Steven Wong Was an Ace Financial Advisor

question 59

Multiple Choice

Steven Wong was an ace financial advisor. He placed millions of dollars on behalf of his clients into certain debentures of Tippett Holdings Ltd. He did not inform his clients that he received hundreds of thousands in commissions from Tippett for obtaining all this investment. On the other hand, all of his clients made money on their Tippett holdings. Can any of his clients sue Wong?

• A)No. They have not suffered any financial loss
• B)No. Wong has not given negligent professional advice
• C)No. Wong has not placed his own interests above those of his clients
• D)Yes. Wong has committed a breach of fiduciary duty
• E)Both A and B

---

Definitions:

Everyday Work Practices

The routine actions and behaviors employees engage in as part of their daily work life, contributing to organizational culture and productivity.

Alertness

The ability some people have to identify opportunities.

Social Life

The part of an individual's time that is spent engaging with others, often in leisure activities.

Opportunities Exist

Refers to the presence of chances or situations favorable for achieving certain goals or starting new ventures.