Course Description - CFP Board Course #254679
Ethics is a fundamental aspect of the fiduciary standard of care. CFP® professionals uphold this increased responsibility, which now serves as an example for the rest of the industry through the application of the DOL Fiduciary Rule. CFP Board advocates that the industry adopt a uniform standard for all financial planners. Over the past few decades, leaders have started to embrace the Fiduciary Standard. The financial planning world is now more transparent because of increased access to information and resources once only available to financial advisors. The evolving landscape of the financial planning profession, and the increased need for competent and ethical advice, prompted CFP Board to focus on elevating the Standards of Professional Conduct. As CFP Board embarks on the next round of updates to its Standards of Professional Conduct, CFP® professionals must understand the development and application of these rules. These same standards reflect the regulatory changes surrounding the DOL fiduciary rule and the proposed uniform standard of care.
Learning Objectives
Define and discuss a financial planning engagement, material elements of financial planning, and the financial planning process.
Analyze specific fact patterns to determine if a financial planning relationship exists.
Differentiate between the standards of care set forth in Rules 1.4 and 4.5 of the Rules of Conduct, and apply each standard of care to specific factual situations.
Apply each Practice Standard set forth in the Financial Planning Practice Standards to a hypothetical financial planning engagement.
Identify the information that must be disclosed to the client in writing by a CFP® professional who is engaged in a financial planning relationship or providing material elements of financial planning.
Define the required information that must be disclosed to clients and prospective clients, when that information must be disclosed, and apply each disclosure requirement to specific factual situations. (This includes but is not limited to the compensation and conflict-of-interest disclosure requirements set forth in Rule 2.2 of the Rules of Conduct and Practice Standards 100-1, 400-3, and 500-1.)
Primary Principle Knowledge Topic: Professional Conduct and Regulation Level of Complexity: Intermediate
Instructor: Marguerita Cheng, CFP®
NEXT Session
TBD
Location
Online