December 19, 2008
Announcement of successful candidates for the Second CFP® Certification Examination in 2008
The Non-Profit Organization Japan Association for Financial Planners (JAFP; Hiroshi Kato, President) will today be announcing the candidates who have successfully passed the Second CFP® Certification Examination held in 2008. This is the 27th time the examination has been held. It took place in ten regions throughout Japan on November 9 and 16, 2008, and 558 of the candidates passed all the six subjects that compose the examination. There was a total of 7,387 candidates, a figure higher than on the previous examination (the first examination held in fiscal 2008), when the examination was sat by 7,363 candidates. The pass rate was 7.6%, which was slightly lower than the figure of 8.3% recorded on the previous examination.
The 558 successful candidates will now go on to complete the Practice and Ethics Program for CFP® certification and will achieve recognition as CFP® certificants by fulfilling a further three years of experience requirement.
CFP® certification is granted only to the individuals who possess highly professional knowledge and experience, and who are able to provide the best possible financial planning advice to clients. The CFP® certification programs have been conducted in twenty countries and regions such as the United States and Canada (as of November 2008). There were 111,687 people registered worldwide as CFP® certificants (as of December 2007).
JAFP introduced the CFP® certification program into Japan in 1992, and as of December 1, 2008 there are 15,839 CFP® certificants in this country.
The CFP® Certification Examination is held twice a year by JAFP in June and November. The next examination is scheduled to be held on June 14 and 21, 2009.
October 29,2008
9,547 CFP® and AFP certificants respond concerning client needs for financial planning consultation and the type of clients seeking advice
The Non-profit Organization Japan Association for Financial Planners (JAFP; Hiroshi Kato, President) has compiled its Financial Planner Practice Survey Results, which was implemented targeting financial planners who are members of JAFP.
The survey was implemented from June to July 2008, targeting financial planners with CFP® certification and AFP certification recognized by JAFP. Questions in the survey included those on the certification status of financial planners and the status of the practice, as well as the views and evaluations of financial planning. A total of 9,547 persons provided valid responses.
(Status of Financial Planner practice)
- The most popular requests for consultation received by Financial Planners are "benefits and compensation planning," mainly concerning requests for proposals on new or revised insurance plans, accounting for more than 30% of consultations, and "financial asset planning," accounting for almost 30% of consultations.
- Hourly consultation fees are split into "5,000 to 9,999 yen" (approx. 40%), and "10,000 to 19,999 yen" (approx. 30%). * Fees can differ depending on consultation content.
(Typical Financial Planners' client)
- Most clients are either "company employees" or "company directors and executives," which accounts for approx. 30% respectively.
- The most common consultation area from individual clients is "financial asset planning," accounting for 30%.
(Utilization of Financial Planner certifications and future intentions)
- Approximately 60% of the respondents are encouraged to learn and be trained for the Financial Planner certifications by their companies.
(Views and evaluations of Financial Planning)
- Approximately 50% of Financial Planners engaged primarily in the life planning business feel that they "have gained trust from clients" after acquiring the Financial Planner certification.
- More than 30% of Financial Planners responded that the most vigorous Financial Planning business in the future is likely to be "retirement planning and life planning in post-retirement."
October 14, 2008
Use the JAFP examination to build strong household finances that will withstand price increases and economic downturns!
2nd Money and Life Planning Assessment Examination
Examination Period: November 20 (Thu) to December 10 (Wed), 2008
-- 50 up-to-date questions essential for sound life planning --
The Non-profit Organization Japan Association for Financial Planners (JAFP; Hiroshi Kato, President) will hold the "2nd Money and Life Planning Assessment Examination," a valuable examination for measuring knowledge of money and life planning, from Thursday, November 20, 2008. The examination will be implemented only on the Internet, which can be accessed at the "Money and Life Planning Assessment Examination" website: (http://m-ken.jafp.or.jp/).
