2020 Ethics Intensive
Issues covered include: Ethics of a financial advisor, building trust with your client, ethical culture, ethical leadership, uncousious bias in decision making, what is meant by best interest?, informed consent, FASEA Code of Ethics, accountant unprofessional conduct, professional misconduct in the context of billing, IESBA Code of Ethics, Disciplinary action against financial planners, disciplinary action against accountants, recent complaints, common complaints against financial planners, common compliant
Description
Meet your compulsory Professionalism and Ethics CPD points in one go with these on demand recordings! Engage in thought provoking discussion, consider real ethical scenarios and learn practical outcomes that will assist you with the skills you need to run your practice, stay compliant PLUS get your 9 hours of ethics.
This event offers an estimated 9 CPD hours in Professionalism and Ethics and meets the qualifying CPD requirements of FASEA, FPA, CAANZ, CPA, IPA and TIA.
Please note to count towards the minimum 28 hours of licensee approved CPD hours, your licensee is required to approve this event.
Session 1
Thursday 14 May 2020
The Ethics of Being a Professional
Chairperson: Professor Deen Sanders OAM, Partner and Ethics, Integrity and Professionalism Leader, Deloitte
10.00am to 10.05am: Opening Comments by the Chairperson
10.05am to 10.50am: Trust Me, I'm Your Advisor: Examining the Ethics of Being a Professional
- Examine why many clients are sceptical of trusting you as financial advisor
- Explore how you can address this, both individually and collectively
- Learn how developing trust and acting ethically in the service of each of your clients contributes to public trust and confidence in your profession
- An insight into research on the psychology of trust to assist you to behave ethically
- Questions to ask clients to build trust
Presented by Lance Meikle, Founder and Managing Director, Generational; Mentor - Queensland Government, Small Business 'Mentoring for Growth' program; ATO Small Business Consultation Panel representative
10.50am to 11.50pm: Developing an Ethical Culture: Leading from the Top
- Translating values into leadership and creating ethical practice standards
- Considering the impact of a firm’s culture on ethics of an individual employee
- How organisational structure and standards can support ethical decision making
- Building ethical infrastructure in your firm: Policy, values and behaviour
Presented by Professor Keitha Dunstan, Deputy Vice Chancellor (Academic), Bond University
11.50am to 12.50pm: Unconscious Bias in Ethical Decision Making
- How to hack your brain: understanding and managing cognitive bias
- The ethical costs of biases and blind spots to your role as a financial advisor
- Ethical biases and smokescreens: thinking habits that interrupt good decision-making and how to have better decision making pathways
- Reflective practice: what it is and why it’s a basic competence for financial services professionals
Presented by Dr Matt Beard, Fellow, The Ethics Centre
12.50pm to 1.20pm: Break
1.20pm to 2.00pm: Acting in the Best Interest of the Client and Acting in the Public Interest: Being an Ethical Professional
- What is the best interest? How do you know that you have acted in the client’s best interest?
- Who determines what is in the client’s best interest? The advisor or the client?
- Psychology and ethics on both sides of the desk
- To what extent does the ethical duty to act in the client’s best interest apply?
- Framing ethical issues in financial services
Presented by Professor Deen Sanders OAM, Partner and Ethics, Integrity and Professionalism Leader, Deloitte
2.00pm to 3.00pm: No Means No, But Yes Doesn't Always Mean Yes: Understanding Informed Consent
- What does informed consent mean in the context of financial services? How is it different from disclosure?
- Understanding informed consent in the context of the FASEA Code of Ethics
- Informed consent and client-professional relationships: lessons from other industries
- The importance of personalised advice for meaningful consent
Presented by Dr Matt Beard, Fellow, The Ethics Centre
3.00pm: Day 1 Conference Close
Session 2
Friday 15 May 2020
Ethics in Your Real World
Chair: Andrew Faber, Private Wealth Adviser, Elston; Committee Member, Gold Coast Chapter, Financial Planning Association
10.00am to 10.05am: Opening Remarks by the Chairperson
10.05am to 10.00am: Ethical and Unethical Billing: Watch Your Step
- Unprofessional conduct and professional misconduct in the context of billing
- Framework and principles behind ethical billing
- IESBA Code of Ethics: standards for professional billing
- Alternative billing methods and ethical pitfalls and problems of each
- Disciplinary action against financial planners and accountants
Presented by Lance Meikle, Founder and Managing Director, Generational; Mentor - Queensland Government, Small Business 'Mentoring for Growth' program; ATO Small Business Consultation Panel representative
11.00am to 12.00pm: Complaints and Disciplinary Action: Reducing the Risk
- Steps to take to act ethically and reduce the risk of complaints against you
- Dealing with complaints as an ethical professional
- Reducing the prospect of serious disciplinary action
Presented by Nat Daley, Financial Adviser and Managing Partner, Hard Line Wealth
12.00pm to 12.45pm: How do you Deal with Conflicts, Oversight or Inadvertent Mistakes?
- The client “pushback” and our ethical obligation and duty to “comeback”
- What is a conflict of interest, common types of conflicts of interests and all the industry stances on these
- Preventative measures and tips to act ethically when faced with a conflict
- Recent case law examples of challenges to your ethical obligations
Presented by Robyn Arnold, Private Client Adviser, xseedwealth; Committee Member, Gold Coast Chapter, Financial Planning Association
12.45pm to 1.15pm: Break
1.15pm to 2.00pm: Objectivity and Integrity: Your Questions Answered
- How do you deal with challenges to your integrity?
- What should you do when your objectivity is threatened by pressures from clients, employers or other stakeholders?
- How should you respond when faced with ethical situations such as receiving gifts, inducements, consent?
Facilitator:
Andrew Faber, Private Wealth Adviser, Elston; Committee Member, Gold Coast Chapter, Financial Planning Association
Panellists include:
Matthew Farley, Principal Consultant, Fiduciam Compliance
Robyn Arnold, Private Client Adviser, xseedwealth; Committee Member, Gold Coast Chapter, Financial Planning Association
Nat Daley, Financial Adviser and Managing Partner, Hard Line Wealth
2.00pm to 3.00pm: Maintaining Your Independence in a Conflicted Environment
- Conflicted remuneration structures
- Threats to your independence and ethical challenges they pose
- Prioritisation of your client over your self interest
Presented by Matthew Farley, Principal Consultant, Fiduciam Compliance
3.00pm: Conference Close