Practice Quiz

Financial Planner

Category - Professional Conduct and Regulation

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What, according to the Financial Planning Practice Standards, is vitally important in determining what activities the financial planner should do for the client?
  1. The practitioner’s recommendations
  2. The process of creating timelines
  3. The process of mutually defining goals, needs, and priorities
  4. The client’s current financial state
Explanation
Answer: C - All of these things are used in determining the practitioner’s activities for the client. However, the practitioner’s recommendations and the timeline should be based on both the client’s current financial state, goals, needs, and priorities. In order to determine the activities, it is vitally important that the practitioner and client work together to mutually define the client’s goals, needs, and priorities.
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