MEDIA RELEASE

Financial Planning Practice in Future Will Be More Innovative, More Human and More in Demand, According to Global CFP Professionals

8 July 2022

Financial Planning Practice in Future Will Be More Innovative, More Human and More in Demand, According to Global CFP Professionals

FPSB Research Shows Global Financial Planning Community Optimistic About Profession’s Future, Committed to Professionalism and Eager to Promote Value of Holistic Financial Planning

NEW YORK – 05 October 2021 – Financial Planning Standards Board Ltd. (FPSB), owner of the international CERTIFIED FINANCIAL PLANNER certification program outside the United States, has released the results of its Future of Financial Planning Practice research, a survey of 4,250 CERTIFIED FINANCIAL PLANNER professionals across 23 territories, conducted in partnership with the global FPSB Network. The survey was carried out as a complement to FPSB’s Global Job Analysis, a landmark international study on the current practice of financial planning, and captures CFP professionals’ view on trends likely to affect financial advice delivery in the next five years.

Technology expected to enhance the practice of financial planning. CFP professionals viewed financial technology (42%) as the factor likely to have the greatest impact on how financial planners work with clients over the next five years, with almost 70% favorably viewing technology as something that would allow them to spend more time doing financial planning with clients. Two thirds (66%) of CFP professionals increased their efforts to shift to a more virtual practice during the Covid-19 pandemic, and a majority expect at least 40% of their client meetings to continue to be virtual in the near future.

Financial planning relationships shift towards collaboration, financial planners embrace “softer” skills. During the Covid-19 pandemic, almost one third (32%) of CFP professionals reported being more involved with their clients in managing emotions. When asked about the value financial planners will provide to clients in the future, over half the CFP professionals surveyed reported that collaborating to set and achieve financial goals (29%) and providing objective advice to facilitate decision-making (27%) will be the greatest value they can provide to clients. In support of this shift towards more collaborative client relationships, CFP professionals reported financial planners needed to learn more about behavioral finance (55%) and coaching (43%) to be successful in the future, along with more traditional topics such as financial issues related to aging (68%), estate planning (62%) and investment management (57%).

Public demand for financial planning will increase, driven by retirement needs. Overwhelmingly (82%), CFP professionals expect increased demand for financial planning services over the next five years. CFP professionals see demand growing due to more people preparing for retirement (61%) and younger generations seeking financial planning (35%), increased levels of consumer awareness of the value of financial planning (56%) and the need for professional advice caused by global economic uncertainty (41%). Not surprisingly given the importance placed on retirement, CFP professionals listed retirement security (69%), investment planning (64%), managing inheritance / wealth transfer to the next generation (61%) and finances associated with aging and long-term care (47%) as the top items they expected financial planning clients would want them to address in the future.

Raising awareness of the value of financial planning and (re)building trust will be key to engaging the public. Although increased public awareness is expected to be one of the drivers of demand for financial planning, CFP professionals indicate there is significant work that needs to be done to promote the value of financial planning and the value of working with a financial planner. Respondents cite a lack of awareness of the value of financial planning (79%) as the top reason people do not seek out financial planning services, followed by a lack of trust in financial advisors (46%).

FPSB sees initiatives like the global financial planning community’s fifth World Financial Planning Day on 6 October as an important step in this effort, and looks forward to enhanced public awareness and financial literacy opportunities in the coming years that will promote to the public the value of financial planning and of having a financial plan, and the value of seeking out practitioners who have committed to standards of competence and ethics, like the global CFP professional community.

Continuing Professional Development Key to Financial Planner Success. In welcome news to FPSB, and affirmation of the commitment of the global CFP professional community to professionalism, respondents listed continuing education / professional development (65%) as the action that would have the most significant impact on their success over the next five years. This was followed by embracing technology (60%) and shifting client service to a holistic model of financial planning (59%).

“FPSB will use the information we’ve gathered through this year’s global research projects into the current and future practice of financial planning to future-proof the financial planning profession and CFP certification program,” said Noel Maye, CEO of FPSB Ltd. “FPSB looks forward to engaging the global CFP professional community and other stakeholders to ensure that our standards and certification requirements are appropriate for an evolving financial planning profession, and that CFP certification continues to be recognized as financial planning’s global symbol of excellence.”

About FPSB Ltd.

FPSB manages, develops and operates certification, education and related programs to benefit the global community by establishing, upholding and promoting worldwide professional standards in financial planning. FPSB demonstrates its commitment to excellence with the marks of professional distinction – CFP, CERTIFIED FINANCIAL PLANNER and CFP Logo Mark – which it owns outside the United States. FPSB and the FPSB global network administer CFP and other certification programs in the following 27 territories: Australia, Austria, Brazil, Canada, Chinese Taipei, Colombia, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Japan, Malaysia, the Netherlands, New Zealand, People’s Republic of China, Peru, Republic of Korea, Singapore, South Africa, Switzerland, Thailand, Turkey, the United Kingdom and the United States. At the end of 2020, there were 192,762 CFP professionals worldwide. For more, visit fpsb.org.

