Which of the following is essential for a fiduciary to include as part of their investment process?

The inclusion of investment objectives in the fiduciary investment process is essential because these objectives serve as the foundational guidelines that dictate the direction of all investment strategies. Investment objectives articulate the specific goals that a client wants to achieve through their investment decisions, such as growth, income generation, or capital preservation. By clearly defining these objectives, fiduciaries can create tailored investment plans that align with the client's financial situation, risk tolerance, and time horizon.

Moreover, having well-defined investment objectives ensures that the fiduciary can make informed decisions about the selection of assets and the allocation of resources. This alignment between the objectives and the investment strategy is crucial in maintaining the fiduciary's duty of loyalty and care towards their clients, as it centers the investment approach around the clients' best interests. In summary, investment objectives are integral to developing a coherent and personalized investment strategy, thus making them a vital component of the fiduciary investment process.