FPI hosted FPSB and its member organisation

11 December 2017: Johannesburg – Shaping the Future of Financial Planning 

The African financial planning community, led by the Financial Planning Institute of Southern Africa hosted over 90 delegates during Financial Planning Standards Board’s (FPSB) Global Member Meeting which took place from 24 – 26 October 2017 in Cape Town.

“The Global Member Meeting enabled participants to share ideas and best practices with peer bodies from around the world and how mutual experiences can be leveraged to the best advantage of FPSB and its member organisations”, said Godfrey Nti, FPI CEO.

Under the theme, “Shaping the Future of Financial Planning”, the FPSB Board of Directors, FPSB senior management, the leadership of FPSB’s member organisations (now in 26 countries and territories) and dignitaries as well as guests from various African nations met to: 

Review FPSB's progress in executing its mid-term and long-term LASER Strategy (LASER = Leadership, Awareness, Standards, Engagement and Recognition);
Identify global trends most likely to impact the growing global financial planning profession, and discuss how FPSB should respond to, and capitalise on, those trends;
Evaluate the appropriateness of FPSB's standards and CFP® certification requirements to ensure CFP® certification continues to symbolise excellence in financial planning globally; and
Take a deep-dive into the impacts and opportunities of Fintech on the Future of Financial Planning, and how the FPSB network can prepare the global financial planning community to promote the value of human-led financial advice, delivered in a digitally powered way.

While the FPSB Board kept its focus on FPSB's business model and long-term strategy, the FPSB network of chief executives debated how to simplify the enrolment process and how candidates progress through the CFP® certification process. They also discussed how to globally, communicate the brand message for CFP® certification. 

FPSB Europe discussed how to align the efforts of FPSB’s eight-member organisations in that region, with those of the EU Commission, European Supervisory Authorities and European consumer groups.

It was left to the Launching and Developing Markets Forums to focus on increasing consumer financial capability and literacy, while the Mature Markets Forum tackled how to effectively deliver financial advice and financial planning from competent and ethical professionals to the mass market.

Inspired by a keynote address from  South African Qualifications Authority’s CEO, Joe Samuels, on the role of professions and professional bodies in benefiting society, guest practitioners and financial services sector leaders from Kenya, Nigeria, South Africa and Uganda, the FPSB network identified three priorities for 2018:

(1)   Promote the Development and Role of #FPtech: the FPSB network will work with the global financial planning community, regulators and fintech providers to identify and develop the knowledge, competencies, skills and platforms/tools that financial advisers and financial planners will need to deliver great client service and thrive in an #FPtech environment. 

(2)   Launch World Financial Planning Day 2018 (#WFPD): Capitalising on the fantastic effort by FPSB member organisations in support of IOSCO’s inaugural World Investor Week (#WIW2017) last month, the FPSB network will host the second World Financial Planning Day (#WFPD) in 2018. 

(3)   Promote Pathway Programmes to CFP® Certification: To encourage a broader community of financial services practitioners to embrace FPSB’s client-centric standards and embark on a career path of learning leading to CFP® certification, FPSB will promote career path education courses and certifications, leading to CFP® certification. While FPSB will focus this initiative in new territories, FPSB member organisations can also align existing pathway programmes to the new FPSB Qualifications Framework. 

When Noel Maye, FPSB CEO was asked about the event, including all sessions held, and the priorities identified for 2018, he had this to say, “As always, I leave FPSB's Global Member Meetings with a renewed commitment to our vision to establish financial planning as a global profession, with CFP® certification as a symbol of excellence. He added “I’m energised by the passion of so many great practitioners and professional body leaders from around the world who are working to ensure that consumers will have access to professional advice from competent and ethical financial planners, who put their clients' interests first.” 

“The event provided an opportunity to raise awareness of FPSB and its mission of benefiting the global community by establishing, upholding and promoting worldwide professional standards in financial planning”, Maye concluded.


Media contacts:

The Financial Planning Institute (FPI)
Tsholofelo Dihutso CPRP
Communications and PR Manager 
T:(011) 470-6000
E: media@fpi.co.za  

Cinnamon Communication
Marilyn Watson
T: 082 897 7752
E: marilyn@cinnamoncommunication  

About the Financial Planning Institute of Southern Africa
The Financial Planning Institute of Southern Africa (FPI), a South African Qualifications Authority (SAQA) recognised professional body for financial planners, which serves the public by ensuring that people who carry the CFP® designation are qualified, experienced and professional. FPI has recently been approved by the South Africa Revenue Services (SARS) as a Recognised Controlling Body (RCB).

The Institute is also recognised internationally and is a founding, and a current affiliate member, of the international Financial Planning Standards Board Ltd (FPSB) based in the USA, along with 25 other affiliate member countries who offer CFP® certification, the highest recognised professional designation worldwide for a financial planning professional. 

In 2012, FPI was highly commended by FPSB and awarded Tier 1 Affiliate Status for receiving 96% in the global assessment. This is the highest achievement any affiliate has ever received. For more, visit www.fpi.co.za or follow @FPISANews.