The Code of Ethics for the
€uropean Financial Planning Association™ (€FPA™)

The €FPA Licensee is not Honourable Because He Acts Ethically,
The €FPA Licensee Acts Ethically Because He is Honourable.

Introduction

The €uropean Financial Planning Association Code of Ethics delineates the standard of personal and professional conduct expected of €FPA Licensees. A Disciplinary Committee in each country, established under the €FPA Articles of Association, supervises cases involving breaches of the Code of Ethics and other cases of questionable conduct involving Licensees or students sitting for €FPA accredited examinations. National Disciplinary Committees may, at their discretion, perform background checks on prospective Licensees to ensure that those with a record of deistructive behaviour do not enter into the ranks of the financial planning and financial advising professions.
The €uropean Financial Planning Association seeks to promote the highest professional and ethical standards in the financial planning and financial advising sectors in Europe. To accomplish this, the Association looks to all its Licensees to uphold these standards, the reputation of the Association as a whole and more broadly to enhance the esteem of financial planning in the eyes of clients, the financial services sector and the public. Employed Licensees may be subject to specific rules and requirements resulting from the employment contract.

The Code

1. Integrity

Licensees will perform financial planning or financial advising functions in the best interests of the public and shall act with the highest degree of integrity in any professional engagement.

    Licensees bear the responsibility of behaving in a manner that benefits the profession by serving the public interest, honouring the special trust the public places in €FPA Licensees and behaving with dignity in the performance of their duties. As guardians of the public trust and confidence, Licensees should employ the highest sense of fairness, integrity and clarity in all professional engagements.

 
2. Transparency

Licensees shall remain objective at all times or shall explain to clients the reasons for instances compromising objectivity unless it is obvious to the client that the Advisor represents his or her employer in matters pertinent to representation.

    A Licensee should maintain objectivity, intellectual honesty and shall disclose all conflicts of interest in performing his professional duties. Where obligations to employers make true objectivity impossible, such situations should be clearly explained to clients. When performing financial advisory functions the Licensees shall inform the client whether he/she is independent or representing an employer.

 
3. Primacy of client interests

Licensees shall place the client's interests above their own private interests at all times.

    In every engagement with a client the Licensee will place the client's interest above his own. The Licensee accepts the responsibility, when recognising circumstances where prejudicial influences or conflicts of interests may affect, or be perceived to affect, objective judgement, to declare such influences or conflicts to clients and other concerned parties and take action as required.

 
4. Due care

Licensees will perform all professional services with the utmost of due care and competence.

    A Licensee shall endeavour to acquire and encourage others to acquire relevant qualifications and skills and shall comply with the profession's technical and ethical standards and codes, strive to improve the quality of service and as a result the esteem of the profession and perform services to the best of his or her ability.

 
5. Continue education

Licensees will continue to educate themselves and maintain the highest level of preparedness and professional competence.

    A Licensee shall acquire, maintain and use the standards of knowledge and due care relevant to his role as financial planner or financial Advisor or for any function performed in his professional service.

 
6. Confidentiality

Licensees will keep all client information confidential according to national laws and any rules resulting from employment.

    A Licensee shall request all relevant records and documentation as is necessary to satisfy the requirements of the client and the Licensee shall respect confidentiality of all information obtained in the performance of his professional services unless otherwise required or permitted by law or in the course of a civil dispute.

 
7. Professionalism

Licensees will act with professionalism and will comport themselves in a manner that brings honour and dignity to the profession.

    A Licensee shall act in an honest and courteous manner towards all persons in business relationships and shall enhance the standing of the profession in the community in which he or she serves.

 
8. Diligence

Licensees shall be diligent in discharging responsibilities to clients and the public and shall render such services promptly, carefully and thoroughly.

    Diligence requires a Licensee to plan and supervise adequately and fully any professional activity for which he or she is responsible.

 
9. Skills and tasks assumed

Licensees shall only assume tasks for which they have the proper experience, knowledge, skills and overall competence.

    A Licensee shall recognise and act only within the limits of professional competence and any limits of authorisation. Licensees must recognise circumstances where knowledge and competence are not sufficient to the task and inform the client of such deficiencies.

 
10. Comply with all laws

Licensees shall comply with all laws and regulations in places where they practice or may have cause to practice.

    A Licensee should understand and observe the relevant laws and regulations governing professional practice and adhere to this Code of Ethics and any Codes set by Regulatory Authorities.


11. Fees and costs

Licensees should make clear all fee and cost arrangements with clients prior to entering into a contract for services.

    A Licensee should be willing and able to explain the basis of fees and/or other remuneration related to services performed on behalf of the client.

 
12. Explaining the Code of Ethics to clients

Licensees shall, upon request, provide a copy of this Code of Ethics and shall explain to clients, where questions arise, the meaning of its provisions.

    A Licensee should be able to explain how the provisions of this Code of Ethics function in the planner-client relationship and what his or her role and obligations are with respect to the clients, his employer and the €uropean Financial Planning Association.

 
13. Encourage acceptance

Licensees should encourage acceptance of this Code of Ethics and the philosophy for which it stands.

    All financial planners and Advisors are encouraged to promote this Code of Ethics and further the ideology behind them to other colleagues and clients. Advancing, both internally and externally, the standing of the profession and the commitment to excellence we strive for is the responsibility of all practitioners.

 
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