Applying The Duty Of Competence To Financial Advice, Including With Respect To A Client's Existing Annuity

This case study provides practical guidance to CFP® professionals on applying the Duty of Competence under the Code and Standards when advising clients about complex financial products like annuities. Participants will learn how to fulfill their fiduciary duty when they lack specific product expertise, including when to obtain assistance from competent professionals, how to properly limit the scope of engagement, and how to act with appropriate care, skill, and diligence in client recommendations.