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Harry Markham Case Summary

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Harry Markham’s Loyalty Dilemma Markham was hired as an investment advisor to give advice on the state pension fund. He has concerned about the pension funds running out of money due to the liability risk associated with the higher values that were not being reported (Walsh,2016). The problem is that how can Markham give good advice on investments decisions to his clients when they don’t want to hear a negative report. He has live up to his moral obligation which is to be honest and trustworthy to his clients and all other parties when it involves investment decisions (Northouse, 2016, p.346). 1.) Why is Harry Markham feeling conflicted? Markham is feeling conflicted because of how the public pension fund was previously evaluated. While preparing his analysis for the pension fund he found that the numbers he estimated were significantly higher than those reported (Walsh, 2011, p. B6(L)). Not wanting to be the bearer of bad news Markham battle with his conscience on whether or not he should inform the pension board of the underestimated figures and the liabilities (Asanuma, 2010). His loyalty and ethical …show more content…

Before Markham reveals his estimate of the underfunding risk the previous values showed he should first seek the advice of his firm, to explain his situation of how his estimated pension values were significantly higher than the actuaries reported value, and then voice any concerns he had that was related to the liability risk associated with his estimated higher values of the pension fund which is a misleading to the pension board members. Markham gave his oath to the Code of Ethics and Standards of Profession Conduct and should adhere to the rules and regulations and not provide false information or mislead his clients under any circumstances (Code of Ethics and Standards of Professional Conduct,

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