wake2000

Direct Quotation from Standard of Practice handbook:

"Members and candidates must also understand
and adhere to any legally imposed fiduciary responsibility they assume
with each client. Fiduciary duties are often imposed by law or regulation when
an individual or institution is charged with the duty of acting for the benefit
of another party, such as managing investment assets. The duty required in
fiduciary relationships exceeds what is acceptable in many other business
relationships because a fiduciary is in an enhanced position of trust."

I think fiduciary duty may apply in this case to look for best execution. but its more a legal relation.