David, an Adviser, receives a letter from another Adviser saying that a client of David’s will now be seeing her for advice. The new Adviser asks if she can obtain a copy of the client’s files. David does not respond to this letter. The new Adviser phoned and left several messages with David’s receptionist, which David hasn’t returned. David is breaching the Code of Ethics because he is

Question

BlackTom AI · Accepted Answer

The scenario centers on professional courtesy and cooperation between advisers when a client is transitioning to another professional for advice. 
Option a: 'failing to support a fellow professional or extending professional courtesy.' This correctly captures the breach, since David did not respond to the letter and did not return phone messages, hindering the other adviser’s ability to obtain client information appropriately and coordinate care. The ethics rule here emphasizes collegial support and timely communication with fellow professionals. 
Option b: 'failing to demonstrate relevant knowledge and skills.' The facts do not relate to David’s knowledge or competency; there is no assertion about his clinical or advisory abilities. Therefore this is not a fitting explanation for the breach described. 
Option c: 'demonstrating a conflict in his interests or duties.' There is no stated conflict between David’s interests or duties; the issue is about communication and cooperation, not competing loyalties or conflicts. Hence this option does not match the scenario. 
Option d: 'avoiding his record-keeping obligations.' The case mentions letters and phone messages, but it does not indicate a failure to maintain records or compliance with record-keeping requirements. The core issue is the lack of responsiveness to a request from another adviser, not a records obligation. 
Option e: 'None of the above.' Since option a provides a plausible and supported explanation, this option is not correct. 
In summary, the most appropriate explanation for the breach is option a, as it directly reflects failing to support a fellow professional and to extend professional courtesy by not engaging with the request and the incoming adviser. The other options describe different ethical concerns that are not evidenced by the given facts.

FINS2643-Wealth Management - T2 2025

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