Ernesto works for an investment advisory firm. Daniel, a new client of the firm, meets Ernesto for the first time. After spending a few minutes getting acquainted, Ernesto explains to Daniel that he has discovered a very undervalued stock that offers great profit potential. He recommends that Daniel buy the stock. Ernesto has committed a violation of the Standards of Professional Conduct. What should he have done differently?

a$.$ Ernesto should have determined Daniel's needs, objectives, and risk tolerance before making a recommendation for any type of investment instrument.

b$.$ Ernesto should have thoroughly explained the characteristics of the firm to Daniel, including the characteristics of the industry in which the firm operates.

c$.$ Ernesto should have explained his qualifications, including his education, training and experience and the significance of the CFA designation.