Our IFA Code of Best Practices sets out a list of principles that an IFA is expected to abide by in his or her business activities and in his or her liaison between clients and our company. This Code provides neither an exclusive nor exhaustive definition of the principles.
Disciplinary sanctions may be imposed against an IFA for any action that is found to violate the letter and spirit of this Code.
Priority over clients' best interest
An IFA shall act in a client’s best interests.
An IFA shall act in a manner that places the client’s interests above an IFA’s own interests.
An IFA shall be objective in serving a client’s interests.
An IFA shall identify relevant particulars of a client’s circumstance prior to recommending a suitable product or service.
An IFA shall only recommend products they fully understand.
An IFA shall ensure the client fully understands all relevant product benefits and risks in accordance with the client’s level of financial literacy and appetite for risk.
Integrity
An IFA shall act with integrity.
An IFA shall act with integrity as integrity is the foundation for public trust in the IFA.
An IFA shall act with honesty, trustworthiness and put the best interest of their clients first.
An IFA shall report any breach or possible breach of the our Code of Ethics.
Professionalism
An IFA shall act in a manner that reflects positively upon all other IFAs.
An IFA shall keep an active relationship with all his / her clients, schedule regular reviews of their accounts and be the first reference to his / her clients when having a request regarding their accounts.
An IFA’s conduct shall inspire confidence, respect and trust of clients and the community.
An IFA shall treat other IFAs and our staff fairly and respectfully.
An IFA shall formalize and document all referrals made and partnerships formed for the purpose of providing products and services.
An IFA acting in a leadership capacity shall not use or condone any method of recruiting or contracting financial advisors that detracts from our Code of Ethics.
An IFA shall not work with another IFA structure unless there’s an agreement between both parties.
If an IFA’s referral agreement is terminated, the IFA shall not apply for new Referral Agreement through a new IFA structure for a duration of 18 months from the date of termination.
Competence
An IFA shall act competently.
An IFA shall exhibit their competence through the effective application of both skill and knowledge when providing products and services.
An IFA shall maintain their competence through appropriate education, training and work experience, as demonstrated by a commitment to continuous learning.
An IFA shall always refer to his / her organization, a company representative or our Help Center for the latest updates on our products & services.
An IFA shall recognize the limits of his or her competence by seeking relevant consultation.
Diligence
An IFA shall act diligently.
An IFA shall show their diligence through the degree of attention or care exercised when advising clients and providing advice.
An IFA shall promptly follow up any communication and seek closure of open requests between clients and Dominion with regards to their accounts.
An IFA shall provide products and services promptly and efficiently, taking care to be accurate and thorough.
An IFA shall properly supervise any employee who is providing services to clients, where appropriate.
Disclosure
An IFA shall act transparently.
An IFA shall avoid any conflict of interest in providing products and services and where such conflicts of interest do occur an IFA shall provide full disclosure to our team.
An IFA shall disclose any relationship or non-confidential information, past or present, which may be seen to affect an IFA’s judgment in providing products and services.
An IFA shall disclose method(s) of compensation related to the products and services being provided.
Branding & representation
An IFA shall introduce himself to client’s as an Independent Financial Advisor.
An IFA should not present himself / herself as an employee, executive or direct staff member of our company. Including but not limited to business cards, websites, email signatures & social network profiles.
An IFA will comply with our Brand Representation Guidelines.
Confidentiality
An IFA shall respect and protect the privacy of others and the confidentiality of client information.
An IFA shall hold in strict confidence client information obtained in the conduct of an IFA’s activities, except where legally compelled to divulge such information.
An IFA shall collect, use and disclose client information only for the purposes for which it was obtained and only with a client’s consent.
An IFA shall not sell information to any third party.
An IFA shall make reasonable commercial effort to design and manage procedures and systems to protect confidential information from error, loss and unauthorized access.
An IFA shall comply with privacy legislation.
Respect for the law & regulations
An IFA shall act in accordance with the spirit and principles of the law & regulations.
An IFA shall comply with all relevant laws, regulations and standards of any governmental or other professional bodies with jurisdiction.
An IFA shall comply and cooperate with our staff in complying with our Anti Money-Laundering and Counter Terrorism Financing Manual (AMLCTF Manual).
An IFA shall remain knowledgeable of the laws and regulations that apply at any time to the products and services that he or she is authorized and competent to provide.