INSIGHTS FROM CFA SOCIETY SINGAPORE ·
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Referrals to family and friends: Issues that could turn sour

Should a professional be recommended to investors, issues such as conflicts of interest and referral fees need to be disclosed to avoid potentially unpleasant situations in the future

INVESTORS in Singapore do discuss money matters and investments with their spouse, as well as close personal friends and work colleagues. Typical subjects include investment goals, performance, market news and what to invest in next. In the course of a chat, it is not uncommon for one party to recommend a particular professional. It is also not uncommon that friends, family and associates seek recommendations on professionals who could potentially help with investment plans.

A word of caution, though. The practice of recommending someone may work for most people. But one needs to be cognisant of relationships turning sour, especially if risk assets underperform. Should a professional be recommended...

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