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CFP Certification Global excellence in financial planning™

Media Contact:

Annalisa Aung

Marketing Executive

Financial Planning Association of Singapore

6829 7166

annalisa@fpas.org.sg

events@fpas.org.sg

MEDIA RELEASE

PRESS RELEASE: 6th Annual World Financial Planning Day

29 August 2022

Financial Planning Association of Singapore and the Global CFP Professional Community Promote Value of Financial Planning on 6th Annual World Financial Planning Day

Part of International Organization of Securities Commissions’ (IOSCO) World Investor Week

SINGAPORE – 29 August 2022 – Financial Planning Association of Singapore (FPAS) will join Financial Planning Standards Board Ltd. (FPSB), the standards-setting body for the global financial planning profession and owner of the CERTIFIED FINANCIAL PLANNER certification program outside the United States, and its global network of organizations to host the sixth annual World Financial Planning Day on 5 October, in partnership with IOSCO’s World Investor Week, which runs from 3-9 October.

World Financial Planning Day raises awareness of the value of financial planning, of having a financial plan, and of working with a financial planner who has committed to competency and ethical standards, like a CERTIFIED FINANCIAL PLANNER professional.

FPAS is part of the FPSB Network, which represents more than 203,000 CFP professionals worldwide, and will host the 6th Annual World Financial Planning Day that demonstrate how financial planning can help individuals make financial decisions to achieve their life goals, now and into the future.

“During a time of global economic uncertainty, people may feel vulnerable and concerned about their finances and their futures,” said FPSB CEO Noel Maye. “World Financial Planning Day provides the global financial planning profession with the opportunity to educate the public about financial matters and demonstrate how financial planners who have committed to putting clients’ interests first, like CFP professionals, can help people navigate complex financial decisions to live their today and plan their tomorrow.”

For the sixth year, FPSB has partnered with the International Organization of Securities Commissions (IOSCO) to host World Financial Planning Day during World Investor Week, a global campaign designed to raise awareness of financial literacy and investor protection. This collaboration highlights the role the global financial planning profession plays in supporting regulators to ensure better financial outcomes for people all over the world.

“World Financial Planning Day is a not-to-be-missed appointment within the IOSCO World Investor Week calendar. Investor resilience, which is one of the key themes of the WIW 2022, is very much grounded in financial planning,” said chair of IOSCO’s Committee on Retail Investors, Pasquale Munafò. “IOSCO is working together with FPSB to strengthen this link and, through our financial wellbeing and financial literacy activities, strengthen the ability of retail investors and financial consumers around the world to set goals, to stay focused on what matters most, and to be better prepared to deal with uncertain times.”

“FPAS is pleased to collaborate with FPSB and IOSCO for its sixth year of World Financial Planning Day as part of World Investor Week campaigns,” said FPAS CEO Samantha Wong. “CFP Singapore community is also proud to play its part in raising the awareness about the value of financial planning and the importance of working with a certified financial planner. This has further proven during the pandemic where the benefits of having a plan in-place have helped those through the difficult times.”

“With the growing anxiety on the economic situation and the rising cost of everything, join our panelists during FPAS WFPD event on 5 Oct at 3pm to find out how you can recession-proof your finances,” added Samantha.

FPSB’s network of organizations will host a variety of activities leading up to and on World Financial Planning Day, including:

Events Around the World

A variety of national and local events to raise awareness about the value of financial planning, of having a financial plan and of working with a financial planner. Visit worldfpday.org and join the #WFPD2022 conversation on Facebook, Twitter, LinkedIn and Instagram to learn more.

Educational Materials for the Public

A variety of articles and resources to educate individuals on financial planning topics including steps to improve your financial wellbeing, financial guides for business owners, and how to prepare for the first meeting with a CFP professional.

Finding a CFP Professional

People in Singapore have access to 1180 CERTIFIED FINANCIAL PLANNER professionals who have committed to working in their clients’ interests. Individuals seeking a financial planner to help them plan their future can find a CFP professional in their area.

More information about World Financial Planning Day and World Investor Week is available on worldfpday.org and worldinvestorweek.org and by joining the #WFPD2022 and #IOSCOWIW2022 conversations on Facebook, Twitter, LinkedIn and Instagram.

About Financial Planning Association of Singapore (FPAS)

The Financial Planning Association of Singapore (FPAS) is a non-profit professional association dedicated to developing and promoting an industry providing unbiased financial advice to the Singaporean public.

