Frequently Asked Questions (FAQ)

The FPTPA was proclaimed into force on March 28, 2022.

Prior to the implementation of the title protection framework, there were no regulatory requirements with respect to individuals using the FP and FA titles in Ontario.

The title protection framework establishes minimum standards of education for individuals using the FP and FA titles, and ensures these individuals are actively supervised by a FSRA-approved credentialing body and are subject to complaints and disciplinary processes.

For more background information on the title protection framework, please visit FSRA’s website.

Subject to the transition provisions, effective March 28, 2022, only individuals that hold a FSRA-approved credential from a FSRA-approved credentialing body will be permitted to use the FP and/or FA titles in Ontario.

Credentialing bodies are required to maintain a public registry of individuals holding approved credentials it has issued and the type of credential issued to each individual.

Members of the public can refer to the credentialing body’s public registry to validate if the individual they are working with holds a FSRA-approved credential for the use of the FP and/or FA title.

FSRA maintains an up-to-date list of FSRA-approved credentialing bodies and FSRA-approved FP and FA credentials on its website. The list also includes a link to each credentialing body’s public registry.

The FPTPF applies to all individuals who wish to use the FP or FA titles in Ontario (this includes individuals who work at banks or who are registered with a self-regulatory organization).

FSRA differentiates FP and FA by establishing different levels of technical knowledge, professional skills and competencies that would be reasonably expected of each title user.

FAs are expected to have technical knowledge of at least one common investment product, as well as the necessary expertise and experience to develop suitable financial and investment recommendations for retail clients.

In contrast, FPs are expected to be able to develop integrated financial plans for clients. These financial plans would include a holistic analysis of a client’s financial circumstances. Financial planners are expected to be proficient in all of the core personal finance areas, which include estate planning, tax planning, retirement planning, investment planning and alternatives, finance management, and insurance/risk management.

No, the title protection framework does not grant exemptions for any class of individual or entity.

Yes, FSRA has established a fee structure to support its mandate to operate as an independent, self-funded regulator.

FSRA collects fees directly from approved credentialing bodies. FSRA does not collect fees from credential holders.

Credentialing bodies have discretion on how best to recover the costs associated with participation under the framework from their respective credential holders.

The fees collected by FSRA are meant to cover ongoing regulatory costs to oversee the sector, such as supervising and monitoring credentialing bodies, handling complaints, etc.

For more information on the fee structure for the FPTPF, please visit Rule – Assessments and Fees.

The FPTPF applies to the use of FP and FA titles and titles that could reasonably be confused with the FP or FA titles in Ontario.

In designing the FPTPF, FSRA considered how the different requirements could be harmonized with other Canadian jurisdictions in order to mitigate the regulatory burden for individual title users as well as companies and/or designation bodies that may operate nationally.

If you have clients in other provinces in Canada, you must determine whether the Canadian jurisdiction you are working in has implemented any title protection regulations.

If you hold a FSRA-approved credential from a FSRA-approved credentialing body and are in good standing, you may continue to use the FP/FA titles. You should contact the credentialing body that issued your credential to learn about the requirements you must meet to maintain your credential.

If you used the FP or FA title on or before January 1, 2020, and you currently do not hold an approved credential from a FSRA approved credentialing body, you may only continue to use the title during the transition periods outlined below:

• For the Financial Planner credential: 4 years from the date the FPTPA came into force (March 28, 2022).
• For the Financial Advisor credential: 2 years from the date the FPTPA came into force (March 28, 2022).

If you wish to continue using your title after the transition period, you must obtain a FSRA-approved credential from a FSRA-approved credentialing body. For more information about the transition periods, please visit FSRA’s website.

No, you are not eligible for the transition provision. If you commenced using the FP or FA titles after January 1, 2020, you are only permitted to use the FA or FP titles once you obtain a FSRA-approved credential from a FSRA-approved credentialing body.

For more information about the transition periods, please visit FSRA’s website.

No. It is each title user’s responsibility to determine whether they qualify for the transition period and / or whether FSRA has approved the designation or licence as an approved credential.

