The client adviser relationship

This chapter takes an in-depth look at the critical importance of the client-adviser relationship. In this context, the data-gathering instrument is the primary tool used by the adviser to obtain all necessary information to 'know the client'. This data-gathering instrument is dissected into its fundamental components, so the information each part supplies, along with its uses, can be examined. The remaining steps of the financial planning process are also introduced and the chapter concludes with a discussion of behavioural finance and its importance in determining the client's risk profile.