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Frequently Asked Questions about the New Code of Ethics and Standards of Conduct

Find helpful Frequently Asked Questions (FAQs) on CFP Board’s Code and Standards. Explore the categories below, or download a comprehensive PDF of all the FAQs.

Download the Frequently Asked Questions (FAQs) PDF

January 16, 2020
Duties Owed to Clients
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This section provides answers to FAQs about the following topics:

  • Fiduciary Duty
  • Disclose and Manage Conflicts of Interest
  • Provide Information to Client
  • Duties When Representing Compensation Method
  • Duties When Recommending, Engaging, and Working with Additional Persons

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Financial Planning and Application of the Practice Standards for the Financial Planning Process
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This section provides answers to FAQs about the following topics:

  • Financial Planning Definition
  • Application of Practice Standards
  • Integration Factors
  • No Client Agreement to Engage for Financial Planning

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Practice Standards for the Financial Planning Process
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This section provides answers to FAQs about changes to the Practice Standards, performing all steps in the Financial Planning process, and documenting compliance with the Practice Standards.

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Duties Owed to Clients
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This section provides answers to FAQs about the following topics:

  • Refrain from Adverse Conduct
  • Reporting

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Miscellaneous Questions
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This section includes miscellaneous questions about changes to the new Code and Standards, compliance with other regulations, holding out, and firm obligations.

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FAQ Categories
Duties Owed to Clients
Duties Owed to Clients
Toggle Open

This section provides answers to FAQs about the following topics:

  • Fiduciary Duty
  • Disclose and Manage Conflicts of Interest
  • Provide Information to Client
  • Duties When Representing Compensation Method
  • Duties When Recommending, Engaging, and Working with Additional Persons

READ FAQS ABOUT DUTIES OWED TO CLIENTS

Financial Planning and Application of Practice Standards
Financial Planning and Application of the Practice Standards for the Financial Planning Process
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This section provides answers to FAQs about the following topics:

  • Financial Planning Definition
  • Application of Practice Standards
  • Integration Factors
  • No Client Agreement to Engage for Financial Planning

Read FAQs about Financial Planning and Applying the Practice Standards

Practice Standards
Practice Standards for the Financial Planning Process
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This section provides answers to FAQs about changes to the Practice Standards, performing all steps in the Financial Planning process, and documenting compliance with the Practice Standards.

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Duties Owed to CFP Board
Duties Owed to Clients
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This section provides answers to FAQs about the following topics:

  • Refrain from Adverse Conduct
  • Reporting

Read FAQs about Duties Owed to CFP Board

Miscellaneous
Miscellaneous Questions
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This section includes miscellaneous questions about changes to the new Code and Standards, compliance with other regulations, holding out, and firm obligations.

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These FAQs are 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.

Browse the Compliance Resources Library