13 MARCH 2004, Page 63

Q. I find that the best professional advice on an

important issue is available from a close friend, but he refuses to charge me for it. I prefer a formal client relationship and payment of the usual fee, as much to separate the two worlds as to ensure that I do get dependable advice. Which do I now sacrifice — my principles or the friendship? Or is there a third way?

RN., by email A. Thank the friend for giving you free informal information but either then go and instruct someone else to act for you or ask your friend to charge you, on the grounds that if anything goes wrong you can do something about it — an option not open if you had not paid and where you would then have a psychological problem in suing that friend. Warning: if your friend knows you well, he may already have views that lack the element of objectivity which is critically important.