FPSB India adopted the Code of Ethics to establish the highest principles and standards. These Principles are general statements expressing the ethical and professional ideals CFPCM Certificants are expected to display in their professional activities. As such, the Principles are aspirational in character and provide a source of guidance for Certificants. The Principles form the basis of FPSB India's Model Rules of Conduct, Practice Guidelines and Disciplinary Rules and these together reflect FPSB India's recognition of Certificants' responsibilities to the public, clients, colleagues and employers.
Place the client’s interests first
Placing the client’s interests first is a hallmark of professionalism, requiring the Financial Planning professional to act honestly and not place personal gain or advantage before the client’s interests.
Provide professional services with integrity
Integrity requires honesty and candor in all professional matters. Financial Planning professionals are placed in positions of trust by clients, and the ultimate source of that trust is the Financial Planning professional’s personal integrity. Allowance can be made for legitimate differences of opinion, but integrity cannot co-exist with deceit or subordination of one’s principles. Integrity requires the Financial Planning professional to observe both the letter and the spirit of the Code of Ethics.
Provide professional services objectively
Objectivity requires intellectual honesty and impartiality. Regardless of the services delivered or the capacity in which a Financial Planning professional functions, objectivity requires Financial Planning professionals to ensure the integrity of their work, manage conflicts and exercise sound professional judgment.
Be fair and reasonable in all professional relationships. Disclose and manage conflicts of interest
Fairness requires providing clients what they are due, owed or should expect from a professional relationship, and includes honesty and disclosure of material conflicts of interest. It involves managing one’s own feelings, prejudices and desires to achieve a proper balance of interests. Fairness is treating others in the same manner that you would want to be treated.
Act in a manner that demonstrates exemplary professional conduct
Professionalism requires behaving with dignity and showing respect and courtesy to clients, fellow professionals, and others in business-related activities, and complying with appropriate rules, regulations and professional requirements. Professionalism requires the Financial Planning professional, individually and in cooperation with peers, to enhance and maintain the profession’s public image and its ability to serve the public interest.
Maintain the abilities, skills and knowledge necessary to provide professional services competently
Competence requires attaining and maintaining an adequate level of abilities, skills and knowledge in the provision of professional services. Competence also includes the wisdom to recognize one’s own limitations and when consultation with other professionals is appropriate or referral to other professionals necessary. Competence requires the Financial Planning professional to make a continuing commitment to learning and professional improvement.
Protect the confidentiality of all client information
Confidentiality requires client information to be protected and maintained in such a manner that allows access only to those who are authorized. A relationship of trust and confidence with the client can only be built on the understanding that the client’s information will not be disclosed inappropriately.
Provide professional services diligently
Diligence requires fulfilling professional commitments in a timely and thorough manner, and taking due care in planning, supervising and delivering professional services.