My great discovery this month was a recent movie on Netflix: Fishermans Friends.
The based on true story is full of music and small town life.
Now I am inspired to watch fun, inspiring and uplifting movies. Find yours and share it!
May just change your day or your life a bit during the pandemic.
After struggling through the pandemic for a year, who would disagree that health is more important than wealth? And who would not feel compelled to say that those two are intricately related? However, no matter how much money you have or how much time, there are simple steps to improve your health that are free. Caring about your health is a first step in improving it.
So where to start focusing on building a healthy life? First, consider your whole person when it comes to health – not just your physical health. There are apps to help you learn to mediate, spiritual readings and groups, and mental health resources we all have access to for free. Sitting for five minutes a day in meditation or gratitude is one way to support your whole being. I certainly agree that it is not easy to pick up this habit, simple as it sounds. The first time I sat to just to meditate, I lasted two minutes. The inner quiet and solitude was difficult to experience for the first time.
Second, consider a habit you do today that could change for the better just by switching something out. They can range from using one teaspoon of sugar instead of two in your coffee, switching to a seltzer after one alcoholic drink or drinking water instead of soda. Each of those save you calories and are better for your long-term health. Being in the sunshine, going for a walk or talking to a friend are also healthy tasks. So, starting something new need not be overwhelming or expensive.
Too often we think we need to jump on board the health wagon and change everything at once. Typically, people stick to behavior changes by doing one thing at a time. Small steps matter. I know you have heard that before as I write on that about finances as well.
If you begin to think about changing a health step as a way to contribute to your overall wealth, it may be easier to accept change. Building toward our wealth and health starts with caring and moves into taking a step – literally and figuratively – today. Just one choice can make a big difference. Once you feel better about yourself, future steps are easier to build on.
Be Wealthy with your Health – Build some today!
Like a will, a trust needs to be updated when a life situation changes. A recent problem came across my desk. Tom, a client, was left a trust after his parents died. They had drawn up the trust in the 1950’s, when he was a child. The trust stipulated that the trustees could decide if the child, who is a beneficiary, could take out more than the income it was creating each year. This was to preserve the trust and protect a young person from having too much money on his own.
The parents died twenty years ago and the money had remained in this trust. He was grateful to have the added annual income the trust provided and never asked the trustees for more. He thought that is the way it had to be always. He came to me as he was getting ready to retire and wanted to create a plan. He also wanted to help his children buy houses and pay off his home. He is still tied to the trustees’ decision-making process. This provision is silly for a grown man or woman who has managed their own money all their life.
So think about a simple life change: update your legal documents. Whether your children have grown up, the needs for a trust have changed, you have remarried, or the laws have changed, these critical documents need to be reviewed every five years if not sooner. Be sure and spend the time, energy and money to update the documents as appropriate.
And for those adult children out there: talk to your loved ones. Your parents may have had good intentions when you were a child. Now, you may want to remind them to update their own estate planning documents - after you update your own. This will be for their peace of mind and your ability to use the intended money for what you see fit.
With coaching from me, Tom wrote a letter to the trustees making a request for the money to pay off his mortgage. With the mortgage paid off and a better understanding of the trustee role, he requested the balance of $35,000 to be paid to him so he could help his children with housing. He was a happy retiree and grateful he sought out advice. The end of the trust meant all the money intended for him was in his hands and he trusted himself with money more than a large institution that did not know him.
Food is good. Basic healthy food. Nothing fancy. Nothing expensive.
With all the trends and foodies around, we can get lost in expensive ingredients and complicated recipes.
The goodness is in the way you cook and how you prepare your food. My grandmother was a fabulous cook. With Nanie, the main ingredient was always her loving care. And the slow simmering of what was a poor cut or end of meat transformed into a melt in your mouth delicacy by dinner time. And leftovers were her specialty. Only at her home did I relish having leftovers as she turned her hand to create a special meal when turning it over in her magic fry pan.
Time and thoughtfulness can transform food. Think about the using the basic ingredients and creating something that tastes good because you took time and focus to shop, chop and show love. That flavor makes a huge difference.
Apply this to money. Because slowly acquiring, saving and investing is really the secret to success when it comes to money taking care of us. Slow money is the equal to savory slow cooking.
Try this approach sometime when your goals seem out of reach. Start saving change. Stop spending a dollar a day. Or pick up the generic product. See over time what that does to your pocketbook. And then your savings.