The Money and Life Planning Assessment Examination is structured to test fundamental knowledge about financial planning and poses a broad range of questions from five areas: consumer lives, taxation, insurance, savings and investment, and life planning. The aim of the examination is to equip consumers with the knowledge they require concerning issues they face in daily life and life planning from a consumer's point of view. The examination on this occasion will incorporate points about the changes in the taxation and pension systems that have been revised in FY2008, posing questions about money and life planning that enable examinees to acquire and understand the most up-to-date information.
･ Examination Implementation Schedule
- Planned to be held biannually
- Examination period for the 2nd Money and Life Planning Assessment Examination: From 10:00, November 20 (Thu) to 17:00, December 10 (Wed), 2008
･ Overview of Examination
- Duration of examination: 60 minutes
- Areas to be tested: Five areas (consumer lives, taxation, insurance, savings and investment, and life planning)
- Number of questions: 50 (10 questions in each area)
- Type of questions: Multiple choice (answering from four choices)
- Examination fee: 3,150 yen (incl. tax) * Payment is by credit card only.
- Grading standards: Out of 100 points, examinees with 80 points and above will be considered to be Money and Life Planning Assessment Level A and will pass the examination.
* All examinees will be sent a "score sheet" with analysis and comments approximately two weeks after completing the examination.
October 2, 2008
Free seminars and consultations on life and money provided by financial planners from all over the country
Saturday, November 1 is "FP Day"
A month of commemorative events to be held in 47 urban and rural prefectures throughout Japan!
Big events of all kinds for consumers ranging from asset management seminars to money classes with a sense of fun
Date: From November 1 (Sat.) through 30 (Sun.)
In order to commemorate "FP Day," which is held annually on the first Saturday in November and this year falls on November 1, the Non-profit Organization Japan Association for Financial Planners (JAFP; Hiroshi Kato, President) will be holding a series of events including free seminars and consultations in connection with life and money by financial planners in every prefecture throughout Japan for a whole month between November 1 and 30. These events are being supported by the Financial Services Agency.
This year marks the fifth year in which commemorative event of "FP Day" has taken place. The slogan to be used nationwide to characterize this event is "Increase Your Knowledge of Money and Financial Well-being with Financial Planners." This is set to be the grandest and largest scale public educational activity ever held by JAFP. Aimed at consumers throughout the country, free seminars will be held in connection with asset management, home mortgage, insurance reviews, planning for life after retirement, and other money-related matters likely to prove of benefit in everyday life. We will also be organizing events for consumers such as free financial planning consultations and classes incorporating games targeted specifically children with the aim of giving them more developed awareness of financial matters naturally. Each JAFP chapter member will come together to present a series of highly original events forming part of once-a-year opportunity.
August 26, 2008
What do I need to have my dreams come true? A free big event for consumers
Presentation of the "Well-managed Life and Money Exhibition" With Mr. Yuichiro Miura, the adventurer who climbed Mount Everest at the age of 75, as a guest speaker
Including seminars on a variety of topics intended to provide hints for the realization of dreams and for better living, ranging from tips on living in the countryside to asset management
Date: October 11 (Sat.) and 12 (Sun.), 2008
Venue: Tokyo International Forum (Marunouchi, Chiyoda-ku)
On the weekend falling on October 11 and 12, 2008, the Non-profit Organization Japan Association for Financial Planners (JAFP; Hiroshi Kato, President) will be holding a "Well-managed Life and Money Exhibition" targeted consumers at the Tokyo International Forum.
The guest speaker on memorial lecture will be Mr. Yuichiro Miura, the adventurer who succeeded in climbing Mount Everest for the second time in May this year at the age of 75. A seminar will also be directed by his son, Gota Miura. The exhibition will also include a variety of seminars intended to provide tips on realizing one's life dreams and on daily living, including topics such as living in the countryside and asset management as well as exhibit space organized by financial institutions, FP-related companies or organizations.
JAFP has been holding seminars aimed at consumers during FP Fair (JAFP's annual conference) targeted financial planners for several years. There has been a growing awareness in recent years of the need for individuals to engage in life planning and take more interest in financial matters. This has led to organize a variety of events including commemorative lectures, and JAFP intends to expand these activities in this area. JAFP will continue to hold a variety of events in connection with money for the benefit of consumers.
