Listen to the series by clicking on the episodes below, answer the questions and earn 4.5 Professionalism & Ethics FASEA CPD hours

For questions please contact

Ethics for Advisers

Subordinate or die

Reading the Code of Ethics will require another level of thinking from advisers if practitioners are still getting hung up on being prescriptive about certain aspects of the Code of Ethics, Dr Simon Longstaff explains. David Graham empathises with advisers in more corporatised structures than his own but suggests all advisers need to stand up for what they believe is right.

Participants: Dr Simon Longstaff, David Graham

Facilitator: Matthew Smith

Length: 48 mins, 52 seconds

Take the QUIZ to earn your CPD points

Question 1
* Anyone who volunteers to be part of a profession must be prepared to do the following, according to Simon Longstaff:
Question 2
* Rather than take the more prescriptive “Code of Conduct” approach, FASEA decided to go down the “principle-based” Code of Ethics path expressed through standards. This means advisers need to:
Question 3
* What’s standing in the way of the advice industry having its own statutory fund contributed to by other participants in the industry designed to subsidise the cost of advice for individuals who might not be able to afford it, according to Simon Longstaff?
Question 4
* Simon Longstaff describes as “rubbish” the assertion that it may be difficult to act without a conflict as directed under Standard 3 of the Code. He suggests advisers consider the following in relation to Standard 3:
Question 5
* If a situation deeply offends your sense of right and wrong and you feel there is a duty owed to the client, then, according to both Simon and David, advisers needs to be prepared to:

Share This Article