HS300 Fundamentals of Financial Planning Exam Questions with Verified Answers| Latest
Update Graded A+
7 Steps of the financial planning process 1. Understanding the client's personal and financial
circumstances
2. Identifying and selecting goals
3. Analyzing the client's current course of action and potential alternative course(s) of action
4. Developing the financial planning recommendations
5. Presenting the financial planning recommendations
6. Implementing the financial planning recommendations
7. Monitoring progress and updating
3 keys to establishing a solid client relationship 1. Effective communication
2. Respect the client's time
3. Demonstrate empathy
Minimum information to be included in engagement letter (7) 1. Identify parties involved
2. Identify and describe services to be provided
3. Disclosure of advisor's conflict(s) of interest
4. Disclosure of advisor's fees, costs and other compensation arrangements
5. Determination of the client's and advisor's responsibilities
6. Defined duration of the agreement
Update Graded A+
7 Steps of the financial planning process 1. Understanding the client's personal and financial
circumstances
2. Identifying and selecting goals
3. Analyzing the client's current course of action and potential alternative course(s) of action
4. Developing the financial planning recommendations
5. Presenting the financial planning recommendations
6. Implementing the financial planning recommendations
7. Monitoring progress and updating
3 keys to establishing a solid client relationship 1. Effective communication
2. Respect the client's time
3. Demonstrate empathy
Minimum information to be included in engagement letter (7) 1. Identify parties involved
2. Identify and describe services to be provided
3. Disclosure of advisor's conflict(s) of interest
4. Disclosure of advisor's fees, costs and other compensation arrangements
5. Determination of the client's and advisor's responsibilities
6. Defined duration of the agreement