July 17, 2008
Announcement of successful candidates for the First CFP® Certification Examination in 2008
The Non-Profit Organization Japan Association for Financial Planners (JAFP; Hiroshi Kato, President) will today be announcing the candidates who have successfully passed the First CFP® Certification Examination held in 2008. This is the 26th time the examination has been held. It took place in ten regions throughout Japan on June 8 and 15, 2008, and 610 of the candidates passed all the six subjects that compose the examination. There was a total of 7,363 candidates, a figure higher than on the previous examination (the second examination held in fiscal 2007), when the examination was sat by 7,162 candidates. The pass rate was 8.3%, which was slightly lower than the figure of 9.1% recorded on the previous examination.
The 610 successful candidates will now go on to complete the Practice and Ethics Program for CFP® certification and will achieve recognition as CFP® certificants by fulfilling for a further three years of experience requirement.
CFP® certification is granted only to the individuals who possess highly professional knowledge and experience, and who are able to provide the best possible financial planning advice to clients. The CFP® certification programs have been conducted in twenty countries and regions such as the United States and Canada. As of December 2007 there were 111,687 people registered worldwide as CFP® certificants.
JAFP introduced the CFP® certification program into Japan in 1992, and as of July 1, 2008 there are 15,775 CFP® certificants in this country.
The CFP® Certification Examination is held twice a year by JAFP in June and November. The next examination is scheduled to be held on November 9 and 16, 2008.
July 15, 2008
JAFP REPORT
Japan Association for Financial Planners FY2007
Results of "Life and Money Financial Planning Consulting Center" and "FP Public Relations Center Telephone Consultations"
1. JAFP "Life and Money Financial Planning Consulting Center" recorded a total of 471 consultations in Tokyo and Osaka combined, the largest number ever!
The "Life and Money Financial Planning Consulting Center" is a free trial consultation run by JAFP. In FY2007 the number of consultations amounted to 471 (368 in Tokyo, 103 in Osaka), and it reached the largest number ever.
The Consulting Center was established in November 2004 and since then until the end of January 2007 it has provided a cumulative total of over 1,000 consultations, with the number continuing to rise.
In response to the continuing upward trend in consultation needs, JAFP increased the number of consultation days at its Osaka branch office from once a week (every Tuesday) to include the first and third Saturday of every month from May too. JAFP is making every effort to respond to the greatest extent possible to consumers who are concerned about life planning and money.
FY2007 "Life and Money Financial Planning Consulting Center"
Breakdown of the 471 consultations by theme
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■ Greatest number of cases for consultations were for "review of life insurance policies"
Looking at the consultations implemented in FY2007 by theme, we see that the single most popular inquiry concerned "review of life insurance policies." The next most popular consultation theme was "financial asset planning," which overtook consultations concerning "review of home mortgage repayments" to challenge for the top spot. These results indicate a growing interest in regard to asset management. |
Consultation trends found in 471 cases from consumers attending the "Life and Money Financial Planning Consulting Center" FY2007
(1) Attributes of persons seeking consultations
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| As most men tend to come for consultations together with their spouses, the overall number of persons seeking consultations is characterized by a large number of women. |
Most people were in their 30s, followed by those in their 40s and those in their 50s, close to retirement. These three age brackets accounted for almost 80% of all consultations. |
2. "FP Public Relations Center Telephone Consultations"
Following on from FY2006, there were more than 1,000 cases of consultations by telephone, the grand total standing at 1,196 in FY2007 too.
"FP Public Relations Center Telephone Consultations" is a free-of-charge conslutation implemented since 1999 by FP Public Relations Centers of JAFP.
In FY2007 the total number of consultations stood at 1,196, following on from FY2006 when the number of consultations was also over 1,000.
In addition to providing advice on monetary concerns in their lives from CFP® certificants as professionals, the Center also responds to such questions as "How can I find a financial planner?" or "In what ways can I utilize a financial planner credential?"
