Ethics and governance for financial advisors: a time for reflection
Views & Download
Ethics and ethical judgments are often referred to in day-to-day conversations but rarely unmistakably understood in terms of how they support our position when making decisions or choices that usually involve conflicting interests, benefits and the rights or well-being of others. Professionals have to consider their clients and leaders have to deal with the direction of the organization and the often conflicting claims of shareholders and stakeholders. We as citizens have to be guided by the law so that our self interests do not go against that of others and cause hardship or harm in the process. Ethics are relevant in social or interpersonal interactions. We can't escape having to deal with doing the right thing in the societal, business and social roles that we play. And we have to deal with these issues in the proper way given that we are not the only ones to judge the rightness or wrongness of our actions. What is perceived by us as good may be evaluated negatively by others perhaps due to the different criteria used to determine the worth of the action. To do the right thing requires that we know the basis of what is right and acceptable or praiseworthy, and what is wrong and therefore not acceptable. In other words, we have to be aware that our decisions or actions meet the standards or norms of right conduct or good behaviour. Just being a good and well intentioned person is therefore no guarantee that the action is ethical. Well intentioned incompetence is as bad as dishonesty.
Business management , Ethics , Governance
Aljunid, S. A. H. (2011). Ethics and governance for financial advisors: a time for reflection. Financial 1st, (September 2011).
Malaysian Financial Planning Council