Ethical Decision-Making Framework

Ethical Decision-Making Framework 

An ethical decision-making framework provides a structured approach for financial mentors to make choices that are professional, responsible, and aligned with ethical standards. It helps mentors navigate complex situations where values, client needs, and professional responsibilities may conflict.

Here’s a model that you can work through when facing an ethical dilemma.

1. Identify the ethical issue

Recognise the ethical dilemma or problem, including potential conflicts of interest, confidentiality concerns, or risks to the client.

What values, principles, or obligations are in conflict? 

2. Gather relevant information

Collect all facts about the client’s situation, legal requirements, organisational policies, and cultural considerations.

What facts, legal requirements, and professional standards apply? 

3. Consider stakeholder perspectives

Explore possible courses of action and their potential impacts on the client, mentor, and wider community.

How might different parties be affected by various courses of action? 

4. Apply ethical principles

Assess options using professional values such as honesty, integrity, client-centred practice, confidentiality, and cultural responsiveness.

Which principles from this code are most relevant? 

5. Consult with others

Seek input from supervisors, colleagues, or professional bodies. 

6. Choose a course of action

Select the option that best upholds ethical principles and client wellbeing. 

7. Implement and monitor

Take action and monitor outcomes, adjusting as necessary .

8. Reflect and learn

Consider what was learned and how future similar situations might be handled .

An ethical decision-making framework guides financial mentors to act responsibly, prioritise client wellbeing, and maintain professional integrity in complex or challenging situations.