When friends want a discount on advice

02/26/2013 | Investment Advisor

Many advisers say they struggle with being asked to discount their services to friends, family and key clients, but it's essential to clearly set boundaries on the practice, writes Mark Tibergien, CEO of Pershing Advisor Solutions. "Haggling devalues what you do and undermines what you have determined to be fair and reasonable," he writes. "For those who pull the 'friend card,' just bear in mind that unless they have demonstrated equal generosity or kindness in some form, they are not behaving as true friends."

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