Evaluating Loyalty to Clients: Maria's Case

Medium Asset Manager Code Loyalty To Clients

Maria is a portfolio manager at XYZ Asset Management, responsible for managing a range of investment portfolios for high-net-worth clients. Recently, Maria received a lucrative offer from a competing firm that would significantly increase her salary. In light of this offer, Maria begins to provide her current clients with fewer resources and less attention, focusing instead on transitioning them to the new firm in the near future.

According to the CFA Institute Asset Manager Code, how should Maria’s actions be assessed in terms of loyalty to clients?

Maria is acting appropriately as she is entitled to pursue better job opportunities.

Maria is violating her duty of loyalty to clients by neglecting their needs to focus on her personal gain.

Maria’s actions are acceptable since she is planning to inform clients of her transition before moving.

Hint

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