For Designees and Candidates

Code of Ethics and Standards of Practice

Every IBF designee makes a written commitment to these principles when they earn the designation. They define how IBF expects its designees to conduct themselves with clients, with peers, and with the profession.

The Code of Ethics sets the principles. The Standards of Practice spell out how those principles work in day-to-day professional conduct. Together they are the binding ethical framework for every IBF designation.

Part One

Code of Ethics

As a holder of an Institute of Business & Finance designation, I commit to the following principles.

Principle One
I will put my clients’ interests first.
When my interests and my clients’ interests diverge, theirs prevail. I will recommend what serves them, not what serves me.
Principle Two
I will be honest and transparent in all professional dealings.
I will not misrepresent my qualifications, my recommendations, or the risks and costs involved. When I don’t know something, I will say so.
Principle Three
I will practice only within the bounds of my competence.
I will recognize the limits of my knowledge and refer clients to qualified professionals when their needs exceed my expertise.
Principle Four
I will pursue continuous professional development.
I will stay current with the laws, products, and strategies that affect my clients, and I will never stop learning.
Principle Five
I will uphold the integrity of my profession.
My conduct will reflect credibly on the financial services profession and on the IBF designation I have earned. I will use IBF marks in compliance with established guidelines.
Part Two

Standards of Practice

These Standards operationalize the principles set forth in the Code of Ethics.

Note on terminology. These Standards carry the meanings established in professional practice. Terms like “best interest,” “fair dealing,” and “duty of loyalty” are understood as they are used in the financial services industry.
Section I

Professionalism

  • [1]
    Knowledge of the Law. Comply with all applicable laws and regulations; follow the stricter requirement when they conflict.
  • [2]
    Independence and Objectivity. Maintain independence; do not accept anything that could compromise objectivity.
  • [3]
    Misrepresentation. Do not knowingly misrepresent qualifications, analyses, or recommendations.
  • [4]
    Misconduct. Do not engage in dishonesty, deceit, or acts that reflect adversely on your competence.
  • [5]
    Competence and Referral. Recognize the boundaries of your expertise; refer clients when their needs exceed it.
  • [6]
    Continuous Professional Development. Stay current and fulfill all continuing education requirements.
  • [7]
    Responsibilities of Supervisors. Make reasonable efforts to detect and prevent violations by those you supervise.
Section II

Duties to Clients

  • [1]
    Loyalty, Prudence, and Care. Client interests take priority over your own and your employer’s.
  • [2]
    Fair Dealing. Deal fairly and objectively with all clients.
  • [3]
    Best Interest and Suitability. Inquire into circumstances before recommending; disclose or eliminate conflicts.
  • [4]
    Performance Presentation. Ensure performance information is fair, accurate, and complete.
  • [5]
    Confidentiality. Keep client information confidential unless disclosure is required by law or permitted by the client.
Section III

Analysis, Recommendations, and Action

  • [1]
    Diligence and Reasonable Basis. Have a reasonable basis, supported by research, for any recommendation or action.
  • [2]
    Communication. Clearly communicate the basis for recommendations; distinguish fact from opinion.
Section IV

Conflicts of Interest

Make full and fair disclosure of any matter that could impair independence or interfere with duties to clients. Disclosures must be prominent, in plain language, and made before the affected party is asked to decide.

Section V

Use of IBF Designation

  • [1]
    Professional Conduct. Do not engage in conduct that compromises the reputation of IBF or its designations.
  • [2]
    Accurate Representation. Do not misrepresent or exaggerate the meaning of holding an IBF designation.
  • [3]
    Marks and Usage. Use IBF designation marks in compliance with established rules and guidelines.
Version 2.0 · Effective May 1, 2026

The Code of Ethics and Standards of Practice are incorporated by reference into the IBF Enrollment Agreement signed by every candidate. Designees affirm their commitment to these standards at the completion of their designation program.

Questions about the Code or Standards? Contact support@icfs.com.