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|GLOBAL FINANCIAL LITERACY GROUP NAMES
FINANCIAL PLANNING STANDARDS BOARD AS NEWEST MEMBER
KUALA LUMPUR, MALAYSIA – 28 April 2017 – The International Forum for Investor Education (IFIE) today announced Financial Planning Standards Board Ltd. (FPSB), owner of the international CERTIFIED FINANCIAL PLANNER certification outside the U.S., as IFIE’s newest member. As an organization committed to establishing and promoting standards and best practices for investor education on a global basis, IFIE saw FPSB’s promotion of standards of excellence in financial planning globally as a welcome addition to IFIE’s global network.
“IFIE is pleased to have Financial Planning Standards Board join our global alliance that is focused on improving the effectiveness of financial capability and investor education programs around the world,” said IFIE Executive Director Kathryn Edmundson. “FPSB will bring the voice of the global CERTIFIED FINANCIAL PLANNER professional community to bear on IFIE’s activities, and help us better understand the attitudes, behaviors and knowledge gaps of the investing public, as well as the attitudes and behaviors of those providing financial advice and financial planning.”
“The work that IFIE is doing greatly supports the wellbeing of the global investing community, and FPSB is proud to join IFIE to collaborate on developing and implementing effective programs to educate and empower consumers globally,” said FPSB Ltd. CEO Noel Maye at FPSB’s Global Member Meeting in Kuala Lumpur. “The global FPSB network is keen to address consumers’ lack of confidence in achieving their financial goals by raising financial capability levels and integrating goals-based approaches and financial planning into investor education models.”
In 2015, FPSB global consumer research among more than 19,000 consumers showed that most people feel challenged by their finances, with relatively few saying they are very knowledgeable about financial matters or highly successful at sticking to their financial goals. FPSB welcomes the opportunity to partner with IFIE and its global network to identify programs and approaches to improve consumer financial capability and confidence, which will in turn support better consumer financial outcomes and overall wellbeing.
FPSB believes that an increased level of financial capability among members of the public should be regarded as a complement to working with a trusted, competent financial planner, not a substitute. To this end, FPSB welcomes the opportunity to partner with key stakeholders, like IFIE, to create holistic, evidence-based programs that include education, support for professionalism, and access to affordable advice from trustworthy financial advisers and financial planners.
“The combination of effective regulation, targeted, bias-free financial education, and guidance from a financial adviser or financial planner held to a ‘client first’ duty of care could constitute the best, and most practical, approach to helping members of the public as they take control of their financial futures and navigate an increasingly complex financial marketplace,” added Maye.
FPSB benefits 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 has a nonprofit member organization in the following 26 territories: Australia, Austria, Brazil, Canada, Chinese Taipei, Colombia, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Japan, Malaysia, New Zealand, the Netherlands, the People’s Republic of China, the Republic of Korea, Singapore, South Africa, Switzerland, Thailand, Turkey, the United Kingdom and the United States. At the end of 2016, there were 170,101 CFP professionals worldwide. For more, visit www.fpsb.org.
The International Forum for Investor Education (www.ifie.org) is a global membership organization committed to strengthening resources and standards for financial capability and investor education through such initiatives as global conferences; webinars; surveys; a resource clearinghouse; and development and distribution of best practices, implementation strategies, capacity building and leadership support. IFIE has regional Chapters in Asia, MENA and the Americas that collaborate on regional challenges in financial education, financial capability and investor education.
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