financial planners desk

Tips For Choosing A Financial Planner

Inside of Canada, financial planners have multiple titles.

Some call themselves “certified financial planners – cfp” while others may call themselves “financial consultants”, “financial advisors” or “investment advisor” among other titles. This is largely due to the fact that financial planning is not really regulated inside of most Canadian provinces, nor in Canadian territories.

Financial planners also have highly variable qualifications, training and experience. Most financial planners have taken courses and passed exams in the field, and hold designations from educational institutions and standards bodies. Others may also be registered with a securities regulator to sell investments or provide advice on investing one’s money. They may also have a license to sell insurance, as well as possibly being certified accountants or estate planners.

It is prudent to question and understand these qualifications before working with a certified financial planner (cfp). One should ensure the products and work they do is what you need, as well as ensure that the financial planner in question is a legitimate and qualified professional.

certified cfp seal

Financial Planning Credentials

There is more than one financial planning designation, which has different combinations of training. Most such designations call for training in money management, taxes, insurance, estate planning and investing. Some but not all include training in ethics or codes of conduct. A planner’s qualifications need to be understood to ensure they’re what you’re looking for.

If a planner also sells investments or investment advice, they will need to be registered with a securities regulator. There are different registration categorizations. Some planners can only offer advice on mutual funds. Others offer a wide range of products. Make sure the offered services meet your needs.

Here some sample financial planner credentials, and links to show examples.

These aren’t all the possible credentials, but they’re the most common ones.

Personal Financial Planner

Certified Financial Planner (CFP)

Registered Financial Consultant

Chartered Financial Consultant

Other possible qualifications include;

Certified General Accountant

Chartered Accountant

Mutual Fund Dealer (Dealing Representative)

Investment Dealer (Dealing Representative)

Insurance Broker



Q & A with BMO Nesbitt Burns

estate wills

Points To Consider Before Signing On Wills And Estates

Arguably, the basic reason behind the building of wills and estates is to guarantee the generation left behind will live a comfortable life after an individual is deceased.

Of course, this is the common representation of the estates and wills conception;

however, there are various factors to consider regarding the act of claiming or signing on these items. While the family may be promised a comfortable living, they could be left with nothing if another person makes a claim on the proofs left unwittingly before the owner dying. If the will or estate is contested by distant family members, it will be necessary to use the services of a professional. This article will point out the various considerations to make when in this particular situation.

It may be surprising that many individuals die without leaving a will with an estate; however, if this type of will has been provided with the law will require an executor to be appointed. The purpose of the executor is to act as the primary subject who will dispense the estate and wealth as is directed or seen fit. Many parties will benefit from wills and estates; however, they are typically accompanied by long legal battles where people try to lay claim to the deceased’s assets.

To reduce this problem, it is important to use professional advice when drawing up the will to ensure the correct amount of assets is passed on to the family.

When hiring an estate and wills lawyer, it is recommended a list of the people to be provided for is used. This will allow one to take the various laws and regulations into consideration ensuring no loopholes; thus, eliminating the chance of anyone contesting the document. A ‘will kit’ will not address these particular issues as wills are subject to alterations. By using the skills of a professional attorney, it is possible to complete the correct will and entrust the professional with changing clauses or adding new executors to the will.

Changing of wills can be done using codicils and these can bring about small updates in the document. Using a codicil is a secure procedure as it utilizes the same safeguards for creating the will; however, estate and will attorneys will typically take a moment to contest the legal tools.

Wills are not the simplest documents to prepare; however, they are very important as it protects the safety and future of a family.

It is important you are aware of how to create a secure will that will benefit those dependent on you.