Chapter 26: Working with the Retail Client

In this section

• 26.1 The Financial Planning Approach
  • 26.1.1 Comprehensive Financial Planning
    An exploration of the holistic financial planning approach, focusing on how to identify, prioritize, and manage all aspects of a client's financial life.
  • 26.1.2 The Planning Process
    A comprehensive guide to formulating a financial plan using a step-by-step methodology and ensuring continuous client engagement throughout the process.
• 26.2 The Life Cycle Hypothesis
  • 26.2.1 Concept Overview
    Explore the Life Cycle Hypothesis (LCH) and how it impacts financial planning across different life stages.
  • 26.2.2 Application in Planning
    Understanding and applying the Life Cycle Hypothesis in financial planning to align with clients' evolving life stages and needs.
• 26.3 Estate Planning
  • 26.3.1 Fundamental Concepts
    An in-depth exploration of estate planning, highlighting its significance, purpose, and key elements such as wills, trusts, powers of attorney, and beneficiary designations.
  • 26.3.2 Tax Efficiency and Asset Transfer
    Strategies for minimizing estate taxes and efficiently distributing assets to beneficiaries while aligning with client wishes.
• 26.4 Ethics and the Advisor’s Standards of Conduct
  • 26.4.1 Fiduciary Duty
    This section explores the fiduciary responsibilities of financial advisors to their clients, emphasizing ethical standards and the importance of trust and transparency.
  • 26.4.2 Compliance with Industry Standards
    Understanding the integral role of compliance with industry standards in the realm of financial advisory services.
  • 26.4.3 Importance of Ethical Practices
    Exploring the significance of ethical practices in the client-advisor relationship and its impact on long-term success.