Counsel notice moral shortcoming (6)
I believe the answer is:
advice
'counsel' is the definition.
(thesaurus)
'notice moral shortcoming' is the wordplay.
'notice' becomes 'ad'.
'moral shortcoming' becomes 'vice'.
'ad'+'vice'='ADVICE'
(Other definitions for advice that I've seen before include "Counsel given" , "tip" , "Formal notice" , "What lawyer offers" , "Supposed words of wisdom" .)