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Are You a Personal Financial Planner? Yes, you probably are, even if you don’t think of yourself that way.
When it comes to your individual clients, it’s only natural that they come to you with their financial questions. How much do I need to save to retire comfortably? What amount is safe to withdraw from my portfolio during retirement? What’s the best way to share my estate? If you’re providing answers to these questions, even on a limited basis, then you are a personal financial planner.
This distinction will become critically important once the new Statement on Standards in Personal Financial Planning Services No. 1 (the Statement) takes effect. The Statement elevates longstanding professional principles to authoritative, enforceable guidance for personal financial planning.
To help all of our members understand the Statement’s depth, and put it into practice, we have developed the Standards in Personal Financial Planning Services: Compliance Toolkit. In the Toolkit you’ll find:
This Toolkit will help you prepare for the competency requirements and educate your staff about the provisions of the Statement. Implementing the Standard will raise the level of professionalism and ethical conduct within your firm—and help you advise your clients with confidence.