I know if the client is giving the CFA charterholder some reward based on the service they provide. As long as it is disclosed, this is ok. I am just wondering
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what if a friend (not a client) gives some expensive concert tickets to you as a gift for the investment advice you gave to them one day. You just did that for a one time basis. Does that have to be disclosed and why?
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If the the friend gives you cash instead of concert ticket. Will this be different from the frist situation?
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If you will continue to give advice to that friend on a on going basis? Will this be different from the first two cases?
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If the friend is really wealthy with over 20 million dollars and need help from you giving advice. Will that be different as well?
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If you are giving investment adice to a church as a volunteer without getting paid or receiving anything from them. Do you need to disclose that?
Any help would be much appreicated!