Which risk measure is primarily determined by time horizon, liquidity needs, and income stability?
QUESTION
Which time horizon category is typically defined as less than 3 years?
QUESTION
What is the primary purpose of an investment policy statement (IPS) in goal-based planning?
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ANSWER
To document objectives, constraints, and guidelines for managing the portfolio. An IPS serves as a foundational document that aligns investment strategies with client needs in goal-based financial planning.