What Is the First Step in the Financial Planning Process

question 12

Multiple Choice

What is the first step in the financial planning process?

• A)Gather data.
• B)Communicate investment objectives to client.
• C)Identify household spending.
• D)Identify household goals and needs.
• E)None of the above.

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Definitions:

Relationship Selling

A sales approach that focuses on building long-term relationships with customers rather than on individual transactions.

Multi-Level Marketing

A direct sales strategy where individuals sell products and recruit others to sell, earning commissions from their sales and the sales of the team they recruit.

Loyalty Selling

A sales strategy focused on creating and maintaining long-term relationships with customers to encourage repeat business.

Personal Relationship

A connection between individuals based on emotional or social bonds, often characterized by mutual respect, understanding, and communication.