Ethics and Financial Advice: The Final Frontier


I attach a report entitled “Ethics and Financial Advice: The Final Frontier” recently released by me to key stakeholders in the Financial Services Sector. The report outlines the results of (my) Empirical PhD research, one of the first studies of its kind in the world. I think the research provides unique insight into:

  • The most common ethical errors associated with the provision of financial advice;
  • The factors that influence financial advisers and compliance managers to make ethical or unethical choices;
  • The current ethical issues faced by financial advisory participants in their daily advisory practices and within the organisations for which they work; and
  • Current trends and patterns in ethical conduct and decision making within the financial advisory sector.

To assist you reading the report, it contains an executive summary and uses a series of text boxes to identify:

  • Signposts to Reform,
  • Current Roadblocks to Quality Financial Advisory Outcomes and suggestions on
  • How to Build Organisational Resilience to Ethical Risk Within Financial Advisory firms.

The report is designed to assist:

Financial Advisers
To understand the factors which influence their decision making To enhance their awareness of the ethical risks they face in the provision of financial advice
AFS Licensees
To identify and remove current roadblocks to ethical outcomes within their organisations To build organisational resilience to ethica risk and ensure quality financial advisory outcomes
All Stakeholders
To increase awareness of the current eithical issues associated with financial advice To understand the advantages of integrity based frameworks in achieving quality financial advice

I welcome your comments on the report or any of the issues raised and would like to generate debate about the role of ethics in financial planning advice on this site. Alternatively, you can email me to share your views privately if you wish.

Ethics Report AP207367

To coincide with the publication of this report, Argyle Lawyers Pty Ltd is pleased to announce that it now provides advisory and consultancy services in the areas of expertise covered by the report. I would be happy to meet with you in person to discuss these new services in more detail and how they may add value to your advisory practice. Please contact me on 03 8601 1121 to arrange a meeting.

I am also available brief the Board/ senior management/ legal or compliance teams of Financial Services Organisations on the salient features of the report and the key lessons and opportunities that arise from it.

Happy reading! Download the report here.

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