The following information is provided to assist the public in understanding the IAQFP Ethics Committee’s investigation and complaint procedures that provide for a thorough review and a decision as to whether there has been a violation of IAQFP Code of Ethics & Professional Conduct, or other requirements of Membership or QFP usage, and if discipline of a QFP is warranted.
A charge against the conduct, actions or recommendations of a QFP is a matter that we take very seriously; therefore, if you feel that a QFP has violated or otherwise not complied with our high standards, you should not hesitate to begin a grievance procedure.
When authorized to use the QFP – Qualified Financial Planner designation, each QFP agrees to at all time abide by the IAQFP Code of Ethics & Professional Conduct, ongoing continuing education requirements, and all other terms and conditions of Membership, our Statement of Purpose and all other goals of IAQFP as applicable. Their having done so qualifies them, and only them, for a verification listing in the QFP Verification Registry of Qualified Financial Planners.
IAQFP Ethics Committee determines whether allegations are justified and whether the unethical conduct warrants disciplinary action, and as such there is no cost to you. Because one of the functions of IAQFP is the evaluation of grievances, please be assured that your grievance will be investigated vigorously and impartially.
A grievance filed against a QFP is carefully considered, since it could negatively affect a QFP’s career, reputation and ability to earn a living; therefore, it takes more than a claim of misconduct to justify disciplinary action. Proof of misconduct must be established by a preponderance of the evidence. A grievance should relate to unethical conduct, a violation of IAQFP Code of Ethics & Professional Conduct, which can be proven by evidence. An honest disagreement about how a matter should or should not have been handled would not normally constitute unethical conduct. An error in judgment is not necessarily unethical conduct. QFP’s, as any other professionals, may not always give the perfect response to a given set of circumstances. For instance, disagreements about fees do not generally constitute unethical conduct. An unexpected decline in security values or the length of time it may take to respond to a client with a completed plan do not generally constitute unethical conduct.
Have a Complaint?
Grievances concerning QFP can be submitted to IAQFP via U.S. mail or online.
Complaint Contents: Your written grievance should include important information surrounding the circumstances of your complaint, including photocopies of relevant letters, contracts, agreements or other documents. IAQFP Ethics Chair or Committee may request additional information if needed and may request a personal interview if it appears necessary. The public should be aware of normal remedies under state and federal laws and regulations with applicable regulatory bodies and also avail themselves of other avenues. The burden should be on the complainant to pursue such remedies. The findings and actions of appropriate regulatory bodies will be given due consideration by the IAQFP Ethics Chair and/or Committee.