Should you block your clients from buying 'bad' products?
June 21, 2016
Fidelity is making its brokers bar clients from buying unsuitable products, such as certain exchange-traded notes it deems bad choices. Suitability standards and fiduciary responsibilities are one thing, but if a client has their heart set on a specific investment, should you block them outright?
|Of course! It's our job to make sure our clients are investing wisely.|
|You can't. I'll advise my client it's a bad move, but if I blocked them they'd just go somewhere else.|