As part of the new CFP Board Code of Ethics & Standards of Conduct, CFP professionals’ obligations differ depending on whether they are simply providing financial advice or are engaging in “financial planning.”
Tagged with "code of ethics"
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Relationships Covered by the CFP Board Code and the SEC’s Reg B-I
Posted on September 1st, 2020 at 3:00 PM
This is the seventh of several posts discussing the similarities and differences of the SEC’s recently-implemented Regulation Best Interest (“Reg. B-I”) and the CFP Board’s Code of Ethics and Standards of Conduct. In this post, we will look at which relationships are covered by the CFP Board Code and Reg. B-I.
CFP Board Compares its Duty of Loyalty to the SEC’s Reg B-I
Posted on August 4th, 2020 at 9:15 AM
This is the third of several posts discussing the similarities and differences of the SEC’s recently-implemented Regulation Best Interest (“Reg. B-I”) and the CFP Board’s Code of Ethics and Standards of Conduct. In this post, we will look at the duty of loyalty required by the CFP Board and Reg B-I.
Compliance with CFP Board’s New Code of Ethics and Standards
Posted on September 6th, 2019 at 4:21 PM
When the CFP Board's new Code of Ethics and Standards of Conduct ("Code and Standards") takes effect on June 30, 2020, the CFP Board will expect 63,000 CFP professionals to act in the best interests of their clients at all times when providing an investor with "financial advice."
CFP Board New Code of Ethics and Standards of Conduct: Compensation Method Part 3
Posted on July 26th, 2019 at 4:12 PM
The new Code and Standards also address two specific compensation representations: the term “fee-only” and the term “fee-based,” which the previous standards did not specifically address. The Board explains in the Commentary that members of the public are interested in working with a fee-only financial planner, which has created an incentive for a CFP professional (and others) to describe their compensation method that way.
CFP Board New Code of Ethics and Standards of Conduct: Disclosing and Managing Conflicts of Interest Part 2
Posted on July 25th, 2019 at 5:19 PM
The Code and Standards note that no business model is conflict-free and that CFP advisors have a specific set of conflicts which they must disclose and manage under the new guidelines.
CFP Board New Code of Ethics and Standards of Conduct: Duties Owed to Clients
Posted on July 24th, 2019 at 3:15 PM
When the CFP Board's new Code of Ethics and Standards of Conduct ("Code and Standards") takes effect on June 2020, the CFP Board will expect all CFP professionals to abide by this more rigorous framework.
CFP Board Adopts New Code of Ethics and Standards of Conduct
Posted on June 28th, 2019 at 1:24 PM
Recently, the CFP Board announced that its Board of Directors unanimously approved a new Code of Ethics and Standards of Conduct (“Code and Standards”).
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