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The advice never to mix business with pleasure often flies out the window when it comes to family members of financial advisors asking to become clients.
There can be major personal and professional troubles if these relationships aren’t managed appropriately. It’s especially complicated since there can be privacy concerns and conflicts of interest. There’s also the potential for familial relationships to sour if advice isn’t well-received or markets turn south. Relatives also tend to be more skeptical—or flat out refuse to...
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