You certainly can take the approach on both financial savings and an extra special meal: Buy the lower quality cut of meat but let it simmer all day.
Enjoy!
Small business owners think they need to work more and harder to make their business successful. Knowing their craft, understanding the management of a business and handling money effectively are valuable tools in operating a successful business. So too is taking time off.
Sounds counterintuitive: Take time off to make a business operate more efficiently. The time off makes the business owner operate more efficiently. With time away from the business, you rest and think differently – whether about planning a trip or planning dinner.
The mind is refreshed. The heart is clear, and the body is rested. These are all critical to operating a small business smoothly and successfully.
If you operate your own business, try some time away. Something simple. Start with one day or a weekend escape. The point is not to be attentive to your business consciously. This is your respite.
When your mind goes to your business focus it on something else…go back to the hike, the national monument or fabulous museum. Our minds are amazing and when we gather info from somewhere else our creativity and abilities are enhanced.
Recently, two different people come into my office. Even when they have similar questions and assets, their answers may be different because finances are personalized. Money decisions must match our understanding and emotions, as well as solid financial principles. There is never only one standard answer.
One just got a job offer. Marie is delighted that the new company wants her. She has felt underappreciated in her current company despite having been there for years. The company has been having many financial problems as of late and she has survived many layoffs.
She has the education to figure out the financial details. She cannot make this decision alone. Her anxiety about leaving and making change even for a better salary is preventing her from thinking clearly. She knows it so asks for help.
The second person just got an inheritance. One hundred thousand dollars is the most that he has seen in his life. Yet, as soon as the topic of money comes up – his stress level rises, and his voice is almost shouting: “How do I know what to do?”
So far, he has been talking about the extreme approach: put nothing in the stock market and buy insurance. He needs a financial education to understand the implication of each possible decision.
What is the common denominator in these stories? Fear. Fear of doing the wrong thing. Fear of making a mistake and regretting it. What appears as indecision is a lack of confidence and information because they think there is only one right answer.
Taking the time to talk through decisions financially and emotionally, along with laying out multiple options is helpful to everyone. When the fear diminishes, the financial decision making can begin.
Financial Therapy cannot solve all the problems of the financial world, but it does make for happier and informed clients. With more understanding of themselves, they make better decisions and are prepared to consider all the options. They understand their past behavior with money and how to address their fears.
This process takes a little bit longer and the questions have to be different. Yet, for those willing to look at all sides of money behavior, they become more contented savers, investors, and spenders. The goal of financial therapy is to
In casual conversation, someone told me that they were great with their investments because they had someone they trust at a big firm taking care of all that. I said terrific, how is it invested? The look they gave me was the look most people do, confusion, misunderstanding and discomfort. If I already knew what big company it was at, doesn’t that mean I know where and how it is invested?
If someone I loved was in Mercy Hospital, that would tell you one thing. But if you wanted to know more because you were close to your loved one, you would ask who the doctor is and what they were doing to them and what the diagnosis was. Yet, an established financial firm seems to be the cover for many financial questions.
There is so much more. You want to keep your money close to you and understand where it is invested or saved. You are the only one responsible, no matter who is managing the money for you. You have given them the power to manage it, but still your job is to be sure they are doing what you want. You want to communicate your needs and goals. Then, be sure they educate you and communicate with on how they are working towards your wants: where the money is invested, how risky it is and how much they are charging you to make all this happen.
Then, you will truly know and can state that your investments are doing well. The details demonstrate the truth of your money, the investment company name does not speak to your individual situation.
Your money is not you. However your money represents you. How you treat yourselves, how you take care of yourself.
Money in itself is not a value for most people. It is however a tool about how we take care of our lives. Watch any good craftsman from carpenter to visual artist. Their tools of their trade are cleaned and put away for their next use. A carpenter knows with the right tools at the ready they can construct anything. What they conceive they can build. The tools are not their life or livelihood, but they are an access point to creating what they want. Likewise, for you a strong money system is caring for yourself so money can take a back seat but build the life you envision.
Your money leaves clues. Clues are everywhere. Here are a few to get you started looking for yours, but this is only a limited list:
Your wallet and the material and contents say a lot about you. No, it does not mean go buy an expensive designer wallet. Rather, look deeper. Beyond Capital One’s catchy commercial with “what’s in your wallet?” is the inside information you need to understand more about your money habits.
