FINANCIAL PLANNING PROCESS AND ESTATE PLANNING

ASSIGNMENT #2
PROFESSIONAL STANDARDS & THE FINANCIAL SERVICES INDUSTRY

Due: Thursday February 6th – typed, printed, stapled, handed in first thing.

Grade Weight: 10%

Details: Single space and a half, font size 11, Arial

Length: Should not exceed 8 pages

Tasks and Requirements

The purpose of this group assignment is to research and analyze the link between the code of ethics,
rules of conduct and financial planning practice standards.

Specific emphasis will placed on ethical principles and rules in the financial planning industry;
specifically governed by the Financial Planning Standards Council. Utilizing this research and analysis
you are required to write no longer than an eight page document.

You will be selected into groups of 3 students.

The assignment is to be submitted as a hard copy meaning; typed, printed and stapled at the beginning
of the class.

Your primary resource for this assignment is the (CFP) code of ethics, Rules of conduct and financial
planning practice standards for the Financial Planning Standards Council (FPSC) which is provided to
you below:

http://www.fpsc.ca/docs/default-source/FPSC/standards-and-
enforcement/standards_of_professional_responsibility.pdf#page=8;

You may also use your BFIN 380/382 textbook as a resource, but you may not USE examples from the
text in your answers.

You may use other resources as you find applicable.

Please ensure all work is cited properly using APA citation methods.

Please ensure each group member’s name is submitted on the assignment.

Grading rubric provided at the end of the assignment.

1 School of Business
© 2016, Southern Alberta Institute of Technology
 FINANCIAL PLANNING PROCESS AND ESTATE PLANNING

1. Write a two page summary evaluating “Why it is important for Financial Planners to follow the code
of ethics, rules of conduct and financial planning practice standards”?
a. Approach this question from the point of view of the financial planner, the client, the company
for which the financial planner works for and the financial planning industry as a whole.
b. This section of the assignment should be written in paragraph format.
c. This section of the assignment is worth 16 marks

2. In your own words:

a. Write a paragraph interpreting each of the eight principles of the code (what do they mean in
your own words).
a. At the conclusion of each principle, formulate a specific industry example where the principle
may apply.
b. This section of the assignment is worth 16 marks

3. In regards to the practice standards, choose four of them and:

a. Formulate and write an example of a situation that you believe violates the standards. Sources
may be referenced from IIROC, your own personal knowledge and experience, or from other
web bases resources.
c. Next propose and write a possible course of action that could have been implemented to avoid
the violation.
d. This section of the assignment should be four to six pages in length. 8 marks

2 School of Business
© 2016, Southern Alberta Institute of Technology
 FINANCIAL PLANNING PROCESS AND ESTATE PLANNING

Section 1 (total 16 marks)

16 marks critical thinking, analysis, completeness of response exceptional to mastery

12-15 marks critical thinking, analysis, completeness of response above average

8-11 marks critical thinking, analysis, completeness of response evident and average

4-6 marks critical thinking, analysis, completeness of response requires additional effort

1-3 marks critical thinking, analysis, completeness of response is marginal

0 marks critical thinking, analysis, completeness of response is missing

Section 2 (total 16 marks)

16 marks critical thinking, analysis, completeness of response exceptional to mastery

12-15 marks critical thinking, analysis, completeness of response above average

8-11 marks critical thinking, analysis, completeness of response evident and average

4-6 marks critical thinking, analysis, completeness of response requires additional effort

1-3 marks critical thinking, analysis, completeness of response is marginal

0 marks critical thinking, analysis, completeness of response is missing

Section 3 (total 8 marks)

8 marks critical thinking, analysis, completeness of response exceptional to mastery

6-7 marks critical thinking, analysis, completeness of response above average

4-5 marks critical thinking, analysis, completeness of response evident and average

2-3 marks critical thinking, analysis, completeness of response requires additional effort

1 mark critical thinking, analysis, completeness of response is marginal

0 mark critical thinking, analysis, completeness of response is missing

3 School of Business
© 2016, Southern Alberta Institute of Technology