Which of the following is NOT a typical responsibility of a financial advisor?

The role of a financial advisor typically revolves around guiding clients in their financial decisions, including investment strategies and portfolio management. Creating a client’s investment strategy involves assessing their financial situation, understanding their risk tolerance, and helping them make informed decisions about asset allocation.

While providing tax consultancy can fall under the umbrella of financial advice, it is often performed by specialized tax professionals. Conducting market research is also a common duty of financial advisors since understanding market trends and investment options is crucial for making sound recommendations.

Implementing legal contracts, however, is generally not a responsibility of a financial advisor. This task usually involves legal professionals or compliance officers who ensure that contracts adhere to the law and client agreements are executed properly. Thus, when evaluating standard responsibilities, the implementation of legal contracts does not align with the typical functions of a financial advisor.