A shabby leather one or a lovely vegan leather overstuffed with credit cards, or no wallet, just a phone with an id on the slot in the back. These all say a lot about who you are and how you treat your money.
What does your checking account say about you? Always running on empty? Or is it stuffed to the gills with money you do not know what to do with? Are you balancing it- reconciling what the bank has and you have? Or checking it on the fly, trusting whatever the bank says at the moment? This second approach is oblivious to the scheduled transactions coming or the withdraws not yet hit the account.
Or you may have everything on auto pay so you are not thinking about your checking account at all? But do you ever really know how much you have?
What about your savings account? How does that work? Do you have one? Do you contribute regularly withdraw often? Or rarely? That reveals a bit about you. Don’t have a savings account? That is a statement revealing your money habits too.
Where are your retirement funds? Don’t have any? Don’t know how your 401k or IRA is invested? Then, you may be ill prepared for what lies ahead. Your future matters.
Your money matters to your life. How you treat it today has implications throughout your life.
Without a doubt, health and family count. We have all learned that this year with the pandemic. Your money is essential to maintain your critical parts of living.
Too many people say they will wait until they make more money or win the lottery to learn more or organize their money. Like sharpening their saw, this money is a tool and a key element to improving your situation. The spiritual truth is key here: Take care of what you have to get more. Start with your current money and build to a financial resources – get organized, get a system, understand what you have and where it is.
Start simple by cleaning your wallet today.
In these times of uncertainty….
The remarkable thing is we have a choice everyday regarding the attitude we will embrace for that day. We cannot change our past... we cannot change the fact that people will act in a certain way. We cannot change the inevitable. The only thing we can do is play on the one string we have, and that is our attitude. –
Charles Swindoll
Signs Your Thinking & Acting Complacent:
My vote does not count.
The stock market always goes up.
Nothing I can do helps improve the world.
Those are the comments of the complacent. So now we hear so much about voting. Get out to vote – And your vote matters. You have heard all about voting by now. But have you been complacent in other areas?
Think specifically about your engagement in your finances. Taking care of your money and knowing what you have is a key ingredient to financial success. On the investment side, believing they always increase is an uninformed statement. By nature, the stock market goes up and down. Position your investments for the long-run, rather than following the latest trends is an important strategy. You may not have control over the market, but you do over your finances.
Every day we have opportunities to make a difference in someone’s life. You do not have to do anything major to improve someone’s life, nor does it have to cost money. This may be with a phone call, a smile or a kind word. These things can make a difference for a moment or a day. Never underestimate your power.
Engagement in our world matters. Complacency is the problem. Whether it is your vote, your finances or your community. You can make a difference. Improve your world intentionally today.
This morning I noticed the leaves are tinged with just the lightest of color. Fall is coming. Change is around us. As so much is happening in the world from wildfires to shutdowns to health issues, I find it most important to take a moment and see how change has affected us.
The past seven months have been overwhelming to say the least. Weathering such shifts is when the true change happens. And for each of us, this happens internally as much as externally. Our values, our choices, and our priorities change. What once seemed important in our life is no longer a necessity.
We can claim this as the “silver lining” in a pandemic but that is too simple. I think noticing change and recognizing it in us is a way of maturing and growing. The recent months just put miracle grow on what would have happened eventually. All this change is exhausting. Like the trees, we need to shed some of the old and have time to regroup. May we also be like the trees, holding on to our solid base of values as we move through the coming months. Taking care of ourselves is how we will each weather the whatever is ahead: financially, emotionally, and physically. Embrace the beauty of change.
So many weddings have been postponed, cancelled or changed. But LOVE is not postponed.
What is to happen to the joy of celebration? Will our ideas about getting married change as a result of this pandemic? That is yet to be seen. However, there is a lot less money being spent on this event. The wedding business may suffer as so many are.
Time will tell. Just remember, love and commitment have not gone out of style.
What you do with your money, your money does to you.
Money is a manifestation of your dreams, your energy and yourself. People who have money are not “better off.” That is an expression that we humans developed to attach to our envy stages. People with more money are not necessarily happier or healthier or clearer with their life purpose. They just have more money.
The important things to address are how you view money. The language you use will give you clues on these views.
