Preamble

Divorce professionals serve individuals and families navigating one of life’s most challenging transitions. To uphold the integrity of our profession and protect those we serve, we adhere to the highest ethical standards. This Code of Ethics establishes principles to ensure confidentiality, professionalism, and the responsible provision of services.

The Code of Ethics and Professional Responsibility is provided as an expression of the ethical standards that the Institute for Divorce Financial Analysts® has adopted and every Certified Divorce Financial Analyst (CDFA®) has agreed to abide by. The code applies to every CDFA designee and candidate in conducting divorce-planning work.

Principles of Ethical Conduct

Ethics Rule 1. Integrity

  1. Maintain the highest standard of honesty and integrity when dealing with colleagues, the IDFA, clients, or attorneys.

  2. Avoid practices that would dishonor the profession, IDFA, or any of its members and employees

Ethics Rule 2. Confidentiality

  1. CDFA professionals must maintain strict confidentiality regarding all client communications, records, and information, except where disclosure is required by law.

  2. Reasonable measures must be taken to ensure data security and prevent unauthorized access to client information.

  3. A CDFA professional shall hold client information to the highest standard of confidentiality. Short of client consent, IDFA disciplinary procedures or appropriate legal process, a CDFA professional shall not release any information about their client before, during, or after the divorce.

Ethics Rule 3. Avoidance of Legal Advice

  1. CDFA professionals shall not provide legal advice under any circumstances. Clients seeking legal guidance must be directed to a qualified attorney.

  2. Any legal information shared must be general in nature and not specific to an individual case. 

  3. CDFA Professionals must avoid any actions that could be construed as the unauthorized practice of law and proper disclosures should be included in emails and marketing materials.

  4. A CDFA professional understands that, in order to practice law, one must be licensed. Under no circumstances will a CDFA professional represent that the CDFA certification is a license to practice law.

Ethics Rule 4. Competence 

  1. CDFA professionals must maintain a high level of competency in their respective fields through continuing education and professional development.

  2. Services should only be provided within the CDFA professional’s scope of expertise.

  3. CDFA professionals must recognize the limits of their expertise and refer clients to appropriate specialists when necessary.

  4. Every CDFA should serve their clients competently, acquiring the knowledge and skill necessary to do so in the area of divorce financial analysis.

Ethics Rule 5. Objectivity

  1. CDFA professionals must remain neutral and unbiased when assisting clients when hired as a neutral.

  2. Conflicts of interest must be disclosed immediately, and appropriate steps must be taken to mitigate them.

  3. CDFA professionals should not engage in any behavior that could create the appearance of favoritism or partiality when serving as a neutral or mediator.

  4. CDFA professionals should not accept even nominal gifts when acting as a neutral.

  5. CDFA professionals must make divorce financial analysis recommendations independent of the potential financial planning or investment management relationship to avoid conflicts of interest.

Ethics Rule 6. Professionalism

  1. CDFA professionals must conduct themselves with honesty, integrity, and professionalism in all interactions.

  2. False, misleading, or exaggerated claims about services or qualifications must not be made.

  3. Professional boundaries must be respected at all times to maintain the integrity of the profession.

  4. Whether dealing with clients, attorneys, IDFA, or any of its partners or subsidiaries, a CDFA professional will behave in a professional manner, especially given that divorces can be emotionally charged and sometimes combative situations.

Ethics Rule 7. Compliance

  1. CDFA professionals must comply with all applicable laws, regulations, and professional standards governing their practice.

  2. Ethical violations and misconduct should be reported to the appropriate regulatory bodies or professional organizations.

  3. CDFA professionals should engage in ethical marketing and advertising practices that align with industry standards.

  4. A CDFA professional will comply with any requests from the IDFA for information regarding complaints and adhere to IDFA’s disciplinary actions when necessary.

Enforcement and Accountability

Failure to adhere to this Code of Ethics may result in disciplinary action, including censure,  suspension or revocation of membership, as determined by the Institute for Divorce Financial Analysts. Ethical concerns and violations should be addressed through established review and enforcement procedures.

Best Practices

When Existing Clients Divorce

  • CDFA professionals must treat both clients equally and objectively.

  • One method, which is not required but may be considered, is to refer both clients to a CDFA professional outside their practice to ensure impartiality.

  • If continuing with both clients, ensure all correspondence and work are shared equally and maintain a neutral stance. Ask clients to sign a document agreeing that all correspondence and information will be shared equally.

General Best Practices

  • Clearly outline the scope of engagement, including start and end dates, and avoid investment services until after the conclusion of the divorce engagement.

  • Obtain consent from both parties if entering an engagement with either party after the divorce.

  • If practicing in a Collaborative Group: be aware of Collaborative Divorce practice standards, which may limit post-divorce engagements.

  • Avoid discussing investment or insurance services during the divorce process unless legally required.