I came across this list today and thought it an excellent summary of what clients should expect of their financial advisers and managers:
“The CFA Institute Integrity List is a collection of 50 tangible steps that investment professionals can take to restore trust in the industry. The list was inspired by “real-world” ideas from CFA charterholders and members.
- Commit to a gold standard code of ethics and professional conduct [See CFA Institute Code of Ethics and Standards of Professional Conduct].
- Require training on ethical decision-making for yourself and your firm.
- Place the client’s interests before your own.
- Name and shame unethical behavior.
- Recommend products with transparent payoffs, costs, and risks.
- Help clients focus on risk as much as they do on performance.
- Disclose your educational achievements and how you improve professional competence.
- Strive for a conflict-free business model.
- Advocate for stronger regulations that protect investors.
- Act with integrity 24/7 – not just at the office.
See the full 50 item list here: CFA Institute Integrity List
After reviewing all 50 governing principles, I was pleased to confirm that our firm subscribes to all of them… Number 44 however, explains why we have very few personal associates in finance…