Duties to Clients: Ethical Decision-Making Scenario

Emily is a financial advisor who has been managing investments for a group of clients for several years. One of her clients, Mr. Smith, has expressed interest in a high-risk investment opportunity, believing it may lead to high returns. Emily, however, is concerned about the potential risks associated with this investment given Mr. Smith's conservative investment profile and his stated financial goals of preserving capital and generating stable income.

In a recent meeting, Emily finds herself torn between Mr. Smith’s wishes for higher returns and her ethical responsibility to act in the best interests of her clients. How should Emily proceed in this situation?