The Chartered Financial Divorce Specialists (CFDS) course focuses on all financial aspects associated with the cohabitation, separation or divorce process, including but not limited to the determination of assets and liabilities, support obligations, property division, pension evaluation, taxation implications, insurance requirements, cash flow, net worth outcomes and budgeting.
The legal community recognizes that only those with a financial planning designation are acceptable to engage in this complex area of practice. Anyone holding one of the following designations and working in the industry, may enroll in the CFDS training:
Note that no exceptions will be made, you must be in good standing with one of the following designations:
1. Certified Financial Planner (CFP)
2. Personal Financial Planner (PFP)
3. Registered Financial Planner (R.F.P.)
4. Certified General Accountant (CGA)
5. Certified Management Accountant (CMA)
6. Chartered Accountant (CA)
7. Chartered Professional Accountant (CPA)
8. Chartered Life Underwriter (CLU)
9. Chartered Investment Manager (CIM) with proof of taking the Fundementals of Financial Planning (FOFP) course
10. Certified Internal Auditor (CIA)
What can you expect?
The course is offered online and in an in-class. Both venues provide the same material, only the learning format is different. The course takes approximately 80 hrs minimum to complete and include 4 online exams, one practice case study and one final case study submission. During the course you can expect to learn about the following (from our syllabus):
Concepts connected to separation and divorce
Chartered Financial Divorce Specialists role
Practice Standards and Conduct
Calculating Worksheets – cash flow/budget needs & net worth
Taxation –specific to separation and divorce
Legal understanding of terminology
Asset and debt division
Pensions – public and private
Support – child and spousal
Risk management issues –insurance concerns
Practice and process procedures and tools
Legal process & Collaborative practice
Case Studies’ applications utilizing the software
Client interaction/management techniques
In addition to extensive course content, including resource materials related to the professional practice and marketing, we also provide tools such as an advanced calculating worksheet and a specialized software to assists with financial projections.
What you will gain?
Upon successful completion of the course, students are awarded the distinguished designation of Chartered Financial Divorce Specialist (CFDS). They also receive various CE credits as listed below:
|The Institute of Advanced Financial Education (Advocis)||30|
|Financial Planning Standards Council (FPSC)||40|
|Investment Industry Regulatory Organization of Canada (IIROC)||30|
|Insurance Council of Saskatchewan (ICS)||13|
|Alberta Insurance Council (AIC)||30|
|Institut québecois de la planification financière (IQPF)||14|
|Chambre de la sécurité financière||30|
|Insurance Council of Manitoba||24|
Graduates are listed in our "Recent Graduate" feed located on the main page of www.afds.ca and added to our directory of specialists. Members in good standing have access to an online resource portal that gives them exclusive content such as: forums, cohabitation/separation/divorce documentation, access to the Perspectives Software (TM), custom excel spreadsheet, webinars and more.
Academy of Financial Divorce Specialists policy here: AFDS Policies
Don't hold the correct designation?
If you hold a Lawyer, Mediator or Divorce Coach designations, you can be an Associate Member of the Academy of Financial Divorce Specialists. Associate members are added to the Member Directory, have access to resource materials, course content and calculating worksheets. Note that Associate Members are not permitted to use the CFDS designation in any capacity and will not be granted access to the Perspectives Software©. Click here to become an Associate Member.