Financial information has never been more readily available to consumers. But if you're like most people, you just don't have the time to wade through mountains of information to help you plan your financial future. What you need is a professional financial advisor. Your financial advisor will help you sort out your short and long term financial goals and use their training and experience to construct a financial plan that will help you meet your goals.

CAIFA is committed to helping its members more effectively serve their clients. Members are dedicated professionals and all members must either have, or be on a track towards completing the requirements for a Certified Financial Planner (CFP) or Chartered Life Underwriter (CLU) designation, in order to qualify and retain CAIFA membership.

Here's a guide to designations to look for when choosing a financial advisor. If you need specialized advice, you may want to look for an advisor with a designation that indicates expertise in that specialty.

Insurance and financial advisors can study for the CFP, CLU, RHU and REBC designations through CAIFA.

Certified Financial Planner, CFP

The Certified Financial Planner (CFP) designation is an internationally recognized standard for financial planning. It is granted by the Financial Planners Standards Council (FPSC). CAIFA is one of the FPSC's founding member organizations offering courses leading to the CFP designation. An advisor with a CFP may help you with personal financial planning and offer advice on investment products and strategies.

Chartered Life Underwriter, CLU

A Chartered Life Underwriter (CLU) is a financial advisor with advanced knowledge in life and health insurance and employee benefits. There are six courses required to receive the CLU designation. Usually, it takes a student between two and three years to earn the CLU designation, on a part-time basis. An advisor with a CLU specializes in advice on life insurance needs, tax planning and may also offer assistance in financial planning for business owners.

Chartered Financial Consultant, CH.F.C.

A Chartered Financial Consultant (CH.F.C.) is a financial advisor with advanced knowledge in wealth accumulation and retirement planning. There are six courses required to receive the CH.F.C. designation. An advisor with a CH.F.C. is an expert in retirement planning and capital accumulation strategies.

Registered Health Underwriter, RHU

A Registered Health Underwriter (RHU) is an insurance advisor with advanced knowledge in disability insurance and health benefits. There are two courses required to receive the RHU designation and students can earn the RHU designation over two semesters, if they meet CAIFA prerequisites. An advisor with an RHU has acquired the knowledge to offer advice on individual disability income insurance needs.

Registered Employee Benefits Consultant, REBC

CAIFA began offering courses leading to the Registered Employee Benefits Consultant (REBC) designation beginning in 1997. An advisor with an REBC designation is versed in group insurance programs, planning for retirement and employee benefits.

There are also a number of other industry designations, including:

Canadian Investment Management, CIM

Advisors with the CIM designation are trained to offer advice on structuring a stock portfolio. It is conferred by the Canadian Securities Institute and indicates successful completion of courses in investment management and portfolio management.

Chartered Accountant, CA

Advisors with the CA designation are trained to provide advice in accounting, auditing and tax planning. The CA program combines academic study, professional education and practical working experience and ensures that students develop analytical, financial, accounting, communication and leadership skills.

Certified General Accountant, CGA

Advisors with the CGA designation are members of the Certified General Accountants Association: a training, standards setting and regulatory body; an advocacy organization; and a professional network. Certified general accountants have completed the CGA program of professional studies, which combines thorough and rigorous training in theoretical and analytical knowledge, together with practical work experience. The result is an advanced body of taxation and financial planning professionals prepared for the business world of today and the future.

Registered Financial Planner, RFP

The RFP designation is conferred by the Canadian Association of Financial Planners and indicates expertise in financial planning. RFPs must have a sample comprehensive financial plan pass peer review to earn the designation.