Financial Planning Standards Board Forms Committee to Oversee Global Financial Planning Competency, Ethics and Practice Standards

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Financial Planning Standards Board Forms Committee to Oversee Global Financial Planning Competency, Ethics and Practice Standards

Jan 02, 2011

DENVER, CO, December 7, 2010 – Financial Planning Standards Board Ltd. (FPSB), the preeminent international financial planning standards-setting body and owner of the CFP, CERTIFIED FINANCIAL PLANNER and stylized CFP (with flame design) trademarks outside the U.S., named a 2011 Standards Committee to oversee the establishment and maintenance of FPSB’s global competency, ethics and practice standards for the financial planning profession.

“We are pleased to have this distinguished, global group of certification and standards specialists overseeing FPSB’s standards-setting process,” said Corinna Dieters, FPSB Board chairperson. “In forming the committee, FPSB sought recognized experts in the fields of professional standards-setting, regulation and financial planning education, curriculum development and certification. The committee’s broad range of experience and depth of knowledge will not only help FPSB develop high-quality standards that represent excellence in financial planning; it will help us achieve consistent and appropriate application of those standards around the world.”

The six-member committee, consisting of representatives from Hong Kong, New Zealand, South Africa, the UK, the United Arab Emirates and the US, will develop, maintain and modify competency, ethics and practice standards for the global financial planning profession (as defined by FPSB’s Financial Planner Competency Profile, Financial Planner Code of Ethics and Professional Responsibility and Financial Planning Practice Standards). Other duties and responsibilities include developing, maintaining and modifying FPSB’s certification scheme; monitoring trends in applying or adapting FPSB’s standards and certification requirements and making recommendations for modification or enhancement; advising FPSB’s Board of Directors about the impact of changes suggested by FPSB’s staff or other stakeholders to FPSB standards or certification requirements; and, approving policies for FPSB’s certifications to ensure consistency and fair treatment of FPSB Members, candidates for certification and certification holders.

Chaired by Ian Johnston, FPSB Board member and deputy chief executive and managing director for Dubai Financial Services Authority, committee members will serve two-year terms, starting 1 January 2011. In addition to Johnston, participants include:

  • Simon Hassan, CFP, CLU, director of Hassan and Associates and Hassan Consulting in New Zealand;
  • Alan Kershaw, chairperson of ILEX (Institute of Legal Executives) Professional Standards Limited in the UK;
  • Wessel Oosthuizen, CFP, director of the Center for Financial Planning Law at the University of the Free State in South Africa;
  • Lynn Pi, Ph.D., CFP, adjunct associate professor in the Department of Finance at Hong Kong University of Science and Technology in Hong Kong; and
  • I. Richard Ploss, CFP®, CPA, of counsel with Preti Flaherty's Trusts and Estates and Business Law Practice Groups in the US.

FPSB also named a Certification and Standards Advisory Panel to provide advice and guidance to the Standards Committee on the development, implementation and administration of standards for the global financial planning profession. Consisting of six certification and/or standards specialists from member organizations of FPSB, the advisory panel will provide advice and guidance to the FPSB Standards Committee on the development, implementation and administration of standards for the global financial planning profession.

FPSB works in conjunction with its Members, practicing CFP professionals and subject-matter experts from around the world, to create standards for the financial planning profession. FPSB’s certification standards demonstrate to those accessing the services of a CFP professional that the financial planner has met rigorous competency, ethics and professional practice standards to provide comprehensive financial planning to clients.

FPSB’s vision is to establish financial planning as a global profession, with the CFP marks as its symbol of excellence. FPSB enforces its certification standards through its network of 24 nonprofit standards-setting organizations around the world. FPSB’s global standards and guidance documents are available for download online at

ABOUT CFP BOARD: The mission of Certified Financial Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning. The Board of Directors, in furthering CFP Board's mission, acts on behalf of the public, CFP® certificants and other stakeholders. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. CFP Board currently authorizes more than 62,000 individuals to use these marks in the United States.

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Dan Drummond, Director of Public Relations
P: 202-379-2252
M: 202-550-4372
Twitter: @CFPBoardmedia

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