Evaluation of Jillian Whitmore's Compliance with FPSC Code of Ethics

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Personal Finance
Jillian Whitmore, Financial Planner

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Table of Contents
Introduction............................................................................................................................. 2
Beth and John Hubbard............................................................................................................2
Kathy and Rick Allen.................................................................................................................4
Conclusion................................................................................................................................ 6
References................................................................................................................................7

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Introduction
In today’s competitive business world, the importance of compliance with ethical
principles has grown. There is a direct link between ethics and professional behavior since
professionals are expected to comply with moral principles while they discharge their
duties. Compliance with ethical principles ensures that the professionals prioritized the
interest of their clients above anything else (de Graaf, 2018). In this report, the case of
‘Jillian Whitmore, Financial Planner’ will be evaluated to evaluate whether Jillian followed
the Financial Planning Standards Council (FPSC) Code of Ethics. There are eight ethical
principles which financial professionals have to comply with as per FPSC to ensure that they
display ethical behavior in the organization (FPSC, 2017). In this report, the instances where
Jillian adhered to or ignored/violated the principles will be identified. For each instance
where Jillian failed to comply with a particular provision, suggestions will be made to ensure
that she engage in an ethical manner.
Beth and John Hubbard
In the case of Beth and John Hubbard, Jillian complied with some of the principles issued
by the FPSC; however, she has failed to comply with a few as well.
 Principle 1: Client First
Jillian prioritized the interest of Hubbard’s above her personal interest since she did not
force them to invest their money in the mutual funds. She knew that they have a low-risk
tolerance based on which she avoided putting her interest above their benefits.
 Principle 2: Integrity
Jillian maintained integrity while dealing with Hubbard’s since she gave them honest
advice as per their situation. She rigorously adhered to the moral rules while giving advice to
them by observing their requirements to ensure that her advice meets their requirements.
 Principle 4: Competence
Jillian adhered to the principle of competence since she ensured that she has enough
skills and knowledge while giving advice to her clients (FPSB, 2011). For example, when Beth