To help you contemplate deeper on Money and Happiness and Your Attitude, spend five minutes with this video. Then, reflect, write in a journal or talk to a friend about what Money Energy is doing in your world and your mind.
https://www.bbc.com/reel/video/p07vts5j/the-surprising-psychology-behind-being-rich
My Dad was right. I lived with him so had no preconceived notions that he was the man stepping out of the television show. Dad was a smart man. He often said it was because he went to “The College of Hard Knocks.” Yet, he left me with many pieces of wisdom that’s needed to persevere through this crisis and beyond. Here are some that feel specifically relevant right now.
Have money in the bank. Maintain money in savings, always. That is what you can use to protect yourself through thick and thin. Be a saver. He even had a poem to go with it about a tobacco box.
When buying real estate, buy for the long-term not today. A two bedroom condo is better than a studio he often said. “Be sure you have the extra room to rent in case of hardship.” Today I would add that if you are stuck at home, you have an extra room to be in. He also said own a bit of land. Today this land could be grass or a porch or small deck three floors up. We need fresh air and the light that outdoor space provides.
My parents must have had a mortgage in my lifetime, but I never in my conscious state of finances from age 8 on, remember them saying they had to pay the bank the mortgage. Or equity loan. Or car loan. I know by the time I was a teenager he was preaching no debt except a mortgage. And then pay that mortgage as fast as you can.
Dad made the tough ones. He never took a vacation, bought a car or a new suit that he did not have money. And by money, I mean cash. This included decisions as when he bought our lake house in New Hampshire. He paid cash. This was all he did in cash and how or why he was able is beyond my understanding. He did all this with kids to put through college, dance lessons, sports, braces (me) and glasses (me again!) All decisions for us and our futures. The toys, new clothes and fancy sneakers were not part of our upbringing. Good food, simple pleasures and working hard for any extras were just our family leader’s way of being.
Dad got people jobs, paid to bury people, and feed people who needed it. Yet, never talked about it. He did what he could and never complained. I could not believe some of the things I heard at his wake about the people he had helped, even beyond the ones I saw. He did not stop as he got older. He did not do it just for family.
Dad never gave me a sermon nor would he tell us children how to behave. Instead, he would quote others. These poems from his childhood were often repeated to the point we had them memorized ourselves! The message resonated. So perhaps rote learning does work if it is something of value to carry forward. Memorize a favorite poem together with your family.
He also lived with one room school house education but proved education did not end there. I believe because he was not always being taught, but had some independent learning with a teacher stretched to educate different ages, he learned to learn on his own. He appreciated reading. He read fast. We certainly can learn one thing a day today from the comfort of home.
My Dad may not have been the perfect Father from a television show. However, he had basic principles he passed on to his family. These financial and life learnings are some of the things that will and are getting us through this crisis. May you carry on prepared for each day as we weather this crisis one day at a time.
Learn One New Thing A Day
Memorize a Poem
Make Long term Choices
Help Others
Build a New Financial Habit
My Mom ran a “tight ship” when managing her family. Some of her lessons are ringing so true today as we are staying at home to stay healthy. I wish she were here to thank. Instead, I offer them to you as a pay it forward to many others, Thanks to Mom.
Here are my Mom’s strategies for a good life:
I can picture the line and body bumping as we ran to the bathroom before dinner or a snack. They would look clean to us, despite the dark line of dirt under our finger nails. However, we were hungry and would follow directions by scrubbing with a nail brush as well as the Ivory soap.
Did everyone have to wash their face before they ate? I think this was to make us look presentable whenever and wherever we ate. Good advice today as the easiest way to get sick is when the disease hits our face and airways. Now I understand, my Mom wanted us healthy as well as presentable.
I am not a fan of this one, but we were required to do it every day. When I lived in a dorm room I always made my bed as it was our only living space. As soon as I got my first apartment, I loved not having to make my bed! Felt like a protest against my Mom’s rules. Then, I came around partially because I lived in a studio and partly because of practical reasons. As long as my bed was made, I seldom wanted to crawl back in it after my shower instead of heading to work at 6 am. I merged the attitude and make your bed with buying a duvet. The perfect solution. Not military approved but surely works for me as a good compromise.
As kids she would send us outside. Yes, those were different days you may say. But I think without knowing the current research, she knew some Vitamin D and outdoor exercise was good for our health (and probably her mental health as well.)
Okay, nothing we can do with this one during the COVID-19 outbreak. Do not share swimming water with anyone! Skip Mom’s this bit of her advice today, but look forward to implementing this one in the summer.
