The financial services industry has recently been handed new SEC rules for financial advisors. Advisors now must put their client’s interest above their own.
Many advisors get paid on commission. Oftentimes, bigger commission can be made on products that may not always be in the best interest of the client.
When you can make more money simply by steering a client to a different product, the temptation can be great to serve your own interest, rather than your customer’s interest.
James 4:3 teaches, “When you ask, you do not receive, because you ask with wrong motives, that you may spend what you get on your pleasures.”
Financial clients may now look closer at your motives. When deciding what recommendations you should make to your customers, pause and examine your own motives.