In personal finance, the professional duty requiring an adviser to put a client’s interests first is fiduciary duty.
A fiduciary must act with loyalty and care for the benefit of the person or organization to whom the duty is owed. In financial advice, that can involve managing conflicts, providing appropriate care, and avoiding actions that improperly benefit the adviser at the client’s expense.
The precise legal standard depends on the adviser’s role, services, regulator, and jurisdiction. Not every person who sells a financial product is subject to the same fiduciary obligations in every interaction. Some relationships are governed by different conduct standards, and an adviser’s title alone does not establish the applicable duty.
Clients should ask in writing how an adviser is compensated, what services are provided, and what legal standard applies. A fiduciary duty does not guarantee investment profits or eliminate market risk.