A competency profile for financial planners, based on a framework first conceived and developed in Canada, is now adopted as an international standard.

The event occurred at the recent meeting in Salvador, Brazil, of Financial Planning Standards Board (FPSB), the international organization that owns the CFP marks outside the United States.

The framework for the profile was first developed in Canada by Financial Planners Standards Council (FPSC) over a two-year period. FPSB the international organization of which FPSC is the Canadian affiliate, engaged a multinational team from Australia, Austria, Canada, Hong Kong, Japan, South Africa and the United States to establish a competency profile for the global financial planning community.

The goal both in Canada and internationally was to find a way of assessing and describing the abilities, skills and knowledge CFP professionals must have to serve the financial planning needs of their clients. The Canadian profile was used for the first time as the criteria of the November Canadian CFP Certification Examination.

FPSC President and CEO Cary List lead the team that developed the profile in Canada and was on the international team developing the global profile. He says, “It is very satisfying to see the leading work done in Canada provide a framework for the international standard. I congratulate all of those involved in the profile’s development.”

Also noteworthy was the election of Jim Kraft, vp of marketing of Toronoto-based Manulife Financial, to the board of directors of the FPSB. His term of office will run from 2008 through 2010.

The other Canadian member is FPSC past chairman Peter Volpé, senior vp, Integra Capital Financial of Toronto, whose term runs through 2009.

“I’m very pleased to be chosen as a board member of FPSB,” says Kraft. “I look forward to offering as much value as possible to the board.” As a condition of election to the board of FPSB, Kraft has resigned as vice-chairman of the Board of FPSC. He is replaced by Debra Ammeter, vp, advanced financial [lanning support, Investors Group, of Winnipeg.