As a financial analyst, you are responsible for providing investment advisory services to various clients. During a routine review of your relationships, you discover that a close friend of yours is a senior executive in one of the companies whose stock you recommend to clients. While you believe you are making objective decisions based on market analysis, you realize that you haven't disclosed this relationship to your clients.
In this scenario, according to the CFA Institute Code of Ethics and Standards of Professional Conduct, what should you do regarding the disclosure of your relationship?