Implications of the Code and Standards for "Fee-Only" CFP® Professionals

While a cornerstone of the new Code of Ethics and Standards of Conduct ("Code and Standards") is the requirement that all CFP® professionals act as a fiduciary at all times when providing financial advice to a client, the new Code and Standards has specific implications for ‘fee-only’ CFP® professionals. This resource provides these CFP® professionals the guidance they need to continue work on a ‘fee-only’ basis and stay in compliance with the new rules.

Highlights of this guidance document include:

• Clear, plain English definitions on what it means to be practicing as a “fee-only” CFP® professional.
• Decision trees to help CFP® professionals determine if they are providing financial advice and financial planning.
• Examples of conflicts of interest and suggestions for how to address them.
• A detailed graphic illustrating the practice standards for the financial planning process.
• Specific requirements for what information CFP® professionals must provide clients.

Download the Implications of the Code and Standards for "Fee-Only" CFP® Professionals