C.Assessment And Analysis Flashcards
What are the 5 key demands and needs most clients will have?
Protection, Income protection, Pensions, Savings, Investments
What 4 stages will an advisor follow to identify clients needs?
Identify, Discuss, Quantify and Prioritise.
What should the advisor clarify to Evaluate attitude to risk?
Understanding of investment risk, ability and willingness to make risk investments, understanding, knowledge and experience of investment types, financial capacity for loss.
Why is it important for the adviser to be clear if the client has ethical preferences?
Some clients may not approve of investing in companies producing certain products, client might consider an ethical fund.
How will the advisor assess the affordability of a product?
Full analysis of incomings and outgoings using fact find, maintains healthy level of surplus income.
How will the advisor assess suitability?
This include the following; Tax, State benefits, clients demands and needs, objectives, affordability, term of product, investment risk, ethical preferences and risk warnings.
