FINANCIAL PLANNING ASSIGNMENT TEMPLATE.docx

FINANCIAL PLANNING ASSIGNMENT TEMPLATE.docx

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FINANCIALPLANNINGASSIGNMENTTEMPLATE

13September2012

MrandMrsRajcevic

12BradyRoad

DandenongNorth

MelbourneVIC3175

DearMrandMrsRajcevic,

Itwasanabsolutepleasuremeetingwithyouonthe5thofSeptembertodiscussbothofyourjointfinancialgoalsandimplementationofstrategiestomakesureyouleadahappyretirement.IwouldliketothankyouforchoosingLionandAssociatesinhelpingyoureachyourgoals.Withourknowledgeandexpertiseweguaranteetolistentoourclientsandhelptheminreachingattainablegoals.Wehavecometothemutualagreementthatyouareseekingafullfinancialplan.Furthermore,goingbacktoourvaluableandimportantdiscussionsIhavenotedthatyouarecurrentlyseekingareliable,easyandtimelysavingsplantomeetyourfutureretirementneeds.Wehavealsocometotheagreementthatyourthreechildrenareindependentandoldenoughtosupportthemselves,althoughyouwanttopayforyouryoungestdaughtersuniversityexpenses.

Togetherwiththeinformationthatyouhavegivenme,Ihaveconstructedyourjointfinancialplan.Ifbyanychanceyoufindanymissingorerrors,pleasemakesureyoumakecontactwithmeassoonasitisevident.Thereasonforthisbeingisthatthefinancialplanisstructuredandbasedontheinformationthatyouhaveprovidedmewith.

Zoran,wehavediscussedthatyouwillretireattheageof66.Inmyopinion,thisgoalisachievable,aswellasimportanttoyou.Wehaveincludedthatinyourplan.Thisgoalwillneedtobetargetedandmonitoredtoachieveanexcellentoutcome.

TherecommendationsthatImakeareonlysuitedtoyou.Ihaveusedyourpersonaldetailsinreachingthoserecommendations.

TherecommendationsthatImakewillneedtobeimplementedassoonaspossibleorwithinatimeframeofonemonth.However,ifforsomereasonyoufeelthatyouarenotabletoimplementthoserecommendationsbythen,pleaseletmeknowandwewillnottakeanyfurtheractionintheplan,butwewillreviewitandmakesureyouaresatisfiedbymodifyingit.Forapeaceofmind,weencourageyoutoimplementthoseplansassoonasyoucanasfinancialregulationsandfinancialmarketschangerapidly.Althoughwecancontrolandmonitoryourfinancialgoals,weunfortunately,cannotinfluencemattersoutsideofourcontrol.Youareourmainpriorityandwewillguideyoutoastressfreeandcomfortableretirement.

Pleasefindattachedacopyofourstatementonprivacyanddetailsonthesecurityofyourpersonalinformationhandy.Weguaranteethattheinformationyouhavegivenuswillbekeptinthestrictestconfidence.OurfriendlyteamatLion&Associateswillgladlyansweranyofyourquestionsthatyouhaveaboutyourrighttoprivacy.

Westronglysuggestthatyourplanbereviewedyearly.Weneedtoevaluateandmonitoryourprogressinsavingandtheeffectivenessofyoursavingsplan.Wemayalsoneedtomakesomeadjustmentstoperhapsyourlegal,personalandeconomicchanges.

Wewillbemakingcontactwithyouviamobiletelephone,asitisyourpreference.Duringthattimewewilldiscussanyissuesorquestionsyoumayhave.Wewillthenmakeanappointmentregardingtheimplementationsofoursteps.Wewillkeepyouupdatedonyourprogress.Lion&Associateswillbewithyouthroughoutyourjourney.

Yoursrespectfully,

DraganaRajcevicBABus

AuthorisedRepresentative

（03）97897654

Financialplan:

IncludingaStatementofAdvice

Preparedfor:

MrandMrsRajcevic

12BradyRoad

DandenongNorth

MelbourneVIC3175

Preparedby:

DraganaRajcevic

LionCvetanovic

MichaelCarloDimech

ThearyJone

IMPORTANTINFORMATION

YourStatementofAdviceisaveryimportantdocument.Weadviseyoutothoroughlyreadthedocumentbeforeyoumakeanydecisionsontherecommendationswehavemade.IfyouhaveanyquestionsregardingyourStatementofAdviceoryouhavedifficultycomprehendingwhatisstated,pleasecontactoneofourfinancialadvisers.Wewillgladlyassistyou.Thisdocumentdoesstatesomerecommendationsofthepurchaseofinsuranceproducts.YouwillneedtonotethatundertheLifeInsuranceAct,a14-daycoolingoffperiodappliestoyou,whereyoumaychangeyourmindwithoutincurringanysignificantpenalties.

Lion&Associatesstronglyrecommendthatyoumakecontactwithyouraccountantorfinanceprofessionalbeforeyouactupontheserecommendations.Thereasonforthisisthatitisvitalthatyouarewellinformedaboutwhatmayaffectyou.

Scopeofouradvice

MrandMrsRajcevic,wewouldliketoinformyouthatyouareentitledtoreceiveaStatementofAdvice（SOA）wheneverLion&Associatesprovidesyouwithanypersonalfinancialadvice.Thisadvicetakesintoconsiderationallofyourwants,needs,prioritiesandfinancialobjectives.