Before a big high school exam she would tell me sleep is better than an extra hour of studying. My Mom had no scientific data to quote; Though, I did notice years later a study confirmed her sleep approach. Even in college I followed her advice. I headed to bed at a decent hour on the eve of exams. If I was really feeling short on the information, I would get up an hour early and with a refreshed brain, study up a bit. The approach seemed to work. I made it through college and grad school, too.
My Mom was always thinking of others, not just us, but the neighborhood and friends. She thought nothing of picking up the phone to check on an elderly neighbor or to touch base with an old friend. She knew reaching out was a kindness to others whether they lived alone or not. Maintaining connections takes effort.
Music changes everything. My Mom loved to dance but really would do anything to music. As she cooked and cleaned, she listened to her favorite music. Music makes life a bit easier.
Everyone will have their good days and bad days through this pandemic. However, let’s keep moving to take care of ourselves, each other and the future.
Send Them Some Music
Have a Video Chat
Share this piece on My Mom’s Wisdom
You will make their day by staying in touch.
Stay safe, Stay well, Stay Home.
I have found myself thinking of both my grandmothers during this strange time of times. Nanie is the grandmother I knew and loved and spent time with the most. Her influence was more of a third parent than an elder once removed. I also have thought of Nan, the paternal grandmother I never met. I knew her through the stories my Dad and his siblings told me of her life in Ireland with a few years in Boston as a young woman.
Nan feels especially close during this health crisis. My Auntie Mae, her daughter, told me how Nan had survived the Spanish flu of 1918. She was a young mother of 5 who got so sick a nurse had to be called in for daily care. The nurse died from the flu. Nan survived or I would not be here writing this blog.
Nanie is on my mind because so many of her lessons are meant for today. She lived through the depression with her own young family. Still, she managed to hold on to their home and husband while feeding her family of five and a few more immigrants. How did she do it? I cannot tell you for sure as that was long before my time. However, I do know the invaluable life lessons she taught me. I share them as a way through this pandemic for all of us:
Sleeping - Nanie always said an hour of sleep before midnight is better than all the hours after it. This may have been a farmers’ tale, however I learned it best myself. I never had to get up and milk the cows. In this time of crisis, sleep is crucial. For health – physical as well as mental. And a great way to relieve stress.
Cooking – My Nanie could make anything taste good. She was an amazing yet simple cook. Leftovers were fabulous when they came out of her electric fry pan, off the stove or out of the oven. The first time around her meals were large enough to feed an army. She also made the best Irish bread and treats. What was truly remarkable is that I never saw her consult a cookbook or watch a cooking show. She was a natural. Nothing fancy but love enclosed with practice and talent.
Cleaning – I loved helping my grandmother clean her home – a direct contrast to cleaning with my Mom. Nanie and I would dust, sweep, vacuum and wash. Then, she would say, “We have done good enough. Let’s have some tea and a treat.” This is true today. Clean. Disinfect. And do the best you can. Then, rest. Perfection is hard to come by. Do a good job. Consistency and cleaning will keep us safe. Stressing lowers our immune systems.
Sharing With Others - Nanie always shared what she had. This included her home with close relatives and friends who needed a place to stay. She sent money home to Ireland so others could immigrate to the United States, like herself. And she fed so many people. She never had much herself, but always welcomed others. (See #2)
Daily Dressing - My Nanie was a widow who rarely had anywhere to go but was always dressed each and every day. Unless someone was coming to pick her up for church, or a doctor’s appointment or grocery shopping, she could be found at home. She looked forward to social gatherings and going out but spent a lot of time alone. So in these times we can learn something from Nanie. Get up. Get dressed, wash your face and start your day. No matter what you are doing or not doing getting ready is energy clearing. Washing the sleep out of your eyes, brushing your hair and your teeth are a sense of clarity and readiness. Having a routine is important. Start your day with one.
Remember the generations ahead of us paved the way. They may have not lived through anything like this, but they have pearls of wisdom that may just help make your today better. Practice some of Nanie’s approach to living or find a few favorites from your ancestors.
Today I am clear on what I learned and have relearned about myself through this crisis. I share them today so that you may reconsider what you may be learning through this crisis.
1. Accomplishing Something – even bake a loaf of Irish bread- keeps me grounded and appreciative during this time and any stressful life experience. The secret is to complete some project or activity.
2. Exercising helps my mind body and spirit. Not to mention contributes to a better night sleep.
3. Going Outside – no matter the weather – relaxes and refreshes my mind and soul. This does not have to be for long as breathing small amounts of fresh air are helpful. Combined with # 2 enhances both.
