Know Your Client


Also found in: Acronyms.

Know Your Client

A form containing detailed information on the risk tolerance and investment goals of the client of a brokerage. The KYC form helps ensure that an investment adviser or broker does not make decisions that do not conform to the client's intentions. Filling out a KYC form does not mean that the investment adviser always makes correct decisions; it merely requires him/her to make decisions that will be generally accepted as sound for someone who seeks to do what is in the client's best interests. See also: Prudent-Person rule.
References in periodicals archive ?
After getting away with it once, crooked vendors know your client has poor internal controls and that she just assumes she ordered the items, they were delivered and she should pay the bill.
If you have--and many CPAs are guilty of this lapse--you know your client will be upset.
That way, were the primary bank to merge into a Goliath based light-years away, a second bank would already know your client.
If you don't know your client's CSN, you can get it at www.ftb.ca.gov/csn/.