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Announcement

New Brochure Highlights Key Elements of New Code and Standards

September 24, 2018

CFP Board wants all CFP® professionals to have a comprehensive and practical understanding of the new Code of Ethics and Standards of Conduct (“Code and Standards”), which takes effect on October 1, 2019. We are pleased to introduce a new brochure that highlights key elements of a CFP® professional’s obligations under the new Code and Standards and lets you know how to share with us what resources you believe would help CFP® professionals and their firms adopt and comply with the Code and Standards.

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The new 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 new 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.

Download the New Brochure (PDF)

CFP Board is committed to providing resources that will help CFP® professionals understand and comply with the Code and Standards. Initial resources, including a Commentary document and Side-by-side comparison of the new Code and Standards to the old Standards of Professional Conduct, are available on CFP Board’s website at www.CFP.net/Code. Additional resources will be posted as they become available.

CFP® professionals play an important role in this process. CFP Board has assembled a team of professionals — the Standards Resource Commission — that will be developing additional guidance materials to educate and inform CFP® professionals about the Code and Standards. If there are resources that you believe would be valuable to you, your firm, or your clients, please email your suggestions to SRC@CFPBoard.org. The Standards Resource Commission will carefully consider your feedback as it develops future guidance materials.