The Professional Financial Advisor™ (PFA) Module Descriptions

Professional Financial Advisor (PFA) Course 1

$ 225 + applicable taxes for Advocis Members.
Non members pay $425 + applicable taxes.
  • Content on-demand
  • Access to corporate trainer and recorded webinars
  • Customizable study schedules

Professional Financial Advisor™ (PFA™) Module Descriptions

PFA Course 1: Business Elements

In Business Elements, we examine the fundamentals of launching a financial advisory practice: developing a business plan, a marketing strategy and the discipline of prospecting for clients. This course encompasses the disciplines of Practice Development, Compliance & Regulatory Topics for Financial Advisors and Financial Planning.

Estimated Time: 159 study hours

Window for completion: 6 months

Course Exam Format

  • Online Exam
  • Closed-Book Exam
  • Application based multiple-choice questions
  • Passing Mark: 60%

CE Credits

  • The Institute: 15
  • Alberta Insurance Council: 15 Life
  • Chambre de la sécurité financière: 8 PDUs (General Subject), 7 PDUs (Compliance)
  • Insurance Council of Manitoba: 15
  • Insurance Councils of Saskatchewan: 15
  • FP Canada: 10 Financial Planning; 5 Practice Management
  • MFDA: 15 PD
Candidates seeking CE or PDU credits for professional designations or organizations should contact the governing body for confirmation of CE/PDU qualification
 

Pricing

Member price: $225 (add GST/HST)

Non-Member price: $425 (add GST/HST)

PFA Course 2: Enhancing Client Connections

In Enhancing Client Connections, we begin to examine the client – advisor relationship. You will learn the best practices for initiating client relationships as well as developing and strengthening them. This course pulls from the disciplines of Practice Development, Compliance & Regulatory Topics for Financial Advisors and Financial Planning.

Estimated Time: 196 study hours

Window for completion: 6 months

Course Exam Format

  • Online Exam
  • Closed-Book Exam
  • Application based multiple-choice questions
  • Passing Mark: 60%

CE Credits

  • The Institute: 15
  • Alberta Insurance Council: 15 Life and 15 A&S
  • Chambre de la sécurité financière: 2 PDUs (General Subject), 5 PDUs (Compliance), 3 PDUs (Insurance of Persons) and 5 PDUs (Mutual Funds)
  • Insurance Council of Manitoba: 15
  • Insurance Councils of Saskatchewan: 15
  • FP Canada: 10 Financial Planning; 5 Practice Management
  • MFDA: 15 PD

Candidates seeking CE or PDU credits for professional designations or organizations should contact the governing body for confirmation of CE/PDU qualification

Pricing

Member price: $225 (add GST/HST)

Non-Member price: $425 (add GST/HST)

PFA Course 3: Building Client Value

In Building Client Value, we examine four common financial planning goals. You will learn about the data you need to collect from your client to analyze their current situation, the financial planning tools required to complete the analysis, how to conduct the analysis and interpret your findings. Finally, you will learn about the strategies and best practices for communicating your findings to your client and the most appropriates means for delivering your advice. The course presents a real-life client scenario in which these skills are demonstrated. Click Advocis PFA Program Outline for more details.

Estimated Time: 213 study hours

Window for completion: 6 months

Course Exam Format

  • Online Exam
  • Closed-Book Exam
  • Application based multiple-choice questions
  • Passing Mark: 60%

CE Credits

  • The Institute: 15
  • Alberta Insurance Council: 15 Life
  • Chambre de la sécurité financière: 3 PDUs (General Subject), 4 PDUs (Compliance), 3 PDUs (Insurance of Persons) and 2 PDUs (Group Savings Plan)
  • Insurance Council of Manitoba: 15
  • Insurance Councils of Saskatchewan: 15
  • MFDA: 15 PD
Candidates seeking CE or PDU credits for professional designations or organizations should contact the governing body for confirmation of CE/PDU qualification
 

Pricing

Member price: $225 (add GST/HST)

Non-Member price: $425 (add GST/HST)

PFA Course 4: Fine Tuning Your Practice and The Value of Advice

In Fine Tuning Your Practice, we guide you through a review of your existing work habits and explore ones that could be more effective for you. We also revisit the personal and business goals you developed in Course 1 – Business Elements. For most of you it has been approximately a year and a half since you established your marketing plan. In this module, we will provide you with methods to analyze the success of your business and measures to evaluate your marketing plan.

This module also focuses on how you can best protect your financial advisory practice. Topics discussed include the importance of liability (E&O) insurance, managing client expectations, and taking advantage of educational and mentorship opportunities.

In The Value of Advice, we explore and recognize the unique value you provide to your clients. We offer suggestions on how to orient your practice toward providing the highest value possible in your financial advisory practice. Most importantly, in the second half of the module, we offer best practices on how to communicate the value you provide to your clients and prospective clients. Included in the module are tips on how to evaluate your current communications practices and develop a communications strategy.

Estimated Time: 100 study hours

Window for completion: 6 months

Course Exam Format

  • Online Exam
  • Closed-Book Exam
  • Application based multiple-choice questions
  • Passing Mark: 60%

CE Credits

  • The Institute: 15
  • Alberta Insurance Council: 10 Life and 10 A&S
  • Insurance Council of Manitoba: 15
  • Insurance Councils of Saskatchewan: 15
  • MFDA: 15 PD
Candidates seeking CE or PDU credits for professional designations or organizations should contact the governing body for confirmation of CE/PDU qualification

Pricing

Member price: $225 (add GST/HST)

Non-Member price: $425 (add GST/HST)

PFA Final Comprehensive Exam

The Final Comprehensive Exam is scheduled two times a year ( May and November). PFA candidates are required to select the exam that is scheduled closest to their successful completion of Course 4: Fine Tuning your Practice and The Value of Advice.

Comprehensive Exam Format

  • Online Exam
  • Closed-Book Exam
  • Application based multiple-choice questions
  • Passing Mark: 60%

Pricing

Member price: $150 (add GST/HST)

Non-Member price: $350 (add GST/HST)

PFA Final Comprehensive Exam Schedule

Next Exam: November 27, 2024

Registration for the November 27, 2024 PFA exam date opens on October 2, 2024.

2024 Schedule

Exam Date(s)Registration Opens on:Registration Closes on:

November 27, 2024

(12:00 PM – 3:00 PM)

October 2, 2024November 20, 2024

2025 Schedule

Exam Date(s)Registration Opens on:Registration Closes on:

May, 28, 2025

(12:00 PM – 3:00 PM)

April 2, 2025May 21, 2025

November 26, 2025

(12:00 PM – 3:00 PM)

October 1, 2025November 19, 2025