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Flashcards in Skills Required when Advising Clients Deck (2)
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1

Fact-find good practice

1. Ascertain Risk Profile and explain risk vs reward

2. Objectives - discuss all objectives, not just one the client asks about

3. Interview all parties relevant (Family members etc)

4. Emergency Funds - good practice to work out if sufficient emergency funds

5. Mortgage details - can it be paid early, are there penalties for early repayment

2

Recommendations good practice

1. Match to risk profile

2. Send Suitability report which clearly sets out the fact-find and the reasons for recommendations

3. Explain limitations of not receiving full wide ranging advice

4. Explain if the advice is suitable if the client's circumstances change