Practice Quiz

Financial Planner

Category - Professional Conduct and Regulation

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Which of the following is true regarding developing a client’s financial planning recommendations?
  1. You should not consider the client’s current course of action when developing financial planning recommendations.
  2. You cannot provide a general recommendation; all recommendations must be specific.
  3. Your recommendations may differ from other practitioners, as long as they reasonably meet the client’s goals.
  4. After considering recommendations, you can never request that a client change one of the mutually agreed goals.
Explanation
Answer: C - Each practitioner may have different recommendations based on analysis of a client’s current course of action and goals. As long as your recommendations reasonably meet the client’s goals, needs, and priorities, they do not have to be the same as any other practitioner. You can provide general or specific recommendations, and your recommendation can include continuing with a current course of action. In some cases, it may be necessary to change a goal after evaluation and recommendation.
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