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7 Cards in this Set
- Front
- Back
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6 steps of financial planning process |
1. establishing client-planner relationship 2. gathering data 3. analyzing and evaluating current financial status 4. developing and presenting recommendations or alternatives 5. implementing the recommendations 6. monitoring the recommendations |
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4 disclosures verbally or in writing |
1. obligation and responsibility of each party 2. information regarding compensation 3. terms under which proprietary products can be offered 4. term under which the CFP can use outside entities |
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Disclosures that must be written |
1. parties in the agreement 2. date and duration of agreement 3. how and when each party can cancel 4. services provided 5. description of compensation 6. any conflict of interests 7. any info that can influence clients decision 8. contact info |
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7 code of ethics principles |
1. integrity 2. objectivity 3. competence 4. Fairness 5. Confidentiality 6, professionalism 7, Dilligence |
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2 instances that CFP can borrow money from clients |
1. if client is immediate family member 2. if client is institution engaged in the business of lending |
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When can CFP commingle clients money with their own or other clients? |
1. if permitted by law 2. if clients give written permisssion |
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4 disciplinary rules and procedures |
1. private censure by letter 2. public letter of admonition 3. suspension of rights to use the cfp mark for up to 5 years 4. permanent revocation |
