Education Exemptions for CIFP-Sponsored Professional Credentials

On a case-by-case basis and upon formal, written application to CIFP, individuals may be granted an education exemption in the curricula tied to the professional credentials sponsored by CIFP based on qualifying courses and programs completed at other education institutions such as Canadian colleges and universities as well as approved education providers operating within the financial services sector. CIFP may also grant an education exemption for individuals who hold certain industry designations in good standing.

CIFP assesses the external education of the learner for currency as well as against the required learning objectives of the CIFP curriculum to ensure academic standing is warranted. CIFP employs a fair, objective and impartial process to evaluate the validity of external education as it relates to the CIFP programs of study. As such, the judgement rendered by CIFP on an education exemption application is final.

For individuals who hold a recognized industry credential in good standing, the table summarizes the education exemptions they will receive for the three designations administered by the Canadian Institute of Financial Planning.

Canadian Institute of Financial Planning (CIFP)

Industry Designation or Course Exemption Granted in CIFP Program of Study
RRA® RLIS® RFRA® RRC/CR® Chartered Financial Planner®
Registered Retirement Analyst® n/a No Exemption RFRA Part III No Exemption
Registered Life Insurance Specialist® No Exemption n/a RFRA Part III No Exemption
Registered Financial and Retirement Advisor® Full Program of Study n/a
  • RRC Part I
  • RRC Part II
  • Retirement Planning Course
  • Estate Planning units of Risk Management and Estate Planning Course
Registered Retirement Consultant® Full Program of Study n/a
  • Retirement Planning Course
  • Estate Planning units of Risk Management and Estate Planning Course
Chartered Financial Planner® Full Program of Study n/a

FP Canada

Industry Designation or Course Exemption Granted in CIFP Program of Study
RRA® RLIS® RFRA® RRC/CR® Chartered Financial Planner®
Qualified Associate Financial Planner® (QAFP®) Full Program of Study RFRA Part III RRC Part III No Exemption
Certified Financial Planner® (CFP®) Full Program of Study

STEP Canada

Industry Designation or Course Exemption Granted in CIFP Program of Study
RRA® RLIS® RFRA® RRC/CR® Chartered Financial Planner®
Trust and Estate Practitioner (TEP) No Exemption RFRA Part II RRC Part II Estate Planning units of Risk Management and Estate Planning Course
Certificate in Estate and Trust Administration (CETA) No Exemption RFRA Part II RRC Part II Estate Planning units of Risk Management and Estate Planning Course

The Institute for Advanced Financial Education

Industry Designation or Course Exemption Granted in CIFP Program of Study
RRA® RLIS® RFRA® RRC/CR® Chartered Financial Planner®
Professional Financial Advisor (PFA) Full Program of Study No Exemption
Chartered Life Underwriter® (CLU®) Full Program of Study

Canadian Securities Institute (CSI)

Industry Designation or Course Exemption Granted in CIFP Program of Study
RRA® RLIS® RFRA® RRC/CR® Chartered Financial Planner®
Personal Financial Planner (PFP®) Full Program of Study
  • RFRA/RRC Part III [if individual has PFP designation only]
  • RFRA/RRC Part I and RFRA/RRC Part III [if individual holds PFP designation and has completed the Lending, Retirement and Insurance Supplement (LRIS)]
  • Full Program of Study [if individual holds PFP designation and has completed the Lending, Retirement and Insurance Supplement (LRIS) and Law, Estate and Tax Supplement (LETS)]
  • Retirement Planning Course [if individual holds PFP designation and has completed the Lending, Retirement and Insurance Supplement (LRIS)]
  • Strategic Investment Planning Course [if individual holds PFP designation and has completed the Canadian Securities Course en route to PFP certification]
  • Full Program of Study [if individual holds PFP designation and has completed the Lending, Retirement and Insurance Supplement (LRIS) and Law, Estate and Tax Supplement (LETS)]
Chartered Investment Manager (CIM®) No Exemption Strategic Investment Planning Course
Certified International Wealth Manager (CIWM) Full Program of Study [if individual holds pre-requisite financial planning designation (e.g. PFP, CFP, CLU)]
Estate & Trust Professional (MTI®) No Exemption RFRA Part II RRC Part II
  • Estate Planning units of Risk Management and Estate Planning Course
  • Strategic Investment Planning Course
Canadian Securities Course (CSC®) No Exemption Strategic Investment Planning Course

Qualifying full credit courses and diploma/degree programs completed at Canadian colleges and universities will qualify for either a full or partial exemption in the RRC/CR, RFRA/CR or RRA programs of study. Given the number of different courses and diploma/degree programs on offer and the frequency with which they may be subject to change, applications for education exemptions are assessed on a case-by-case basis.

CIFP assesses the external education of the learner for currency as well as against the required learning objectives of the CIFP curriculum to ensure academic standing is warranted. Courses and diploma/degree programs must have been completed no longer than five years prior to the application for an education exemption to be considered current.

Individuals who hold the following professional designations in good standing may choose to challenge the final examination(s) directly for any of CIFP’s programs of study (i.e. they are exempt from completing the formal assessments that are ordinarily a mandatory component for each education program):

  • planificateur financier (Pl. Fin.)
  • bachelor of laws degree (LL.B.) or juris doctor (J.D.)
  • Chartered Professional Accountant (CPA)
  • Chartered Financial Analyst® (CFA®)
  • Fellow, Canadian Institute of Actuaries (FCIA) or Fellow, Institut canadien des actuaires (FICA)

For the Registered Retirement Consultant /Conseillers en Retraite and Conseillères en Retraite and Registered Financial and Retirement Advisor programs of study, eligible individuals who choose to pursue an alternate education pathway must still satisfy the retirement plan requirement to successfully complete the program.