Of the 250 questions on the Series 7 exam, four will focus on this critical function: "Evaluates customers in terms of financial needs, current holdings, and available investment capital, and helps them identify their investment objectives."

Before you sell any investment to a potential client, you should ideally know as much about the client as you know about the investment itself.

And, just as there is more to a security than its market price, there is more to the customer than how much he or she has to spend. Your recommendations will be determined by both financial and non-financial considerations.


Client Income Statement

Related Articles
  1. Financial Advisor

    Advisors Should Be Ready for These 5 Questions

    Advisors should be prepared to provide answers to these common questions asked by prospective clients.
  2. Investing

    The Series 79 Exam: What It Is And When You Need It

    If you're getting into the field of investment banking, you'll need to know all about the Series 79.
  3. Financial Advisor

    Investing Other People's Money: 5 Things You Must Know

    Learn the five things an advisor should know before investing another person's money, with a focus on the FINRA "know your customer" rule.
  4. Financial Advisor

    How Advisors Should Prep for an Initial Meeting

    First impressions count, so prepare well for your first meeting with a client. Get to know as much as you can about the person and be ready to answer questions.
  5. Financial Advisor

    Manage Your Clients' Expectations

    You can't control how they react to the market, but you can help them understand the reality of the situation.
  6. Managing Wealth

    Introduction To The Series 65 Exam

    The Series 65 is required in many states in order to be a fee-based advisor. Find out what it is and whether you need it.
  7. Financial Advisor

    How to Break the Ice with New Clients

    Conducting an effective, initial client–advisor interview is an essential part of any advisor’s job. Here are a few tips on how to get started.
  8. Financial Advisor

    Common Mistakes Advisors Make with Clients

    Financial advisors should learn to avoid making these these common mistakes with clients.
  9. Financial Advisor

    How to Impress Clients: The First Meeting

    When meeting a prospective client you don’t want your first impression to be your last. Here are some tips to make sure there's a second meeting.
  10. Retirement

    Determine Your Retirement Objectives & Goals

    Now that you know what you have and where everything is, you may think that it’s time to take action. But in order to do that, you need a plan, and that requires knowing what kind of investor ...
Trading Center