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Conflicting Business Models — And Why Advisory Can Be a Trailblazer

6th Aug 2025
by Rajmohan Krishnan

In a world where the lines between service and self-interest are increasingly blurred, only those who dare to stay true to their principles will stand apart. Advisory is not just a model — it’s a moral stance. 

When Profit Hijacks Purpose 

Very recently, a close friend confided in me. His family was facing a medical emergency — a difficult time, made worse by something entirely unexpected. He shared how private equity-backed hospitals were pushing unnecessary procedures, expensive diagnostics, and complex treatments — not out of medical necessity, but to recover massive infrastructure investments. 

He said, “I didn’t even have the courage to question the doctor. Who does, in such moments?”
That helplessness is engineered. The medical profession — once the noblest of callings — has increasingly become a machinery for profit, fueled by external capital and investor expectations. 

The Realtor’s Dilemma: Serving Two Masters 

This isn’t confined to hospitals. The same dual-allegiance syndrome exists in real estate. A few weeks ago, I had a run-in with a property broker. I asked him a simple question: “Are you representing me, the buyer, or the property owner?” He stammered. He had no answer. Because the truth is — he was working for both. 

In Tamil, there’s a saying: “Even if you drink milk under a palm tree, people will assume it’s toddy.”
In conflict-ridden roles, perception is reality. An intermediary must never be caught between interests. One must choose a side — or better still, walk away from conflicted situations entirely. 

Born to Be Different: The Entrust Ethos 

When I founded Entrust, I did so with one non-negotiable rule: Run far, far away from conflict.
We wanted no alliances with distributors, banks, or platforms that peddled products for commissions. We turned down multiple opportunities for partnerships — each one a chance to scale faster, perhaps. But we chose the harder path. The principled path. 

The journey has been anything but easy.
As Gandhiji stood for truth and non-violence amidst chaos, we chose ethics and client-alignment in an industry fueled by commissions and incentives. 

In a city full of nutcases, the sane man is branded mad.
That’s what it feels like to be a pure-breed advisor in the financial services world — an untouchable, a pariah. People look at you like you’re running a charity. They can’t believe you’re not cutting backdoor deals or running after “wallet share.” 

No Immediate Gratification — Only Deep Value 

The industry thrives on gratification-by-promise, not value-by-performance.
Candidates want bonuses upfront. Clients want impossible returns. Firms want growth at any cost. 

But spreadsheets are illusions. Performance is perception. What matters is process, alignment, and integrity.
That’s what Entrust stands for. We are not just advisors — we are confidantes.
We shield our clients from the mercenaries, both visible and invisible, who prey on ignorance, emotion, and misplaced trust. 

What Investors Need to Ask Themselves 

In this world of dazzling conflict and camouflaged greed, it’s time investors looked in the mirror and asked a few uncomfortable, but essential questions: 

  1. Whom Am I Dealing With?

Is it a banker or a wealth manager chasing targets? Or is it someone who truly has my interests at heart?
Many UHNIs maintain top-level relationships thinking it gives them an edge — but beneath that veneer lies a template-driven system designed to extract value from the client, not create it for the client. 

  1. What Am I Looking For — Returns or a Robust Process?

Returns can be manufactured, manipulated, and momentary. But a time-tested, quality-first process creates sustainable wealth. Don’t chase returns. Demand rigor, transparency, and conviction. 

  1. How Important Am I to Them?

Ask your banker: “How many clients do you manage in this city? In total?”
If you’re one in ten thousand, don’t expect personalized advice. Seek a boutique firm where you’re not a number — you’re the reason they exist. 

  1. What’s Their Business Model?

If they offer both advisory and distribution, depending on what’s convenient for them — run. That’s a conflict screaming for your attention.
An advisory firm stands tall on one principle — alignment with the client. 

The Courage to Walk Alone 

Yes, this path is lonely. You won’t have the largest team, or the flashiest office.
But you’ll sleep at night knowing you’ve upheld your integrity. You’ll have clients who trust you not just with their money — but with their lives, their families, and their future. 

In a world addicted to shortcuts, the trailblazer walks the hard road.
Entrust is not just a name. It is a promise — of conflict-free, principle-led, deeply aligned advisory. 

Summary 

The rise of conflict-ridden business models — in medicine, real estate, and finance — is eroding public trust. Intermediaries who try to serve two masters inevitably compromise the client. But there’s an alternative: pure advisory, grounded in alignment, not incentives. 

Entrust was founded on that ideal. It remains a rarity — a firm that stands apart by standing for something. The question is no longer whether such firms can exist. The real question is — are investors ready to choose integrity over convenience? 


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