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- Title
Professional Conduct.
- Authors
Goss, Robert P.
- Abstract
The article explores various ethical notions concerning the issue of financial planning especially the frequently misused term "financial planner." To begin with the concept of "fiduciary" that according to professionals involves trust, fidelity and confidence. Fiduciary, as a matter of law, consists of guardians, trustees, conservators, executors, brokers and directors of corporations. In financial planning a fiduciary is a professional, not a businessman. He sometimes, if necessary, serves his or her client at the cost of his own interest. The code of ethics requires members to act within standards catering to client duty, loyalty, and care. According to the code, the members shall exercise reasonable and prudent professional judgment and shall otherwise act in the best interests of the client. In addition, the code also directs that recommendations to a client should be appropriate to the client's need and circumstances and the client's instructions in all matters should be followed faithfully.
- Subjects
FINANCIAL planners; INSTITUTE of Certified Financial Planners (U.S.); PROFESSIONAL ethics; ATTITUDE (Psychology); FIDUCIARY responsibility; DECISION making; LOYALTY; TRUSTS &; trustees; CORPORATE directors
- Publication
Journal of Financial Planning, 1989, Vol 2, Issue 2, p56
- ISSN
1040-3981
- Publication type
Article