Practice Quiz

Financial Planner

Category - Retirement Savings and Income Planning

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In business succession planning, whose responsibility is it to hire a financial planner?
  1. Only the business owner
  2. Only the potential successor
  3. The business owner and potential successor must hire a financial planner together
  4. The business owner, potential successor, or both together may hire a financial planner
Explanation
Answer: D - In business succession planning, either the business owner or potential successor may hire a financial planner to help reduce information asymmetry and increase the likelihood that the business succession will be successful. Sometimes, both will hire a financial planner who meets the business’s needs together.
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