medium · Certified Financial Planner Professional Conduct
Varela Financial Services refers clients to a local estate attorney who pays the firm a 500 'marketing fee' for each client who signs a retainer.
What must the planner do to satisfy Rank 4 (Disclosure) of the hierarchy?
- Disclose the fee arrangement to the client, obtain informed consent, and manage the conflict.
- Only disclose the fee if the client specifically asks about the firm's referral relationships.
- Decline the fees to avoid a prohibited transaction.
- List the attorney as the firm's 'preferred partner' on the website.
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