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Approaches for implementation, challenges and opportunities in ethics education
| Approach of implementation | Examples | Challenges or opportunities |
|---|---|---|
| Piggy backing |
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| Digging Deep |
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| Mainstreaming |
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| Focusing |
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| Stand alone |
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Results of perceived ‘institutional obstacles to implementation’ of ethics education
| Obstacles | Supporting scholars |
|---|---|
| Lack of time in program schedules | Maxwell et al. (2016); Gandz and Hayes (1998); Golub (1993), cited in Moeller, (2005); Ketz (2006); Strong, Connelly and Forrow (1992); Diekema and Shugerman (1997) |
| Faculty members unavailable | Maxwell et al. (2016) |
| Financial resources unavailable to hire qualified instructors | Maxwell et al. (2016) |
| No established curriculum to follow | Maxwell et al. (2016); Mintz (1990), cited in Baetz and Sharp, (2004) |
| No financial resources available to develop new courses or curriculum | Maxwell et al. (2016) |
| Resistance from faculty | Maxwell et al. (2016); Strong, Connelly and Forrow (1992); Diekema and Shugerman (1997) |
| Resistance from administration | Maxwell et al. (2016) |
| Resistance from third-party trustee institutions (e.g. professional association) | Maxwell et al. (2016) |
| Resistance from students | Maxwell et al. (2016); Baden (2013), cited in Painter-Morland, (2016); Sims and Felton (2006) |
| Faculty members not qualified or confident in teaching ethics | Baetz and Sharp (2004); Gandz and Hayes (1998); Langenderfer and Rockness (1989); Park (1998); Ketz (2006); Strong, Connelly and Forrow (1992); Diekema and Shugerman (1997) |
| Lack of educational material available to educators | Baetz and Sharp (2004); Ketz (2006) |
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. |