Introduction

Welcome to Client/Customer Profile: the unit that teaches you how to build a complete picture of who your client is and what they need from their investments.

Exam Weight: ~6 questions

What You'll Learn

In this unit, you'll cover:

• Financial Goals and Objectives: The four primary investment objectives and how they match different client needs
• Current and Future Financial Situation: Cash flow analysis, net worth, existing investments, and future obligations
• Risk Tolerance: The key distinction between willingness and ability to take risk
• Time Horizon: How short, intermediate, and long-term horizons shape investment strategy
• Nonfinancial Investment Considerations: Values, behavioral biases, demographics, and life events that affect decisions
• Client Data Gathering: Know Your Customer (KYC) requirements, questionnaires, interviews, and documentation obligations

Why This Matters

Suitability is one of the most frequently tested concepts on the Series 66 exam. Every investment recommendation must be grounded in a thorough understanding of the client's goals, financial situation, risk tolerance, time horizon, and personal circumstances. A recommendation that is perfectly suitable for one client could be completely unsuitable for another. This unit gives you the framework to evaluate any suitability question on the exam.