In the last decade, the financial services industry has seen an extremely negative reputation decline. This has been due to the countless financial crimes that have been conducted. As an aspiring financial advisor/planner, I must professionally be aware of the various legal problems that exist in this field and ensure I don’t fall victim to committing any of these crimes. Financial planning and advising services deals with helping clients with the various topics: equities, fixed income, real estate, insurance, taxes, retirement, and general financial planning. Dealing with clients on a daily basis, brings up many different liabilities. Certain financial advisors or planners must act as fiduciaries to their perspective clients. As discussed in class, there is a certain relationship regarding an agent and his principal. In my case, as a financial advisor I would act as the agent and my principal would be my clientele. Fiduciary, is the trust or loyalty I owe to my client, as an agent I am supposed to place my principals interests ahead of my own. Essentially a fiduciary relationship ensures that my client is given reasonable care, is accounted for, and I display…