Later, you realize that you never asked to keep your personal history confidential, you simply assumed that your conversation was private. Now you are worried. Who else is going to see these details? Everyone is familiar with the lawyer/client privilege that protects the privacy of communications between lawyers and their clients. What about financial advisors? The PSC`s Board of Directors briefly mentioned the confidentiality of client information in the past in its standards of professional conduct, and then recently strengthened its Code of Ethics to include much more detailed confidentiality requirements – it now prohibits the disclosure of non-public personal information about potential clients, current or former, except in a list of specific situations. But how does the PSC Board treat advisors who break these rules? The advisor can suspend or have revoked the CFP designation, but he can always stay in business. For this reason, Mattox says it is important to receive in writing its own trust policy from the consultant. Take away: Confidentiality should be a conversation you have with a counselor at the beginning of your relationship. It`s important to ask yourself under what circumstances they may share personal information internally or outside the company, what permission they would need, and what will happen to them if they break these rules. .