Recent high-profile investment scandals and the economic downturn have focused renewed attention on financial literacy.

According to Financial Planners Standards Council (FPSC), a key aspect of financial literacy is for Canadians to better understand what they should consider when hiring a financial planner.

“Trust is integral to the advisor-client relationship but it’s never enough to go with instinct or hire someone simply because they appear trustworthy,” says Cary List, president and CEO of FPSC.

“Canadians can better protect their financial wellbeing by learning what to look for in an engagement with a financial professional and learning about the advisor’s professional credentials, their approach, their ethics, values and commitment to professionalism,” says List.

The FPSC considers financial literacy an important life skill, and provides Canadians with guidance about financial planning, finding a planner, and questions to ask a planner. The resources are available on the FPSC website.

The FPSC licenses the Certified Financial Planner marks in Canada. There are currently more than 17,500 CFP professionals in Canada and more than 120,000 individuals who have earned CFP certification in 22 countries around the world.

IE