Ethical Temptation

Situation in which there is a conflict between a person's interests and those of a client.

Ethical Dilemma

Situation in which there are good reasons for acting in a certain way and good reasons for not acting that way.

Confidentiality

Nondisclosure of private or secret information, such as a conversation between a financial planner and his or her client.

Prima Facie Duties

Clear and unquesionable respibilities

Compensation

Direct or indirect, monetary or nonmonetary payment for services completed or products delivered based on the value of the service or product.

Conflicts of Interest

Situations  in which the interests of two parties are in disagreement.  Examples: a conflict between the interests of a financial planner and his or her client, oor between two of a planner's clients (such as a husband and wife)

Competence

The ability to do a certain thing.

Compliance

Acting in conformity to the letter of the law, with or without concern for the spirit of the law.

Communication

A process of information exchange.

Cooperation

A process of associating with another or others for mutual benefit.