Financial Adviser's Consent and Confidentiality
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Questions and Answers

What does the Standard require you to take into account when advising clients?

  • Only the client's current financial situation
  • Only the client's personal interests
  • The interests of other financial advisors
  • The broad effects of the client acting on your advice (correct)

    • When advising clients, what must you consider according to the Standard?

  • The client's social media presence
  • The client's current financial situation and long-term interests (correct)
  • Only the client's investment goals
  • The client's family members' interests and circumstances

    • What is a key aspect of the Standard's requirements for financial advisers?

  • Inquiring into the client's long-term interests and potential future circumstances (correct)
  • Only providing advice on high-risk investments
  • Providing advice solely based on the client's age
  • Only considering the client's current financial situation

    • Why must you consider the client's family members when advising?

    <p>Because their circumstances may be impacted by the client's actions</p> Signup and view all the answers

    What is an example of a factor that must be considered when advising clients?

    <p>The client's potential need for aged care accommodation in the near future</p> Signup and view all the answers

    What is a key requirement of the Standard in terms of investment recommendations?

    <p>Recommendations must be limited to 'ethical' or 'responsible' investments</p> Signup and view all the answers

    What is the purpose of considering the client's long-term interests and potential future circumstances?

    <p>To provide a more comprehensive financial plan</p> Signup and view all the answers

    What is a consequence of not considering the client's family members when advising?

    <p>The client's family members may not be considered in the advice</p> Signup and view all the answers

    What is the primary focus of the Standard in terms of financial advice?

    <p>Considering the client's long-term interests and potential future circumstances</p> Signup and view all the answers

    Why must you consider the broader effects of the client's actions when advising?

    <p>Because the client's family members may be impacted</p> Signup and view all the answers

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