Finanical Planner/Adviser Code of Ethics and Professional Responsbility
Difference between code of ethics and code of conduct:
A code of ethics expresses fundamental principles that provide guidance in cases where no specific rule is in place or where matters are genuinely unclear.
A well drafted code of conduct will be consistent with the primary code of ethics, however, it will provide much more specific guidance.
A code of ethics is a document outlines a set of principles that affect decision-making
A code of conduct outlines specific behaviors that are required or prohibited as a condition of ongoing employment
Divided Parts Possibilities:
(1) Ethical behavior, client care, (Competence, knowledge and skill)
(2) Responsibilities to : Self, Clients, Colleagues, Workplace, Profession, Wider Community
1) Client First
Place the client’s interest first
Placing the client’s interests first is a hallmark of professionalism, requiring the financial planning professional to act honestly and not place personal gain or advantage before the client’s interest
Provide professional services with integrity
Integrity requires honesty and candor in all professional matters. Financial planning professionals are placed in positions of trust by clients, and the ultimate source of that trust is the financial planning professional’s personal integrity. Allowance can be made for legitimate differences of opinion, but integrity cannot co-exist with deceit or subordination of one’s principles. Integrity requires the financial planning professional to observe both the letter and the spirit of the Code of Ethics
Provide professional services objectively.
Objectivity requires intellectual honesty and impartiality. Regardless of the services delivered or the capacity in which a financial planning professional functions, objectivity requires financial planning professionals to ensure the integrity of their work, manage...