Ethics - 4%
Preamble to the Code Values : Loyalty - answer Institute professionals aspire to the
notions that
(a) the needs of clients are their primary concern; and
(b) members of the profession support high standards of service to clients.
The intended result of loyalty is to demonstrate that clients' objectives are the
fundamental priority when providing investment and private wealth advisory services.
Code Principle 1 - answer Requires Institute professionals to "act in the best interest of
the client."
-Acting in a client's best interest will be judged in light of the Institute professional's
legal, regulatory, and firm requirements.
-Institute professional has a fiduciary obligation to a particular client
-Where the client is one other than an asset owner, Institute professionals "act in the
best interest of the
client" when they act honestly, competently, ethically, objectively, and candidly.
Code Principle 2 - answer Institute professionals to "disclose services to be offered and
provided, related charges, and compensation."
-Disclosure contemplates either oral or written provision of information. Although not
required, oral
disclosures should, under best practices, be confirmed in a timely manner in writing to
demonstrate
compliance.
-Conform with legal, regulatory, and firm requirements concerning the disclosure of the
services offered, compensation received
Code Principle 3 - answerRequires Institute professionals to: (1) "disclose the existence
of actual, potential, and/or perceived conflicts of interest and relevant financial
relationships, direct and/or indirect"; and (2) "take appropriate action to resolve or
manage any such conflicts."
-"Relevant financial relationships, direct or indirect," are also items that an Institute
professional must disclose.
-Has duties beyond disclosure of conflicts and/or financial relationships
-A "financial relationship" means any arrangement or transaction related to the
purchase and/or
sale of goods and/or services between a third party and the Institute professional.
Code Principle 4 - answerProvide clients information needed to make informed
decisions
, 1. In all circumstances, the Institute professional is expected to exercise diligence and
thoroughness in analyzing a client's needs and circumstances when making
recommendations, providing information, and/or taking investment actions
2. Any information that is provided should be
information the client can reasonably be expected to understand.
Code Principle 5 - answerRespond to client inquiries and instructions appropriately,
promptly, completely, and truthfully.
1. "respond" means to provide or refuse to provide (for good reason), orally or in writing,
information sought by client inquiries and/or to take or refuse to take action (for good
reason) in accordance with a client instruction.
2. Timely manner, and any oral response should be memorialized in writing to
demonstrate compliance.
Code Principle 6 - answer"To maintain confidentiality of client information, however
acquired, consistent with legal and regulatory requirements and firm policies."
-Keep the client information private and ensure that it is not disclosed to any
unauthorized person.
-Under best practices, oral authorizations should be confirmed or otherwise
memorialized in writing as soon as possible after the authorization is given.
Code Principle 7 - answerProvide competent service by truthful representation of
competency, maintenance and/or development of professional capabilities, and, when
appropriate, the recommendation of other professionals.
- In all circumstances where the client is requesting services and/or products beyond
the scope of an Institute professional's competence or offerings, an Institute
professional shall:
(1) inform clients of his or her inability to provide the
requested products and/or services; and
(2) either refer the client to another service provider or decline to accept the
assignment.
Code Principal 8 - answerRequires Institute professionals to "comply with legal and
regulatory requirements related to one's practice of his or her profession."
-Institute professionals are governed by various legal rules and requirements based
upon common law, fiduciary obligations,
Code Principal 9 - answerMaintain a high level of ethical conduct.
General compliance with this principle can be enhanced by observing the following
guidelines:
• Abide by statutory and regulatory rules and requirements.
• Establish and maintain a standard of excellence in all aspects of investment
management consulting, investment advising, and wealth management.
Preamble to the Code Values : Loyalty - answer Institute professionals aspire to the
notions that
(a) the needs of clients are their primary concern; and
(b) members of the profession support high standards of service to clients.
The intended result of loyalty is to demonstrate that clients' objectives are the
fundamental priority when providing investment and private wealth advisory services.
Code Principle 1 - answer Requires Institute professionals to "act in the best interest of
the client."
-Acting in a client's best interest will be judged in light of the Institute professional's
legal, regulatory, and firm requirements.
-Institute professional has a fiduciary obligation to a particular client
-Where the client is one other than an asset owner, Institute professionals "act in the
best interest of the
client" when they act honestly, competently, ethically, objectively, and candidly.
Code Principle 2 - answer Institute professionals to "disclose services to be offered and
provided, related charges, and compensation."
-Disclosure contemplates either oral or written provision of information. Although not
required, oral
disclosures should, under best practices, be confirmed in a timely manner in writing to
demonstrate
compliance.
-Conform with legal, regulatory, and firm requirements concerning the disclosure of the
services offered, compensation received
Code Principle 3 - answerRequires Institute professionals to: (1) "disclose the existence
of actual, potential, and/or perceived conflicts of interest and relevant financial
relationships, direct and/or indirect"; and (2) "take appropriate action to resolve or
manage any such conflicts."
-"Relevant financial relationships, direct or indirect," are also items that an Institute
professional must disclose.
-Has duties beyond disclosure of conflicts and/or financial relationships
-A "financial relationship" means any arrangement or transaction related to the
purchase and/or
sale of goods and/or services between a third party and the Institute professional.
Code Principle 4 - answerProvide clients information needed to make informed
decisions
, 1. In all circumstances, the Institute professional is expected to exercise diligence and
thoroughness in analyzing a client's needs and circumstances when making
recommendations, providing information, and/or taking investment actions
2. Any information that is provided should be
information the client can reasonably be expected to understand.
Code Principle 5 - answerRespond to client inquiries and instructions appropriately,
promptly, completely, and truthfully.
1. "respond" means to provide or refuse to provide (for good reason), orally or in writing,
information sought by client inquiries and/or to take or refuse to take action (for good
reason) in accordance with a client instruction.
2. Timely manner, and any oral response should be memorialized in writing to
demonstrate compliance.
Code Principle 6 - answer"To maintain confidentiality of client information, however
acquired, consistent with legal and regulatory requirements and firm policies."
-Keep the client information private and ensure that it is not disclosed to any
unauthorized person.
-Under best practices, oral authorizations should be confirmed or otherwise
memorialized in writing as soon as possible after the authorization is given.
Code Principle 7 - answerProvide competent service by truthful representation of
competency, maintenance and/or development of professional capabilities, and, when
appropriate, the recommendation of other professionals.
- In all circumstances where the client is requesting services and/or products beyond
the scope of an Institute professional's competence or offerings, an Institute
professional shall:
(1) inform clients of his or her inability to provide the
requested products and/or services; and
(2) either refer the client to another service provider or decline to accept the
assignment.
Code Principal 8 - answerRequires Institute professionals to "comply with legal and
regulatory requirements related to one's practice of his or her profession."
-Institute professionals are governed by various legal rules and requirements based
upon common law, fiduciary obligations,
Code Principal 9 - answerMaintain a high level of ethical conduct.
General compliance with this principle can be enhanced by observing the following
guidelines:
• Abide by statutory and regulatory rules and requirements.
• Establish and maintain a standard of excellence in all aspects of investment
management consulting, investment advising, and wealth management.
