Ethics Flashcards
Financial Planning Areas including
Financial management
Investment management
Insurance and risk management
Retirement planning
Tax planning
Estate planning and legal aspects
Duty of Loyalty
Placing the client’s interest first
Disclose conflicts of interest and to mitigage conflicts in the client’s favour, and Duty to act with care, skill and diligence of a prudent professional
Intergrity
Requires the Certificant to observe both the letter and the spirit of the Code of Ethics
Objectivity
Objectivity requires intellectual honesty, impartiality and the exercise of sound judgement, regardless of the services delivered or the capacity in which a Certificant functions
Fairness
- A Certificant shall be fair and open in all professional relationships
- Fairness requires providing clients with what they should reasonably expect from a professional relationship, includes honesty and disclosure of all relavant facts, including conflicts of interest
Confidentiality
- Client information be secured, protected and maintained in a manner that allows access only to those tho are authorized
- The use of clients information must be collected and used only for authorized reasons
Diligence
- Diligence is the degree of care and prudence expected in the handling of client’s affairs
- Diligence requires fulling professional commitments in a **timely and thorough manner **
- Taking due care in guiding, informing, planning, supervising, and delivering financial advice to clients
Professionalism
- Act in a manner reflection positively upon the profession
- Conducts that inspires confidence and respect from clients and the community
Fitness standards
Bars to new, continued or reinstated certification
A performance fee that is contingent, in whole or in part, on the successful outcome or completion of agreed to advice or services by the practitioner is called
Contingency fee
按成功收益比例计算的服务费用
A CFP Certificant obtains referral letters from satisfied client
Acceptable based on the Fairness principle
What principle embodies all other principles within the FP Canada Standards Council Code of Ethics?
Professionalism
Professionalism refers to confuct that inspires confidence and respect from clients and the community, and embodies all the other principles within the code
Making ethical decisions based on laws, rules and regulations refer to?
Compliance-based decision making
This document is published jointly by the Institute of Financial Planning (IPF) and FP Canada and includes long term projections for financial metrics including expected returns on market indices, inflation rates, interest rates and other assumptions. This is known as?
PAG - Projection Assumption Guidelines
