The following is my answer to a Quora question: “Do financial
planners get kickbacks from the stocks they recommend?”
If they did, it would be a conflict
of interest and a breach of ethics. It would
be a criminal offence, and they would lose their license. Financial consultants are not supposed to
have a relationship with the companies of the stocks they recommend, directly
or indirectly. If they do, they should declare
that conflict of interest, and it should be documented. Non-disclosure is a breach of compliance.
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