Which of the following statements is/are correct regarding the financial planning process?

1. When implementing a plan it is likely the financial planner will have to bring in outside professionals for assistance.

2. Reviewing a client's life insurance policy at the end of the year as part of an annual review is part of the implementation stage.

3. Monitoring of the plan is important. The planner and client should agree on the frequency of meetings.

Question options:

1 Only

Both 1 and 2

Both 2 and 3

Both 1 and 3