Risk Tolerance

Date

MM slash DD slash YYYY

Household

Single

Couple

Client 1 Name

First Last

Client 2 Name

First Last

Goals and Liquidity Needs

1. Client 1: Which of the following best describes your investment objective for this portfolio?

Aggressive growth: taking considerable risk to maximize returns

Moderate growth: taking a balanced approach between risk and return

Conservative growth: emphasizing preservation of capital and limiting risk

Safety and income: you are not comfortable taking significant investment risk

1. Client 2: Which of the following best describes your investment objective for this portfolio?

Aggressive growth: taking considerable risk to maximize returns

Moderate growth: taking a balanced approach between risk and return

Conservative growth: emphasizing preservation of capital and limiting risk

Safety and income: you are not comfortable taking significant investment risk

The amount of cash to keep on hand in this portfolio for near-term expenses is:

3. Client 1: You are currently:

Withdrawing more than 3% of the portfolio value each year

Withdrawing less than 3% of the portfolio value each year

Adding up to 2% to the portfolio each year in the form of net savings

Adding over 2% to the portfolio each year in the form of net savings

3. Client 2: You are currently:

Withdrawing more than 3% of the portfolio value each year

Withdrawing less than 3% of the portfolio value each year

Adding up to 2% to the portfolio each year in the form of net savings

Adding over 2% to the portfolio each year in the form of net savings

4. Describe any expected changes to this pattern or other additions or withdrawals from your portfolio:

5. Client 1: How long until you might cumulatively withdraw an amount equal to 20% of your portfolio value?

Less than two years

2 to 5 years

5 to 10 years

Over 10 years

5. Client 2: How long until you might cumulatively withdraw an amount equal to 20% of your portfolio value?

Less than two years

2 to 5 years

5 to 10 years

Over 10 years

6. Client 1: What portion of your assets would you be willing to place in potentially illiquid investments with the goal of improving the expected risk and return characteristics of your portfolio?

0-5%

5-10%

11-20%

Over 20%

6. Client 2: What portion of your assets would you be willing to place in potentially illiquid investments with the goal of improving the expected risk and return characteristics of your portfolio?

0-5%

5-10%

11-20%

Over 20%

Risk Profile

7. Client 1: Please describe your level of experience with investing in stocks or in mutual funds:

Very inexperienced

Somewhat inexperienced

Somewhat experienced

Experienced

Very experienced

7. Client 2: Please describe your level of experience with investing in stocks or in mutual funds:

Very inexperienced

Somewhat inexperienced

Somewhat experienced

Experienced

Very experienced

8. Client 1: How did you react to the market decline in 2008 or during the height of the COVID decline?

Sold more than 15% of my stock market related holdings

Sold 15% or less of my stock market holdings

Maintained my exposure to the stock market

Increased my exposure to the stock market

8. Client 2: How did you react to the market decline in 2008 or during the height of the COVID decline?

Sold more than 15% of my stock market related holdings

Sold 15% or less of my stock market holdings

Maintained my exposure to the stock market

Increased my exposure to the stock market

9. Client 1: On a scale of 1 (low risk, low return) to 10 (high risk, high return) where you place yourself?

1 - Low risk/low return

5- Moderate risk/moderate Return

10 - High risk/high return

9. Client 2: On a scale of 1 (low risk, low return) to 10 (high risk, high return) where you place yourself?

1 - Low risk/low return

5 - Moderate risk/moderate Return

10 - High risk/high return

10. Client 1: What would upset or concern you more?

Owning stock when the market falls (incurring losses)

Holding cash when the market rises (missing opportunity)

Equally concerned about each

10. Client 2: What would upset or concern you more?

Owning stock when the market falls (incurring losses)

Holding cash when the market rises (missing opportunity)

Equally concerned about each

11. Client 1: Approximately what portion of your portfolio do you wish to have in more stable investments that have little fluctuation in value but provide lower expected returns?

0%-20%

21%-40%

41%-60%

61%-80%

81%-100%

11. Client 2: Approximately what portion of your portfolio do you wish to have in more stable investments that have little fluctuation in value but provide lower expected returns?

0%-20%

21%-40%

41%-60%

61%-80%

81%-100%

12. Client 1: The amount of volatility which you can tolerate in your portfolio is:

Low: you are willing to accept only a low level of fluctuation in portfolio value

Moderate: you can accept a moderate amount of fluctuation in portfolio value

Fairly high: you are only mildly concerned with fluctuation in portfolio value

High: you are unconcerned with fluctuation in the value of your portfolio

12. Client2: The amount of volatility which you can tolerate in your portfolio is:

Low: you are willing to accept only a low level of fluctuation in portfolio value

Moderate: you can accept a moderate amount of fluctuation in portfolio value

Fairly high: you are only mildly concerned with fluctuation in portfolio value

High: you are unconcerned with fluctuation in the value of your portfolio

13. Client 1: Below is a list of portfolios with hypothetical ranges for maximum gain and loss in any one year. Indicate which hypothetical portfolio most closely reflects your preferences:

Maximum gain of 12%, maximum loss of 10%. Annual return of 3.5%

Maximum gain of 20%, maximum loss of 15%. Annual return of 5.0%

Maximum gain of 30%, maximum loss of 22%. Annual return of 6.0%

Maximum gain of 40%, maximum loss of 30%. Annual return of 7.0%

Maximum gain of 50%, maximum loss of 40%. Annual return of 8.5%

13. Client 2: Below is a list of portfolios with hypothetical ranges for maximum gain and loss in any one year. Indicate which hypothetical portfolio most closely reflects your preferences:

Maximum gain of 12%, maximum loss of 10%. Annual return of 3.5%

Maximum gain of 20%, maximum loss of 15%. Annual return of 5.0%

Maximum gain of 30%, maximum loss of 22%. Annual return of 6.0%

Maximum gain of 40%, maximum loss of 30%. Annual return of 7.0%

Maximum gain of 50%, maximum loss of 40%. Annual return of 8.5%

14. Client 1: How confident are you that you are financially secure?

Not at all confident

Unsure

Moderately confident

Confident

14. Client 2: How confident are you that you are financially secure?