|
Acronym |
Description |
| CDIC - Canada Deposit Insurance Corporation |
A corporation set up by the government to protect investments and deposits in financial institutions. |
| CPI - Consumer Price Index |
A statistical device that measures the increase in the cost of living for consumers. It is used sometimes to illustrate the extent that prices in general have risen or the amount of inflation that has taken place. |
| CPI - Consumer Price Index |
A statistical device that measures the increase in the cost of living for consumers. It is used sometimes to illustrate the extent that prices in general have risen or the amount of inflation that has taken place. |
| CPP - Canada Pension Plan |
A federally run program designed to provide monthly pensions to contributors (except in Quebec which has its own plan) in retirement, to disabled contributors and their children, and to the widows, widowers, and orphaned children of deceased contributors. |
| CRA |
Canada Revenue Agency |
| CSC - Canadian Securities Course |
An educational program offered by the Canadian Securities Institute (CSI). An individual often requires this course program for a position in the financial services industry. It covers fixed income securities, equities, mutual funds, derivatives, etc. |
| DJIA - Dow Jones Industrial Average |
Often known as "the Dow," this average is one of the most frequently quoted market indexes in the news. It refers to a weighted average of 30 widely traded blue chip stocks (such as IBM and Coca-Cola). The closing prices of these 30 stocks are added and then divided by a factor that accounts for stock splits and other market changes. (The number refers to points, not dollars.) Because these stocks are in a variety of sectors and are actively traded, they are considered a good reflection of the market. |
| GIC - Guaranteed Investment Certificates |
A deposit certificate usually issued by a trust company or other financial institution and covering a specific period. It is an interest-paying investment in which the investor commits for a specified term for a specified rate of interest, usually anywhere from one to five years. |
| GIS - Guaranteed Income Supplement |
An income tested pension for Old Age Security (OAS) recipients with relatively insignificant income, other than the OAS. |
| IDA - Investment Dealers Association |
The Investment Dealers Association of Canada, the national self-regulatory organization and representative for the Canadian securities industry, represents more than 190 Member firms across the country. |
| IMF - International Monetary Fund |
An agency of the United Nations, established in 1944 along with the World Bank to promote post-war economic recovery, development and trade -- principally by helping to ensure a stable system of international exchange. The IMF has evolved since its inception, but remains focused on overseeing the international monetary system, including balance of payments stability (e.g., the resolution of debt problems) and encouraging member governments to implement appropriate macro-economic and structural policies. |
| Investment Tax Credit |
A tax credit available for investments in scientific research and experimental development and in certain regions. |
| LIF - Life Income Fund |
A non-annuity investment vehicle created specifically to access locked-in RRSP and pension plan savings to provide retirement income. |
| LSVCCs - Labour-Sponsored Venture Capital Corporations |
Funds set up by labour organizations in which individuals pool their money to invest in small businesses. Individuals who purchase national LSVCC shares receive a 20 per cent federal tax credit based on the cost of acquiring these shares. These shares may also be contributed to an RRSP. |
| MER - Management Expense Ratio |
A measure of the total costs of operating a mutual fund as a percentage of average total assets. |
| MFDA - Mutual Fund Dealers Association |
The MFDA is the mutual fund industry’s self-regulatory organization (“SRO”) for the distribution side of the industry. It is responsible for regulating all sales of mutual funds by its Members in Canada. The MFDA does not regulate the funds or fund manufacturers. This responsibility has remained with the securities commissions. |
| NASDAQ - National Association of Securities Dealers Automated Quotations |
One of the three major stock exchanges in the United States. (The New York Stock Exchange and the American Stock Exchange are the other two.) New companies entering the stock market with an IPO frequently start on the NASDAQ market. |
| OAS |
Old Age Security - The Old Age Security pension is a monthly benefit available, if applied for, to most Canadians 65 years of age or over. Old Age Security residence requirements must also be met. |
| OAS - Old Age Security |
A pension payable to all persons age 65 of older, who meet both the income need and residency requirement in Canada. |
| OSFI - Office of the Superintendent of Financial Institutions |
The federal agency that regulates financial institutions and employer-employee pension plans under federal jurisdiction to contribute to public confidence in the Canadian financial system and the protection of the rights and interests of depositors, policyholders and creditors. To meet this goal, OSFI maintains a comprehensive supervisory framework aimed at ensuring that each institution or pension plan is able to meet all obligations as they fall due. |
