The role of F.Pl.s

Objective assessments and recommendations

Financial planning is a process built on empathy and trust.

Before they draft an action plan, your financial planner (F.Pl.) will meet with you to explain their role and work method. Once they determine your needs, they’ll gather the necessary data and personal information to get started.

1. Assessment of your personal financial situation

2. Comparison of your current and ideal situation (goals)

3. Development of strategies based on your priorities

Based on the information you provide, your F.Pl. will assess your current situation and offer strategies and recommendations. These will be presented in a personal financial planning report. You can then decide with your F.Pl. whether or not to implement their proposed strategies and determine the method and frequency of follow-ups.

A financial planner gives you peace of mind

Since life is often unpredictable, financial planning is an ongoing process that evolves with your financial capacity and priorities. A good financial action plan is adaptable. It should reflect your reality, but also give your dreams space to grow. It sets out the following:

1. Regular progress reviews

2. A reassessment of existing financial strategies

3. Updates when necessary

And the proof is in the pudding: those who are more aware of their financial goals and retirement plans save more easily, approach surprise expenses with more confidence, and allow themselves more vacation and leisure time.

Strict requirements

In Quebec, anyone who calls themselves an F.Pl. must:

• hold a diploma issued by the Institute of Financial Planning;
• hold a certificate issued by the Autorité des marchés financiers (AMF) or be authorized to wear the title by a professional order who has an agreement with the Autorité des marchés financiers (the professional order of chartered administrators of Québec).

Make sure your financial planner has the necessary credentials.