Are firms required to provide composities to clients every 12 months, or is that only for prospects? I am reading that it is only prospects, and firms only need to provide current clients with composites upon request, but I seem to recall a practice question where the answer said that it is best practice to provide clients with an updated composite at least every 12 months.
Only requirement is prospects every 12, months. Recommended every 12 months for existing clients.