Financial Advisor Marketing Code of Ethics

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November 28, 2021

Here is the financial advisor marketing ethics that will govern all actions I take as a consultant. This code of ethics may serve as an example to others in the wealth management industry who are looking to market their firms ethically.

Are you ready?

But first…

For those of you who are new to my blog/podcast, my name is Sara. I am a CFA® charterholder and I used to be a financial advisor. I have a weekly newsletter in which I talk about financial advisor lead generation topics which is best described as “fun and irreverent.” So please subscribe!

Why ethics matter for financial advisor marketing professionals

Ethics matter to financial advisor marketing because of the high degree of trust that is involved with the practice of wealth management. This is a highly personal business and you are only as strong as your morals.

As a marketing consultant helping financial advisors get new clients, I am responsible for how they present themselves. This goes beyond what the financial advisor’s compliance team mandates. Many times there are nuances and subtleties that the financial advisor is too busy or preoccupied to concern themselves with. That is why all marketing professionals who serve financial advisors must adhere to a strong moral and ethical code that dictates the actions they take on behalf of the advisor, and all the representations that they assist them with creating.

Here’s the code of financial advisor marketing ethics that I follow

Any marketing program recommendations I render will be made with the best interests of my clients put first. Only my clients’ interests will be taken into account.
I will deliver all marketing advice with independence, objectivity, and prudence, and my opinions will be formed from a process of thorough diligence.
I will make a fair and accurate representation of any concept that my clients ask me to article on their behalf for the gain of my client or myself, to the best of my ability and effort.
I will make full effort to communicate all concepts clearly, in plain language, and accurately, to the best of my knowledge and ability. When there is something I do not understand, I will seek clarification.
I will honor all applicable regulations that my clients must follow. To help me do so, I ask that you provide me with a written copy of all guidelines you are held to.
Information you provide to me will be held in confidence and not used for any other purpose than the work we do together.
Any tools you purchase to use and provide me with access to will only be used to carry out the work I do for you.
I will honor and respect diversity, inclusion, and essential human civil rights in all aspects of my work, from the imagery we use to how we select vendors and relate to those we collaborate with.
I will respect data privacy for all parties involved, whether they be my clients or the audience we are trying to reach.
Referrals to any third party vendor shall be made only with the interests of serving my clients. I will not accept financial rewards for sending your business to any particular third party.
If a situation were to arise in which I were unqualified to deliver the work required, I will indicate this to you.
I will value all forms of diversity and honor human civil rights in all my interactions with others.

I will encourage my clients and the financial service industry as a whole to communicate concepts in a balanced fashion that does not seek to promote any one product or service without full disclosures of the risks, downside potential, and potential drawbacks of pursuing such a strategy.

Code of Conduct and Safety Policy

To ensure an inclusive environment, discrimination or harassment in any form is prohibited in any and all activities held by my firm, including but not limited to:

Sexual harassment
Racism
Sexism
Ageism
Homophobia
Transphobia
Ableism
Physical aggression or harm

If you experience any of the aforementioned instances of misconduct, or any others not included on this list, please report it to me, Sara Grillo, in person and via email at sara@saragrillo.com.

The Code of Conduct applies to all participants in any company-related activity. Choosing to engage with my company evidences your cooperation and agreement with the policy.

Let’s talk about sexual harassment

Sorry for mentioning this, but I really want to get this out in the open.

Sexual harassment is a big problem in our industry.

Sexual harassment spans the broad range of an inappropriate look, touch, comment, or written messages. There is a “no tolerance policy” when it comes to sexual harassment at all activities in the Transparent Advisor Movement. Everyone attending, men and women alike, is expected to abstain from sexual harassment.

Often times, sexual harassment is unintentional and resulting from miscommunication. The way we avoid sexual harassment is through clarity and communication about boundaries.

I don’t want anyone to feel like you can’t be yourself. I want everyone to feel comfortable, relaxed, and safe. Everyone – every man, and every woman.

So to do that, here are some boundaries I suggest we consider:

Exercise caution when given the opportunity to hang out in private, one on one, with anyone of the opposite sex. For example, going to someone else’s hotel room for a prolonged amount of time. Instead, I would suggest meeting in the hotel lounge or another public area.
Stay sober. You can have fun socially without drinking alcohol or consuming any type of mood-altering substance. I encourage you to abstain from this, as it may lead you to let down your boundaries/impose on other people’s boundaries without full consciousness you are doing so.
Be conservative and think twice when commenting on anyone’s appearance. This includes their dress, age, attractiveness, etc. What may be intended as a compliment may be misinterpreted between two people who don’t know each other well.
Exercise caution and try to avoid touching anyone else other than a handshake. When people don’t know each other well, touch can be misconstrued.
Try to be aware of body language clues other people may be giving you. If somebody seems to want more space, give it to them.
We should all, men and women alike, be aware of the signals we are giving with how we dress. Clothing choice affects how people perceive us and what our intentions are.
In general, if you aren’t sure if something could be misconstrued, hold back. Better safe than sorry. Remember, you can think about committing this action at a later point, once the signals are clear that it’s okay with the other person. If it’s not completely clear that the person is okay with something, abstain.

These are just a few to get you started thinking.

Let’s be clear about boundaries, and honor them, as they can help us avoid awkward social situations. They aren’t constructed to kill the good vibe or ruin the fun; on the contrary, boundaries help us make sure we all are safe, and that everyone can be free to be themselves without having to worry.

Sara’s upshot

What’d ya think of my financial advisor marketing ethics code? Was this helpful?

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