Establishing sufficient details about a client in order to give advice is known as:

Know Your Customer (KYC)

A regulatory process requiring firms to collect sufficient information about a client to ensure advice is appropriate.

It involves understanding the client’s financial situation, goals, and risk tolerance.

Why the Answer is D

Establishing sufficient client details is the essence of KYC. It ensures compliance with regulations and prevents mis-selling.

Why Other Options are Incorrect

A. Suitability and affordability: Part of KYC but does not encompass all aspects.

B. Attitude to risk: A component of KYC but not the full procedure.

C. Status disclosure: Refers to informing the client about the advisor’s regulatory status, not client profiling.

ICWIM Study Guide, Chapter on Regulatory Compliance: Details KYC as a cornerstone of financial advice.

FCA Guidelines: KYC is a mandatory process in the UK’s financial services.

ReferencesThus, the correct answer is D. Following know your customer procedures.