CISI ICWIM Question Answer
What is the first action an adviser takes to ensure that their advice is suitable for a client?
Offer the client a range of options
Draw attention to the cancellation period
Gather sufficient information from the client
Ensure recommendations are confirmed by a third party
The first step in financial planning is to gather sufficient client information before making any recommendations.
Key Information Required:
Income, expenses, and financial goals.
Risk tolerance and investment horizon.
Tax status and personal circumstances.
Regulatory Requirement:
The FCA's suitability rules mandate that advisers perform a full fact-finding process before offering advice.
???? Reference: FCA Handbook (COBS 9 - Suitability), CISI Wealth & Investment Management.
TESTED 06 Jul 2025
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