F.A.C.T.S. believes that to establish the greatest measure of value and trust with its clients, a service provider must operate within an ethical, principled framework of conduct. As a sustaining Certified Management Accountant and a Certified Financial Planner, F.A.C.T.S. must comply with the following ethical standards and principles and meet annual ethics education requirements.
From the Institute of Management Accountants’ Statement of Ethical Professional Practice
Overarching principles include Honesty, Fairness, Objectivity and Responsibility.
Honesty: Conduct that is both fair and straightforward.
Fairness: Maintain impartiality, requiring open mindedness, tolerance and acceptance.
Objectivity: Judging on an established set of criteria.
Responsibility: Doing what and when you say.
Within these principles, IMA members are expected to act in accordance with established standards of conduct:
a. Maintain an appropriate level of professional expertise by continually developing knowledge and skills
b. Perform professional duties in accordance with relevant laws, regulations, and technical standards.
c. Provide decision support information and recommendations that are accurate, clear, concise and timely
d. Recognize and communicate professional limitations or other constraints tat would preclude responsible judgment or successful performance of an activity
a. Keep information confidential except when disclosure is authorized or legally required
b. Inform all relevant parties regarding appropriate use of confidential information
c. Refrain from using confidential information for unethical or illegal advantage
a. Mitigate actual conflicts of interest. Advise all parties of any potential conflicts.
b. Refrain from engaging in any conduct that would prejudice carrying out duties ethically
c. Abstain from engaging in or supporting any activity that might discredit the profession
a. Communicate information fairly and objectively
b. Disclose all relevant information that could reasonably be expected to influence an intended user’s understanding of reports, analysis or recommendations
c. Disclose delays or deficiencies in information, timeliness, processing or internal controls in conformance with organization policy and/or applicable law.
From the CFP Board of Standards
Principle 1 – Integrity
A CFP Board designee shall offer and provide professional services with integrity.
Principle 2 – Objectivity
A CFP Board designee shall be objective in providing professional services to clients
Principle 3 – Competence
A CFP Board designee shall provide service to clients competently and maintain the necessary knowledge and skill to continue to provide those services
Principle 4 – Fairness
A CFP Board designee shall perform professional services in a manner that is fair and reasonable to clients, principals, partners and employers, and shall disclose conflict(s) of interest in providing such services.
Principle 5 – Confidentiality
A CFP Board designee shall not disclose any confidential client information without the specific consent of the client unless in response to proper legal process, to defend against charges of wrongdoing by the CFP Board designee or in connection with a civil dispute
Principle 6 – Professionalism
A CFP Board designee’s conduct in all matters shall reflect credit upon the profession.
Principle 7 – Diligence
A CFP Board designee shall act diligently in providing professional services.