Who Owns “Financial Planning”? Lessons from the US, UK, and Canada
Who really “owns” financial planning?
In the UK, the FCA regulates advising on investments—but not financial planning itself. Under PERG 8.26, planning only crosses the regulatory perimeter when it involves a personal recommendation about a particular investment.
The U.S. learned this lesson the hard way. In FPA v. SEC (2007), the court struck down an SEC attempt to reserve the title “financial planner” exclusively for registered investment advisers. The ruling confirmed that financial planning is a multi-disciplinary profession, not just product distribution.
Canada is moving too: Québec regulates the practice of financial planning, and since 2022 Ontario has introduced title protection for “Financial Planner” and “Financial Advisor.”
👉 The global message is clear: financial planning is not the same as selling investments. It’s about life goals, cashflow, tax, estate, and human capital strategies—putting people before products.
If we want a profession that truly serves the public, we must reclaim financial planning as a life-first discipline.
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