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Fasea code of ethics in meeting with jennifer

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Reference no: EM133000956

CASE STUDY

Jennifer's grandparents have already spoken to Paul about how Jennifer's gift should be managed and invested. Les and Marg have been Paul's clients for a long time and have done well financially and I'm assuming they know what they are talking about and will be able to provide Jennifer with the right guidance on investments too.

To save a bit of time, I've already emailed the FSG to Jennifer and I'll get her to acknowledge she has received it, when I see her.

The money will be given to Jennifer as cash. Given that Jennifer is in her early 20s, she has a long-term investment horizon and it sounds like high-growth investments will be an appropriate solution for her. We've got some really great model portfolios of direct shares on our approved product list, which are currently generating high returns for other clients that I can talk to her about. I am a bit concerned her grandparents may not be happy for her to put all the funds just in shares, so I may need to check with them about that.

This meeting should be straightforward as we will focus just on investing the $200,000 gift and I doubt whether Jennifer will need any insurance, given her young age. She will eventually inherit all of her grandparents' money anyway, and I'm sure they would look after her if anything was to happen to her in the meantime.

QUESTION

Analyse the above conduct and discuss whether it complies with Standard 1 and Standard 2 of the FASEA Code of Ethics in meeting with Jennifer.

Reference no: EM133000956

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