As an affluent client engaging a Certified Financial PlannerTM (CFP®) professional, you have the right to receive a comprehensive, documented, and actionable financial plan that fully aligns with the standards set forth by the CFP Board. The following outlines your rights and expectations throughout the financial planning process:
1. The Right to Clear Financial Objectives
You have the right to a financial plan that clearly documents your financial objectives across all relevant planning domains, including:
- Financial Planning / Cash Flow Management
- Investment Planning
- Tax Planning
- Risk Management and Insurance
- Estate Planning
Each objective should be:
- Clearly named
- Assigned a target date (goal date)
- Assigned a target amount (goal amount)
2. The Right to Holistic, Multidisciplinary Planning
You have the right to receive advice that integrates all aspects of your financial life. Your planner should coordinate recommendations across tax, estate, investments, insurance, and retirement planning to ensure alignment and avoid conflicts.
3. The Right to Specific Strategies
For every documented objective, you have the right to a corresponding strategy designed to achieve that objective. These strategies should be:
- Clearly explained
- Tailored to your personal and financial situation
- Supported by analysis and professional reasoning
4. The Right to Detailed Implementation Action Items
You have the right to a list of specific, actionable steps required to implement each strategy. Each action item should include:
- The exact task or recommendation
- Who is responsible (you, your advisor, or another professional)
- Timing or due dates
- Necessary details for execution (accounts, amounts, providers, etc.)
5. The Right to a 12-Month Execution Roadmap
You have the right to a plan that includes not only what needs to happen immediately, but also what needs to happen within the next 12 months to stay on track. Planning should be forward-looking and anticipate future tactical requirements.
6. The Right to Clarity and Transparency
You have the right to understand your plan. Your advisor should be able to explain:
- What each recommendation is and why it was made
- How each action supports your broader objectives
- What success looks like in each planning domain
7. The Right to Ongoing Monitoring and Adjustments
You have the right to expect regular reviews, updates, and course corrections as your life, goals, or circumstances change. A good plan is dynamic and should evolve with you.
8. The Right to Fiduciary Care
You have the right to a relationship grounded in trust, competence, and ethical duty. Your advisor must:
- Act in your best interest at all times
- Avoid or disclose conflicts of interest
- Provide advice with care, skill, and diligence
If any of these rights are not being upheld, you are entitled to ask questions, request clarification, or seek a second opinion. You are not only purchasing advice—you are purchasing strategic clarity, coordination, and peace of mind.