Any investment advisor or financial analyst owes a fiduciary responsibility in managing the investments and assets of clients. Above all, an advisor must act solely in the best interests of the client, in a manner that is reasonably calculated to meet the client's long-term goals. Thus, if the client is relatively close to retirement and is not willing to take any risks with his or her assets, then the advisor might breach his or her fiduciary responsibility in purposefully investing all of the client's assets in a highly speculative, risky new business venture. One easy way to avoid breaching fiduciary responsibility is to ensure that the client is well aware of the routine, reasonable, risks of investing before undertaking any asset management on behalf of the client. Additionally, carefully documenting all transactions and/or other actions taken on behalf of a client is a good way to avoid potential liability for breach of fiduciary responsibilities.