Question

Financial advisors that adhere to a ______ standard must always act in the best interest of the client regardless of how it may affect the advisor.

Answer 1

The term that should be used to complete the blank space is:

• Fiduciary standard

• So, Financial advisors that adhere to a fiduciary standard must always act in the best interest of the client regardless of how it may affect the advisor.

What is a fiduciary standard?

A fiduciary standard is one that stipulates that investment advisors should always put the interest of their clients before their own. The fiduciary standard was first formed in the year 1940, and the body that regulates its activities is the Securities and Exchange Commission.

One of the things that are required of these investors is that they must not buy securities for themselves before purchasing the same for their clients.

Learn more about the fiduciary standard here:

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