Our ethics policy is built on five pillars - Transparency, Client First Decisions, Competence, Confidentiality and Professional Behavior. Underpinning these five pillars is Integrity, which we define as being consistent in our application of the above principles, and holding not only ourselves but everyone in our company to the same high standards.
Our ethics policy will be reviewed at least once annually.
Our definition: We will be transparent in all our dealings with our clients.
Examples:
Threats
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Safeguards |
Employees not disclosing errors that have affected clients, in fear of retribution from management. | The culture of the company should be to accept human errors as long as they are disclosed early and rectified as per policy, and the error has not been due to blatant disregard of policies and law. |
Management enticed to keep policies and business practices private due to embedded conflicts of interest, high fees and commissions. | Policies and business practices that put the client first. |
Our definition: All decisions we make will put the client first.
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Human nature will lead to justifying non Client First decisions. | Our policy of transparency of our business practices and processes will help mitigate that risk. |
Remuneration policies that reward revenue over clients first. | Policies and business practices that put the client first. |
Our definition: Before providing a service, we must have the competence, knowledge, and skills to provide that service.
Examples:
Threats
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Safeguards |
Trying to grow too fast will lead to us starting service lines which we do not have competence for. | Create a growth plan with required competencies listed. |
Hiring staff based on cost, rather than competence. | Hiring processes will require certain minimum levels of competency for every position. |
Our definition: We will keep all Client information 100% confidential.
Examples:
Threats
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Safeguards |
Perception of clients as impersonal entities, rather than real people. | Enable a culture of respect for clients, seeing them as real people. One way of doing this would be to have events that bring together clients and the business. |
Ambiguity about what info can be shared for business purposes. | Privacy policy. |
Our definition: The client is the reason the business exists; we will keep that in mind during all our interactions with clients.
Examples:
Threats
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Safeguards |
Overworked employees. | Automation of client interaction tasks that do not need custom client interaction. |
Uncaring employees. | Form culture of respect for clients. |
Our definition: Integrity is being consistent in our application of the above principles, and holding not only ourselves but everyone in our company to the same high standards.
Examples:
Threats
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Safeguards |
Lack of information about ethics. | Ethics is one of the first things explained to new hires. |
Ethics is not seen as important. | Regular ethics training for all employees. |
Not knowing what to do if we come across an ethics violation by another person. | Whistle-blower policy. |
Ethics policy not being implemented. | Annual review of Ethics policy and its implementation. |
Suite 4, Shed 24
Princes Wharf
Auckland 1010