In its endeavours to set the standards for Bermuda's financial planning services, the Financial Planning Association of Bermuda (FPAB) has announced that it joined the International Certified Financial Planner (CFP) Council as an associate member.
The FPAB is a non-profit, professional regulatory organization. Its members include professionals and companies representing diverse financial services sectors including insurance, banking, broker-dealer, asset management, accounting and tax services, legal services and mutual fund/unit trusts. The FPAB believes that its new membership of the CFP Council will enhance its ability to forward the understanding and recognition of financial planning in Bermuda and will increase global awareness of the jurisdiction as a respected international financial centre.
President of the Association, Jennifer Patterson, said: 'We are pleased to be granted membership. It is an essential step in the process of uniting the financial services specialities into a respected profession in Bermuda. We also believe this will be another point scored for Bermuda in the international business community. Membership is open to anyone or any company who supports the financial planning profession on a local and/or international level. Our ultimate goal is to be a self-regulatory organization that will benefit the public by fostering professional service standards.'
Established in 1990, the International CFP Council is a forum for financial planning organizations from around the world. The Council works to establish ethical, competency and practice standards for financial planners, and increase public awareness of the benefits of financial planning. Each Council member has endorsed the Certified Financial Planner certification process as a globally recognised standard of excellence for testing and demonstrating financial planner competency and ethical behaviour.
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