| RESP - Registered Education Savings Plan |
A savings program for post-secondary education that earns tax-sheltered income. It is taxable when taken out by the beneficiary of the plan who is generally in a lower tax bracket, if in a tax bracket at all, at the time of applying the funds for further education. |
| RRIF |
Registered Retirement Investment Fund |
| RRSP |
Registered Retirement Savings Plan -A plan enabling Canadian citizens to establish tax-sheltered accounts to accumulate money toward retirement. |
| RSP |
Registered Retirement Plan (Same as RRSP) |
|
|
Glossary Of Financial Terms
|
Description |
| Account |
Objectively identifies a unique asset, liability, net assets (equity), revenue or expense. Transactions are accumulated; shows increases, decreases, and a balance. |
| Account type |
Specifies the accounting area to which an account belongs, i.e., asset, liability, net assets (equity), revenue or expense. |
| Accounting period |
Period covered by an income statement, such as January 1 through December 31 of a year; often a month, quarter, six months, or year. |
| Accruals |
Accrual accounting is the recognition of revenue and expense transactions in the period in which they occur, regardless of whether there has been a payment or receipt of cash. Revenue accrual is revenue that has been earned in the current period but not yet received. Expense accrual is goods or services acquired in the current period but not yet paid. |
| Accumulated amortization |
The amount of amortization expense that has been claimed since the acquisition of the asset. |
| Active management |
An investment management strategy comprised of security selection and market timing. Security selection is the buying and selling of assets to earn a return above an investable market index (such as the S&P/TSE). Market timing is the weighting of portfolio assets and asset classes to take advantage of anticipated relative performance differentials over a given time horizon. |
| Amortization |
The process of spreading the cost of an asset over the expected useful life of the asset. |
| Arm’s length |
Separate economic interests that reflect ordinary commercial dealings between parties acting in their separate interests. |
| Asset mix |
The proportion of investment assets allocated to equities and fixed income. Sometimes referred to as asset allocation. |
| Assets |
Are possessions having value. In accounting assets are resources owned by an organization as a result of transactions or events from which future economic benefits are expected to flow to that individual or organization. (i.e. accounts receivable, buildings) · Current Asset - Unrestricted cash, or other asset, which is expected to be converted into cash or consumed in the production of income within the greater of one year and the normal operating cycle. · Long-term Asset - are usually those assets that are not consumed during the normal course of business, e.g. land, buildings and equipment. |
| Audit |
The result of an independent accountant's review of the statements and footnotes to ensure compliance with generally accepted accounting principles and to render an opinion on the fairness of the financial statements. |
| Audit Report |
A report issued by an independent Auditor that expresses an opinion about whether the financial statements present fairly a company's financial position, operating results, and cash flows in accordance with generally accepted accounting principles. |
| Authorization |
To give official approval to; to give power or authority to; or to justify. |
| Bad debt |
An outstanding accounts receivable that is proven to be not collectible and is therefore written off. |
| Balance |
Amount shown in an account; arrived at by adding all the debits and subtracting all credits |
| Balance carried forward |
The transfer of an actuals account balance from one year to the next year. A balance is carried forward for a balance sheet accounts (asset, liability, net assets (equity). |
| Benchmark |
A reference index or rate, which serves as a basis for performance comparison or return calculation. |
| Beneficiary |
Person or entity that receives a benefit. |
| Bequest |
A gift of cash or personal property that an individual makes in their will. |
| Budget |
The monetary plan which estimates revenue and expenditures for a period of time corresponding to the fiscal year. In a balanced budget, revenues equal expenses. The budget provides the authorization to spend and limits the funds available for spending and may (depending on the fund) limit the types of expenditures. |
| Budget adjustment |
A change or adjustment to the budget. |
| Capital |
The total amount of money or other resources owned or used to acquire future income or benefits. |
| Capital assets |
Are comprised of tangible properties such as land, buildings and equipment, and intangible properties that meet all of the following criteria: • are held for use in the provision of services, for administrative purposes, for production of goods or for the maintenance, repair, development or construction of other capital assets • have been acquired, constructed or developed with the intention of being used on a continuing basis • are not intended for sale in the ordinary course of operations • are not held as part of a collection |
| Capital gain |
