Index
Index of Case Studies Applying the Code and Standards
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CFP Board has developed case studies to provide practical guidance to CFP® professionals and their firms on the new Code of Ethics and Standards of Conduct ("Code and Standards"), effective October 1, 2019.
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Watch Case Study VideosEach case study presents a hypothetical factual circumstance and then asks a question about a CFP® professional’s duty in that circumstance under the Code and Standards. The case study then presents the response options, identifies the best response, and then discusses the rationale for why that response is the best and why the other response options are not the best. CFP Board intends for these case studies to guide CFP® professionals in their application of the Code and Standards to their own practice.
Case Studies
Fiduciary Duty
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- The Fiduciary Duty Applies to a Rollover Recommendation
- The Fiduciary Duty Applies to an Opinion About a Financial Asset
- The Duty to Follow a Client's Instruction to Use a Specific Firm for Execution
- The Duty to Communicate Team Member Responsibilities
- The Fiduciary Duty to Obtain Factual Information When Working on a Team
- The Fiduciary Duty Does Not Apply When Providing General Financial Educational Materials Concerning Education Planning
- The Fiduciary Duty Does Not Apply When Providing General Financial Educational Materials Concerning Retirement Planning
- The Delivery of Firm Research Does Not Constitute Financial Advice
- The Fiduciary Duty When a Client Exhibits Signs of Lack of Capacity or Undue Influence
- Apply the Fiduciary Duty to Client Instructions that Conflict with the Duty of Care
- The Fiduciary Duty and an A Share Class Recommendation
- Applying the Fiduciary Duty to a Recommendation to Purchase Proprietary Life Insurance
- The Fiduciary Duty Applies to Financial Advice with Respect to the Holding of Bank Deposits
- The Fiduciary Duty to Take Reasonable Steps When Providing Professional Services as Part of a Team Within a Firm
Disclose and Manage Conflicts of Interest
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- The Duty to Disclose Material Conflicts of Interest When Making A Rollover Recommendation
- The Duty to Disclose Material Conflicts of Interest When Responding to a Client’s Investment Inquiry
- The Duty to Disclose Material Conflicts of Interest When Recommending a Product Issued by an Affiliate
- The Duty to Disclose and Manage Material Conflicts of Interest Involving Proprietary Products
Fiduciary Duty
Toggle Open
- The Fiduciary Duty Applies to a Rollover Recommendation
- The Fiduciary Duty Applies to an Opinion About a Financial Asset
- The Duty to Follow a Client's Instruction to Use a Specific Firm for Execution
- The Duty to Communicate Team Member Responsibilities
- The Fiduciary Duty to Obtain Factual Information When Working on a Team
- The Fiduciary Duty Does Not Apply When Providing General Financial Educational Materials Concerning Education Planning
- The Fiduciary Duty Does Not Apply When Providing General Financial Educational Materials Concerning Retirement Planning
- The Delivery of Firm Research Does Not Constitute Financial Advice
- The Fiduciary Duty When a Client Exhibits Signs of Lack of Capacity or Undue Influence
- Apply the Fiduciary Duty to Client Instructions that Conflict with the Duty of Care
- The Fiduciary Duty and an A Share Class Recommendation
- Applying the Fiduciary Duty to a Recommendation to Purchase Proprietary Life Insurance
- The Fiduciary Duty Applies to Financial Advice with Respect to the Holding of Bank Deposits
- The Fiduciary Duty to Take Reasonable Steps When Providing Professional Services as Part of a Team Within a Firm
Disclose and Manage Conflicts of Interest
Toggle Open
- The Duty to Disclose Material Conflicts of Interest When Making A Rollover Recommendation
- The Duty to Disclose Material Conflicts of Interest When Responding to a Client’s Investment Inquiry
- The Duty to Disclose Material Conflicts of Interest When Recommending a Product Issued by an Affiliate
- The Duty to Disclose and Manage Material Conflicts of Interest Involving Proprietary Products
Access More Guidance Materials
This compliance resource is part of a full library of resources that CFP® professionals can use to comply with the Code and Standards. More guidance materials can be found in our Compliance Resources Library.