Which of the following is NOT a step to take before advising a new client?

Issuing a detailed marketing brochure is not considered a necessary step before advising a new client. While marketing materials can be useful for promoting services and establishing credibility, they do not directly relate to the preparatory due diligence required before providing personalized tax advice to a new client. In advisory roles, it's crucial to focus on understanding the client's unique situation and needs rather than on general promotional practices.

In contrast, identifying potential conflicts of interest is essential as it ensures the integrity and independence of the advisory relationship. Ensuring knowledge of tax implications is critical to provide informed advice tailored to the client's circumstances. Assessing existing tax arrangements with prior advisers allows for a seamless transition and ensures that previous strategies are understood and evaluated. Adherence to these steps maintains ethical and professional standards in tax advisory practices.