This Code of Professional Ethics serves as the guiding document for Members of the Academy of Financial Divorce Specialists (Academy). The Code applies to every Financial Divorce Specialist (FDS) designee and candidate in conducting divorce related financial planning activities.

The Code is not, and cannot be, exhaustive. Its statements are general in nature, to be interpreted and applied in particular situations.

The Code deals with the ethics rather than the laws governing financial planning. Although laws and ethics of financial planning necessarily overlap, the two domains remain distinct. The Code, while prepared with the awareness of the law, is addressed to ethical obligations.

The Academy recognizes that FDS professionals work in many different environments. Regardless of the industry segment in which they work, their employment relationships or their compensation arrangements elsewhere, all FDS professionals subscribe to the same Code of Ethics when acting as a Financial Divorce Specialist.

1. Members shall act in the best interests of their client.
1. Members shall act with integrity, competency and with due diligence.
2. Members will not disclose any confidential information without expressed consent.
3. Members will always keep the client’s concerns as being paramount.
4. Members will disclose any conflict of interest.
2. Members shall disclose to clients all sources of compensation related to services provided for that client.
1. Members will keep accurate records of hours of work undertaken on a client file and will provide an accurate accounting for each client.
2. Members charging retainer fees will ensure those fees are accounted for in an identical manner and return any unused monies.
3. Members will recognize their limitations and the competency of others and, when appropriate, will recommend that other and/or additional opinions and services are required.
1. Members accept responsibility to work with other professionals in completing their divorce related financial work.
2. Members will provide advice to clients only on matters within their competence.
3. Members will ensure clients know the limitations and scope of services they can provide for the client and when the assistance of another or other professional(s) will be required.
4. Members will neither represent that the Member is a lawyer, accountant or other professional nor leave the impression that the Member is such a professional, unless the Member is so qualified.
5. Members will give information, not advice.
4. Members shall make every effort to provide objective and impartial information to clients regarding their financial circumstances and advise clients of their various options, describing the positive and negative aspects of any outcomes of such options presented
1. Members will not invest their client’s money during the divorce proceeding in which the FDS is involved. The only exception would be to arrange for insurance coverage when needed.
2. Members will not consider future product sale commissions in showing a division of assets.
3. Members may belong to other professional organizations or be called upon by such groups, such as various collaborative divorce groups, that would require that they not serve an existing client as a Financial Divorce Specialist, but refer to another financial professional. Likewise, they would not have any future involvement with a client obtained by referral or any other means that they provide service in a collaborative process. This will ensure neutrality during the divorce proceedings and beyond. Those regulations must be upheld by the FDS.

1. Members shall continually seek to maintain and improve their knowledge, skills and competence in divorce related financial planning.
1. Members will maintain educational and ethical requirements for the FDS as well as any other credentials they currently hold.
2. Members will, upon request, provide full information regarding any credentials or affiliations with other organizations or academic qualifications or any other requested information to the Academy.
3. Members will not misrepresent any such credentials, affiliations or qualifications.
2. Members will provide professional services with integrity.
1. Members will avoid impugning the reputation of colleagues for personal motives; however, report to the appropriate authority any unprofessional conduct by colleagues.
2. Members will act in a professional manner that reflects positively upon all other FDS.
3. Members will immediately report to the Academy any credentials or license that has been revoked.
4. Members will professional manner with respect to colleagues in all business matters.
3. Members shall at all times comply with this Code of Ethics and with all relevant laws, regulations and standards of any governmental or other professional bodies with jurisdiction and advise the Academy of any transgressions.
1. Members have a duty to be aware of, to understand, and abide by this Code of Ethics and the Practice Standards as adopted by the Academy from time to time.
2. Members are subject to disciplinary action for the violation of any law or regulation, to the extent that such violation constitutes professional misconduct.
3. Members have a legal duty to meet the standard of care exercised by a competent FDS.
4. Members will act in accordance with the spirit and the letter of the law.
5. Members will recognize that self-regulation of this profession is a privilege and that each FDS has a continuing responsibility to merit this privilege.

Enforcement and interpretation of the Code of Ethics will be governed by the Practice Standards and administered by a Standing Committee on Ethics as established by the Academy. A Member, or former Member who, while a Member, violates or has violated the Code of Ethics or any other laws, regulations or standards, whether or not the act or omission occurred in the course of a client relationship, may be subject to one of the following:

• Permanent exclusion from the Academy of Financial Divorce Specialists
• Permanent loss of the right to use the FDS designation
• Temporary expulsion from the Academy of Financial Divorce Specialists, with re-application and re-qualification being required
• Temporary loss of the right to use the FDS designation
• A written reprimand from the Academy
• Publication of such violation
• Entering such violation on the Member’s personal records
• Such other measures as are deemed appropriate, from time to time, by the Standing Committee on Ethics

Investigation

Proceedings involving potential violations shall be commenced upon written request directed to the Academy by any person. Upon the start of the investigation, the Academy will gather all pertinent information, contact the FDS, and request a written response within 30 days. Upon the receipt of the aforementioned, the Standing Committee on Ethics will determine the appropriate form of discipline and inform the FDS of its decision.