Question: John, age 58, has been using a CFP Practitioner for the last 15 years. The CFP Practitioner recently retired and, as a result, John has
John, age 58, has been using a CFP Practitioner for the last 15 years. The CFP Practitioner recently retired and, as a result, John has decided to engage Tom, who is also a CFP practitioner, but unaffiliated with John's original practitioner. After analyzing and evaluating John's current financial position, Tom made his recommendations. Those recommendations differed from that of John's original practitioner. According to Practice Standard 400-2, how should the differing recommendations be handled? a. The Code of Ethics requires a CFP practitioner to act in a professional manner and recommendations should not conflict with other CFP practitioners, provided those recommendations reasonably meet the client's goals, needs and priorities. b. Significant differences in recommendations between planners are acceptable, as long as the recommendations reasonably meet the client's goals, needs and priorities. c. The Code of Ethics require Tom to contact John's prior practitioner to reconciled differences in their recommendations. d. Practice Standard 400-2 requires Tom to exercise professionalism, limit the scope of the engagement to recommendations that are consistent with the John's previous practitioner
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