Requirements and regulations

F.Pl. obligations

The Institute is responsible for the training of financial planners (F.Pl.s) in Quebec.

All financial planners must accumulate 40 professional development units (PDUs) over a two-year period to meet professional requirements. This two-year period begins on December 1 of each odd-numbered year. For example, cycle 013 runs from December 1, 2023, to November 30, 2025.

Professional development requirements

The 40 required PDUs are divided into categories.

*Compulsory courses for financial planners

Every two training cycles (i.e., every four years), financial planners must complete one or more of the Institute’s SC-FP professional development activities that are worth 5 PDUs.

The current four-year period runs from December 1, 2023, to November 30, 2027 (cycles 013 and 014). During this period, you must choose and complete one or more SC-FP professional development activities offered by the Institute that are worth at least 5 PDUs.

Extra PDUs

Extra PDUs are managed as follows:

• Excess PDUs in the IPFP category will be transferred to the SFPA category
• Excess PDUs in the SC-FP category will be transferred to the SC category

Extra PDUs are not transferable to the next professional development cycle.

Exemption from professional development obligations and PDUs pro rata

Financial planners who have received or will receive their certificate from the Authorité des marchés financiers within the current professional development cycle may be exempted from part of their professional development obligation. To find out the number of PDUs required, depending on when you obtained your designation, you need to submit an exemption request.

Financial planners who are absent or on leave for at least 4 consecutive weeks due to illness or accident or family or parental reasons may be exempted from professional development obligations as well. They must submit an exemption request. A progressive return does not qualify for exemption.

To find out how many PDUs you must complete according to the number of months you were active in a given cycle, consult the PDU Dispensation Table for all 24-Month Reference Periods.

Extensions for Completing Required Training for Dispensation Requests over Two Reference Periods

To meet professional development requirements, financial planners whose dispensation requests extend to a prior reference period can complete their PDUs once they return to work. A period of gradual return is not eligible for dispensation and must be included in the extension granted to complete the training.

The extensions are shown in the chart based on the number of PDUs subject to the dispensation request.

Regulations

If you’d like more information, please consult the regulations governing the training of financial planners in Quebec:

• Regulation respecting the compulsory professional development of financial planners
• Regulation respecting the issuance and renewal of representatives' certificates (no.1)
• Regulation respecting titles similar to the title of financial planner (no.13)