Jerry and Elaine called you one day and booked an appointment to review their retirement plan and investment portfolio. They heard about you through one of their friends who is one of your better clients. During the initial meeting, they explained that they are already working with a CFP professional - just like you - from Royal Bank of Canada and they wanted a second opinion about their financial situation. You are now meeting them for the second time. Julie tells you that she is the one that keeps track of the family finances and she pays all the household bills. She has prepared a Net Worth statement and a Cash Flow statement for you to get a better understanding about their current financial position. They are happy and surprised that you have provided them with a letter of engagement outlining your financial planning process and responsibilities for both parties. They explain that such a letter was not provided by their existing advisor

Answer rating: 100% (QA)

and they appreciate the transparency and professionalism During the meeting you review their current ... View the full answer