When a financial advisor becomes a Certified Financial Planner™ he or she must abide by the CFP Board’s Code of Ethics and Standards of Conduct. This is the list of “duties” required of a CFP; one of the most important duties is to act as a fiduciary.
Also:
- Perform all actions with honesty, integrity, competence and diligence.
- Always apply due care.
- Protect a client’s privacy and confidentiality.
- Only act in a client’s best interest.
- Appropriately manage any conflicts of interest.
- Maintain respect for the profession.
By complying with the above standards of practice, the CFP is placing your interests above their own or their firm. A CFP will follow your direction and the terms of engagement, within reason and lawfulness. A CFP will act upon your direction; abiding by your risk tolerance, goals, objectives, financial status and personal circumstances.
If allegations are raised against a CFP professional® the Board will investigate the charges. If a code has been violated by the CFP professional®, a hearing will be conducted and the person may face disciplinary action, which could even include permanent loss of the CFP certification.
I am a Certified Financial Planner®, Certified Investment Management Consultant®, and an Accredited Investment Fiduciary. Contact my office, Chestnut Investment Advisory in Erdenheim at 215.836.4880 or www.regardingyourmoney.com
I will gladly assist you with your financial situation.