On this BIF Bites podcast episode, Jerry, Kaylee, and Tiffany sit down to discuss CFP Board's Code of Ethics and Standards of Conduct. More specifically, they're focusing on the seven steps of the financial planning process, common pitfalls, and disciplinary actions. If you're studying for the CFP® Exam, make sure to listen to this episode, as ethics and standards are highly tested topics!
Takeaways
- The importance of understanding the scope of engagement in financial planning
- How to think of the seven steps are a checklist, similar to an airline pilot's pre-flight checklist
- How missteps in defining the scope can lead to exam failure and professional misconduct
- Why disclosing conflicts of interest is crucial to maintaining trust and compliance
- The penalties you may experience if you don't follow the rules
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BIF Bites podcast episodes are a great way to supplement your knowledge, but if you're planning on taking the CFP® Exam, you're going to need a more comprehensive exam prep course. The BIF Review covers exactly what you need to know at the level you need to know it so you're focusing on what counts and staying out of the weeds. Plus, our instructors are subject matter experts with both practical and instructional expertise, so they make complex concepts practical and easy to understand!
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