Ethics in Personal Financial Planning

About this course:

This course focuses on the unique role of a certified financial planner, their fiduciary responsibility when working with clients is emphasized throughout. Operating “with utmost good faith and in a manner reasonably believed to be in the best interest of the client.” Instruction begins with a more general perspective by examining the key definitions, issues and theories of business ethics before moving on to ethical decision making and conduct specific to the financial planning profession. The remainder of the course time is spent reviewing the CFP Code of Ethics, Practice Standards, Disciplinary Processes and Procedures, sanctions and other disciplinary outcomes, and the Fitness Standards as updated by the CFP Board in 2019. By the end of this program, the participant should be equipped to understand the structure and content of the revised Code and Standards, including significant changes from prior rules; describe CFP Board’s fiduciary duty; identify material conflicts of interest to avoid or fully disclose them, obtain informed consent and manage them; understand the duty to report to CFP Board and the duty to cooperate; identify the practice standards when providing financial advice that requires financial planning; and understand the duty to provide information to clients when providing financial planning and/or financial advice.