Sharing Canadian experience:

Personal Financial Planning

Brief overview of the current state of the world economies

About myself

My name is Mila Gibner. I work as Financial Paraplanner

(Assistant Consultant) at TE Wealth, the financial planning firm with more than 40 years of history in Calgary, in the province of Alberta in Canada.

I am an FPSC Level 1 certificant in personal financial planning (see fpsc.ca).

When I was studying in SSU I took part at the Global Social Entrepreneurship Competition (Seattle, USA) in 2011 as a semi-finalist with our own business plan.

Who is Certified Financial Planner (CFP)?

A professional who:- can provide sound financial advise in all areas of personal finances and - is licensed with Financial Planning Standards Council (FPSC)

Path to become a CFP (simplified):

• Complete FPSC-Approved Core Curriculum program

• Pass FPSC Level 1 examination• Take an FPSC-Approved Capstone Course• Pass CFP Examination• Complete 3 years of qualifying work experience

Regulated Occupations and LicensingFPCS issues Certified Financial Planning license.

Other regulated occupations examples:

Accountants, engineers, various brokers, doctors, lawyers, various professional consultants, etc. - Regulated by its own licensing organization which are not

government entities- Establishing and enforcing regulatory standards in the

occupation- Financed mainly with the annual fees of the professionals

and through granting educational institutions the rights to provide certified educational courses

Investment Industry Regulatory Organization of Canada (IIROC)Mutual Fund Dealers Association (MFDA)Not a government agencies!

Self-Regulatory Organizations (SROs)

I wish something like this would be in Ukraine someday:

What is Personal Financial Planning?

Six Pillars of Financial Planning:• Financial Management• Investment Planning• Insurance and Risk Management• Tax Planning• Retirement Planning (Пенсионное планирование)

• Estate Planning and Legal Aspects (Планирование наследства)

What does TE Wealth do?

from http://www.tewealth.com/

Brief overview of the current Canadian economy

Oil-dependent economy Currently considered to be in technical recession Government takes steps to stimulate the

economy:- very low overnight rate – 0.5%,

subsequently prime rate is low too – 2.70%. These boosts consumer spending and business activity (Downside: asset values “inflation”).

- Canadian dollar is a "pure" floating currency, now its exchange rate to US dollar touched 11 year low (now $1CAD is $0.75US). This boosts exports (caution: threat to productivity).

Biggest world economy and biggest trades partner of Canada.Boom in the oil sector in 2014 gave boost to the economy: lower gasoline prices and more jobs increased consumer spending.Fed considers to increase interest rate at the end of 2015 or early 2016. Concerns:

- “expensive” US dollar hurts export oriented companies

- shale oil may be running out- stock market correction (Note:

Behaviorism)

Brief overview of the current USA economy

China: Economic growth slowdown in second largest

economy (from 8% and more annual GDP growth down to 4-6%).

Significant stock market correction – “Black Monday”.

Government tries to stimulate economy: - cut the interest rates- devaluated the Chinese yuan

Europe: In January European Central Bank started the policy

of the quantitative easing Refugee crisis Greece bailout deal (minor issue)

Brief overview of the current world economy

Use international experience for Ukraineand dream big.

Thank you for your attention!