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What is the focus of the "advisor standards" mentioned in the text?
Confidentiality
Investment ideas
Ethical decision making
Compliance rules
The correct answer is: Ethical decision making
The focus of "advisor standards" is primarily on ethical decision making. This involves ensuring that financial advisors act in the best interest of their clients, uphold integrity in their recommendations, and maintain a commitment to high ethical standards in their professional conduct. The emphasis is on fostering trust and accountability in the advisor-client relationship, which is foundational to the financial services industry. While confidentiality is crucial for protecting client information, and compliance rules govern the regulatory frameworks that advisors must adhere to, the overarching theme of advisor standards is centered on ethical practices. Investment ideas, though important, are secondary to the ethical obligations that guide an advisor's interactions and decision-making processes with clients. Therefore, the correct answer reflects the essential value placed on ethics in the advisory profession.