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IFIP Integrity
All members of the Institute are dedicated to upholding high professional standards and best practices. This commitment is underscored by the requirement that every member, regardless of level, adheres strictly to the
Uniform Code of Professional Conduct.
Building Trust
- To succeed as a consultant, your clients must have confidence that you prioritize their best interests. In a field often lacking clear guidance, membership in the Institute serves as a standard that clients can rely on.
- The Code of Conduct and the global designation reassure clients that they are engaging with top-tier consulting professionals. The Institute's public endorsement of this Code distinguishes members from non- members and Purpose
- The code aims to outline professional obligations that safeguard the public and clients alike, while also setting clear expectations for members and the profession. Knowledge
- Members are required to stay informed about the Code of Professional Conduct and the profession’s Common Body of Knowledge.
- Members are expected to stay updated on developments in their areas of expertise within the profession.
Self-Discipline
Members acknowledge the privilege of self-regulation and are responsible for maintaining the standards of the profession. This includes reporting any unprofessional conduct to the Board
Responsibilities for Others
- Members must ensure that financial consultants working on their behalf are knowledgeable about and compliant with the Code of Professional Conduct.
- Members are obligated to uphold the profession’s reputation and its ability to serve the public interest.
- Members should avoid actions that could compromise the quality of their professional advice or their professional standing.
Responsibilities to the Client
Due Care
- Members must act in the best interests of their clients, providing services with integrity, objectivity, and independence.
- Members should not foster unrealistic expectations among their clients.
Business Development
- Members should refrain from pursuing business methods that could tarnish the Institute’s professional reputation.
Competence
- Members should only accept assignments for which they have the necessary knowledge and skills.
Informed Client
- Before taking on an assignment, members should establish mutual understanding with the client regarding objectives, scope, work plan, and costs.
Fee Arrangement
- Members must agree on fee structures with clients before commencing substantial work, and disclose any arrangements that might compromise their objectivity or independence.
Conflict
- Members should avoid simultaneous representation of conflicting interests without prior disclosure and agreement from all parties involved.
- Members must inform clients of any personal interests that could affect their professional judgment.
- Members should not exploit client relationships by encouraging their employees to seek alternate employment without discussing it with the client first.
Confidentiality
- Members are required to treat all client information as confidential.
Objectivity
- Members must avoid conditions that could compromise their independence, and should withdraw from assignments if such conditions arise.
Legal
- Members are obligated to comply with relevant legislation and laws.