Resources/ Updates


Certified Financial Planner ~ Proposed Code of Ethics and Standards of Conduct

The Certified Financial Planner Board of Standards seeks feedback on its new, 17 page draft proposal entitled Code of Ethics and Standards of Conduct.  If approved, it would require Certified Financial Planner professionals (“CFP® pros”) to act as fiduciaries—put a client’s interest first—at all times.  It would also update the standards related specifically to financial planning.

Highlights of Proposed Changes

  • A broader fiduciary standard that requires CFP® professionals to act in the best interest of the client at all times:
    • The draft requires a CFP® pro to act in the best interest of the client when providing financial advice to a client.  Note, under the current Standards, CFP® pros are required to act as a fiduciary when providing financial planning.
  • A shorter definition of financial planning and a presumption that financial planning is required:
    • The draft defines financial planning as “a collaborative process that helps maximize a client’s potential for meeting life goals through financial advice that integrates relevant elements of the client’s personal and financial circumstances.”
    • The draft sets forth a presumption that CFP® pros are required to provide financial planning when providing financial advice.
  • More specific Practice Standards for the delivery of financial planning:
    • The draft updates the Practice Standards  with the financial planning process beginning after the engagement has been formed and with goals selected after the CFP® pro understands the client’s personal and financial circumstances.
  • A revised process for addressing bankruptcies:
    • The draft includes bankruptcies as a type of adverse conduct to be handled through the disciplinary process (returning CFP Board to the process in place before 2012).
    • The draft includes an easier-to-read document for both the public and CFP® profs.

 To Comment

The 60-day comment period ends Monday, August 21, 2017.

Related Resources

CFP Board Releases Draft Revised Code of Ethics and Standards of Conduct – June 20, 2017

Final Standards for Public Comment: Proposed Code of Ethics Standards of Conduct – June 20, 2017

CFP Board Video about the proposed Standards

About SDDco Group

Formed in 1952, the SDDco Group ( delivers outsourced professional support to the financial services and technology sectors. Our menu of professional services includes accounting, regulatory and tax compliance, AML testing, brokerage hosting and supervision, as well as assuming designated FinOp, CCO, and CFO roles.  To connect with SDDCO:

  • Call Us:  212-751-4422
  • Email Us:
  • Ask Us:  contact form



SDDco specializes
in two industries.

Our know-how and our network supports the financial services & tech industries.

We hold the right training and licensures to keep you in step and mitigate risk.

Our Credentials


SDDco supports
industry leaders.

We oversee back office functions so you can focus on your own clients.

Major banks, private funds, RIAs, BDs, and tech startups choose us.

Our Clients


SDDco is as good
as its great people.

Our CPAs, FinOps and
consultants are licensed,
experienced professionals.

Partner with us for start-ups and for ongoing accounting, compliance and tax work.

Our People


SDDco performs
services onsite.

Outsourced support with
SDDco isn’t out of sight.

We work in your space and for your team on a regular basis. Engage the expertise without the fulltime hire.

Our Praises


SDDco observes
AICPA principles.

Our inaugural firm began
when two CPAs opened
a NYC office back in 1952.

We faithfully maintain the CPA standards: integrity, competency, confidentiality….

Our Group