You are a CFP® designee who has been approached by the general partner of Beverage King...
You are a CFP® designee who has been approached by the general partner of Beverage King Industries (BKI) to provide financial planning services to the top executives at BKI. Your brother has a ten percent limited partnership interest in BKI. Can you accept this engagement?
A. No, because your integrity is impaired.
B. No, because your objectivity is impaired.
C. Yes, but only after proper disclosure.
D. Yes, because your integrity and objectivity are not impaired; no disclosure is needed.
Homework Answers
Ans C. Yes, but only after proper disclosure.
The agreement can be accepted since the percentage is lower than the standards prescribed under the law. The case is a related party transaction and thus disclosure for related party is to be given in the financials.
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