Sydney is a CFP® professional and recently met with a prospective client, Karen.

Karen is the owner of a chain of retail hardware stores throughout the southeast. Karen was referred to Sydney through a mutual friend. Karen is considering rolling out a new 401(k) plan to her employees and has asked Sydney to review her current plan and make a recommendation on improving the plan. Which of the following is required to be provided to Karen according to the Code of Ethics?

a. No written disclosures are required.

b. Sydney cannot accept the engagement without gathering comprehensive client data on Karen and the company.

c. Recommending and implementing a retirement plan for a company does not meet the definition of financial planning, however an accurate and

“plain English” description of the compensation arrangements being provided, must be disclosed in writing.

d. Recommending and implementing a retirement plan for a company meets the definition of financial planning and requires certain written disclosures.