Ethics and Professionalism in Financial Advice

Running head: ETHICS AND PROFESSIONALISM IN FINANCIAL ADVICE
Ethics and Professionalism in Financial Advice
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Author Note

ETHICS AND PROFESSIONALISM IN FINANCIAL ADVICE1
Table of Contents
Answer to Question 1.................................................................................................................2
Answer to part A....................................................................................................................2
Answer to part B....................................................................................................................2
Answer to Question 2.................................................................................................................3
Answer to part A....................................................................................................................3
Answer to part B....................................................................................................................4
Answer to Question 3.................................................................................................................4
Answer to Question 4.................................................................................................................5
Answer to part A....................................................................................................................5
Answer to part B....................................................................................................................5
Answer to Question 5.................................................................................................................6
Answer to part A....................................................................................................................6
Answer to part B....................................................................................................................6
Reference list..............................................................................................................................7

ETHICS AND PROFESSIONALISM IN FINANCIAL ADVICE2
Answer to Question 1
Answer to part A
Virtue Ethics
The difficulty faced by an individual in taking decisions that are ethical tend to be the
extremes of right and wrong or good and bad. The options are there in the grey area, the area
in which the decision to act might be somewhat more wrong or more correct. Aristotle (384-
322 BC), was the Greek philosopher who believed that an individual can become good by
making good selections and choices (Van Hooft 2014). He advanced the philosophy of
practical wisdom and termed it as phronesis. He believed that the capability to choose
reasonably about the virtues emerges from general reflection of an individual (Bright, Winn
and Kanov 2014). It lays emphasis upon the moral character of an individual who is doing the
act instead of the rules and duties of ethics. It is concerned with the overall life of an
individual and not of particular actions. There exists a combination of virtues for the living
beings from which they would get advantage and not any separate combination for any
different human being (Prior 2016). The virtues are natural to the human beings who are
mature despite being hard to adopt. They are believed to have temperance, justice, fortitude
and prudence in them.
Answer to part B
Partisanship
The financial advisers play a very important role in the life of their clients. They are
the ones who look after the financial health of their clients. The relation between a client and
a financial adviser is similar to that of a patient and a doctor. This relationship between the
two parties is known as Partisanship (White and Ypi 2016). In social psychology, the word
partisan means those are aligned with or are adherent to a particular closet, person, faction or