Accountants & Attorneys

Examples of Conflicts of Interest

  • Accountant recommends strategies that benefit a third party without explaining the involvement of the additional parties.
  • Advisor recommends a service offering that is not the best solution for the client.

Questions Wealth Owners Should Ask to Surface Conflicts

  • How are your proprietary tax strategies developed? Are other sources of payment besides client advisory fees tied to these strategies?
  • Do you require clients to sign non-disclosure agreements to review proprietary tax strategies?
  • Is your compensation affected by the mix of products you recommend and sell?
  • What type of compensation agreement exists between you and others involved in this product?
  • Do you recommend any products that your firm was paid to develop for other providers?