FY2006 "FP Public Relations Center Telephone Consultations"
Breakdown of 1,113 consultation cases
(Cumulative total from April 2006 to March 2007) |
FY2007 "FP Public Relations Center Telephone Consultations"
Breakdown of 1,196 consultation cases
(Cumulative total from April 2007 to March 2008) |
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■ Greatest number of cases for consultation was for "life planning"
Looking at the cases for consultation by theme, the single largest theme which was taken up by almost 30% of people seeking consultation, was "life planning," including home mortgages and livelihood plan. The next most popular theme was "financial asset planning," including asset management, followed by the third most popular, "insurance." These three themes were by far the most popular. Although there was no change in the ranking of the top three themes from FY2006 to FY2007, the number of consultations for "financial asset planning" rose by almost 100 cases. It is assumed that this increase reflects people's concerns about their assets, due to the turmoil in the financial markets.
June 12, 2008 (Notification)
Essential reading for anyone reaching retirement age in the near future!
An introductory text for thinking about money in post-retirement.
Let's Start Retirement Planning Now-Second Life Thoughts for 50s and over
Anyone wishing to purchase the text will be able to do so at a price of 300 yen (including tax) from June.
The Non-profit Organization Japan Association for Financial Planners (JAFP; Hiroshi Kato, President) has published a text entitled Let's Start Retirement Planning Now-Second Life Thoughts for 50s and over aimed principally at the generation due to retire in the near future and giving guidance on planning for life after retirement. Sales will begin in June this year to people who have applied to JAFP's FP Public Relations Center.
In Japan, due to the falling birth rate, the aging of the population, and the decline in the working population, economic growth has fallen off, the pension system and the retirement allowance system have been reviewed, and self-help efforts by individuals have become necessary.
The text is aimed at middle-aged people who will be retiring in the near future. It offers easily understandable explanations with actual examples of the required funds and life planning after retirement. It starts from the scenario in which a married couple for whom retirement is rapidly approaching feel a vague degree of disquiet about their lives in post-retirement, with division into problems that face people prior to retirement, at the time of retirement, and after retirement. It deals with precautions that need to be taken in connection with the issue of receiving pension benefit and insurance procedures. It takes an intensive look at topics such life activities to be engaged in following retirement and inheritance concerns, and it provides the ideal introduction for thinking about how best to lead a fulfilled second life.
Blank sheets for filling out are included at the back of the text. They provide the opportunity for people to set about planning and simulating their second life while completing documents such as their own cash flow charts.
May 9, 2008
The opinions of 1,500 men and women in their 30s, 40s and 50s, i.e. the generation that is most conscious of asset management
Awareness of Asset Management and Financial Planning Survey
The Non-profit Organization Japan Association for Financial Planners (JAFP; Hiroshi Kato, President) carried out an Awareness of Asset Management and Financial Planning Survey among men and women aged between 30 and 59 in February 2008. Effective replies to the survey were received from 1,488 people.
- Around 70 percent of respondents replied that they considered life planning to be necessary.
68.3% of all respondents stated that they "felt the need for life planning," and this figure rose to 75.9% in the case of men in their 30s, considerably in excess of other attributes. It is clear that people have strong awareness of the need to plan thoroughly for the future.
- Post-retirement is the main source of concern and anxiety in terms of mapping out one's life plan.
The main sources of concern and anxiety among respondents were "life planning in post-retirement" (60.4%), "providing for illness or accident" (46.1%), and "pensions" (41.2%). Men in their 30s included the highest proportion of people conscious of life planning, and of the men in this group, "life planning in post-retirement" was the main source of concern for 46.9%, although "asset management," in third position, was a source of concern for 37.6% of the sample.
- More than 90% of all respondents stated that they were aware of financial planners. Over 90% of people who have taken part in financial planning consultation stated that they were "satisfied" with the results.
More than 90% of all respondents (90.2%) stated that they were aware of financial planners. As to the degree of satisfaction of people who had had consultations with financial planners, 90.6% replied that they were "satisfied." This shows the high degree of satisfaction with these consultations.
May 7, 2008
The second contest that provided so many inspirational entries which caused a headache for the judges!
