What it Means to be a CERTIFIED FINANCIAL PLANNERâ„¢ Professional
The value of working with a CERTIFIED FINANCIAL PLANNER™ professional signifies a client - planner relationship anchored by a level of care, education, and competency unmatched in the financial planning and investment management landscape.
The below information is taken verbatim from The CFP Board's website at letsmakeaplan.org.
The below information is taken verbatim from The CFP Board's website at letsmakeaplan.org.
A Commitment to High Standards
CFP® certification signifies the commitment that all CFP® professionals make to acting in the best interests of their clients. Under the Code and Standards, which took effect on October 1, 2019, a CFP® professional must act in the client's best interests whenever providing financial advice.
a Commitment to an Expanded Fiduciary Duty
The Code and Standards introduces several new requirements. The cornerstone is the obligation to act as a fiduciary, and therefore, act in the best interests of the client at all times when providing financial advice. This is a significant change from the prior standard, which required a CFP® professional to act as a fiduciary when providing financial planning.
What does it mean to act as a fiduciary? A CFP® professional must fulfill the following duties:
Duty of Loyalty - A CFP® professional must place the interests of the client above the interests of the CFP® professional and their firm.
Duty of Care - A CFP® professional must act with care, skill, prudence, and diligence of a prudent professional.
Duty of Follow Client Instructions - A CFP® professional must comply with the terms of the client engagement, following client direction that is reasonable and lawful.
Duty of Care - A CFP® professional must act with care, skill, prudence, and diligence of a prudent professional.
Duty of Follow Client Instructions - A CFP® professional must comply with the terms of the client engagement, following client direction that is reasonable and lawful.
visit CFP.net/code for initial resources and faqs
- The new Code and Standards,
- A Commentary document,
- A side-by-side comparison with the old Standards of Professional Conduct,
- Short video overviews,
- Information on Public Forums to discuss the new Code and Standards.
Additional refernce and guidance materials will be added as they become available.
- A Commentary document,
- A side-by-side comparison with the old Standards of Professional Conduct,
- Short video overviews,
- Information on Public Forums to discuss the new Code and Standards.
Additional refernce and guidance materials will be added as they become available.
CONTACT
Lemont, Illinois 60439 630-754-7580 Phone 630-590-9392 Fax |