Ethics

Question 1

Principle 1: Duty of Loyalty to the Client

Answer 1

The Duty of Loyalty encompasses:
* The duty to act in the client’s interest by placing the client’s interests first. Placing the client’s interests first requires the Certificant place the client’s interests ahead of their own and all other interests;
* The obligation to disclose conflicts of interest and to mitigate conflicts in the client’s favour; and
* The duty to act with the care, skill and diligence of a prudent professional.

Question 2

Principle 7: Diligence

Answer 2

A CFP and QAFP professional shall act diligently when providing advice and/or services to clients. Diligence is the degree of care and prudence expected from CFP and QAFP professionals in the handling of their clients’ affairs. Diligence requires fulfilling professional commitments in a timely and thorough manner and taking due care in guiding, informing, planning, supervising, and delivering financial advice and/or services to clients.