How Can I Become an R.F.P.? (Qualifications Checklist)

Do you have what it takes to become an R.F.P.? We suggest you use the following checklist to determine your eligibility.

• I am already an Associate Member of the IAFP
• I have 3 years or more of experience in financial planning
• My primary vocation is comprehensive financial planning as defined by the IAFP
• I can provide three character references from the financial services industry, including one from a current R.F.P.
• I am prepared to submit a sample comprehensive plan to the IAFP for peer review (see Financial Plan Checklist in the Related Downloads box to the right)
• I will have completed all of the Education requirements for the R.F.P. designation, i.e.:
  • university degree or equivalency
  • financial planning education (e.g., completion of the CFP exam or equivalency)
  • passed the R.F.P. Ethics & Practice Standards exam
  • passed the R.F.P. Technical exam
• I am financially solvent

Successful completion of the Upgrade process (see below) plus required education, professional experience and peer recommendation will result in the awarding of the R.F.P. designation. The designation must be maintained through continuing education each year, ongoing qualification for membership in the Institute, and adherence to the IAFP Code of Ethics and Professional Standards of Practice for R.F.P.s.

Overview of the Upgrade to R.F.P. Process

There are four parts to the process of qualifying for the R.F.P. designation — obtaining three character references from other professionals, submitting a comprehensive financial plan for peer review, and writing two examinations; one dealing with Ethics & Practice Standards, and the other being the full-day Technical Competencies exam. More details on the Upgrade process are provided in the Members section of this website.

In the past, the success rate for those attempting the exam has been approximately 50 percent, and acceptance of the sample financial plan has been similar. Those who are awarded the R.F.P. designation have proven by exam and example that they are truly financial planning professionals.

Applying for Associate Membership

If you wish to begin your journey to become an R.F.P., please fill in the application form for Associate Membership and submit it, along with the necessary documentation, to our Administration office. Once your application is accepted, we will send you further information on the R.F.P. Upgrade process.

Any enquiries about new membership in the IAFP, or the Upgrade process to become an R.F.P., may be directed to our Executive Director at ed@iafp.ca. For further online information, see Becoming an R.F.P.

Last updated: 01 Feb 2010 7:45 PM