FPSB Accepts Indonesian Foundation As Newest Member

FPSB Indonesia To Administer CFP Certification In World’s Fourth Most Populous Country By 2007

Jakarta, 16 May -- Financial Planning Standards Board Ltd. (FPSB), the owner of the CFP, CERTIFIED FINANCIAL PLANNER and CFP(with flame logo) marks outside the U.S., today announced that it has entered into an Associate Membership Agreement with Financial Planning Standards Board Indonesia (FPSB Indonesia) that will allow the nonprofit foundation to develop, and become the exclusive administrator of, the CFP certification program in Indonesia. Once FPSB Indonesia has met FPSB’s rigorous affiliation requirements, the foundation will be able to offer the CFP marks on behalf of FPSB in Indonesia.

“The commitment and focus that FPSB Indonesia has shown toward establishing a financial planning profession in Indonesia that will benefit consumers, and that is based on CFP certification standards, greatly impressed Financial Planning Standards Board,” said Elaine E. Bedel, CFP, FPSB Chairperson. “FPSB is proud to have FPSB Indonesia become our newest member, and will support FPSB Indonesia in its efforts to establish financial planning as a distinct practice and ensure that Indonesians will be able to identify and access competent and ethical financial planning professionals.”

“Financial Planning Standards Board’s confidence in FPSB Indonesia’s ability to deliver the CFP certification program in Indonesia is greatly appreciated, and largely due to the diligence and efforts of many industry players who are passionate about financial planning, about standards and about consumer protection,” said Tri Djoko, FPSB Indonesia Chairman. “FPSB Indonesia’s goal is to be able to offer CFP certification by early 2007 and we anticipate having 350 CFP professionals in our country by mid 2007.”

An organization must complete substantial preparations before it is ready to offer the world-class CFP certification program. By entering into an Associate Membership Agreement with FPSB, FPSB Indonesia has agreed to establish and develop – within two years – programs, systems and resources to deliver CFP certification. While an Associate member, FPSB Indonesia is not authorized to award the CFP marks to individuals.

FPSB is governed by a nine-member international board of directors and supported by the FPSB Council, an advisory group representing 18 organizations (FPSB Affiliates) that currently manage the CFP certification in their respective countries and two organizations in the process of becoming FPSB Affiliates, one of which is FPSB Indonesia. Countries or regions where FPSB has a nonprofit member organization that offers, or is preparing to offer, CFP certification include: Australia, Austria, Belgium, Brazil, Canada, Chinese Taipei, France, Germany, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, the People’s Republic of China, the Republic of Korea, Singapore, South Africa, Switzerland and the United Kingdom. There are currently about 100,000 CFP professionals worldwide.

FPSB manages, develops and operates certification, education and related programs for financial planning organizations so that they may benefit and protect the global community by establishing, upholding and promoting worldwide professional standards in financial planning. FPSB’s commitment to excellence is represented by the marks of professional distinction – CFP, CERTIFIED FINANCIAL PLANNER and CFP(with flame logo).

FPSB Indonesia is a nonprofit foundation facilitated, founded and funded by Financial Planning Association Indonesia (FPAI) and Institute Financial Planning Indonesia (IFPI) to affiliate with FPSB and administer the CFP certification program to benefit consumers and establish financial planning as a profession in Indonesia. FPSB Indonesia is supported by a broad cross section of financial services firms including: AIA, AIG, AXA, AXA Mandiri, Bank Mandiri, Bank Lippo, Bank ABN AMRO, Bank Lippo, Bank Central Asia, Commonwealth Bank, Panin Life, Danareksa and Schroders. For more, visit www.fpaindonesia.org.