Certified Financial Planner (CFP) Exam 2025 – 400 Free Practice Questions to Pass the Exam

The duty of fairness is not explicitly outlined within the CFP Board Standards of Conduct as a distinct obligation owed to clients. Instead, the Standards focus on responsibilities such as independence, professionalism, and competence.

Independence refers to the advisor's ability to provide unbiased advice without conflicts of interest, ensuring that the advice given is in the best interest of the client. Professionalism emphasizes the manner in which advisors conduct their business, maintaining integrity and ethical behavior in all dealings. Competence highlights the need for advisors to maintain and enhance their knowledge and skills to provide sound financial advice.

While fairness is an essential concept in fiduciary obligations, it is more integrated into the general ethos of professionalism rather than being a standalone duty specified by the CFP Board. The core focus of the Standards revolves around proactive duties that ensure client interests are prioritized, hence the other elements are more clearly outlined as required duties in the context of client relationships.