medium · Certified Financial Planner Tax Planning
The Ibarra household needs an emergency loan. Their CFP® professional, who is also a close family friend, offers to lend them $10,000 from his personal brokerage account at a market interest rate.
Which duty under the Standards of Conduct has been violated?
- Duty of Confidentiality.
- No duty is violated as long as the loan is disclosed and at a market rate.
- Duty of Competence.
- The Fiduciary Duty (Duty of Loyalty).
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