Every day, financial advisors take perhaps the toughest ethical test in America. Entrusted with managing more than $30 trillion in assets by clients who are relatively naïve in the ways of financial markets, they face constant temptations and opportunities for self-enrichment. Seen in this light, it may be no wonder that around 7% of financial advisors have a record of misconduct. Instead, we might marvel at the fact that 93% have apparently kept their nose clean.
When godliness goes up, financial advisor misconduct goes down
