If you have disclosed to the IDOI, is it necessary to inform consumers about conflicts of interest?

The requirement to inform consumers about conflicts of interest stems from ethical practices aimed at maintaining transparency and trust in professional relationships. Even if disclosure has been made to the IDOI, it is still crucial to communicate conflicts of interest directly to consumers. This practice ensures that consumers are fully aware of any potential bias or influence that could affect the advice or services they receive.

By informing consumers, it demonstrates a commitment to ethical standards and fosters an open relationship. Transparency in disclosing conflicts of interest allows consumers to make informed decisions and helps maintain the integrity of the industry. Therefore, regardless of whether the IDOI has been informed, it remains essential to communicate this information directly to consumers as part of ethical obligations.