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Professional Ethics and Trust

By Daehong Kwon, CFP

One of the features that distinguishes the CFP designation the most from the other financial professionals or financial planners is the fact that we consider ‘ethics’ the most important virtue. It is true that ethics is one of the fundamental elements for every professional in the financial community, but it is rare that ‘ethics’ is prioritized on top of the values in a licensing process as it is in the case of “4E” required in the CFP certification requirement.

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Financial Trust: What Clients Are Really Looking For

Jae young Yang - CFP KoreaBy Jaeyoung Yang, CFP

Financial planning is planning for life. It can be done without any specific license. Note, however, that the performance of financial planning is dependent upon client who wants such services. Therefore, from whom does the client want the services? What kind of certificate of qualification would they want their planner to have? And from which organizations does the client want such services?

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Trust & Ethics: Keeping Financial Planners Honest

Mukesh Dedhia, CFP, IndiaBy Mukesh Dedhia, CFP

Trust! The word itself, gives you a sense of attachment. A belief that nothing will go wrong and even if it does then there is somebody to get you out of the trouble maze! For example, when a father throws his child up in the air, the child laughs his heart out, rather than fearing a fall. Why? Because there is a natural bond of trust between a child and parent. The child is sure, that, when it is with its’ parents, nothing can go wrong!

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Professional Ethics Checklist

Korean Financial Planning Professional Sunho KimBy Sunho Kim, CFP®

Financial consumer protection has come to the forefront of financial planning since the global financial crisis, caused by the 2008 subprime mortgage crisis. Also, the Consumer Financial Protection Bureau was newly established under FRB in the USA. Likewise, in Korea, the Financial Consumer Protection Agency is going to be established as an independent organization under the Financial Supervisory Service following the public announcement of Laws Related to Financial Consumer Protection (Nov. 2011).

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Lessons from Literature: What Financial Planners Can Learn from Voltaire and Shakespeare

By Martin Casals Iglesias, CFP

Trust and results. Voltaire and Shakespeare have something to teach us.

Reliability and delivery of results: two concepts that are somehow the center of the relationship between a service provider and its customers. When we are talking about a profession that is still looking to establish itself and earn a reputation, these concepts become even more important.

“I would have greater confidence in the performance of a man who expects to have a great reward than in that of the one who has already received it.”

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How To Build Client Trust

By Taylor Liao, CFP

It’s premature to call financial planning a profession in Taiwan. A client today in Taiwan will receive name cards with the title of the so-called “financial consultant” from many sources–insurance companies, banks or even loan companies. It’s not easy to make ourselves distinguished for our profession.

How do you earn the trust of your clients? In my opinion, it’s our responsibility to build the trust of our clients. Since our clients can’t tell the difference between a financial planner and other sales, how can they respect our profession?

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Integrity: An Old-Fashioned Virtue?

By Alec Riddle, CFP

Every week we read another headline about corruption, fraud, tax evasion, manipulated tenders and the like and unfortunately it’s invariably all happening at leadership level. So the question we have to ask ourselves is, are the Leaders of today corrupt and lacking in integrity?

Robert Hoyk and Paul Hersey say that the disconcerting answer is that these leaders are no different than any of us. “With the advent of Social Psychology, which is the behaviour of individuals in groups, we have learned that the influence of the situation often overpowers the influence of personality.

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Trust & Ethics – A Never Ending Responsibility for Continuing Professional Development

Tobias Maag CFP BrazilBy: Tobias Maag, CFP

Ethics in the “real world” was the theme of Instituto Brasileiro de Certificação de Profissionais Financeiros’ (IBCPF) last continuing professional development event for 2011, focusing on the organization and implementation of ethics in a major financial institution, its scope, challenges and possible solutions.

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