A Practice Standard establishes the level of professional practice that is expected of members engaged in divorce financial planning.
The Practice Standards apply to members in performing the tasks of divorce financial planning regardless of the person’s title, job position, type of employment or method of compensation.
Compliance with the Practice Standards is mandatory for members whose services include divorce financial planning or material elements of divorce financial planning, but all financial planning professionals are encouraged to use the Practice Standardswhen performing financial planning tasks or activities addressed by a Practice Standard.
The Practice Standards are designed to provide members with a framework for the professional practice of divorce financial planning.
Similar to the Rules of Conduct, the Practice Standards are not designed to be a basis for legal liability to any third party.