Established on 1st December 1998, FPAS is part of a global assembly of financial planning bodies, and a licensee of the Financial Planning Standards Board Ltd., a US-based non-profit organization launched in October 2004 to set standards for and oversee the international CFP® certification program.

FPAS vision is to ensure that all Singaporeans have access to responsible and appropriate financial planning advice by raising the professional standards of the industry through education and a shared code of ethics. For more, visit fpas.org.sg.

About FPSB Ltd.

FPSB manages, develops, and operates certification, education and related programs to benefit the global community by establishing, upholding and promoting worldwide professional standards in financial planning. FPSB demonstrates its commitment to excellence with the marks of professional distinction – CFP, CERTIFIED FINANCIAL PLANNER and CFP Logo Mark – which it owns outside the United States. FPSB and the FPSB global network administer CFP certification and other programs in the following 27 territories: Australia, Austria, Brazil, Canada, Chinese Taipei, Colombia, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Japan, Malaysia, the Netherlands, New Zealand, People’s Republic of China, Peru, Republic of Korea, Singapore, South Africa, Switzerland, Thailand, Turkey, the United Kingdom, and the United States. At the end of 2021, there were 203,312 CFP professionals worldwide. For more, visit fpsb.org.

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CFP Certification Global excellence in financial planning™

Global Press Release

Media Contact:

FPAS Events & Marketing

Email: events@fpas.org.sg

Contact no.: 6829 7157

MEDIA RELEASE

6th World Financial Planning Day Event Highlights

26 October 2022

MEDIA RELEASE

CERTIFIED FINANCIAL PLANNER Professionals Worldwide Surpasses 213,000

7 February 2023

CERTIFIED FINANCIAL PLANNER Professionals Worldwide Surpasses 213,000

Number of CFP professionals has increased ten-fold since 1990, when CFP certification first went international

DENVER – 7 February 2023 – Financial Planning Standards Board Ltd. (FPSB), the standards-setting body for the global financial planning profession and owner of the international CERTIFIED FINANCIAL PLANNER certification program outside the United States, reports the number of CFP professionals worldwide has surpassed 213,000. With a gain of 9,690 CFP professionals last year, FPSB and its global network of organizations grew the number of CFP professionals worldwide by nearly 5% to a total of 213,002, as of 31 December 2022.

“We’re pleased to report the number of CERTIFIED FINANCIAL PLANNER professionals worldwide continues to grow, reaching its highest ever at over 213,000. Our robust global community of CFP professionals means people around the world have access to financial planning from those who have committed to rigorous standards of competency, ethics and practice,” said FPSB CEO Dante De Gori, CFP. “With global economic uncertainty and the rising costs of living impacting so many, increased access to financial planning advice is of utmost importance to help individuals and families stay on track to reach their goals and achieve financial well-being.”

Americas and Asia-Pacific regions realized the highest increase of CFP professionals in 2022. The top six growth markets for CFP professionals were:

To learn more about worldwide CFP professional growth in 2022, view the infographic.

1. People’s Republic of China, with an increase by FPSB China of 3,382 CFP professionals for a year-end count of 30,182, representing the second-largest CFP professional

2. United States, with an increase by CFP Board of 3,082 CFP professionals for a year-end count of 95,137, representing the largest CFP professional community in the world

3. Brazil, with an increase by Planejar – Associação Brasileira de Planejamento Financeiro of 1,245 CFP professionals for a year-end count of 8,630

4. Japan, with an increase by Japan Association for Financial Planners of 1,034 CFP professionals for a year-end count of 25,098

5. Canada, with an increase by FP Canada of 462 CFP professionals for a year-end count of 17,259

6. Chinese Taipei, with an increase by Financial Planning Association of Taiwan of 410 CFP professionals for a year-end count of 2,842

The six territories with double-digit growth rates in the number of CFP professionals last year were Thailand (21.1%), Brazil (16.9%), Chinese Taipei (16.9%), Israel (16.6%), People’s Republic of China (12.6%) and Singapore (10.8%).

“Increasing the number of CFP professionals nearly two and a half times globally since FPSB’s creation in 2004 reinforces the value CFP certification holds in the global financial planning profession,” added De Gori. “With 26 years of continuous growth of CFP professionals, we are grateful for FPSB’s network of organizations and the hundreds of thousands of CFP professionals who support the advancement of the financial planning profession, with CFP certification its symbol of excellence.”

For further details on worldwide CFP professional growth in 2022, view FPSB’s infographic.

About FPSB Ltd.

FPSB manages, develops and operates certification, education and related programs to benefit the global community by establishing, upholding and promoting worldwide professional standards in financial planning. FPSB demonstrates its commitment to excellence with the marks of professional distinction – CFP, CERTIFIED FINANCIAL PLANNER and – which it owns internationally. FPSB and the FPSB global network administer CFP certification and other programs in the following 27 territories: Australia, Austria, Brazil, Canada, Chinese Taipei, Colombia, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Japan, Malaysia, the Netherlands, New Zealand, People’s Republic of China, Peru, Republic of Korea, Singapore, South Africa, Switzerland, Thailand, Turkey, the United Kingdom and the United States. At the end of 2022, there were 213,002 CFP professionals worldwide. For more, visit fpsb.org.

