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Finance & Accounting
Pages 4 (1004 words)
FINANCIAL PLANNING by (student’s name) course professor institution date Table of Contents Financial Planning 3 Question 1 a 3 Question 1 b 4 Question 1 c 6 References 8 Financial Planning Question 1 a The Financial Planning Association of Australia sets the code of ethics in financial planning and professional practice which sets the benchmark model for practice in the areas of financial planning in the community.
The ethical standards also require the financial planners to get acknowledgement from their clients for deploying funds in the high risk investment avenues. In cases of conflict of interest, the financial planners are required to regard their professional duty of giving priority to the interest of their client. Finally, the high standards of practice require the financial planners to provide unbiased financial advises to their clients for protecting their interests. The financial planning done by the planners of the Commonwealth Bank of Australia falls under the FPA code of professional and ethical practice. However, the issues that led to the inquiry by the Senate against the scandal in the Commonwealth Bank’s financial planning activities exposed the activities of the financial planners of CBA. ...
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