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Financial Planning for Professionals
Terms in this set (10)
All of the following are examples of qualitative information that should be collected by the financial planner EXCEPT:
Client age and number of children.
Tiffany Evans, a medical doctor and prospective client, has come to your office for the first time. Which is the most appropriate way to greet her?
"Welcome to my office, Dr. Evans."
During your meeting with your client, Hayden Doyle, you recommended he purchase a personal liability umbrella policy (PLUP). Which part of the financial planning process were you engaged in?
Presenting the Financial Planning Recommendations.
Financial Planners earn compensation in the form of:
A percentage of assets managed.
An hourly rate or fee.
A commission on the investment and insurance products sold.
All of the above.
Maria Chen has been a client of yours for many years. In your quarterly meeting with Maria, you evaluate her retirement portfolio performance and ensure that progress is being made as expected. Which part of the financial planning process are you engaged in?
Monitoring Progress and Updating.
Which of the following is most likely to take place in the Analyzing the Client's Current Course of Action and Potential Alternative Courses of Action Step?
After your meeting with David, you prepare his current financial statements.
Which of the following is usually included in an engagement letter?
Defined parties to the agreement.
Description of fees and costs.
Time horizon for the work to be completed.
All the above.
Identify the stage of the financial planning process in which the planner is engaged.Your client, Donald, provides you with his tax returns from the previous year.
Understanding the Client's Personal and Financial Circumstances
Identify the stage of the financial planning process in which the planner is engaged. During their meeting with you, Johnny and June call the benefits office to adjust their tax withholding to better suit their financial needs.
Implementing the Financial Planning
During your meeting with Jeff, you provide him with three education savings plans to choose from.
Presenting the Financial Planning Recommendations
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