Professional Conduct & Regulation

A CFP professional must: (1) act with honesty, integrity, competence, and diligence; (2) act in the client's best interests; (3) exercise due care; (4) avoid or disclose and manage conflicts of interest; (5) maintain the confidentiality and protect the privacy of client information; and (6) act in a manner that reflects positively on the financial planning profession and CFP certification.

The fifth commitment requires a CFP professional to maintain the confidentiality and protect the privacy of client information. This is distinct from the broader Standards-level Duty of Confidentiality, which spells out the limited circumstances in which disclosure is permitted.

Integrity means honesty and candor, not subordinating the client's interest to personal gain, and being worthy of trust. Objectivity means exercising professional judgment without being affected by personal feelings, prejudices, or conflicts of interest, so advice is intellectually honest and impartial.

Competence means attaining and maintaining the knowledge and skill necessary to provide professional services, and recognizing when one lacks the competence to act. Diligence means providing services in a reasonably prompt and thorough manner, including properly supervising others.

The Code and Standards apply to all 'CFP professionals' (those certified by CFP Board to use the CFP marks) and, where stated, to candidates for certification and former certificants. Compliance is required at all times in the conduct of professional activities, not only when giving financial advice.

At all times when providing Financial Advice to a client, a CFP professional must act as a fiduciary and therefore in the best interests of the client. This is a higher and broader trigger than the Financial Planning definition; any Financial Advice invokes the fiduciary obligation.