Question

Practice Standards 200-1 and 200-2 explain the financial planning practitioner's role in defining client goals and gathering data about the client. What does this include?

A. Obtaining sufficient quantitative information and documents about a client relevant to the scope of the engagement.

B. Determining a client's personal and financial goals, needs and priorities with the client.

C. Analyzing and evaluating the client's information.

D. Identifying and evaluating financial planning alternatives.

Answer 1

Practice Standards 200-1 and 200-2 in financial planning explain the financial planning practitioner's role in defining client goals and gathering client data. This includes obtaining relevant quantitative information and documents, determining client goals and needs, analyzing client information, and evaluating financial planning alternatives.

Step-by-step explanation:

Practice Standards 200-1 and 200-2 in financial planning explain the financial planning practitioner's role in defining client goals and gathering client data. This includes:

1. Obtaining sufficient quantitative information and documents about a client that are relevant to the scope of the engagement.
2. Determining a client's personal and financial goals, needs, and priorities through discussions and interviews.
3. Analyzing and evaluating the client's information to understand their current financial situation and potential future needs.
4. Identifying and evaluating financial planning alternatives that align with the client's goals and objectives.