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Implementing Recommendations

The financial planning practitioner and the client shall mutually agree on the implementation responsibilities consistent with the scope of the engagement.

The client is responsible for accepting or rejecting recommendations and for retaining and/or delegating implementation responsibilities. Our financial professionals  and the clients shall mutually agree on the services, if any, to be provided by the practitioner. The scope of the engagement, as originally defined, may need to be modified.

The practitioner's responsibilities may include, but are not limited to the following:

  • Identifying activities necessary for implementation;

  • Determining division of activities between the practitioner and the client;

  • Referring to other professionals;

  • Coordinating with other professionals;

  • Sharing of information as authorized; and

  • Selecting and securing products and/or services.

If there are conflicts of interest, sources of compensation or material relationships with other professionals or advisers that have not been previously disclosed, such conflicts, sources or relationships shall be disclosed at this time.

When referring the client to other professionals or advisers, the financial planning practitioner shall indicate the basis on which the practitioner believes the other professional or adviser may be qualified.

If the practitioner is engaged by the client to provide only implementation activities, the scope of the engagement shall be mutually defined, orally or in writing, in accordance with Practice Standard 100-1. This scope may include such matters as the extent to which the practitioner will rely on information, analysis or recommendations provided by others.

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