Russia and US financial planning body sign MoU
The Russian National Association of Securities Market Participants (NAUFOR) and the US-based Financial Planning Standards Board (FPSB) have signed a Memorandum of Understanding (MOU) in the area of certification for investment management and financial advisers in Russia.
FPSB is the owner of the international Certified Financial Planner certification outside the US.
Under the terms of the agreement, NAUFOR and FPSB would work together to develop standards, training content and certification exams with regard to investment management and financial advice.
Although the standards would be based on the global financial planning requirements developed by FPSB, they would take into account information on products, laws and culture relevant to the Russian market.
According to the FPSB, Russian investment and financial advisers who would participate in the training may also wish later to “pursue attainment of the world-famous CFP certification”.
FPSB’s chief officer, Noel Maye, said: “FPSB will bring our experience gathered in 26 countries around the world building the global financial planning profession and certified financial planner program to support the professionalisation of financial advisory practices in Russia, and to foster increased consumer trust in and dealing with the Russian securities market”.
“FPSB is pleased to partner with NAUFOR on developing standards and education programs for investment management and financial advice practitioners in Russia, to benefit consumers and raise professionalism.”
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