FP1 - Chapter 1
What is the role of the advisor? - answer It is to take the client-driven approach, and
building-relationship approach.
Focus on the goal, identify barriers, provide product and service to meet the client
needs.
What is Providing financial advice? - answer It is the method you use to assess client's
situation. Define their goals , prioritize them and develop strategies to meet them.
What is the "FULL-SERVICE OFFER"? - answer It is the level of service that takes in
consideration the client's needs, as you develop integrated strategies to achieve their
goals.
What is the 5 step process to provide Full-Service Advice? - answer1) Assess the
client's financial situation
2) Define and prioritize their goals
3) Adjust the strategy based on their financial capacity
4) Identify product and service options
5) Conduct a periodic review
What is the 6 step Financial planning process ? - answer1) Establish a client/advisor
relationship
2) Collect data and information
3) Analyze data and information
4) Recommend Strategies to meet goals
5) Implement recommendation
6)Conduct a periodic review
In the first step of the client/advisor relationship,
What are your responsibilities towards the client ? - answer1) Integrity
2) Professionalism
3) Confidentiality
4) Objectivity
5)Diligence
In the collection of data and information, what are the two things you will use them for? -
answerA. Identify and priorize the goals and objectives (Hint the next step)
B. Assess the present financial situation to recommend a solution
What is the two type of data you are collecting from the client? - answera. Qualitative
data
b. Quantitative data
What is the role of the advisor? - answer It is to take the client-driven approach, and
building-relationship approach.
Focus on the goal, identify barriers, provide product and service to meet the client
needs.
What is Providing financial advice? - answer It is the method you use to assess client's
situation. Define their goals , prioritize them and develop strategies to meet them.
What is the "FULL-SERVICE OFFER"? - answer It is the level of service that takes in
consideration the client's needs, as you develop integrated strategies to achieve their
goals.
What is the 5 step process to provide Full-Service Advice? - answer1) Assess the
client's financial situation
2) Define and prioritize their goals
3) Adjust the strategy based on their financial capacity
4) Identify product and service options
5) Conduct a periodic review
What is the 6 step Financial planning process ? - answer1) Establish a client/advisor
relationship
2) Collect data and information
3) Analyze data and information
4) Recommend Strategies to meet goals
5) Implement recommendation
6)Conduct a periodic review
In the first step of the client/advisor relationship,
What are your responsibilities towards the client ? - answer1) Integrity
2) Professionalism
3) Confidentiality
4) Objectivity
5)Diligence
In the collection of data and information, what are the two things you will use them for? -
answerA. Identify and priorize the goals and objectives (Hint the next step)
B. Assess the present financial situation to recommend a solution
What is the two type of data you are collecting from the client? - answera. Qualitative
data
b. Quantitative data
