willhm106 willhm106

13-06-2024
Business

Answered

What is the suitability rule?

A. The legal requirement that a beneficiary prove they are financially responsible
B. The legal requirement that a will be notarized by all people listed in the document
C. The legal requirement that a financial advisor put their client's financial needs before their own
D. The legal requirement for a broker to provide appropriate financial guidance to their client

Answer :

GinnyAnswer GinnyAnswer

13-06-2024

Final answer:

The suitability rule in finance mandates financial advisors to prioritize clients' financial needs above their own.

Explanation:

The suitability rule in finance is the legal requirement that a financial advisor must prioritize their client's financial needs above their own. This rule ensures that advisors act in the best interests of their clients by recommending suitable investments and strategies that align with their clients' goals and risk tolerance.

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