Ethics Q on client service levels

I had a question on this hypothetical situation: Joe performs quarterly comprehensive quarterly reviews with the owners of his 10 largest accounts and similar annual reviews with all the other clients. According to the CFA people, this is an acceptable practice. I understand that you have to review portfolios with clients at least once a year, so you aren’t really braking any rules. However, it seems that to have more frequent reviews for bigger clients that you would need to disclose this to all your clients. I understand that you can have different levels of client service depending on the size of the client, but don’t you need to disclose these different levels to all your clients? Any thoughts? Thanks in advance.

you need to disclose different service levels (i.e its ok to charge basic, average, and premium fees to different client bases as long as clients know the level of service they get based on different fee structures.). What isn’t ok is trading first or disseminating information first to large clients then small ones. now, getting back to your concern, if the large clients pay more and therefore request or are entitled to more frequent updates, this is likely (or should be) disclosed.

Not sure: if those ten are paying more for receiving “a better service”, that means that you have different levels, so you should disclose those different levels to everybody But if every client pays the same, is just that for marketing reasons you try your best with your best clients (which makes sense) I remember (level I or II, not sure) some examples where some guy sent research to all of his clients by e-mail, and then had a call with the biggest ones to discuss the report, and that was fine…