455 individuals wrote the Financial Planning Standards Council’s first-ever sitting of Financial Planning Examination Level 1 (FPE1) in November, and 76% (346 candidates) passed, the FPSC said Monday.

These successful candidates are now eligible to become FPSC Registered Candidates, a key milestone on the path to Certified Financial Planner certification.

Changes to the CFP certification program officially came into effect on July 1, 2010. The program now includes an additional Capstone Course requirement and a two-staged examination process (FPE1 and PFE2), which replaces the single six-hour CFP Examination.

Once candidates have successfully passed FPE1, in order to remain eligible for CFP certification they must become registered candidates with FPSC and maintain continuous registration until they attain CFP certification. This annual registration process includes agreeing to adhere to the CFP Code of Ethics and CFP Financial Planning Practice Standards established by FPSC.

“Congratulations to the successful candidates of FPSC’s first-ever sitting of FPE1. Passing FPE1 is a demonstration of mastery in financial planning fundamentals, essential for a career in financial planning,” said John Wickett, senior vice president, standards & certification, FPSC, in a release.

Registered candidates receive official recognition from FPSC

All FPSC registered candidates will have their name published on the FPSC website, indicating this milestone on the path to CFP certification and that they have agreed to abide by the CFP Code of Ethics and CFP Financial Planning Practice Standards. As well, FPSC provides each registered candidate with a personalized online dashboard, progress-tracking tools, and diagnostics regarding their performance on FPE1 to guide and support them on their path to certification.

See www.fpsc.ca for more information.