Index of Videos on the Code and Standards
CFP Board has created a variety of videos that CFP® professionals may watch to understand and comply with the Code of Ethics and Standards of Conduct ("Code and Standards"). These videos review a CFP® professional's duties under the Code and Standards as well as apply the Code and Standards to real world situations.
Case Study Videos Applying the Code and Standards
CFP Board presents case study videos to provide practical guidance to CFP® professionals and their firms on the Code of Ethics and Standards of Conduct ("Code and Standards"), effective October 1, 2019 with an enforcement date of June 30, 2020..
Each video illustrates a case study presenting a hypothetical factual circumstance then asking a question about a CFP® professional’s duty in that circumstance under the Code and Standards. The video then reviews the response options, identifies the best response, and then discusses the rationale for why that response is the best and why the other response options are not the best.
CFP Board intends for these quick videos to guide CFP® professionals in applying the Code and Standards to their own practice.
Below is a list of the case study videos by topic:
Conflicts of Interest
- The Duty to Disclose Material Conflicts of Interest When Making A Rollover Recommendation
- The Duty to Disclose Material Conflicts of Interest When Responding to a Client’s Investment Inquiry
- The Duty to Disclose Material Conflicts of Interest When Recommending a Product Issued by an Affiliate
- The Fiduciary Duty Applies to a Rollover Recommendation
- The Fiduciary Duty Applies to an Opinion About a Financial Asset
- The Duty to Follow a Client's Instruction to Use a Specific Firm for Execution
- The Fiduciary Duty to Obtain Factual Information When Working on a Team
- The Fiduciary Duty Does Not Apply When Providing General Financial Educational Materials Concerning Education Planning
- The Fiduciary Duty Does Not Apply When Providing General Financial Educational Materials Concerning Retirement Planning
Financial Planning And Application of the Practice Standards For the Financial Planning Process
- Financial Advice That Requires Financial Planning
- A Client Should Have the Expectation That a CFP® Professional Will Provide Financial Planning Advice in Their Best Interest
Working in Teams
Videos on the Code and Standards
- Summary of the New Code and Standards: Get a summary of a CFP® professional's duties under the new Code and Standards.
- The Levels of Rules and Requirements: Get an overview of the levels of rules and requirements for CFP® professionals under the new Code and Standards.
- The Fiduciary Obligation: Learn about the expanded fiduciary obligation at the core of the new Code and Standards, which requires CFP® professionals to act in the best interest of the client.
- Duty of Loyalty: Explore the importance of Duty of Loyalty under the new Code and Standards.
- Financial Advice: See how financial advice is defined under the new Code and Standards.
- What Is Financial Planning?: Review the definition of financial planning and get up-to-speed on the 3 circumstances where a CFP® professional is required to provide financial planning advice.
- Integration Factors: Find out the 5 factors to consider when a CFP® professional who is providing financial advice must also provide financial planning.
- The 7 Step Financial Process: Learn how the new Code and Standards provides detailed requirements for the financial planning process, and increases the number of steps from 6 to 7.
- The First 3 Steps of the Financial Planning Process: Learn about steps 1, 2 and 3 (out of 7) in the financial planning process: understanding the client's personal and financial circumstances, identifying and selecting goals, and analyzing the client's current course of action.
- Steps 4 and 5 of the Financial Planning Process: Learn about steps 4 and 5 (out of 7) in the financial planning process: selecting a recommendation(s) designed to maximize the client's potential to reach their goals, and presenting that recommendation(s) to the client.
- Steps 6 and 7 of The Financial Planning Process: Learn about Steps 6 and 7 in the financial planning process: implementing the financial planning recommendation, and monitoring progress and updating.
- No Client Agreement to Engage for Financial Planning: Explore 4 options for what CFP® professionals can do when they are required to provide financial planning, but the client does not want to engage the CFP® professional in financial planning services.
- How CFP® Professionals Apply the Code and Standards in a Team Setting: Find out about the duties CFP® professionals have when engaging, recommending, or working with other financial or services professionals.
- Understanding the Term "Fee Based": Gain a deeper understanding of the term "Fee Based" and its use in the new Code and Standards.
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.