4. Working can be a tool for avoiding feelings. Use appropriately and do not overuse. Because the flip side is that work can provide structure and a routine when needed most. A sense of competency and control when the world is unknown.
5. Reading is a form of escape for me. The lighter, more interesting the book or piece the better. Engaging something outside of the current world is a refresh button for the body and soul.
6. Staying Connected to family and friends and your spiritual practice. Reach out. Meditate. Make a video phone call with one friend or family member or the whole group. Make it a routine.
7. Listening to Music is a the food for the soul. Play music as much as you can when home. Set it to the your mood or favorites or learn some new music. Throw in a dance move and you have combined with #2 and had some fun to boot.
For those unable to go outside, or practicing medicine (Thank you!) too exhausted to work, please breathe deep and find one thing that is helping you cope today.
March is the month in New England that brings a shift of weather. The winds are strong, the sun is higher, the snow is melting and the sap is running for maple syrup. Along with the winds of change, there is the hope of spring amidst the muddy roads. We New Englanders are used to the changing seasons. They arrive four times a year and despite the daily variety, they fall in semi regularity.
As investors, we are not used to the volatility of the stock market. I may smile and notice today started out 30 degrees warmer than yesterday or 30 degrees colder, acknowledging that is all part of New England weather. However, when investors see the market down a thousand points and up a few hundred, only to go down again, there is a sense of lack of control. The uncomfortable feeling of not knowing what to do. What we are used to is a change in the market. The change where it goes up. No one wants to see it go down. But the fact is the stock market by nature is volatile. We do not have any control over the stock market then we do the weather.
Living with market volatility is not for everyone. That is why adopting an investment strategy and sticking to it whatever the market session is doing is the way of the long term. An investment strategy means you have enough cash to weather a year of your life, you have a source of stable investments and are in the stock market that suits your personality and age.
Here are the questions I have been asked over the past week:
What should I do?
What do you think of the market?
What is going to happen next?
There is no one right answer. You need to develop a strategy that works for you.
We never know in New England when a big storm is going to hit, though meteorology is getting better at predicting it. However, we can have a plan for a stash of food, fire wood for the stove and even a backup generator if we wanted. This is being prepared.
Be Prepared in the stock market means you have a strategy to sustain you no matter what happens during its unpredictability.
So if the volatility of the past few weeks is sending you into panic and a round of questioning, stress may be making you feel the need to do something in a venue you cannot control. Perhaps if you are overwhelmed with its loss, you need to ponder if the stock market is for you. Maybe it is not and the reliability of cash and consistency of bonds’ returns will better suit your personality and time of life. And if you do not want to give up on the market but are feeling unsteady, maybe a switch to less of your money in the stock market would better suit you. Then, whatever the year and decade ahead holds, you would weather with lower stress levels. After all, New Englanders are known to fly south for most of the winter and some for most of the year. The conditions are less harsh and more predictable. No one judges them for wanting a simpler life. You too can make a simpler life while staying put.
Instead of watching the news, opening your statements and wondering what is going to happen next in the economy or investment world. Think about what suits you. Are you are risk taker? Do you handle financial stress well? Then, take one small action that will fit you and your money best. Drastic measures never saved anyone.
Certified Financial Planners must abide by the fiduciary standard. Not all financial advisors do. What is it? What does it mean?
One who acts in utmost good faith, in a manner he or she reasonably believes to be in the best interest of the client. A CFP® professional must at all times act as a fiduciary when providing Financial Advice to a Client, and therefore, act in the best interest of the Client. In this regard a CFP® professional must:
Place the interests of the Client above the interests of the CFP® professional and the CFP® Professional’s Firm;
Seek to avoid Conflicts of Interest, or fully disclose Material Conflicts of Interest to the Client, obtain the Client’s informed consent, and properly manage the conflict;
Act without regard to the financial or other interests of the CFP® professional, the CFP® Professional’s Firm, or any individual or entity other than the Client, which means that a CFP® professional acting under a Conflict of Interest continues to have a duty to act in the best interest of the Client and place the Client’s interest above the CFP® professional’s.
A CFP® professional must act with the care, skill, prudence, and diligence that a prudent professional would exercise in light of the Client’s goals, risk tolerance, objectives, and financial and personal circumstances.
A CFP® professional must comply with all objectives, policies, restrictions, and other terms of the Engagement and all reasonable and lawful directions of the Client