CAIFA and CAFP Meet to Discuss Single Professional Organization

Toronto (January 15, 2002) Representatives of the Boards of
Directors of CAFP and CAIFA met in Toronto on January 12, 2002 to discuss the feasibility
of forming a single professional association of financial planners and advisors. This
group identified a number of issues that warrant further consideration.

These confidential discussions will take place over the next few months.
As circumstances dictate, the two organizations will provide additional information.

The Canadian Association of Financial Planners is the
membership organization for Canada’s practicing financial planning professionals. Its
3,300 members have the ethics, the education, the experience and the expertise to help
Canadians make the best financial decisions.

The Canadian Association of Insurance and Financial
Advisors (CAIFA) is a voluntary, not-for-profit professional association whose members,
gathered in 51 chapters, are represented in most major cities and towns across the
country. CAIFA is a founding member of the Financial Planners Standards Council (FPSC),
the body that grants the CFP designation. CAIFA members provide financial advice, and
market and sell financial products to over nine million Canadians.