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Darrell Woolaver is the founding principal for Woolaver Capital Management. In his marketing materials, Woolaver makes it a point to tell clients the two primary responsibilities he has as a fiduciary when it comes to portfolio management. Responsibility 1: Construct each client’s portfolio so that it offers the maximum return per unit of risk. Responsibility 2: Regularly monitor the investor’s portfolio to make sure it continues to meet the client’s needs. With respect to his statements about the responsibilities Woolaver has as a fiduciary when it comes to portfolio management, Woolaver is: A. incorrect with respect to Responsibility 1, and incorrect with respect to Responsibility 2. B. incorrect with respect to Responsibility 1, but correct with respect to Responsibility 2. C. correct with respect to Responsibility 1, and correct with respect to Responsibility 2. |