Ethics in the Real World - case study 5

Join us in our mission to raise ethical standards by contributing to the debate through these two questions.

After reading the case study about Joe and his father's inheritance, what would you do?

Question Title

* 1. Which of these statements would most strongly apply in this case?

It is inappropriate for Joe to be engaged in his father’s financial affairs due to his lack of objectivity

Joe’s actions indicate an indifference to avoidance of undue tax burdens through legitimate mitigation and tax evasion, which would amount to a form of fraud

Joe’s personal financial troubles and resulting questionable behaviour suggest that he is potentially unfit for a career in financial services

Joe’s ability to discuss his concerns in his personal life with his manager is vital to a healthy working culture and the fact that in this case it could impact his career is a breach of trust

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* 2. As financial professionals, it is not uncommon to become involved in the financial affairs of close family or friends. Is this something that should be avoided altogether? If not, what is the best way to approach scenarios such as family estate planning?