de planification financière program and then supervised by a regulatory body authorized by provincial law: the Chambre de la sécurité financière, the Ordre des Administrateurs Agréés du Québec (in English: Order of Chartered Administrators of Quebec) or the Ordre professionnel des comptables professionnels agréés du Québec (in English: "Professional Order of Chartered Professional Accountants of Quebec").
In addition, the Professional Orders participating in the supervision of the title of “Financial Planner” have developed more extensive practice models comprising all the components of asset administration.
The generally recognized practice model of this profession normally excludes organizational-type financial planning (eg: companies, organizations, governments).
The IQPF establishes the rules relating to basic training to gain access to the title of Financial Planner.
In addition, the Professional Orders framing the Financial Planner title are responsible for the continuing education of their Pl.Fin members.
This presents, among other things, the seven areas of intervention of financial planning, namely the legal aspects, insurance and risk management, finances, taxation, investments, retirement as well as estates.
This ensures FA representatives and supervisors meet key performance indicators that are not related to sales, such as providing suitable product recommendations and making proper disclosure of material information to customers (Non-Sales KPI).
