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The Standard of Care clarifies the role of a fiduciary adviser subject to the Investment Advisers Act of 1940 and when providing material elements of financial planning services under CFP Board's revised Standard of Professional Conduct. It serves as a plain language description of a fiduciary role in a financial planning engagement.
The Standard of Care
All financial planning services will be delivered in accordance with the following standard of care:
• Put the client's best interests first
• Act with due care and in utmost good faith
• Do not mislead clients
• Provide full and fair disclosure of all material facts
• Disclose and fairly manage all material conflicts of interest
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