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© 2005-2019 Stewards of Capital & Co.®   All Rights Reserved.  Florida Mortgage Lender-Servicer License # MLD1201  NMLSR #: 383954

 

Equal Housing Lender. Stewards of Capital & Co., LLC. 8603 South Dixie Highway, Suite 218, Pinecrest FL 33156, NMLS #383954 is licensed by the Department of Corporations regulated under the Florida Office of Financial Regulation, Florida Department of Financial Services and governed by the Consumer Financial Protection Bureau.  Stewards of Capital & Co., LLC is a proud members of the Certified Financial Planning Board of Standards, (CFP®), Certified Mortgage Planning Specialist Institute (CMPS®), International Association of Registered Financial Consultants (IARFC®), Mortgage Bankers Association  (MBA), National Association of Insurance and Financial Advisors (NAIFA), and the Better Business Bureau (BBB)

Defining the Scope of the Engagement

Prior to providing any financial planning service, the financial planning practitioner and the client shall mutually define the scope of the engagement. The process of "mutually-defining" is essential in determining what activities may be necessary to proceed with the engagement.

This process is accomplished in the scope of engagements by:

 

  • Identifying the service(s) to be provided;

  • Disclosing the practitioner's material conflict(s) of interest;

  • Disclosing the practitioner's compensation arrangement(s);

  • Determining the client's and the practitioner's responsibilities;

  • Establishing the duration of the engagement; and

  • Providing any additional information necessary to define or limit the scope.

 

The scope of the engagement may include one or more subject areas. It is acceptable to mutually define engagements in which the scope is limited to specific activities. Mutually defining the scope of the engagement serves to establish realistic expectations for both the client and the practitioner.  This Practice Standard does not require the scope of the engagement to be in writing. However, as noted in the "Relationship" section, which follows, there may be certain disclosures that are required to be in writing. As the relationship proceeds, the scope may change by mutual agreement.