Alison has not been well lately and has just been diagnosed with early-stage breast cancer. Her doctors have recommended she take at least six months off from work to concentrate on her treatment plan, which they are in the process of finalising. As Alison will be away from the office for some time, she asks you to provide advice for her existing clients. Your first meeting with Alison's clients Kevin and Anika Leste. You will be meeting them for the first time and Alison has told you they are important clients because they often recommend family, friends and their own clients (from their business) to the practice. Kevin and Anika operate a successful bookkeeping business where they manage the accounts for many self-employed clients. There has been a longstanding referral relationship between Alison and the Lestes, which sees them share many clients. There remains frequent cross-referral of clients between Alison and the Lestes; however, this arrangement has been altered due to the introduction of the Financial Planners and Advisers Code of Ethics 2019. Where in the past, Alison simply paid them a referral fee, she now adjusts her advice fees (up or down) to Kevin and Anika, in lieu of referral payments. You read in the client notes that Alison recommended the Lestes establish an SMSF, and this has now been in place for nearly three years. The file notes state they have rolled over superannuation from their previous superannuation funds with AustralianSuper and Aware Super. Both funds were previously invested in the 'balanced' options. As bookkeepers, the Lestes undertake a lot of the SMSF administration work themselves. As you read through their file, it appears they have little knowledge of investing. The only assets currently in the SMSF are a $1.4 million term deposit with the CBA and the SMSF administration account with about $60,000. You review their goals and objectives listed in their file and note that their main goals are to build wealth for their retirement and help their adult children. After introducing yourself to the Lestes, you explain that as you are not fully aware of their financial situation, and as part of the review process, it would be worthwhile revisiting their current situation, goals and objectives. Part-way through the meeting, Kevin takes a phone call and states he will need to leave immediately to take care of some urgent business, and Anika can update him later on what was discussed. However, as he leaves, he says that he just wants you to invest the money in the way you think is appropriate for them as 'Alison does this all the time'. He adds, 'we know how the process works, so we don't really need to go through all the paperwork'.

(a) Explain how Alison's conduct would be assessed under the value of Diligence and Standard 5 of the Financial Planners and Advisers Code of Ethics 2019.