How does the nature of a financial planner's conflict of interest often differ from that of an investment banker structuring a large deal?
Answer
The planner's conflict is often advisory/product-driven, while the banker's is transactional/volume-driven.
The text contrasts these roles, noting that an investment banker's conflict might center on securing a large underwriting fee based on deal volume, whereas a financial planner's conflict is more frequently centered on recommending affiliated or proprietary products over superior external alternatives.
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