Brochure: Highlights of CFP Board's New Code of Ethics and Standards of Conduct
CFP Board wants all CFP® professionals to have a comprehensive and practical understanding of the Code of Ethics and Standards of Conduct (“Code and Standards”), which took effect on October 1, 2019. This brochure highlights key elements of a CFP® professional’s obligations under the Code and Standards and lets CFP® professionals know how to share with CFP Board what resources would help CFP® professionals and their firms adopt and comply with the Code and Standards.
The brochure includes the full text of the updated Code of Ethics, which reflects the commitment that all CFP® professionals make to high standards of competency and ethics. The brochure also highlights several new requirements introduced with the Code and Standards, including:
- The expanded obligation to act as a fiduciary, and therefore, act in the best interests of the client at all times when providing financial advice;
- Requirements related to avoiding, disclosing and managing conflicts of interest;
- Updates to the financial planning process and Practice Standards;
- Requirements for providing information to clients;
- Updated definitions related to compensation methods; and
- Requirements for reporting potential misconduct to CFP Board.
Access More Guidance Materials
This compliance resource is part of a full library of resources that CFP® professionals can use to comply with the Code and Standards. More guidance materials can be found in our Compliance Resources Library.