easy · Certified Financial Planner Risk Management
According to the CFP Mindset Seven-Rank Hierarchy, what rank is 'Process Precedence,' and what does it imply for a planner whose client asks for a disability insurance recommendation?
- Rank 5; identifying the binding constraint is more important than following the seven steps.
- Rank 1; the planner's loyalty to the insurance company takes precedence over the client's needs.
- Rank 2; the planner must not offer a recommendation before gathering data and quantifying goals.
- Rank 7; quantitative optimality is the most important factor in selecting a policy.
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