Common use of Responsibility of the Client Clause in Contracts

Responsibility of the Client. The Client agrees to discuss his/her needs, goals and projected future needs candidly with the Advisor and to keep the Advisor informed of changes in his/her situation. The Client agrees to provide Advisor with all material information concerning the Client's personal and financial situation, investment objective and risk tolerance. The Client acknowledges that the Advisor cannot adequately perform its services on the Client’s behalf unless the Client performs such responsibilities on his/her part and that the Advisor’s analysis and recommendations are based, in part, on the information provided by the Client.