Youhaveadvisedusthatyouareseekingafullfinancialreviewandthatwearenotlimitedinanywaytotheinformationweseek.TheStatementofAdvicethatweprovideyouwithisadocumentforyoutokeepasitisanindicatorthatwehaveprovidedyouwithpersonalfinancialadvice.Weaimtogiveasaccurateinformationaspossible.Pleaseletusknowassoonaspossibleifthereareanyomissions

Mr&MrsRajcevic,itisimportanttonotethateconomic,legalandfinancialconditionsareconstantlychanging.Youmaybeexposedtosuchfactorsindirectlyordirectly.Eitherway,weaimtotakethesethingsintoconsiderationwhenwecreateyourStatementofAdvice.

YouwillneedtoreadandmakesurethatyouhaveunderstoodourProductDisclosureStatement,FinancialGuideandourfeesandcharges.

WearecurrentuniversitystudentswhoarestudyingPersonalFinancialPlanning.Ourknowledgeislimitedbutwedoseektoprovidethebestfinancialadvicepossible.Ourbusinessisnotreal.

Wedonotguaranteeanyofthereturnsonyourcapitalorpayments.Wehavemadethesejudgementsbasedoncurrentconditionsandlogicalpredictionsaswellascalculations.Iffluctuationoccursintheeconomy,youcanexpectyourmoneytofluctuatewithit.

Finally,wewouldliketoadviseyouthatwehavebasedourinformationonourunderstandingoftaxcalculationsandlegislations.Wearenottaxadvisers.Youshouldseekseparateadviceforthatinthatareaoffinance.Wehaveincludedinthisdocumentthereviewoffeesandchargesthatyoumayreferto.

ExecutiveSummary

Thissectionprovidesyouwithasummaryofyourfinancialplan.Itisimportantthatyoureadthisplaninfullandseekanexplanationforanythingyoudonotfullyunderstand.Donotbeafraidtocontactusandraiseanyconcernsyoumayhave.

YOURCURRENTSITUATION

ZoranandMirjanaRajcevic,youareintheprocessofpayingoffyourmortgage.Yourhomehasacurrentmarketvalueof$350,000andyoubothworkfulltimeandcurrentlyearn$50,000and$41,000p.a.respectively.YourdaughterDraganaiscurrentlyadependant;howeverthisisexpectedtonolongerbethecaseattheendofnextyear.

Zoran,yoursuperannuationfundiscurrentlyat$19,398.Mirjana,yoursuperannuationfundiscurrentlyat$17,090.Mirjanacurrentlyholdsasavingsaccountwithabalanceof$21,700whichisearning5%interestannually.Youhaverecentlyreceived$10,000fromyoursonsasagift.

Draganawillhaveuniversityfeestotalling$20,000beingpayablenextyear.

YOURFINANCIALGOALS

ZoranandMirjana,yourmaingoalsareto:

-Retiredebtfreetogetherattheendof2030

-Payoffyourmortgagewithinthenextfewyears

-Payoffallcurrentdebtsassoonaspossible

-Establishanemergencyfundof$12,000

-SupportyourdaughterDraganainheryearofdependency

-Promptlypayoffyourdaughtersuniversityfeestotalling$20,000

-Buildaninvestmentportfoliowhichisconservative（riskadverse）innature

-Accumulatewealthleadinguptoandinsupportofyourretirement,withthegoalofhaving$80,000perannuminretirementusingyourcurrentassetbase

-Coveryourestateplanningandinsuranceneeds

Tomeetyourfinancialgoals,wearerecommendingincreasedsuperannuationandpersonalsavingsaswellasinvestingincashbasedassetssuchasfixedtermdepositsandamanagedcashtrust.Wealsorecommendpurchasinganaffordableinsurancepolicyandestablishinganestateplanthatwillcarryoutyourwishesandbenefityourchildren.Belowisasummaryofthekeyrecommendationswehavemade:

-Deposit$6,000intoasavingsaccounttoopenanemergencycashfund

-Useyoursonsgiftof$10,000andyourresidualincometopayofftheuniversityfees

-Continuetoprovidepaymentsof$300fortnightlytoyourdaughterfortheremainderoftheyear.Sheisexpectedtobenolongerdependantattheendofnextyear

-Yourmortgagewillreduceto$10,200attheendoftheyear.Weadviseincreasingyourmonthlyrepaymentsby$25topayoffthemortgageinthenext2years

-OpenafixedtermdepositaccountwithINGDirectwithanamountof$10,000,forthetermof24months.Therateis5.00%.

-Zoran,contribute$13,000ofyoursalarytoyoursupertosaveontaxandbuildyoursuperannuationfund

-Investaminimumof$2,000inaPerpetualCashManagementFund

EXPECTEDOUTCOMES

-Youwillmaintainanemergencycashfundof$12,000

-Yourdaughterwillbesupportedthroughdependencyandheruniversityfeespaidforinfull

-Yourmortgagewillbepaidoffinthenextfewyears

-Zoran’ssuperannuationfundisexpectedtosignificantlygrowwiththeadditionofsalarysacrificingaconsiderableportionofhisincome

-Youwillaccumulatewealthandinvestmentopportunitytosupportyourretirement

Theseexpectedoutcomesarebasedontheassumptionswhichhavebeenprovidedinthisplan.Therecanberapidchangesintheinvestmentmarketsandtheregulatoryenvir