financial planning’s international standard
TRANSCRIPT
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Financial Planning’s International Standard
Nicolas KoechlinCEO SFPO
Swiss Financial Planners Organization
ICFC Certified Financial Consultants / “Capital”Bulgarian National Bank
Financial Supervisory CommissionVEGA-BTD, Bulgaria
Conference, October 14, 2005
CFP Board owns the CFP certification mark. Swiss Financial Planners Organization (SFPO) has exclusive authority in Switzerland to certify individuals who successfully
complete initial and ongoing certification requirements.
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1996New Zealand
1996Canada
1995United Kingdom
Financial PlannersStandards CouncilFPSC
Financial Planners and Insurance Advisers Association FPIA
Institute ofFinancial PlanningIFP
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1998 South Africa
1998 Singapore
Financial Planning Institute of South AfricaFPI
Financial Planning Association of Singapore FPAS
1999Switzerland
Swiss Financial PlannersOrganizationSFPO
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2000Malaysia
Financial Planning Associationof MalaysiaFPAM
2000Rep. of Korea
Korea Financial PlannerAssociationKFPA
2000Hong Kong
Institute of Financial Planners of Hong KongIFPHK
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2001India
Association of Financial PlannersAFP
2002Austria
Austrian Financial PlannersAFP
2002Brazil
Instituto Brasileiro de Certificação de Professionais FinanceirosIBCPF
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Associate Members
BELGIUMAssociation belge des Conseillers en Planification globale
de patrimoineBelgische Vereniging van Adviseurs in globale
Vermogensplanning(ACP-VAV)
BERMUDAFinancial Planning Association of Bermuda (FPAB)
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Potential AffiliatesAsia Pacific– Brunei – China– Indonesia – Thailand– Macau– Philippines
Caribbean– Barbados
Middle East– Egypt– Israel– Saudi Arabia– United Arab Emirates
Euro Zone– Greece– Ireland– Italy– The Netherlands– Poland– Spain– Sweden– Turkey– Bulgaria– Russia
South America– Argentina– Colombia – Uruguay– Venezuela
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(1) Consumer demand(2) Government regulation(3) Globalization(4) Process not a product
Drivers of Financial Planning
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6-Step FinancialPlanning Process1. Establishing and defining the
client-planner relationship2. Gathering client data including goals3. Analyzing and evaluating the client’s
financial status4. Developing and presenting financial
planning recommendations and/or alternatives
5. Implementing the financial planning recommendations
6. Monitoring the financial planning recommendations
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Consumers who have NOTbenefited from working with a financial planner
0%1%
3%
13%
0%
2%
4%
6%
8%
10%
12%
14%
1Clients of CFP® Certificants Clients of non- CFP® Certificants
© 1999, 2002 Certified Financial Planner Board of Standards Consumer Surveys
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(1) Consumer demand(2) Government regulation(3) Globalization(4) Process not a product(5) National & International
financial services company support
Drivers of Financial Planning
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InternationalSupport for theCFP
®Certification
• AXA Financial Services
• American Express Financial Advisors
• Charles Schwab• Prudential
Securities• John Hancock
• UBS • INVESCO• Fidelity• Credit Suisse• Merrill Lynch• Deutsche Bank• HSBC
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International CFP®
Certification Program
To benefit the clients and potential clients of financial
planners by establishing, upholding and promoting worldwide professional
standards in financial planning.
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Worldwide Financial Planning Standards
The Four EsThe Four Es
• Initial & Continuing EEducation•• EExamination•• EExperience•• EEthics & Practice Standards
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Awareness of Benefits of Financial Planning
“…CFP®, widely considered the gold standard for those who give financial advice.”
USA Today, January 24, 2004
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Benefits of CFP®
Certification
• Expertise, credibility instantly communicated
• Career, earnings opportunities enhanced
• Clients are more satisfied• Forefront of an evolving profession• Prestige of meeting the international
standard for professional financial planning
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FPSB Activities
• Global engagement• Unified CFP program • Assistance of affiliated organizations• Global standard setting• Protection of trademarks• Cooperation with local regulators • Fundraising • New affiliations
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Future
• One global brand• Global education program• Different levels in financial planning • Enforced protection of the consumers• True partner to the financial industry• Assistance to local regulators
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Nicolas KoechlinKrneta PartnerMünzgraben 6
CH – 3000 Bern 7+41 31 326-2728+41 31 326-2729+41 79 434-1127
Thank you!