Third, we take the issue of conflicts of interest seriously because it is equally relevant in the financial services industry. Many financial professionals do not believe they owe their clients a fiduciary duty and many are compensated through product sales or commissions. Technically, broker-dealers sit on the other side of the table from their clients because they are paid to sell financial products—and that incentive can conflict with the client’s best interest.As an attorney and investment advisor, I’m on the same side of the transaction with my client. That’s why I decided not to pursue a “broker” license but instead became licensed as an investment “advisor” which aligns with my professional career, my belief system, and my fiduciary duties to my clients as a lawyer. To read more about the differences between brokers and advisors, see our article: Brokers vs. Advisors: Who’s Really on Your Side?
