Financial Planet, run by the global Financial Planning Standards Board, questioned Financial Planners worldwide on their view on ethics, a key part of the Financial Planning model.
Dan Candura CFP, a Financial Planner in the United States, delivers training programmes on ethics for CFP professionals. He said: "When I lead two or three courses for CFP professionals, I believe they gain more than just crossing off the requirement on their To-Do list.
"Instead I hope they have a greater understanding of the complexities of interpreting ethical questions. I hope they are better prepared to serve their clients and navigate a technicolor world where few situations are black and white."
He argued that in the same way we teach children right from wrong, we can teach adults to make decisions that benefit other and understand different opinions.
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Simon Hassan CFP, a Financial Planner in New Zealand, said ethics were defined as referring to the moral principles of a particular group or individual. This was not the same as teaching morality.
He said: "Teaching morality is not always easy and what's right and wrong can depend on particular philosophies, religion and cultures of those doing the teaching.
"Teaching ethics is much easier. The rules are pretty clear. But the benefits for those who comply are also pretty clear, not just in terms of personal satisfaction and enhanced self-esteem but also ultimately in the expectations of professionals for higher incomes and enhanced business value."
He said the acceptance of a standard Ethical Code for Financial Planners would help the profession and its clients.

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