Which of the following options would likely NOT be considered a conflict of interest?

Using a full-service brokerage firm for trades is generally less likely to be viewed as a conflict of interest compared to the other options. A full-service brokerage firm usually operates independently of banking institutions, thus minimizing the potential for personal or organizational biases towards specific investment products or services tied to a bank. This independence fosters a more objective advising relationship, where the interests of the client can be prioritized without undue influence from the bank's interests.

In contrast, the other options involve scenarios where the bank's interests could potentially influence the decisions made. Using a bank-owned brokerage affiliate for trades, for instance, may create incentives for the bank to promote its own services at the potential expense of the client's best interest. Retaining bank stock in a trust account can indicate a vested interest that could lead to biased investment recommendations. Similarly, implementing a fee reduction policy specifically for bank employees may spark concerns about preferential treatment and conflicts arising from a dual loyalty to the employer and the client’s financial interests.