Focus on Fiduciary Standard Puts Adviser Negligence in Spotlight. @HDelux talks with @FinancialTimes.

Negligence claims are a risk for financial advisers of all stripes. “The first step is to be completely aware of all conflicts of interests — and if you can’t avoid or minimize them, you must disclose all of them,” says Brian Hamburger, president and CEO of MarketCounsel, a business and regulatory consulting firm for investment advisers. He warns that disclosure alone does not satisfy the requirement that an adviser has acted in the client’s best interest. Investors need to be engaged in the process and have a full understanding of all products and decision-making.

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