Your Rights as a Client

You have the right to a planner who has integrity

Trust between you and your financial planner is central to a successful financial planning relationship. You rely on your planner’s honesty, professionalism and abilities to work towards your financial and life goals. When you know that your planner takes his or her professional obligations seriously, and places principles over personal gain, you can develop the type of partnership that is crucial to the success of any professional relationship.

You have the right to objective advice

Your needs should be at the heart of all recommendations made by your financial planner. Your planner should use his or her experience and judgment to carefully consider your situation, and provide you with advice that best meets your goals. Sometimes, this objectivity may require the planner to explain that your goals are unrealistic given your current resources and financial commitments. Your planner may then suggest alternative goals or priorities.

You have the right to a planner who is competent

You have the right to expect your planner to demonstrate an appropriate level of knowledge to offer financial planning advice, such as attainment of the CERTIFIED FINANCIAL PLANNER™ certification or Chartered Financial Consultant or Certified Public Accountant-Personal Financial Specialist designations. Your planner should complete continuing education courses as part of his ongoing commitment to competency.

You have the right to be treated fairly

Your planner should treat you the same way he or she would like to be treated in a professional relationship. This involves clearly stating what services will be provided and at what price. The planner should also explain the risks associated with his financial recommendations and any potential conflicts of interest.

You have the right to privacy

To get the best results from your financial planning relationship, you need to divulge relevant personal and financial information to your financial planner on a regular basis. Your planner should keep this information in confidence, only sharing it with others to conduct business on your behalf, at your consent, or when ordered to do so by the courts.

You have the right to a planner who is professional

Your planner should not provide investment advice or stock brokerage services unless he or she is properly qualified and licensed to do so, as required by state or federal law. If your situation requires expertise that your planner does not possess, he should suggest other professionals who may assist you.

You have the right to a planner who is diligent

Your financial planner should discuss your goals and objectives with you and explain what you can expect from the relationship before engaging you as a client. Once the planner has determined that he (or his staff and/or network of related professionals) can assist you and has gathered sufficient information, the planner should make - and, if appropriate implement - recommendations that are suitable for you.