The Second National Elementary School Essay Contest for Secrets to Have Dreams Come True
Encouraging elementary school students to describe their dreams for the future through life planning
Application Period: Sunday, June 1, 2008 to Friday, October 31, 2008
Text book: Learn through Manga Series, Secrets of Work Part 2 Secrets to Have Dreams Come True- The Works of Financial Planners in Life Planning.
The Non-profit Organization Japan Association for Financial Planners (JAFP; Hiroshi Kato: President) will hold the "Second National Elementary School Essay Contest for Secrets to Have Dreams Come True" (Application period: June 1 to October 31), for upper elementary school students who have read Secrets to Have Dreams Come True- The Works of Financial Planners in Life Planning (Gakken Co. Ltd.), which was published last year to introduce the work of financial planners in an easy-to-understand Manga-based format.
The first contest was held last year, and during the application period from August 1 to October 31, 2007, a total of 284 entries were received from all over the country. Last year, the elementary school students submitted many essays that clearly displayed their dreams and their serious attitude to life planning, so much so that it made judging the contest very difficult. It was this response that prompted JAFP to hold the contest once again. Through the text book, JAFP hopes that elementary school students will understand the importance of life planning as a means of making their dreams come true and, by encouraging them to create a specific plan for putting their dreams for the future, JAFP seeks to support personal financial education.
April 24, 2008
A guide to use of Personal Finance for Teens, a text for personal financial education aimed at senior high school students
Production of a DVD entitled "Our Personal Finance"
Start of free issue attached to the text from May this year for senior high schools and other educational institutions
The Non-profit Organization Japan Association for Financial Planners (JAFP; Hiroshi Kato, President) will begin supplying a DVD entitled "Our Personal Finance" to serve as a guide to use of Personal Finance for Teens, a text for personal financial education aimed primarily at senior high school students, from the middle of May this year.
The DVD will be distributed attached to Personal Finance for Teens, the text for personal financial education aimed primarily at educational institutions such as senior high schools published by JAFP.
The aim of the DVD is to make senior high school students aware of the need to acquire knowledge and skills in connection with money. A story format is used with a senior high school student as the leading character, who has to confront a variety of money-related problems as he grows up. The content is in line with that of the text for personal financial education Personal Finance for Teens.
The DVD takes a look at problems involving money in five stages, including car loans, home mortgage, and insurance. The leading character meets his partner, and the story involves him getting over the various difficulties that come his way. JAFP hopes that use of this DVD together with the text in each educational institution will contribute to the promotion of personal financial education.
April 1, 2008
Osaka Branch Office: Free consultations for financial planning
Life and Money Financial Planning Consulting Center is expanding to open also on Saturday!
Responding to demand for company employees and others who are busy working on weekdays
First and third Saturdays of the month beginning on May 17, 2008
The Non-profit Organization Japan Association for Financial Planners (JAFP; Hiroshi Kato, President) will be expanding the days on which it provides consultations at its Osaka branch office at Dojimahama, Kita-ku, Osaka. From Saturday, May 17 this year, the "Life and Money Financial Planning Consulting Center" providing free of charge consultations on financial planning for consumers will be available also on Saturdays. This is the first time that the JAFP Osaka branch office has opened on Saturdays for free financial planning consultations.
The "Life and Money Financial Planning Consulting Center" involves CFP® certificants who have senior financial planning credential provided by JAFP providing advice to consumers. Hitherto the Osaka branch office has been providing consultations once a week every Tuesday to three groups (in order of application) between 10:00 and 14:00, with 50 minutes allocated to each group. The consultations are provided free of charge on just one trial occasion, and applications are made through telephone bookings.
JAFP runs the "Life and Money Financial Planning Consulting Center" with the aim of promoting financial planning activities. In Tokyo consultations are provided on Tuesday, Thursday and Saturday, and the Tokyo headquarter is fully booked until the end of May. In Osaka too the service is proving extremely popular, with bookings no longer available until May. JAFP has decided to increase the days on which consultations are available in Osaka in order to accommodate company employees who are busy working on weekdays.
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