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Suitability under Series 65 emphasizes aligning risk tolerance, time horizon, liquidity, and tax situation with portfolio construction. A recent retiree seeking current income and moderate stability generally benefits from a balanced approach: diversified dividend-paying equities can provide income and partial inflation participation; short-to-intermediate investment-grade (IG) bonds reduce interest-rate (duration) risk and contribute predictable income; Treasury Inflation-Protected Securities (TIPS) directly address purchasing-power risk; and a cash sleeve handles liquidity for near-term withdrawals and emergency needs. Choice B operationalizes these principles: it avoids excessive duration, adds equity income and inflation sensitivity, and preserves cash flexibility. Option A’s concentration in long-duration bonds heightens price volatility when rates rise and offers no explicit inflation hedge beyond nominal yields. Option C is too aggressive for a typical retiree, with significant equity beta and credit risk. Option D can secure lifetime income but sacrifices liquidity and growth potential; for many clients it would be a component, not the entirety, of assets. The recommended mix in B reflects prudent diversification and the fiduciary requirement to place the client’s interests first while managing sequence-of-returns and inflation risks in retirement.