Comprehensive financial planning practice standards developed by Financial Planners Standards Council to guide CFP professionals are now posted on FPSC’s Web site at www.cfp-ca.org.

This current version of the Practice Standards is the result of a comprehensive development effort begun in 2001 and involved extensive industry consultation.

Industry participants are invited to review this latest draft and provide further comment for FPSC’s consideration in finalizing the Practice Standards scheduled for implementation in the fall of 2003.

The Practice Standards provide practical direction to CFP professionals engaged in the practice of financial planning and help to provide greater consumer awareness and understanding of financial planning services. The Practice Standards will form the blueprint that will guide the actions of CFP professionals in their client/planner relationships.

“The Practice Standards will ultimately provide consistency among the diverse community of CFP professionals, advance the financial planning profession and benefit the industry and the public,” said Cary List, vice president, standards and certification, FPSC.

Directly linked to the Code of Ethics, the Practice Standards do not represent new ethical or professional obligations for CFP professionals. Rather, they interpret the application of the Code, as it relates specifically to the practice of financial planning, in tangible and practical terms.

To review the Practice Standards and post your comments, see http://www.cfp-ca.org/licensees/licensees_practicestandards.asp.