Operating with ethical principles is a foundation requirement for those who provide advice affecting the financial well-being of their clients.  Although not well-known, the Financial Industry Regulatory Authority, Inc. (FINRA) exists to protect investors. From their website comes the following summary of their role:

 

FINRA is the largest independent regulator for all securities firms doing business in the United States. We oversee nearly 5,000 brokerage firms, 175,000 branch offices and 680,000 registered securities representatives. Our chief role is to protect investors by maintaining the fairness of the U.S. capital markets.

 

FINRA’s rules are extensive but may be summed up by the following statement:

 

A member, in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade.

 

In serving clients, I hold myself responsible for adhering to the highest ethical standards including, but not limited to, FINRA’s rules and the following:

 

• I will serve clients with integrity, competence, independence, objectivity and professionalism.

 

• I will remain independent of insurance companies and other firms that might bias my recommendations.

 

• I will assess client needs, objectives and risk tolerance thoroughly in order to make sure my recommendations are appropriate under the circumstances.  For investment clients, I will review requirements not less frequently than once every year.

 

• I will maintain client confidentiality and take reasonable steps to prevent access to client information by unauthorized persons.

 

• I will provide full disclosure of all sources of compensation that result from my advice or services.