To ensure consistency of delivery of financial planning services, the Financial Planning Standards Council has developed the following standards of performance - or practice standards - for CFP professionals to follow when engaged in financial planning. We are pleased to share with you this very important step in the evolution of the financial planning profession and the CFP designation.
The Financial Planning Standards Council already has a strict Code of Ethics and set of Disciplinary Rules and Procedures that all CFP professionals must follow. While these identify the ethical standards expected of all CFP professionals, regardless of the duties they perform in their jobs, they do not specifically define standards of performance as a financial planning practitioner. These are defined by the new CFP Practice Standards.
These Practice Standards clarify the respective roles and responsibilities of CFP professionals and their clients in a financial planning engagement. They expand on, and provide clarity and guidance with respect to how the existing CFP Code of Ethics and the financial planning process apply to each and every financial planning engagement. They do not represent new ethical or professional obligations for CFP professionals.
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 FPSC Practice Standards for CFP Professionals |
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