Match the descriptions below of the duties owed by CFP certificants to either their clients, their firms, or the CFP Board.

Group of answer choices

A CFP professional must promptly advise the CFP Professional's$$firm$,$ in writing, of any public discipline imposed by CFP Board.

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A CFP firm has a policy that states that employees are not permitted to be designated beneficiaries for the firm's clients. The owner of the firm discovers that his employee, who is not a CFP$,$ was found to be a beneficiary on several client accounts. The firm owner could be subject to discipline from the CFP Board if he$$ignores the situation and allows the employee to remain a beneficiary on client accounts.

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Jim likes to attend happy hour with friends or clients on occasion. In his college days he did this often. He also drove after happy hour on regular occasions and received a DUI. Jim was really good about not drinking and driving until recently. He went to happy hour with some clients and then drove them home. On is way home he was pulled over and received a second DUI. Now he must report this alcohol$-$related charge to the CFP Board, in writing,$$within $30$ calendar days.

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Failing to cooperate with the CFP Board or its disciplinary process will result in severe penalties or discipline. Cooperation with the process is paramount.

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Michael is a CFP professional and is faced with a potential conflict of interest during his work for a client.$$He is not sure if the Code of Standards are invoked with$$actual or potential conflicts of interest and needs to know what action to take for this potential conflict.

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A CFP Professional must provide professional services with competence, which means relevant knowledge and skill to apply that knowledge.

Duties Owed to Clients