Business Administration - Financial Planning RFC230 Lecture Notes - Lecture 1: Capital Market
19 Jan 2017
School
Professor
Document Summary
Identify existing gaps between the current financial situation and objectives. Have a frank discussion with the client if objectives cannot be achieved and need to be modified. If client started retirement savings too late, he may not be able to achieve his desired lifestyle, given return projections and savings rates. Ensure recommendations take into account quantitative measures (e. g. capital market projections, savi(cid:374)gs rates, et(cid:272). ); a(cid:374)d the (cid:272)lie(cid:374)t"s preferences, temperament and sophistication. The choice of strategy is up to the client, after he has been adequately informed about possible consequences and outcomes. Discuss strategies and recommendations with your clients. Full, plain and true disclosure according the fpsc code of conduct. Be specific with respect to the courses of actions and possible outcomes; quantify a range of outcomes. Contribute to your rrsp on a bi-weekly basis frequency of contribution will increase investment returns. Allow your clients to ask questions and express concerns.