Profit or gain realized from the sale or disposal of a capital asset. |
| Capital loss |
Loss realized from the sale or disposal of a capital asset. |
| Chart of accounts |
Defines the financial structure of an organization. |
| Closing entries |
Entries that zero out all revenue and expense accounts at the end of the fiscal period or years. |
| Condition |
A qualification, restriction, or limitation annexed to a grant or agreement, by which it is deprived of its absolute character, and may be defeated, or suspended, or revoked on the happening of a certain event, or the performance, on the part of the grant |
| Consideration |
Normally the price paid for goods, property or services, usually cash, but can include any act of the purchaser for which the supplier derives a benefit. |
| Contingencies |
Budget that is established to cover the cost of unforeseen circumstances, and urgent, unbudgeted items. |
| Contract |
Agreement between two or more parties whereby each party promise to do, or not to do, something; a transaction involving two or more individuals, whereby each has reciprocal rights to demand performance of what is promised. |
| Contribution |
A transfer or deposit to an account |
| Credit (Cr) |
Entry that increases liabilities, net assets, revenue, and gains and decreases assets and expenses. The opposite of a debit. |
| Credit note |
Created to reduce the amount of an existing vendor payable or customer receivable. |
| Current liability |
Are amounts to be paid within one year of the balance sheet date. |
| Custodian |
A financial institution that holds securities in safekeeping for clients. |
| Debit (Dr) |
An entry recording an increase to an asset or expense or a reduction to a liability, revenue or a net asset (equity). The opposite of a credit. |
| Deductible |
The initial amount of an insurable expense that the insured is required to pay before insurance reimbursement is made for a claim. |
| Deferred revenue |
Are revenues received or recorded for sales of goods or services to be provided in subsequent fiscal or accounting periods. |
| Directive |
Like a guiding principle, a directive supports the vision and mission |
| Disbursement |
The paying out of money to satisfy a debt or an expense. |
| Disclosure |
Provision of information about economic events beyond that included in the financial statements. Usually disclosed in the notes to the financial statements. |
| Donation |
A gift or contribution to a charity or public institution without conditions and/or restrictions. The donation is voluntary and there is no direct benefit to the donor in return. (see gift) |
| Due diligence |
Making a reasonable effort to provide accurate, complete information. The attention and care required of a person. |
| Electronic funds transfer (EFT) |
Transfer of money between a buyer’s bank account and the seller’s bank account without need to write cheques or make deposits. |
| Encumbrance |
A future commitment to pay for goods and services. |
| Equity |
See net assets |
| Equity investments |
Ownership interest of public or private stock in a company. |
| Estate |
Property and/or funds |
| Expenditure |
Costs incurred in the normal course of business operations. Are decreases in economic resources, either by way of outflows or reductions of assets or incurrence of liabilities. (i.e. salary expense) |
| Fiduciary |
Of or relating to a holding of something in trust for another. |
| Financial accounting |
The reporting in financial statements of the financial position and performance of a firm to internal and external users to the firm on a regular, periodic basis. |
| Financial statement |
A report such as a statement of financial position, income statement, or statement of cash flows, which summarize the financial status and results of operations of a business entity. |
| Fiscal period |
The period (usually a year, a quarter or a month) over which performance (net income) is measured and at the end of which position (balance sheet) is determined. Related to fiscal year. |
| Fiscal year |
A period of one year for which financial statements are prepared that may or may not coincide with the calendar year. |
| Fixed asset |
An asset that has a useful life that is longer than an accounting period. Fixed assets include land, buildings, furniture, equipment, books, artwork, and other assets funded from any source. |
| Fixed income investments |
Assets that pay a fixed-dollar amount, such as bonds and preferred stock. |
| Foreign bank draft |
Bank notes used to purchase goods and services in foreign currency. |
| Fund |
An amount of money that may be available either for general uses or purposes or that may be dedicated to a specific use or purpose. |
| General ledger (GL) |
Ledger in which all the assets, liabilities, net assets, revenue and expenses are posted and from which financial statements are prepared. |
| Generally Accepted Accounting Principles (GAAP) |
Financial statements are prepared in accordance with generally accepted accounting principles (GAAP), which determine what information should appear in financial statements and how it should be presented. GAAP encompasses specific rules, practices and procedures relating to particular circumstances and broad rules concerning the measurement, allocation and disclosure of financial events and transactions. |
| Gift |
Voluntary transfer of property made without consideration, that is, for which no value is received in return. |
