BT Financial Group has announced its advisers will go through an ethical professional program as part of the group's aim to “formalise ethical awareness”.
In a statement today, BTFG general manager of advice Mark Spiers said the group is partnering with The Ethics Centre to put its advisers through the Ethical Professional Program, with 500 advisers and leaders set to complete the course by 30 June.
“This is a strong step towards formalising where the industry is going ahead of the new professional standards due in 2019. Not only will the program support our advisers, but importantly it will help to lift consumer trust in the value of advice and their confidence in financial advice as a noble profession,” Mr Spiers said.
“As an industry, we have to get ethics and behaviour right so we can shape and lift the culture across the advice industry.”
The Ethical Professional Program is 19 hours of learning spread over four to six weeks aiming to help financial advisers, brokers, bankers and those who work alongside them. Participants can access continuing professional development points through the program with the FPA, AFA and the SMSFA.
The statement said research shows there is a positive correlation between ethics and customer satisfaction.
“The Ethical Professional Program is an immersive and transformative education program for financial advisers. It has been incredibly well received by its participants who are now applying what they learn in their professional lives whether it’s being courageous with a manager or changing how they conduct a client meeting,” said executive general manager at The Ethics Centre Ed St John.
Since early 2016, all new financial advisers at BT have undertaken the Ethical Professional Program.
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