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CFP professionals recognised for valuable advice

24 Nov 2010
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Certified Financial Planner® (CFP®) professionals continue to be recognised as the preferred source of financial advice.

According to research commissioned by the Financial Planning Standards Council (FPSC) in Canada, consumers who have engaged in comprehensive, integrated financial planning from Certified Financial Planner® professionals were significantly more optimistic about their personal wellbeing compared with those who have not.

The Value of Financial Planning report shows that 83% of Canadians with a comprehensive financial plan feel in control of their finances.

The research also revealed that 61 per cent of individuals who engaged in comprehensive, integrated financial planning felt confident that they will be satisfied with their financial situation in retirement, as compared with 27 per cent with no financial planning and 46 per cent who had engaged in only limited advice.

More than 7,300 people were surveyed in the independently conducted, five-year longitudinal study.

President and CEO of FPSC, Cary List said the report highlighted the importance and great benefits of seeking financial advice from a trusted professional.

“Never before has there been such concrete, empirical evidence confirming the value proposition of comprehensive, integrated financial planning, and its impact on people’s confidence in achieving life goals and managing difficult times,” said Mr List.

“These results further underscore how comprehensive, integrated financial planning is salient for one’s financial and emotional wellbeing – not just in the good times, but particularly through the tougher times.

“This is a global trend we’re seeing. More needs to be done by governments and industry world-wide to ensure more consumers seek valuable financial advice.”

“This research once again confirms the valuable role Financial Planners play in the financial well being of Australians.”  Mr Mark Rantall, CEO of the Financial Planning Association of Australia said.

Cary List will be discussing the results of this study at the FPA’s 2010 National Conference, Your Wavelength, on the Gold Coast from the 24-26 November. It will be a part of Masterclass 5 – “What’s My Value Proposition” at 11.35am on Friday 26 in Rooms 5 & 6.

Mr List will also speak on the inherent value of the CFP® professional/client relationship.

The National Conference, which is the largest annual gathering of financial planners and licensees in the Asia Pacific region, will be held at the Gold Coast Convention & Exhibition Centre.

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