Financial Planning’s International Standard

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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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1973

42 CFP® Certificants

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Year-end 2005

> 100’000 CFP®

CertificantsWorldwide

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By 2010

200,000CFP® CertificantsWorldwide

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1990

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1992

Japan Association for Financial Planners JAFP

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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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1997France

1997 Germany

Association Françaisedes Conseils en Gestion de Patrimoine CertifiésCGPC

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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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2003

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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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Why the interest in financial planning, CFP®

certification?

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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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Cross-Border Agreements

Cooperative Policies

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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

[email protected]

Thank you!