Analysis of Ethics and Professionalism in Financial Advice (FPC002B)

This assignment provides a comprehensive analysis of ethics and professionalism within the context of financial advice. It begins by exploring virtue ethics and the concept of partisanship, highlighting the importance of ethical decision-making for financial advisors and their duty to prioritize client interests. The assignment then delves into deontological and teleological ethical theories, offering insights into the frameworks that guide ethical behavior. Furthermore, it examines the impact of partisanship on the client-advisor relationship, focusing on cognitive biases and rationalizations that can undermine ethical conduct. The assignment also explores the impact of cognitive biases on decision-making and the five main blind spots that can lead to unethical behavior, including motivated and indirect blindness. Finally, it discusses the implications of regulatory changes, such as the FASEA regime, on the financial planning profession's status and educational standards.