Is this misrepresentation?

[S2000magician]

Hank Moody wrote:We all know the rules.

S2000magician wrote:

Hank Moody wroteAnd, as long as we’re talking ethics, you shouldn’t be referring to “CFAs”; you already knew that, of course.)

And, yet, we don’t always follow them.
(But we’re more trustworthy. Trust me on that one. )

 

[rian4489]

“Trust me, the performance reports are correct” ~Bernie Madoff

 

[Greenman72]

S2000magician wrote:

Hank Moody wrote:To S2000 comments, why is it a misreprentation to say that CFAs are more trustworthy? We’ve pledged to a code that requires us to be honest and fair, so it’s a factual statement.

It’s not a factual statement.

It’s an opinion. Just like “three years of vigorous exams” and “gold standard”. Yet CFAI doesn’t seem to balk at these.
To say, “I’m more trustworthy because I passed the test” is ignorant and stupid. But I’m not sure if it’s a violation.

 

[itera]

doesn’t the CFAI literally use “gold standard” on their own advertising ?

 

[picur]

S2000magician wrote:

Hank Moody wrote:To S2000 comments, why is it a misreprentation to say that CFAs are more trustworthy? We’ve pledged to a code that requires us to be honest and fair, so it’s a factual statement.

It’s not a factual statement.
Others who haven’t made that pledge may be as trustworthy as covered persons who uphold their pledge.
Some covered persons don’t uphold their pledge.
CFA Institute says that you cannot say that you’re more ethical than the next guy; if you’re not necessarily more ethical, why are you necessarily more trustworthy?

While waiting for CFAI’s opinion, look what I found on the CFAI website:
“Ethical Grounding – Charterholders are trusted, objective experts who have been trained in investment ethics and are held accountable to a strong Code of Ethics.
Industry Respect – Charterholders earn instant credibility with peers, employers, and clients who know the hard work it takes to earn the charter.”
source: http://www.cfainstitute.org/programs/cfaprogram/charter/value/pages/index.aspx

 

[picur]

picur wrote:

S2000magician wrote:

Hank Moody wrote:To S2000 comments, why is it a misreprentation to say that CFAs are more trustworthy? We’ve pledged to a code that requires us to be honest and fair, so it’s a factual statement.

It’s not a factual statement.
Others who haven’t made that pledge may be as trustworthy as covered persons who uphold their pledge.
Some covered persons don’t uphold their pledge.
CFA Institute says that you cannot say that you’re more ethical than the next guy; if you’re not necessarily more ethical, why are you necessarily more trustworthy?

While waiting for CFAI’s opinion, look what I found on the CFAI website:
“Ethical Grounding – Charterholders are trusted, objective experts who have been trained in investment ethics and are held accountable to a strong Code of Ethics.
Industry Respect – Charterholders earn instant credibility with peers, employers, and clients who know the hard work it takes to earn the charter.”
source: http://www.cfainstitute.org/programs/cfaprogram/charter/value/pages/index.aspx

And from the same source concerning skills:
“Real-World Expertise – With a minimum of four years of experience in the investment decision-making role needed to earn the charter and the insights from a curriculum built on current industry best practices, charterholders have one of the most up-to-date and advanced skills sets on the planet.”