inancial Planning s nternational Standard

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1 CFP Board owns the CFP certification mark. Swiss Financial Planners Organization (SFPO) has exclusive authority in Switzerland to certify individuals who successfully 1 inancial Planning s nternational Standard Nicolas Koechlin CEO SFPO Swiss Financial Planners Organization ICFC Certified Financial Consultants / Capital Bulgarian National Bank Financial Supervisory Commission VEGA-BTD, Bulgaria Conference, October 14, 2005

2 CFP Certificants

3 3 Year-end 2005 > CFP Certificants Worldwide

4 4 By ,000 CFP Certificants Worldwide

5 1990 5

6 Japan Association for Financial Planners JAFP

7 United Kingdom Institute of Financial Planning IFP 1996 Canada Financial Planners Standards Council FPSC 1996 New Zealand Financial Planners and Insurance Advisers Association FPIA

8 France Association Française des Conseils en Gestion de Patrimoine Certifiés CGPC 1997 Germany

9 South Africa Financial Planning Institute of South Africa FPI 1998 Singapore Financial Planning Association of Singapore FPAS 1999 Switzerland Swiss Financial Planners Organization SFPO

10 Malaysia Financial Planning Association of Malaysia FPAM 2000 Rep. of Korea 2000 Hong Kong Korea Financial Planner Association KFPA Institute of Financial Planners of Hong Kong IFPHK

11 India Association of Financial Planners AFP 2002 Austria 2002 Brazil Austrian Financial Planners AFP Instituto Brasileiro de Certificação de Professionais Financeiros IBCPF

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13 13 Associate Members BELGIUM Association belge des Conseillers en Planification globale de patrimoine Belgische Vereniging van Adviseurs in globale Vermogensplanning (ACP-VAV) BERMUDA Financial Planning Association of Bermuda (FPAB)

14 Potential Affiliates Asia Pacific Brunei China Indonesia Thailand Macau Philippines Caribbean Barbados Middle East Egypt Israel Saudi Arabia United Arab Emirates Euro Zone Greece Ireland Italy The Netherlands Poland Spain Sweden Turkey Bulgaria Russia South America Argentina Colombia Uruguay Venezuela 14

15 15 Why the interest in financial planning, CFP certification?

16 16 Drivers of Financial Planning (1) Consumer demand (2) Government regulation (3) Globalization (4) Process not a product

17 6-Step Financial Planning Process 1. Establishing and defining the client-planner relationship 2. Gathering client data including goals 3. Analyzing and evaluating the client s financial status 4. Developing and presenting financial planning recommendations and/or alternatives 5. Implementing the financial planning recommendations 6. Monitoring the financial planning recommendations 17

18 Consumers who have NOT benefited from working with a financial planner 14% 13% 12% 10% 8% 6% 4% 2% 1% 0% 0% Clients of CFP Certificants 1 3% Clients of non- CFP Certificants 1999, 2002 Certified Financial Planner Board of Standards Consumer Surveys 18

19 19 Drivers of Financial Planning (1) Consumer demand (2) Government regulation (3) Globalization (4) Process not a product (5) National & International financial services company support

20 20 International Support for the CFP Certification AXA Financial Services American Express Financial Advisors Charles Schwab Prudential Securities John Hancock UBS INVESCO Fidelity Credit Suisse Merrill Lynch Deutsche Bank HSBC

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23 23 International CFP Certification Program To benefit the clients and potential clients of financial planners by establishing, upholding and promoting worldwide professional standards in financial planning.

24 24 Worldwide Financial Planning Standards The Four Es Initial & Continuing Education Examination Experience Ethics & Practice Standards

25 25 Cross-Border Agreements Cooperative Policies

26 26 Awareness of Benefits of Financial Planning CFP, widely considered the gold standard for those who give financial advice. USA Today, January 24, 2004

27 27 Benefits of CFP Certification Expertise, credibility instantly communicated Career, earnings opportunities enhanced Clients are more satisfied Forefront of an evolving profession Prestige of meeting the international standard for professional financial planning

28 28 FPSB Activities Global engagement Unified CFP program Assistance of affiliated organizations Global standard setting Protection of trademarks Cooperation with local regulators Fundraising New affiliations

29 29 Future One global brand Global education program Different levels in financial planning Enforced protection of the consumers True partner to the financial industry Assistance to local regulators

30 30 Thank you! Nicolas Koechlin Krneta Partner Münzgraben 6 CH 3000 Bern koechlin@krneta-partner.ch