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A Cardinal Rule of Financial Planning: Confidentiality

Make sure you abide by this cardinal rule.

September 12, 2016

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A Cardinal Rule of Financial Planning: Confidentiality

In the 1950s the financial services industry adopted the concept of a Client Bill of Rights.  A key tenet of this “Bill of Rights” is client confidentiality.  Prospects as well as clients have the belief and the right that details of their financial lives, from the most general to the most confidential, will be guarded.  It is a trust that should never be betrayed.

Access to client files should be secured and under lock and key.  Conversations with others should never betray confidential information.  When clients or prospects come to your office, the private information of others should never be in sight, not even a closed client folder with only someone’s name showing.  There is nothing casual about client confidentiality.