Which initial steps should a Dealer Representative take when meeting a new client?

The selection of conducting a Know Your Client (KYC) process and assessing investment goals as the initial steps when meeting a new client is fundamentally important in the role of a Dealer Representative. This approach helps establish a comprehensive understanding of the client's financial situation, investment experience, and risk tolerance.

The KYC process involves gathering essential information about the client, such as their financial status, investment objectives, and personal circumstances. This data is crucial in creating a tailored investment strategy that aligns with the client's unique needs and goals. By assessing investment goals, the Dealer Representative can recommend appropriate investment products that suit the client's risk profile and long-term objectives, ensuring that the client is more likely to achieve their financial aspirations.

Investing without this foundational understanding can lead to inappropriate product recommendations that may not suit the client, which could result in financial losses and dissatisfaction with the service provided. Therefore, initiating a meeting with an emphasis on KYC and investment goals lays the groundwork for a productive relationship built on trust and informed decision-making.