If the client needs to accumulate wealth but is risk-averse, which of the following is the most crucial action the planner must take to have the client achieve the goal of wealth accumulation?
Advise investing the client's current assets
a. In the products that will bring the highest return to the client regardless of risk.
b. In products that produce high income for the client because fixed-income products are generally safe.
c. In diversified mutual funds because of the protection that diversity provides.
d. After determining the client's risk tolerance.
e. In 100 percent cash equivalents in the portfolio because most software programs recommend this safe approach?