Problem:
The purpose of the CFP code of ethics is to ensure that all participants conduct business transactions with honesty and professionalism. By integrating a code of ethics, the organization is laying the framework for what constitutes acceptable behavior. Once the code has identified what is acceptable business practices, CFP will have a better opportunity to manage professional conduct. The code was developed to monitor organizational activities and to ensure the rules applied are not being violated. Although organizations incorporate codes of conduct as a term and condition of employment, there are still instances where individuals fail to live up to the standards of professionalism. Some organizations are scrutinized by media as a result of not maintaining ethical conduct which results in negative consequences. For example, an employee from University Medical Center in Nevada, was exposed for selling patient information to attorneys, the attorneys would use that information to obtain new clients. The employee was later fired and arrested, sentencing is pending. An organization can only establish a set of ground rules however each individual is accountable for his or her own actions. One deceitful employee will discredit an organizations reputation.