What is a Fee-only Non-intermediating Personal Financial Planner?
A fee-only non-intermediating personal financial planner is a highly trained professional who is committed to working in the best interests of their clients. They serve their clients without muddling
the financial planning relationship with retail financial intermediation. They operate to high standards in the field of financial planning. They undertake a fiduciary oath and observe a code of
The Fiduciary Oath
“I shall plan my client before planning my client’s personal finances. I shall not conduct any retail financial intermediation. I shall exercise my best efforts to act in good faith and in the best
interests of my client. I shall provide written disclosure to the client prior to my engagement, and thereafter throughout the term of the engagement, of any conflicts of interest, which will or
reasonably may compromise my impartiality or independence. I, or any party in which I have a financial interest, do not receive any compensation or other remuneration that is contingent on my
client’s purchase or sale of a financial product. I do not receive a fee or other compensation from another party based on the referral of a client or the client's business.
Following the Fiduciary Oath means I shall:
Always act in good faith and with honesty.
Be proactive in disclosing any conflicts of interest that may impact a client.
Not accept any referral fees or compensation contingent upon the purchase or sale of a financial product.”
The Code of Ethics
Objectivity: We strive to be as unbiased as possible in providing advice to clients, and we practice on a Fee-Only basis.
Confidentiality: We shall keep all client data private, unless authorisation is received from the client to share it. We shall treat all documents with care and take care when disposing of them.
Relations with clients shall be kept private.
Competence: We shall strive to maintain a high level of knowledge and ability. We shall attain continuing education. We shall not provide advice in areas where we are not capable.
Fairness & Suitability: Dealings and recommendation with clients will always be in the client’s best interests. We put our clients first.
Integrity & Honesty: We will endeavour to always take the high road and to be ever mindful of the potential for misunderstanding that can accrue in normal human interactions. We will be diligent
to keep actions and reactions so far above-board that a thinking client or other professional would not doubt our intentions. In all actions, we are mindful that in addition to serving our clients,
we are about the business of building a profession, and our actions reflect this.
Regulatory Compliance: We will strive to maintain conformity with legal regulations.
Full Disclosure: We shall fully describe our method of compensation and potential conflicts of interest to clients.
Professionalism: We shall conduct ourselves in a professional way at all times. This involves integrity, honest treatment of clients, and treating people with respect.
It’s all part of our mission.
To provide fee-only non-intermediating personal financial plans for our clients.
We live by three important values:
To be the beacon for independent, objective financial planning for individuals and families.
To be the champion of financial services delivered in the public interest.
To be the standard bearer for the emerging profession of financial planning.
We meet the following standards and continue to abide by such standards.
1. Fee-Only financial planner
We are compensated solely by the client with neither ourselves nor any related party receives compensation that is contingent on the purchase or sale of a financial product. We do not receive
commissions, rebates, awards, finder’s fees, bonuses or other forms of compensation from others as a result of a client’s implementation of our planning recommendations.
2. Prohibition of certain ownership interests and employment relationships
We, or a party related to us, do not own any interest in or are employed by a financial services industry firm that receives commissions, rebates, awards or any form of compensation that is
contingent on the purchase or sale of a financial product.
3. Compliance with industry regulations
We agree to comply with all statutes, rules, regulations, administrative and judicial rulings, and other authorities applicable to the provision of financial planning or advisory related
4. Prompt notification of certain disciplinary and legal events.
We have a continuing obligation to inform our clients, in a prompt manner and in writing, of significant disciplinary and legal events. These events include, but are not limited to, the
Any disciplinary inquiry or proceeding initiated by any civil or criminal authority or regulatory body, including any inquiry or proceeding relating to the firm with which we are associated;
Any disciplinary inquiry or proceeding initiated by a credentialing or membership organisation or authority to which we are subject,
Any bankruptcy, receivership, or other type of assignment or arrangement for the benefit or protection of our creditors or in relation to any entity in which we hold an interest of 5% or more.
"Related party" means a business colleague or family member with whom we share income or economic benefits. A related party may include, but is not limited to, a business partner or an officer or
Director of our business, or a spouse, parent, dependent minor child, an adult child still residing in the home, or other dependent.
"Financial services industry firm" includes any entity or individual that offers any type of financial service, e.g., securities broker or dealer, investment adviser, asset manager, investment
company, banking institution, savings institution, trust company, mortgage bank, credit union, savings and loan association, insurance broker or dealer or agent, real estate broker or agent,
commodities broker or dealer or agent.
Transparency Trophy Winner
The Academy founder, Steve Conley, picked up an award in September 2017 for his contribution to a more transparent financial services
industry. The award was presented by the Transparency Task Force founder, Andy Agathangelou - at the offices of Morningstar, in London. Steve is an Ambassador for the Transparency Task Force. He also
leads one of its teams, the Market Integrity Team which conducted a review into professional codes of conduct right across the financial services industry. He presented the resulting white paper to
British parliament in February 2018. This led to the establishment of the APPG on Financial Stability. For more details of the Transparency Task Force - check www.transparencytaskforce.org
If you would like to learn more about what Steve does to heal world grief and save the planet, why not check out our sister website
Values Based Adviser www.valuesbasedadviser.com