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professional

standards

Education, ethics, advice and service quality

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The world of tomorrow belongs to

those who have the vision today

Want to simplify your finances?

Speak to a specialist   ph: 03­­­ 9848 9811

Monday – Friday 8.30am to 5.30pm (Melbourne time)

Want to simplify your finances?

Speak to a specialist   ph: 03­­­ 9848 9811

Scholten Collins McKissock is committed to promoting and maintaining a high standard in financial advice, with a focus on education, ethics, advice and service quality.

These standards go further than government reforms, establishing a best practice position for the financial advice sector. They include:

  • Minimum education standards for financial planning advisers are set at a high level. All new SCM financial planning advisers are (or are committed to being) Certified Financial Planners (CFP) or equivalent.
  • The FPA Code of Ethics and Professional Practice is adopted by all SCM’s financial planning advisors.
  • SCM complies with the ISO 9000 Series, a set of international standards for quality management and quality assurance.

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Scholten Collins McKissock is committed to promoting and maintaining a high standard in financial advice, with a focus on education, ethics, advice and service quality.

These standards go further than government reforms, establishing a best practice position for the financial advice sector. They include:

  • Minimum education standards for financial planning advisers are set at a high level. All new SCM financial planning advisers are (or are committed to being) Certified Financial Planners (CFP) or equivalent.
  • The FPA Code of Ethics and Professional Practice is adopted by all SCM’s financial planning advisors.
  • SCM complies with the ISO 9000 Series, a set of international standards for quality management and quality assurance.

CFP® certification is recognised as the highest standard in personal financial planning.

CFP professionals are dedicated to using the financial planning process. To earn the prestigious CFP certification and remain certified as a CFP professional, individuals must meet a set of requirements.

Education

They must complete a comprehensive course of study offered by a college or university program (ranging from certificate to doctoral degree levels) which covers a personal financial planning curriculum approved by CFP Board. In addition, they must have earned a bachelor’s degree from a regionally accredited college or university.

Examination

CFP professionals must successfully complete CFP Board’s comprehensive examination, which tests an individual’s ability to integrate and apply their financial planning knowledge.

Experience

They must acquire three years of financial planning related experience, or a limited 2-year structured option, before achieving the right to use the CFP marks.

Ethics

They must voluntarily ascribe to CFP Board’s code of ethics and additional requirements as mandated. This includes providing financial planning services as a fiduciary, or acting in the client’s best interest.

All SCM practitioners are CFP certified or on a pathway to receive certification.

The ISO 9000 family of quality management systems standards is designed to help organisations ensure that they meet the needs of customers and other stakeholders while meeting statutory and regulatory requirements related to a product.

ISO 9000 deals with the fundamentals of quality management systems, including the eight management principles upon which the family of standards is based. The ISO 9000 series are based on eight quality management principles.

Principle 1 – Customer focus

Organisations depend on their customers and therefore should understand current and future customer needs, should meet customer requirements and strive to exceed customer expectations.

Principle 2 – Leadership

Leaders establish unity of purpose and direction of the organisation. They should create and maintain the internal environment in which people can become fully involved in achieving the organisation’s objectives.

Principle 3 – Involvement of people

People at all levels are the essence of an organisation and their full involvement enables their abilities to be used for the organisation’s benefit.

Principle 4 – Process approach

A desired result is achieved more efficiently when activities and related resources are managed as a process.

Principle 5 – System approach to management

Identifying, understanding and managing interrelated processes as a system contributes to the organisation’s effectiveness and efficiency in achieving its objectives.

Principle 6 – Continual improvement

Continual improvement of the organisation’s overall performance should be a permanent objective of the organisation.

Principle 7 – Factual approach to decision making

Effective decisions are based on the analysis of data and information.

Principle 8 – Mutually beneficial supplier relationships

An organisation and its suppliers are interdependent and a mutually beneficial relationship enhances the ability of both to create value.

The eight principles in the FPA Code of Ethics serve as minimum
benchmarks for professional behaviour.

The principles act as a point of reference for all stakeholders
including members, users of financial planning services,
regulators and government.

Principle 1 – Client First

Place the client’s interests’ first

Principle 2 – Integrity

Provide professional services with integrity

Principle 3 – Objectivity

Provide professional services objectively

Principle 4 – Fairness

Be fair and reasonable in all professional relationships. Disclose and manage conflicts of interest

Principle 5: Professionalism

Act in a manner that demonstrates exemplary professional conduct

Principle 6 – Competence

Maintain the abilities, skills and knowledge necessary to provide professional services competently

Principle 7 – Confidentiality

Protect the confidentiality of all client information

Principle 8 – Diligence

Provide professional services diligently

Working together to create a financial strategy that’s right for you

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Working together to create a financial strategy that’s right for you

DISCLAIMER:It’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account. Neither Godfrey Pembroke Ltd, an Australian Financial Services Licensee, nor its authorised representatives and Elector Pty Lt atf Scholten Collins McKissock Trust warrant or represent that the information in this site is free from errors or omissions or is suitable for your intended use. Godfrey Pembroke Ltd is a wholly owned subsidiary of National Australia Bank Limited. All information on this website is subject to change without notice.