Lisa and the 7 Steps

Lisa is a CFP® professional meeting a new client, Mark, for the first time. During their initial meeting, Lisa asks Mark about his financial goals, gathers his personal and financial information, and identifies his risk tolerance. Which step in the CFP Board's 7-step financial planning process is Lisa primarily engaging in during this initial meeting?

1. Step 1: Understanding the Client’s Personal and Financial Circumstances
2. Step 2: Identifying and Selecting Goals
3. Step 3: Analyzing the Client’s Current Course of Action and Potential Alternative Courses of Action
4. Step 4: Developing the Financial Planning Recommendations