1
Q
Duty of Loyalty
A
Hold the interest of the client above those of the planner and firm
2
Q
Duty of Care
A
Professional is required to act with the skill prudence intelligence of a prudent professional
3
Q
Duty to follow client instructions
A
Professional is required to comply with the clients instructions, objections policies, and restrictions
4
Q
Integrity Standard
A
Honesty and candor
May not deceive clients, make untrue statements
5
Q
Competence Standard
A
- provide services with competence and relevant knowledge
- recognize lack or knowledge and get help there
6
Q
Diligence Standard
A
- provide services in a professional manner
- respond to clients in a timely fashion
7
Q
Disclose and Manage Conflicts of Interest
A
- make full disclose of all material conflicts of interest
- obtain client consent before providing financial advice
8
Q
Confidentiality and Privacy Standard
A
- maintain confidentiality
- when can client info be shared with others
9
Q
When can client stuff be shared with others?
A
- client consented
- for CFPs attorneys
- auditors of firm
- authorized to represent the client
10
Q
If these bad things occur you need to notify the CFP board
A
- felony
- fraud, theft, misrepresentation
- personal bankruptcy
- tax lien
11
Q
Appeals
A
- must be within 30 days of notice of adverse ruling