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CFP Certification Global excellence in financial planning™

Singapore Press Release

Media Contact:

Koh Fang Wei (Ms)

Marketing Executive

Financial Planning Association of Singapore

[65] 6829 7166

events@fpas.org.sg

admin@fpas.org.sg

MEDIA RELEASE

2022 Growth of CFP Professionals

7 February 2023

Global Press Release

Singapore Press Release

MEDIA RELEASE

CERTIFIED FINANCIAL PLANNER Professionals in Singapore Tops 1,308

8 February 2023

CERTIFIED FINANCIAL PLANNER Professionals in Singapore Tops 1,308

CFP professionals worldwide now surpass 213,000

SINGAPORE – 8 February 2023 – The Financial Planning Association of Singapore (FPAS), a non-profit professional association dedicated to developing and promoting an industry providing unbiased financial advice to Singaporeans, reports the number of CFP professionals in Singapore has reached 1,308. With an increase of 128 CFP professionals last year, FPAS grew the number of CFP professionals in Singapore by 10.8% to a total of 1,308, as of 31 December 2022. The CFP professional growth in Singapore is part of a growing global trend, where last year the number of CFP professionals around the world reached an all-time high of 213,002.

“We’re pleased to report the number of CERTIFIED FINANCIAL PLANNER professionals worldwide continues to grow, reaching its highest ever at over 213,000. Our robust global community of CFP professionals means people around the world have access to financial planning from those who have committed to rigorous standards of competency, ethics, and practice,” said FPSB CEO Dante De Gori. “With global economic uncertainty and the rising costs of living impacting so many, increased access to financial planning advice is of utmost importance to help individuals and families stay on track to reach their goals and achieve financial well-being.”

FPAS has seen a strong double-digit growth rate of CFP professionals in Singapore. Recent efforts include the launch of FPAS E-Assessment which enables online learning for both individuals and corporate training during the pandemic, the enhanced funding scheme by the Singapore government and the realization to always upskill and provide comprehensive financial advice to clients including during crisis, can be attributed to last year’s growth.

“The increase in the number of CFP professionals by two and a half times globally is a strong indication of the value that CFP certification holds in the financial planning profession,” said FPAS CEO Samantha Wong. She welcomes the newly conferred CFP professionals to join the CFP community in Singapore and be the advocate to ensure that all Singaporean have access to responsible and appropriate financial advice. “Their belief in the financial planning profession with CFP certification – a symbol of excellence is a true commitment to their responsibility.”

To learn more about worldwide CFP professional growth in 2022, view the infographic.

FPAS is part of the FPSB Network. Financial Planning Standards Board Ltd. (FPSB) is the standards-setting body for the global financial planning profession and owner of the international CERTIFIED FINANCIAL PLANNER certification program outside the United States, representing 213,002 CFP professionals worldwide.

About Financial Planning Association of Singapore (FPAS)

FPAS is a non-profit professional association dedicated to developing and promoting an industry providing unbiased financial advice to the Singaporean public.
Established on 1st December 1998, FPAS is part of a global assembly of financial planning bodies, and a licensee of the Financial Planning Standards Board Ltd., a US-based non-profit organization launched in October 2004 to set standards for and oversee the international CFP® certification program

FPAS’s vision is to ensure that all Singaporeans have access to responsible and appropriate financial planning advice by raising the professional standards of the industry through education and a shared code of ethics. For more, visit fpas.org.sg.

About FPSB Ltd.

FPSB manages, develops, and operates certification, education, and related programs to benefit the global community by establishing, upholding, and promoting worldwide professional standards in financial planning. FPSB demonstrates its commitment to excellence with the marks of professional distinction – CFP, CERTIFIED FINANCIAL PLANNER and – which it owns internationally. FPSB and the FPSB global network administer CFP certification and other programs in the following 27 territories: Australia, Austria, Brazil, Canada, Chinese Taipei, Colombia, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Japan, Malaysia, the Netherlands, New Zealand, People’s Republic of China, Peru, Republic of Korea, Singapore, South Africa, Switzerland, Thailand, Turkey, the United Kingdom, and the United States. At the end of 2022, there were 213,002 CFP professionals worldwide. For more, visit fpsb.org.

# # #

CFP Certification Global excellence in financial planning™

Global Press Release

Media Contact:

Koh Fang Wei (Ms)

Marketing Executive

Financial Planning Association of Singapore

[65] 6829 7166

events@fpas.org.sg

admin@fpas.org.sg