New Code of Ethics and Standards of Conduct

For CFP® Professionals

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New Code of Ethics and Standards of Conduct

On March 29, 2018, CFP Board announced that its Board of Directors unanimously approved a new Code of Ethics and Standards of Conduct (“Code and Standards”), which sets forth the ethical standards for CFP® professionals. The new Code and Standards replaces CFP Board’s current Code of Ethics, Rules of Conduct, Financial Planning Practice Standards and Terminology, effective October 1, 2019.

CFP-Board-Code-and-Standards-CoverThe new Code and Standards includes a range of important changes, including expanding the scope of the fiduciary standard that requires CFP® professionals to act in the best interest of the client at all times when providing financial advice. A Commentary version provides an outline and detailed explanation of the new changes. Through the new Code and Standards, CFP Board is advancing the role and value of the financial planning profession with a broader fiduciary standard that elevates public trust in CFP® professionals.

The new Code and Standards reflects the conclusion of CFP Board’s latest review of these standards to maintain the value, integrity and relevance of the CFP® certification. This deliberative and thorough process spanned more than two years, starting with the December 2015 formation of the Commission on Standards, and including active outreach to gather input on proposed revisions from CFP® professionals and the public. CFP Board held more 17 public forums; convened two public comment periods; received more than 1,500 written comments and hundreds of oral comments; conducted a wide-ranging survey; and provided other opportunities for the public to provide feedback and input.

During the time between the announcement date and the effective date of the new Code and Standards, CFP Board will undertake a thorough process to educate and inform CFP® professionals on the new Code and Standards.


Documents and Resources


New Code of Ethics and Standards of Conduct (PDF)

Side-by-Side Comparison of the New Code of Ethics and Standards of Conduct to the Current Standards of Professional Conduct (PDF)

Redline Comparing the New Code of Ethics and Standards of Conduct to the Revised Proposal Released in December 2017 (PDF)

New Code of Ethics and Standards of Conduct with Commentary (PDF)


Enforcement


CFP Board’s ethical standards for CFP® professionals are actively enforced through an investigative and disciplinary process described in the Disciplinary Rules and Procedures and Appeal Rules and Procedures. CFP Board is committed to maintaining a disciplinary process that is fair to the CFP® professionals whose conduct comes under scrutiny and one that is credible to the public.

Learn about CFP Board’s Enforcement Processes

 

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