Key Components of an Investment Policy Statement for Retirement

Imagine you are a financial advisor working with a client who is about to retire and is seeking guidance on their investment strategy. The client has a moderate risk tolerance, a time horizon of 20 years, and has specified that they would like to maintain their current lifestyle in retirement. Please outline the key components that should be included in their Investment Policy Statement (IPS) to ensure that their investment strategy aligns with their financial goals and risk tolerance.