In our Our Voluntary Code of Conduct for the Stewardship of Your Wealth under the heading Investment Management:
We are governed by the CFA (Chartered Financial Analyst) Institute’s Code of Ethics and Standards of Professional Conduct
A Chartered Financial Analyst / CFA is the "most respected and recognized investment management designation in the world".
The CFA Program "provides a strong foundation of advanced investment analysis and real-world portfolio management skills".
Obtaining the designation requires a rigorous, approximately 900 hours of study and three, separate, six hour exams.
More importantly, a practicing CFA charter holder is required to abide by the Code and Standards or face disciplinary sanctions:
"The CFA Institute Code of Ethics and Standards of Professional Conduct are fundamental to the values of the CFA Institute and essential to achieving its mission to lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. High ethical standards are critical to maintaining the public's trust in financial markets and in the investment profession".
So not only do we (at High Rock) have our own code of conduct, but we are held accountable legally (discretionary portfolio management vs. non-discretionary financial / investment advice) and bound by the CFA Institutes's Code and standards.
We certainly do not take this lightly.
It is why we don't just stick ourselves and our clients into a basket of ETF's that represents a single solution for everyone: a "one size fits all" type of investment portfolio. That's the easy way, when you have so many clients that you can't manage to give them enough individual attention.
That would not be putting the client first. That would be putting the "business operation" first. That, in our opinion, is not ethical.
There is an alternative to banks, investment dealers (brokers or financial advisors) and robo-advisors and at High Rock we are challenging the "old-school" way of thinking and leading the way forward with low cost, transparent, ethical, and fiduciarily responsible, client-friendly, planning and investment strategy.
Scott Tomenson,CIM Managing Partner, Chief Investment Strategist