| Gifts-in-kind |
Non-monetary gifts donated, for example, old books, equipment and record collections. Non-cash gifts are valued at market value, and a tax receipt is issued. |
| Goods and services tax (GST) |
The Canadian federal goods and services tax, is a tax on the consumption of goods and services in Canada. It is designed to be paid by the ultimate consumer or purchaser. |
| Investment |
The employment of moneys in such a way as to produce an income. Long-term investment – investments whose maturity does not contain maturity date (such as equities) or fixed income investments which, mature in over one year. Short-term investment – primarily fixed income investments with maturities under one year. |
| Investment income |
Is external revenue derived from assets held as investments. |
| Investment manager |
A team of investment professionals who manage money. Also called portfolio manager and money manager. |
| Legal tender |
Kind of money lawfully acceptable for payment of a debt. All coins and paper money of Canada. |
| Liability |
Is a legal obligation to pay. Represent amounts that will require settlement in the future as a result of events and transactions that occurred prior to the accounting date, or obligations for future delivery of goods or services for which payment has already been received. (i.e. accounts payable) Long-term liability - Any monies that are not payable on demand or within one year. An example would be a mortgage payable. |
| Long term investments |
Investments whose terms do not contain a maturity date (such as equities) or fixed income investments which, mature in over one year. |
| Long-term debt |
Debt that does not mature within 1 year or the operating cycle, whichever is longer. |
| Loss |
When an ancillary unit has expenses greater than revenues, this difference is known as a loss. |
| Market value |
A security’s last reported sale price. |
| Materiality |
Information shall be deemed to be material if its omission, non-disclosure or mis-statement would cause the financial statements to mislead users of the statements when making evaluations or decisions. In determining the materiality of information: a) regard shall be had to the nature of the information, the amount involved, or both; and, b) items of the same or similar nature shall be considered in the aggregate as well as individually. |
| Money market |
That part of the capital market in which short-term financial obligations are bought and sold. These include treasury bills, banker’s acceptances, commercial paper and other instruments with a year or less left to maturity. |
| Mortgage |
Debt instrument by which the borrower gives the lender a lien on property as security for the repayment of the loan. |
| Net |
The residual after all debits and credits are combined. |
| Net assets (Equity) |
Represents the residual interest in assets after deducting liabilities. |
| Net book value |
The unexpired, or unamortized, cost of an asset as carried in the accounting records of an organization. |
| Not-for-profit |
Not-for-profit organizations are entities, normally without transferable ownership interests, organized and operated exclusively for social, educational, professional, religious, health, charitable or any other not-for-profit purpose. |
| Perpetuity |
Endless or indefinetly long duration or existence. |
| Pooling |
Pooling occurs where a single trustee administering a large number of funds, combines the assets of each fund into a single “pool” for the purposes of investment. The creation of a larger asset base allows for the diversification of investments; the increasing of administrative efficiencies through economics of scale; the maximization of return on investments; and a more constant (or at least more predictable) yield of investment earnings. |
| Prime lending rate |
The most favorable interest rate charged by lenders on a loan to qualified customers. |
| Principal |
The amount that will be paid on a bond at a maturity date. |
| Rate of return |
The change in the value of a portfolio over an evaluation period, including any distributions made from the portfolio during the period. |
| Real property |
Includes land and buildings as well as leasehold interests in such property. |
| Residual value |
The estimated net realizable value of a capital asset at the end of its useful life to an organization. |
| Restrictions |
Are stipulations imposed that specify how resources must be used. External restrictions are imposed from outside the organization, usually by the contributor of the resources. Internal restrictions are imposed in a formal manner by the organization. |
| Stipend |
A payment of salaries or wages for services or a fixed sum of money paid periodically for services. |
| Transactions |
Exchange of goods or services between entities (whether individuals, businesses, or other organizations), as well as other events having an economic impact on a business. An accounting transaction is the basis of bookkeeping. |
| Trust |
A right of property held by one person, called the trustee, for the benefit of another, called the beneficiary. |
| Trustee |
A person holding property of one person, the donor or grantor, for the benefit of another, called the beneficiary. |
| Write-off |
To transfer an item that was an asset to an expense account. Example – to transfer an uncollectible account receivable to bad debt expense. |
