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A lawyer is ethically required to manage client funds in a manner that ensures their protection and proper accounting. Keeping client funds in a separate trust account is the standard practice to safeguard these funds. This means that the funds are not mingled with the lawyer's personal funds or used for personal expenses.

Trust accounts are specifically designed for holding client funds, providing a clear record of transactions and protecting the client’s money from any potential financial issues that the lawyer may face. Any interest accrued from these accounts usually belongs to the client or may be directed to legal aid or similar services, depending on the jurisdiction’s regulations.

As for the other options, keeping client funds in a personal bank account poses a significant risk of misappropriation and does not meet ethical standards. Holding the funds in a joint account with a client can create complications regarding ownership and control of the funds. Investing client funds in a high-risk venture without explicit consent would not only breach ethical standards but could also result in significant financial loss for the client, violating the fiduciary duty owed to them. Therefore, maintaining the funds in a separate trust account is the correct practice for adhering to the ethical standards expected of legal professionals.