Client Advising Skills Flashcards
1
Q
What is financial advice?
A
Gather information, assess a clients circumstances, make a written recommendation.
2
Q
How should an adviser gather hard facts during the fact find?
A
- by writing to companies the client already has policies with
- by asking closed questions
3
Q
How should an adviser gather soft facts during the fact find?
A
- by asking open questions
4
Q
What are the 5 demands and needs that most customers have.
A
Hint- PIPSI
- protection
- income protection
- pensions
- savings
- investments
5
Q
What are the key rules on affordability?
A
- single premium recommendations, affordability must be shown at the point advice is given
- regular premium recommendations, affordability must be shown throughout any product term.