Title users must also take the necessary steps to obtain an approved credential from an approved credentialing body before the transition period expires.

Failure to do so will result in the loss of the right to use the FP or FA title in Ontario.

The Financial Professionals Title Protection – Supervisory Framework Guidance sets out how FSRA will interpret titles that could reasonably be confused with the FP and FA titles.

According to the Supervisory Framework Guidance, the following are a few examples of titles that could be reasonably confused with the FP and FA titles:

Examples of titles that could reasonably be confused with the FP title:

• any variation in spelling or abbreviation of Financial Planner (e.g. FP)
• ________ Financial Planner (e.g. Senior Financial Planner, Qualified Financial Planner, etc.)
• Financial ________Planner (e.g. Financial Wealth Planner, Financial Investments Planner, etc.)
• Financial Planner _________ (e.g. Financial Planner Investments)
• Financial Planning _________ (Advisor, Adviser, Coach, Consultant, Counsellor, Guru, Manager, etc.)
• any variation of the above titles in another language

Examples of titles that could reasonably be confused with the FA title:

• any variation of spelling or abbreviation of Financial Advisor (e.g. Financial Adviser, FA)
• ________ Financial Advisor (e.g. Senior Financial Advisor, Qualified Financial Advisor, etc.)
• Financial ________Advisor/Adviser (e.g. Financial Wealth Advisor/Adviser, Financial Investments Advisor/Adviser, etc.)
• Financial Advisor _________ (e.g. Financial Advisor Investments)
• Financial Advising ________ (Coach, Consultant, Counsellor, Guru, Manager, etc.)
• any variation of the above titles in another language

If you do not hold a FSRA-approved credential and you believe you might be using a title that could reasonably be confused with the FP or FA titles, refer to the Financial Professionals Title Protection – Supervisory Framework Guidance for more information.

If you are still unsure whether the title you are using could reasonably be confused with the FP or FA titles, you may contact FSRA at [email protected] for clarification.

FSRA’s role and responsibilities include:

• Approving organizations as credentialing bodies
• Establishing minimum standards for credentialing bodies and FP and FA credentials
• Approving credentials for FP and FA title use
• Supervising approved credentialing bodies
• Taking enforcement action for breaches of the FPTPA
• Investigating complaints against approved credentialing bodies
• Investigating complaints against organizations claiming to offer approved credentials or carrying on business as an approved credentialing body without FSRA’s approval
• Investigating complaints against individuals using the FP or FA title or a title which could be reasonably confused with the FP or FA title without holding an approved credential

The roles and responsibilities of a credentialing body include:

• Granting approved credentials
• Overseeing the conduct of credential holders
• Investigating complaints regarding the conduct of credential holders
• Imposing disciplinary actions against credential holders

FSRA does not oversee the conduct of individuals who hold an approved credential from an approved credentialing body. It is the responsibility of the approved credentialing body to oversee the professional conduct of their respective credential holders.

FSRA will oversee credentialing bodies to ensure they continue to meet the minimum standards outlined in the FPTPA and the Financial Professionals Title Protection Rule.

FSRA has jurisdiction to handle the following types of complaints:

• Complaints against a FSRA-approved credentialing body
• Complaints against organizations that refer to themselves as an approved credentialing body and/or claim to offer an approved credential without FSRA approval.
• Complaints against individuals who are using the FP and FA titles without holding an approved credential
• Complaints against an individual who is using a title that could reasonably be confused with FP or FA without an approved credential

For more information on how to file a complaint, please visit the FSRA website.

FSRA does not have jurisdiction over:

• Investigating complaints against the conduct of individuals who hold an approved credential from an approved credentialing body

Credentialing bodies are responsible for overseeing the conduct of credential holders. Individuals can submit complaints regarding the conduct of a credential holder to the credentialing body responsible for granting the credential to that credential holder.

Individuals interested in submitting a complaint regarding the conduct of a credential holder to a credentialing body should contact the credentialing body directly and/or visit the credentialing body’s website.

FSRA maintains an up-to-date list of FSRA-approved credentialing bodies and credentials on its website. The list also includes a link to each credentialing body’s website where the individuals can access to submit a complaint.