Ethics represent the principles or spirit of professional behaviour. Standards give us a way to measure that behaviour so that everyone’s interests are protected.

Barron’s compliance and business standards are outlined as part of our Corporate Responsibility. The FPSC  has defined specific ("Practice Standards")  Financial Planning Practice Standards , the first of which is “Establish the Engagement by Defining the Terms of the Engagement”.

Barrons believes that prior to conducting business with a client that all parties define and agree on the scope of the Financial Planning Engagement. Details about each party’s responsibilities, the time frames of the engagement, compensation, and conflicts of interest should be set out in writing in a formal Engagement Letter or in a Letter of Understanding, signed by both parties.

Said another way, Barrons and it’s client need to establish a common understanding that supports the business relationship being considered, and put it on paper. The Letter of Engagement acts as a contractual agreement between Barrons, it’s advisors and the clients we serve.