The cost of fraud is expensive with attorney fees, settlement costs, revocation of your license(s) and not covered by your errors and omissions insurance. Lies that are unintentional are still lies. Intent is irrelevant. Intentional lies could fall into the realm as criminal. Chronic falsehoods about products, planning and other planners may disqualify you as unfit to handle others finances not to mention losing your status as a fiduciary.
Inaccurate descriptions of policy provisions or product performance is a miss leading statement and considered false. If there is any intent to deliberately convey erroneous information and that intent can be proven, the likelihood of industry sanctions, loss of licensing and prison time is a very real possibility.
It can be somewhat surprising that often financial professionals are “winging” it in their presentations. Many casually make claims that are unsupportable, or the facts are inflated beyond reality to bolster the premise of the product sale. False claims or any exaggeration of the facts you use will be exploited against you in arbitration or in a civil lawsuit.