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Ethics & accountability · Balancing user vs business interest

Your client is weighing a sale. The cleanest outcome for them may be to stay independent, but a transaction is what generates your firm's advisory fee. As their banker, how do you handle the moment where the honest recommendation is "maybe don't do this deal"?

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My advice can't be a function of how I get paid, so I make the recommendation as if I had no fee riding on it, then disclose that the fee does ride on it so the client can weight my view accordingly.

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