Title : Financial Planner
A holder of a diploma issued by the Institut québécois de planification financière authorized under a certificate issued by the Autorité des marchés financiers (AMF) to act in the financial planning sector uses the title of "financial planner" or the abbreviation "F.Pl". It is the same for any member of a professional order who has entered into an agreement with the AMF if they meet the requirements of their order (see "Exceptions").
How to obtain a representative’s certificate:
Step 1: Satisfy the minimum qualifications
The Regulation respecting the issuance and renewal of representatives’ certificates (No. 1) sets out the minimum qualifications required for each sector or sector class.
For financial planning:
- A diploma from the Institut québécois de planification financière (IQPF).
Step 2: Submit an application for certification
Send a duly completed certificate application to the AMF.
Important - Changes to the requirements for obtaining a certificate
Please note that as of April 1, 2014, a new requirement will have to be met to obtain a financial planner’s certificate.
The candidate will have had to successfully pass the exam leading to the issuance of an IQPF diploma a maximum of 6 years1 before submitting his or her certificate application.
A candidate having successfully passed the IQPF exam more than 6 years ago will nonetheless have the opportunity to demonstrate that he or she has applied the competencies acquired through obtaining this diploma. And so, over and above being the holder of an IQPF diploma, the candidate will have to:
- Have held an AMF certificate in the financial planning sector for two years2 in the past six years and have met his or her continuing education obligations; or
- Submit evidence that he or she has completed 40 continuing education credits as prescribed in the Regulation respecting the compulsory professional development of financial planners (D-9.2, r. 14.1) in the past six years3; or
- Have been authorized to use the title of financial planner for at least two years in the past six years, according to an agreement between his or her professional order4 and the AMF.
Otherwise, the candidate will have to successfully pass the IQPF exam once more.
Once this new requirement is met, the candidate may send the AMF a duly completed certificate application.
1 The date used to calculate the 6-year period is the date the exam was passed and not the date the diploma was issued, if those two dates differ.
2 The two-year period need not be continuous. The total period during which an AMF certificate was held must total 2 or more years after having added all periods during which the candidate was licensed over the past six years.
3 The continuing education credits need not have been accumulated in a 24-month period. The candidate must nonetheless have cumulated 40 credits in the proportions prescribed in the Regulation respecting the compulsory professional development of financial planners.
4 The order may be the Ordre des comptables professionels agréés du Québec (comprising the ancient orders of CA, CGA, CMA), the Ordre des administrateurs agréés or, until January 31, 2013, the Chambre des notaires.
Exceptions: members of a professional order who have entered into an agreement with the AMF
The following professional orders have entered into an agreement with the Authority to allow their members to use the title of financial planner:
- Ordre des administrateurs agréés du Québec
- Ordre des comptables professionnels agréés du Québec
The members of these orders who hold a diploma in financial planning issued by the Institut québécois de planification financière (IQPF), are authorized to use the title of financial planner as long as they meet the requirements and comply with the rules determined by their order.
These are professional orders that regulate and supervise their members when carrying out activities as a financial planner. These do not need to hold a certificate in the field of financial planning in order to operate legally.
However, these agreements do not apply to a member of an order:
- who is registered as a representative in accordance with Title III of the Derivatives Act (chapter I-14.01) or Title V of the Securities Act (chapter V-1.1); or
- who holds a certificate issued by the AMF pursuant to An Act respecting the distribution of financial products and services in a sector other than financial planning; or
- who is an officer or employee of a firm registered in a sector other than financial planning, where the member acts in the field of financial planning for that firm.
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