‘It feels slimy’: My friend offered to be my adviser, but didn’t tell me he’s paid to push financial products. Can I trust him?

Site SearchClearSEARCHAdvanced Search ➔Search ResultsSymbolsNo results foundAll NewsArticlesVideoPodcasts0 ResultsNo Results FoundAuthorsNo results foundSectionsNo results foundColumnsNo results found The Moneyist‘It feels slimy’: My friend offered to be my adviser, but didn’t tell me he’s paid to push financial products. Can I trust him?‘His revenue sharing, which he did not disclose, creates conflicts of interest as advisers may be incentivized to recommend funds that pay them more’Last Updated: March 29, 2026 at 10:58 a.m. ETFirst Published: March 24, 2026 at 5:15 a.m. ETShareResizeListen(10 min)“I’ve had initial consultations with three hourly, fee-based advisors. All of them seemed less engaged compared with the asset-based advisors I’ve met with.” (Photo subject is a model.) Photo: Getty Images/iStockphotoDear Quentin,I’ve typically kept business and personal relationships separate, but a good friend of mine is a CFP advisor at a major U.S. financial advisory firm — we’ll call it ACME after the fictional company — and says he operates as a fiduciary. After years of casually discussing finance without taking it further, I finally decided to meet with him and review my situation.Following his recommendations, I started doing some independent research on both him and ACME. I came across disclosures indicating that the company he represents participates in revenue sharing, and I noticed that many of the firms listed as paying ACME are now being recommended to me by this “CFP fiduciary.” About the Author Quentin FottrellQuentin Fottrell is MarketWatch's Managing Editor-Advice Columns and The Moneyist columnist. You can follow him on Twitter @quantanamo.Show Conversation (0)Back To TopA Dow Jones CompanyCopyright © 2026 MarketWatch, Inc. All rights reserved.Terms of UsePrivacy NoticeCookie NoticeArchive MarketwatchCustomer CenterContact UsNewslettersNewsroom RosterVirtual Stock ExchangeMarketWatch GuidesCopyright PolicyManage NotificationsCancel My SubscriptionCompanyDow JonesCode of ConductCorrectionsReprints & LicensingDigital Self ServiceYour Ad ChoicesCorporate SubscriptionsAccessibilityDow Jones NetworkThe Wall Street JournalBarron'sInvestor's Business DailyFinancial News Londonrealtor.comMansion GlobalDow Jones Smart MoneyIntraday Data provided by FACTSET and subject to terms of use. Historical and current end-of-day data provided by FACTSET. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.