| Yield |
The percentage rate of return paid on a stock in the form of dividends, or the rate of interest paid on a bond or note. |
|
| Designations |
Description |
| AICB - Associate of the Institute of Canadian Bankers |
A designation indicating one who has acquired a core education in general business of banking and relationship skills. This designation is earned upon successful completion of the university-level Business Program for Bankers or the Financial Services Study Program. Completion of this designation can lead to the FICB (Fellow of the Institute of Canadian Bankers). |
| CA - Chartered Accountant |
The professional designation indicates one who has passed the requirements of his or her provincial institute of chartered accountants, which includes the Uniform Final Exam (UFE). CA's have extensive training in tax and other areas of financial management and must adhere to a code of conduct. |
| CBV - Chartered Business Valuator |
Offered by the Canadian Institute of Chartered Business Valuators individuals with a CBV have a sound working knowledge in the area of business and securities valuation theory, and the ability to deal with various valuation-related issues generally encountered by professional valuation. Because of the technical nature of the designation most have a basic knowledge of accounting and financial statement analysis, acquired at the equivalent of at least a university undergraduate level. Although not required, possession of an undergraduate or graduate degree in accounting/finance, or a designation such as CA, CGA, CMA, CFA or equivalent is encouraged. |
| CDFA - Certified Divorce Financial Analyst |
Trained to answer questions and more for men and women in the process of divorce and to provide litigation support for their attorneys, which helps them prove and often settle their case. Offered by the Institute for Divorce Financial Analysts. |
| CEBS - Certified Employee Benefit Specialist |
A designation awarded by the International Foundation of Employee Benefits Plans to individuals who have successfully completed a 10-course program. Originally an American designation, an individual can now earn this specialty designation in Canada through University. |
| CFA - Chartered Financial Analyst |
One who has passed exams administered by the U.S. based CFA Institute. Common holders of this credential are money managers and stock analysts. |
| CFE - Certified Fraud Examiners |
Designation granted by The Association of Certified Freud Examiner. The member-professionals earns the designation is required to complete a rigorous qualification process and assist in investigating fraud is various forms. CFEs come from many professional backgrounds including: auditors, accountants, attorneys, criminologists, loss prevention specialists and fraud investigators. Most major corporations and government agencies employ CFEs internationally. |
| CFP - Certified Financial Planner |
The internationally recognized credential awarded in Canada by Financial Planners Standards Council (FPSC). CFP professionals must meet the FPSC's standards in education, experience, examination and ethics. CFP professionals must also have 30 hours of continuing education every year and agree to abide by the CFP Code of Ethics to renew their right to use the credential annually. |
| CGA - Certified General Accountant |
A professional designation granted to individuals who have passed the educational and experience requirements of their provincial association. CGAs have extensive training in accounting, tax and financial management. They are required to adhere to a code of conduct and a mandatory continuing education program. |
| CHFC - Chartered Financial Consultant |
One who has passed advanced courses in financial planning and wealth accumulation granted by The Financial Advisors Association of Canada (Advocis). |
| Chartered Financial Planner |
One who has earned a general financial planning designation granted by The Canadian Institute of Financial Planning upon completion of an education program. The program was phased out in 1998. |
| CIA - Certified Internal Auditor |
Offered by The Institute of Internal Auditors, Internal auditors offer an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. A person with this designation helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. |
| CIM - Canadian Investment Manager |
One who deals in portfolio and wealth management. It is a title granted by the Canadian Securities Institute. |
| CLU - Chartered Life Underwriter |
One who has passed exams given by The Financial Advisors Association of Canada and who has been determined to be a financial planner with advanced knowledge in life and health insurance and employee benefits. |
| CMA - Certified Management Accountant |
One who has passed the requirements of his or her provincial society of management accountants. A CMA is a financial management professional who combines accounting and business management skills. |
| CMC - Certified Management Consultant |
Designation offered by the Canadian Association of Management Consultants. This designation indicates that the individual is knowledgeable and competent in providing guidance to clients interesting customized financial asset management. |
| EPC - Elder Planning Counselor |
