Figure 1:
Factors that contribute to producing an ethical financial planner.
Table 1:
Learning outcomes from FPEC requirements of an accredited financial planning degree that involve ethics.
| Learning outcomes | |
|---|---|
| 1 | Describe the Australian legal framework within which financial planners operate and their legal, social and ethical responsibilities. |
| 2 | Undertake research, construct and present a limited scope Statement of Advice (SOA) to meet client requirements in an ethical and professional manner. |
| 3 | Identify and understand ethical considerations and professional conduct requirements in the giving of financial planning advice |
| 4 | Use sound judgment when engaging in ethical practice and display professional standards reflecting responsible and sustainable practices. |
| 5 | Act with integrity and ethical practice in communicating risk management strategies through the provision of comprehensive and appropriate advice to clients. |
| 6 | Apply the 6-step financial planning process in accordance with Financial Planning Standards Board (FPSB) standards and ethical practices. |
| 7 | Develop strategies and provide recommendations to advise clients on investment planning, reflecting socially responsible and ethical practice. |
1 Source: FPA (2012)
Table 2:
Approaches for implementation, challenges and opportunities in ethics education
| Approach of implementation | Examples | Challenges or opportunities |
|---|---|---|
| Piggy backing |
|
|
| Digging Deep |
|
|
| Mainstreaming |
|
|
| Focusing |
|
|
| Stand alone |
|
|
1 Source: Adapted from Painter-Morland et al., 2016 (as adapted by Godemann et al., 2011; based on Ruskino, 2010).
Table 3:
Results of perceived ‘institutional obstacles to implementation’ of ethics education
1 Source: constructed from the work of Maxwell et al. (2016)
Figure 2:
Bloom’s Taxonomy
Source: Armstrong, P. (n.d.), ‘Bloom’s Taxonomy’, Vanderbilt University Center for Teaching, accessed 11 January 2017 from https://cft.vanderbilt.edu/guides-sub-pages/blooms-taxonomy/
Figure 3:
Comparison of the presence of ethics in FPA accredited bachelor degrees (2016/17)
Note: based on publicly available information
Figure 4:
Comparison of the presence of ethics in FPA accredited postgraduate degrees (2016/17)
Note: based on publicly available information
Figure 5:
Number of units within FPA approved bachelor degrees with ethics by stage.
Note: Four units that were undefined were omitted from this graph. Postgraduate data excluded as data was unavailable.
Figure 6:
Bloom’s Taxonomy analysis for FPA approved degrees