Press Release

More practitioners and other professionals pursue CFPCM certification (18th February 2009, Hong Kong) The Institute of Financial Planners of Hong Kong (“IFPHK”) today announced the results of the 15th CFP Certification Examination that attracted 3,543 candidates. “We are happy to see that there are not only more practitioners going through the CFP certification process and getting the certification but also candidates from other professions, such as medical doctor, engineer, teacher and reporter are taking the CFP certification examination. Getting the CFP certification does not only give you industry and international recognition but also increase a financial planner’s competitive edge. Ultimately, the rise in standards through attaining the CFP certification mark will benefit the general public,” said Ms Angeline Chin, CEO of IFPHK. To attain the CFP certification mark, all candidates are required to go through the stringent 4E CFP certification process, which includes Education, Examination, Experience and Ethics. All CFP professionals need to also demonstrate their professionalism by voluntarily adhering to the rigorous CFP certification process, continually updating their abilities through Continual Education activities, and abiding by IFPHK’s Code of Ethics and Professional Responsibility. Examination details: Pass Rate The average pass rate of the four papers is 42.7%. The pass rate of Paper 1 on Insurance and Retirement Planning, Paper 2 on Tax & Estate Planning, Paper 3 on Investment Planning, and Paper 4 on Financial Planning Practice are approximately 50%, 43%, 40% and 38% respectively. Language preference Candidates can choose to take each paper in English, Traditional Chinese or Simplified Chinese. In the latest examination, more than 60% of the candidates took the English version of each of the 4 papers. Candidate Profile More than 97% of the candidates had completed the IFPHK Registered CFPCM Certification Education Program before sitting for the examination for each paper. Most candidates were from the 20-39 age group, representing 73% of the candidates sitting for Paper 1, 74% of candidates sitting for Paper 2, 70% of candidates sitting for Paper 3, and 68% of candidates sitting for Paper 4. In terms of industry sector, majority of the candidates came from Retail Banking, representing 36% of candidates sitting for Paper 1, 33% of candidates sitting for Paper 2, 32% of candidates sitting for Paper 3, and 32% of candidates sitting for Paper 4. For more information on the statistics of December 2008 CFP Certification Examination results, please click here. CFPCM, CERTIFIED FINANCIAL PLANNERCM and are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. (FPSB). The Institute of Financial Planners of Hong Kong is the marks licensing authority for the CFP marks in Hong Kong and Macau, through agreement with FPSB.

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