The Elder Planning Counselor designation program was designed by Canadians specifically for Canadian professionals who work with elders, people aged 55 and older. The EPC plays a very important part in dealing with elders in a financial, social, community or health field. |
| FCSI - Fellow of the Canadian Securities Institute |
A designation awarded by the Canadian Securities Institute (CSI). To obtain the FCSI designation, students need a minimum of five years experience in the financial services industry and complete CSI's FMA™ , CIM®, or DMS™ designations, Conduct & Practices Handbook Course, the Partners, Directors and Seniors Officers Exam or the Branch Managers Course, one additional course and an ethics case study or seminar. |
| FCUIC - Fellow of the Credit Union Institute of Canada |
A designation awarded by the Credit Union Institute of Canada (CUIC) to individuals who have completed the nine-course General Business Studies Program and the two years full-time work requirement in the co-operative financial services industry. |
| FDS - Financial Divorce Specialist |
A financial planner, accountant or any other financial professional with an existing financial designation as a base criteria, who has successfully completed the specialized training in financial issues regarding division of assets, pensions and children's needs through the Academy of Financial Divorce Specialists. An FDS is required to adhere to Practice Standards and the Code of Ethics from the Academy, as well as fulfill additional continuing education requirements to maintain their designation annually. |
| FICB - Fellow of the Institute of Canadian Bankers |
A designation indicating one who has acquired a graduate-level understanding of the key issues faced by senior managers of financial institutions and is equipped with the skills to manage these units in a globally competitive environment. This designation is earned upon successful completion of the Professional Banking Program. |
| FMA - Financial Management Advisor |
A designation awarded by the Canadian Securities Institute. The FMA educational stream delivers advanced financial planning skills to service high net worth clients who demand sophisticated strategies and the acumen to direct a team of wealth management professionals. The designation is achieved by successful completion of the Canadian Securities Course®, the Professional Financial Planning Course™ and Wealth Management Techniques™. |
| IA - Investment Advisor |
One who is licensed to sell securities by one of the provincial securities, provided he or she passed the Canadian Securities Course. |
| IC - Investment Counsellor |
One who is licensed by provincial securities commissions to invest and manage money on behalf of institutions and high-net-worth individuals. |
| MTI - Member, Trust Institute |
A designation granted by the Institute of Canadian Bankers (ICB) to individuals who have extensive knowledge and proven work experience in a trust industry specialty, as well as core knowledge of general business. |
| PFP - Personal Financial Planner |
A designation granted by the Institute of Canadian Bankers. It is earned upon successful completion of the Personal Financial Planning Program and the Institute's Designation Qualification Process. |
| Pl. Fin. - Planificateur financier |
In Québec, the financial planning industry is regulated by Bill 188, which states that each financial planner must earn the Pl. Fin. professional designation. |
| R.F.P. - Registered Financial Planner |
Designation awarded annually by the Institute of Advanced Financial Planners (IAFP) to its members who have met and maintained the professional standards as established by the Institute. |
| REBC - Registered Employee Benefits Consultant |
One who specializes in helping clients plan for retirement. Awarded by The Financial Advisors Association of Canada (Advocis) to students who have completed course requirements. Those who have earned their CFP credential by completing the new curriculum for CFP certification and the CLU designation must complete three additional courses offered by Advocis to earn the REBC. |
| RHU - Registered Health Underwriter |
An agent who specializes in disability income and the health insurance business. Individuals have to successfully complete course requirements to be granted this title and designation by The Financial Advisors Association of Canada. |
| RPA - Registered Professional Accountant |
The Society of Professional Accountants of Canada offers the designation program. It has been recognized for its excellence and its distinctive small business focus on professional accountancy education. |
| SFC - Specialist in Financial Counselling |
A designation granted by the Institute of Canadian Bankers (ICB) to individuals with knowledge and skills in matching services and products to a client's financial goals. It is earned upon successful completion of the Personal Financial Counselling Program and the Institute's Designation Qualification Process. |
| STI - Specialist, Trust Institute |
Offered by the Institute of Canadian Bankers this diploma indicates that the person has extensive technical knowledge and some experience in one specific area of specialization. |
| TEP - Trust and Estate Practitioner |
A designation granted through the Society of Trust and Estate Practitioners (STEP), the professional body for the trust and estate profession worldwide and currently has over 7000 members. |