hard · Certified Financial Planner Retirement
Novak, a CFP® professional, is meeting with a client who has just inherited a $2,000,000 brokerage account. The client is eager to immediately move the entire balance into a diversified portfolio of aggressive growth stocks to maximize future wealth.
According to the Mindset Hierarchy, what is Novak's most appropriate next step?
- Decline the request until the client provides written disclosure of all related party conflicts.
- Gather additional qualitative and quantitative data regarding the client's current assets and goals.
- Implement the aggressive growth portfolio as requested to fulfill the duty to follow client instructions.
- Identify the binding tax constraint of the inherited account's basis step-up first.
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