5.25 Ethics CPD Hours
Practical application of ethics in the new regulatory environment
Where audits reveal advisers are falling short
A Live Instructor Led Web Series
The Ethics in Practice web series does more than deliver up 5.25 hours of Ethics CPD; it applies the Code of Ethics to real life scenarios, exploring the dilemmas and issues advisers face when meeting the requirements of the regulators and clients.
For financial advisers, ethics is more than a lofty subject with a hefty CPD requirement. Since the introduction of the new breach reporting rules on 1 October 2021, and the disciplinary body from 1 January 2022, the Code of Ethics has teeth.
Join us as we explore expectations of the Code of Ethics, the practical application of ethics in the new regulatory environment, and where audits reveal advisers are falling short of requirements.
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AU $425 members
AU $495 non-members
Knowledge Shop members, login for the discounted rate.
Need group or dealer group rates?
Email or contact Lee Marshall on 0434 067 133
Details
Recorded 29 November & 1, 3, 6 December 2021
FPA accredited for a total of 6 CPD hours (25818):
- 5.25 Professionalism & Ethics
- 0.75 Client Care & Practice
Terms & conditions: All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided for cancellations received 1 day prior to the webinar. No credits are available less than 2 hours prior to the event under any circumstances.
5.25 of your 9 Ethics CPD hours covered in one web series!
What we cover
Every authorised representative, full or limited, must complete 9 hours of ethics CPD every year. If you are a little... (ahem).. shy of those 9 hours, this essential webinar series creates 5 Ethics CPD hours while delivering an essential update on ethics and financial advice.
Using real advice examples, the Ethics in Practice Web Series identifies the key advice issues that will breach the Code of Ethics and provide you with practical examples of what you must now do to avoid a date with the disciplinary body.
What's included?
- 4 x 1.5 hour webinars
- 3 month access to Q&A embedded webinar recording - so don't worry if you can't make all of the live dates
- Reference notes
- CPD certificate on completion (registered attendee)
Are we ethical yet? The code of ethics, disciplinary body, and the slow boiling frog
Recorded 29 November 2021
ASIC has taken a conciliatory role in monitoring the Code of Ethics to date. But the heat has now been turned up with new breach reporting rules from 1 October 2021 and the impending implementation of the Disciplinary Body from 1 January 2022. This session sets the scene for the Code of Ethics in the new environment and identifies the ethical hot spots (no pun intended) for advisers.
- Breach Reporting the Code of Ethics and the new Disciplinary Body
- Setting the scene - what the evidence from 12 months of advice audits reveals
- Best interests’ duty and your ethical obligation to demonstrate broader long-term interests
- The obligations on advisers to report ethical breaches
Fee Engagement. Are you Relying on Your Client’s Good Faith in You?
Recorded 3 December 2021
Your clients trust you and will often agree to your fee and the fees charged in good faith. But, value is often a retrospective concept. “I didn’t understand what I was paying for”, is a common complaint in the industry. In a client’s mind, the value of advice is in the result, regardless of the strategy they chose to pursue. Buyers remorse is common when they cannot see a result that matched their expectations. So, what is your ethical obligation in practice and what are the grey areas?
- The ‘burden of disclosure’ and why you should be afraid when your client says “I trust you”
- Are you inadvertently exploiting your client’s trust
- What the adviser audits are telling us
- Client trust and understanding your fees
- Demonstrating client engagement
Does your client really understand what you’re saying?
Recorded 1 December 2021
Every time the market falls, complaints go up. Often clients will agree to advice, nod along to the recommendations and sign off to proceed on the advice, when it all goes wrong, often they then claim they did not understand the risks involved. The Code of Ethics requires you to ensure that your client has given you free, prior and informed consent. But when it comes to informed consent, they don’t know what you know. We explore your ethical obligations under the Code, and what this means in real life.
- Does your client really understand what you are saying?
- How do you know if your client has taken responsibility for the decisions they are making
- What adviser audits are telling us about the problem areas and the client’s understanding
- Are you leading the client?
- Adviser bias and behavioural ethics
- What is ‘informed consent’ in practice?
The Ethics of Risk
Recorded 6 December 2021
Is risk profiling ethical? Risk profiling can create its own ethical dilemmas for advisers. What you believe is in the client’s best interest is not necessarily what they believe is in their interests.
- Evidence from advice audits and client’s understanding of risk tolerance
- Risk profiling, behavioural ethics, and adviser bias
- Demonstrating client understanding and risk tolerance
Our presenter
with Conrad Gilbert
Conrad works with the profession to navigate the practical impact of change on advisers, their practices, and their clients. He has over 30 years’ experience in the Financial Services Industry, working across insurance and financial planning. Before joining Knowledge Shop, he held senior executive roles with national financial planning networks.
In addition to his work with Knowledge Shop, Conrad is currently completing a PhD in Finance and Financial Planning at Griffith University. He holds an MBA from the University of Qld, a Bachelor of Commerce from Griffith University and a Diploma of Financial Planning from Deakin University.