Customer Investment Profiles and Suitability: Rapid Fire

What this video covers

• How to build a complete customer investment profile from financial factors (assets, liabilities, income, tax bracket) and personal factors (age, dependents, liquidity needs, experience), and why the profile is never static
• The three independent suitability obligations: reasonable-basis (product knowledge), customer-specific (this customer's profile), and quantitative (no excessive trading series)
• Why Reg BI governs retail customers while standard FINRA suitability governs institutional customers, and what "retail customer" means for exam purposes
• Reg BI's four obligations: Disclosure, Care, Conflict of Interest, and Compliance, and which three require written documentation
• The 1-2-3 accredited investor memory aid: $1 million net worth excluding primary residence, $200,000 individual income, $300,000 joint income, each for two consecutive years
• Why accreditation creates eligibility but never guarantees suitability, and why wealth does not equal sophistication
• The critical distinction between churning (requires scienter, or intent) and excessive trading (violates quantitative suitability with no intent required)