An investment adviser is marketing an unproven asset allocation program to customers that has not been validated by real-world testing. The adviser believes that the program works well and tells this to potential buyers, but has no data to support this claim. If the adviser sells this program to customers, then the adviser:

The key to this situation is that the asset allocation program is unproven and has not been validated. The sale of such a program is an unethical practice. The adviser's claim that the program works well is bogus - there is no supporting data.

What is unethical business practice?

An action that contravenes generally accepted moral and (sometimes legal) norms for business conduct is referred to as an unethical business practice. Even while not, everyone shares the same moral standards, unethical business practices typically involve dishonesty, undue influence, or hurtful behavior against clients, staff members, or other parties.

What constitutes unethical business practices?

Don't stop at market ethics.
misleading by introducing features that do not exist.
Cover up additional service fees.
Cover up the free software demo service.
unable to make a meaningful comparison.

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