Episode Summary An advisor could understand your financial situation perfectly, but if they recommend an investment they have never actually analyzed, their advice is worse than useless. In this episode, John and Jane explore the legal bridge that connects knowing the client (KYC) with knowing the investment (KYP): the suitability determination. They break down how the 2021 Client Focused Reforms legally require advisors to put your interests first, explain why cost is now a mandatory factor in recommendations, and demonstrate the eye-watering mathematical impact of high fees over time.

Key Concepts

• The KYP Obligation: Registrants must analyze and understand the actual structure, risks, features, and costs of any ...