Which of the following is NOT a requirement related to client investment objectives?

The requirement that is NOT related to client investment objectives is providing an annual summary of performance reports. A summary of performance reports is generally related to the performance and return of an investment portfolio rather than the specific objectives that a client has for their investments.

In the context of investment management, understanding a client’s investment objectives involves creating and maintaining a detailed profile that captures their goals, risk tolerance, and preferences. This personalized profile ensures that portfolio decisions align with the client's unique mandates, allowing for effective investment strategies tailored to meet those objectives. The execution of a standard investment advisory agreement is also critical, as it formalizes the arrangement and sets the framework for how the investment advisor will help meet the client’s goals.

While providing performance reports is an important part of the advisor-client relationship, it does not directly address the client’s investment objectives; rather, it focuses on the results of those investments in relation to the objectives. Therefore, this makes it distinct and not a requirement related to the clients' investment objectives themselves.