FP Canada releases October exam results

The results are in for FP Canada’s October sitting of the certified financial planner (CFP) exam.

The exam was written by 399 candidates, and three-quarters of first-time writers passed, a release said.

The previous exam in February had 283 candidates and a pass rate of 72% for first timers.

A post-exam survey from FP Canada found that 84% of candidates wrote the exam so they can better serve their clients and enhance their skills. About 35% of respondents said they wrote the exam because the certification was required by their employer. 

In addition, exam writers were motivated to earn a certification that lets them use the title “financial planner” under title protection legislation. The CFP certification is one of the Financial Services Regulatory Authority of Ontario’s approved credentials for using the “financial planner” title.

Canada has about 17,300 CFP professionals as of Sept. 30, according to FP Canada’s website, down from 17,500 in March.

Jonathan Got

Jonathan Got is a reporter with Advisor.ca and its sister publication, Investment Executive. Reach him at jonathan@newcom.ca.