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How do I establish a client's personal and financial goals?

Client goals and objectives should be established and documented at the beginning of the relationship and reviewed periodically.

There are several important questions to ask to ascertain goals. These include:

  1. Why is the client seeking advice?
  2. What are the client's short-, medium- and long-term objectives?
  3. What is the client's risk tolerance? Does this apply to all or a portion of the
    portfolio?
  4. Other considerations such as the client's:
  • age
  • assets
  • savings rate
  • income taxes
  • tax rate

Use the goals and objectives worksheet to help establish goals for a client.

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