FP Canada to provide annual scholarship to 5 prospective financial planners

FP Canada is providing an annual scholarship to five aspiring financial planners who want to pursue one of the designations that the certification body oversees and who meet certain requirements.

The FP Canada Diversity in Action Scholarship is open to those from underrepresented groups, including women and Indigenous Persons, who want to pursue certified financial planner (CFP) or qualified associate financial planner (QAFP) certification and who have demonstrable financial need, a release on Tuesday said.

The scholarship launch is “a step toward building a profession where a multitude of perspectives are represented, which will help ensure that Canadians can access financial planning that meets their diverse needs,” FP Canada president and CEO Tashia Batstone said in the release.

FP Canada’s scholarship builds on its Imagine 2030 plan to help grow diversity within financial planning and ensure it reflects the Canadian population. Actively recruiting diverse candidates is also part of the certification body’s strategic priorities.

The scholarship is valued at up to $5,000 depending on the program the candidate selects. For example, the CFP program is $4,050 plus applicable taxes; the CFP program for mutual funds or securities licensed representatives is $3,755 plus applicable taxes.

The scholarship doesn’t include exam fees, certification application fees or annual certification fees, which are each hundreds of dollars.

Candidates must have completed a post-secondary degree or diploma, or be in their final year of a post-secondary program. (A post-secondary degree or diploma is generally among the requirements for certification as a CFP or QAFP professional, respectively, although qualifying work experience is also an option.)

Candidates must also demonstrate their financial need and intent to pursue financial planning in an essay of 500 to 1,000 words, and provide two letters of recommendation.

The deadline to apply is Oct. 20, and scholarship recipients will be announced on Nov. 3. Recipients must take part in a marketing campaign, the FP Canada website says.

Michelle Schriver

Michelle is a senior reporter for Advisor.ca and sister publication Investment Executive. She has worked with the team since 2015 and been recognized by the National Magazine Awards and SABEW for her reporting. Email her at michelle@newcom.ca.