FINANCIAL PLANNING ASSIGNMENT TEMPLATE.docx

1、FINANCIAL PLANNING ASSIGNMENT TEMPLATE13 September 2012Mr and Mrs Rajcevic12 Brady RoadDandenong NorthMelbourne VIC 3175Dear Mr and Mrs Rajcevic,It was an absolute pleasure meeting with you on the 5th of September to discuss both of your joint financial goals and implementation of strategies to make

2、 sure you lead a happy retirement. I would like to thank you for choosing Lion and Associates in helping you reach your goals. With our knowledge and expertise we guarantee to listen to our clients and help them in reaching attainable goals. We have come to the mutual agreement that you are seeking

3、a full financial plan. Furthermore, going back to our valuable and important discussions I have noted that you are currently seeking a reliable, easy and timely savings plan to meet your future retirement needs. We have also come to the agreement that your three children are independent and old enou

4、gh to support themselves, although you want to pay for your youngest daughters university expenses.Together with the information that you have given me, I have constructed your joint financial plan. If by any chance you find any missing or errors, please make sure you make contact with me as soon as

5、 it is evident. The reason for this being is that the financial plan is structured and based on the information that you have provided me with. Zoran, we have discussed that you will retire at the age of 66. In my opinion, this goal is achievable, as well as important to you. We have included that i

6、n your plan. This goal will need to be targeted and monitored to achieve an excellent outcome.The recommendations that I make are only suited to you. I have used your personal details in reaching those recommendations.The recommendations that I make will need to be implemented as soon as possible or

7、 within a timeframe of one month. However, if for some reason you feel that you are not able to implement those recommendations by then, please let me know and we will not take any further action in the plan, but we will review it and make sure you are satisfied by modifying it. For a peace of mind,

8、 we encourage you to implement those plans as soon as you can as financial regulations and financial markets change rapidly. Although we can control and monitor your financial goals, we unfortunately, cannot influence matters outside of our control. You are our main priority and we will guide you to

9、 a stress free and comfortable retirement. Please find attached a copy of our statement on privacy and details on the security of your personal information handy. We guarantee that the information you have given us will be kept in the strictest confidence. Our friendly team at Lion & Associates will

10、 gladly answer any of your questions that you have about your right to privacy.We strongly suggest that your plan be reviewed yearly. We need to evaluate and monitor your progress in saving and the effectiveness of your savings plan. We may also need to make some adjustments to perhaps your legal, p

11、ersonal and economic changes. We will be making contact with you via mobile telephone, as it is your preference. During that time we will discuss any issues or questions you may have. We will then make an appointment regarding the implementations of our steps. We will keep you updated on your progre

12、ss. Lion & Associates will be with you throughout your journey. Yours respectfully,Dragana Rajcevic BA BusAuthorised Representative(03) 9789 7654Financial plan: Including a Statement of AdvicePrepared for:Mr and Mrs Rajcevic12 Brady RoadDandenong NorthMelbourne VIC 3175Prepared by:Dragana RajcevicLi

13、on CvetanovicMichael Carlo DimechTheary JoneIMPORTANT INFORMATIONYour Statement of Advice is a very important document. We advise you to thoroughly read the document before you make any decisions on the recommendations we have made. If you have any questions regarding your Statement of Advice or you

14、 have difficulty comprehending what is stated, please contact one of our financial advisers. We will gladly assist you. This document does state some recommendations of the purchase of insurance products. You will need to note that under the Life Insurance Act, a 14-day cooling off period applies to

15、 you, where you may change your mind without incurring any significant penalties. Lion & Associates strongly recommend that you make contact with your accountant or finance professional before you act upon these recommendations. The reason for this is that it is vital that you are well informed abou

16、t what may affect you. Scope of our adviceMr and Mrs Rajcevic, we would like to inform you that you are entitled to receive a Statement of Advice (SOA) whenever Lion & Associates provides you with any personal financial advice. This advice takes into consideration all of your wants, needs, prioritie

17、s and financial objectives. You have advised us that you are seeking a full financial review and that we are not limited in any way to the information we seek. The Statement of Advice that we provide you with is a document for you to keep as it is an indicator that we have provided you with personal

18、 financial advice. We aim to give as accurate information as possible. Please let us know as soon as possible if there are any omissionsMr & Mrs Rajcevic, it is important to note that economic, legal and financial conditions are constantly changing. You may be exposed to such factors indirectly or d

19、irectly. Either way, we aim to take these things into consideration when we create your Statement of Advice. You will need to read and make sure that you have understood our Product Disclosure Statement, Financial Guide and our fees and charges. We are current university students who are studying Pe

20、rsonal Financial Planning. Our knowledge is limited but we do seek to provide the best financial advice possible. Our business is not real.We do not guarantee any of the returns on your capital or payments. We have made these judgements based on current conditions and logical predictions as well as

21、calculations. If fluctuation occurs in the economy, you can expect your money to fluctuate with it. Finally, we would like to advise you that we have based our information on our understanding of tax calculations and legislations. We are not tax advisers. You should seek separate advice for that in

22、that area of finance. We have included in this document the review of fees and charges that you may refer to.Executive SummaryThis section provides you with a summary of your financial plan. It is important that you read this plan in full and seek an explanation for anything you do not fully underst

23、and. Do not be afraid to contact us and raise any concerns you may have.YOUR CURRENT SITUATIONZoran and Mirjana Rajcevic, you are in the process of paying off your mortgage. Your home has a current market value of $350,000 and you both work full time and currently earn $50,000 and $41,000 p.a. respe

24、ctively. Your daughter Dragana is currently a dependant; however this is expected to no longer be the case at the end of next year. Zoran, your superannuation fund is currently at $19,398. Mirjana, your superannuation fund is currently at $17,090. Mirjana currently holds a savings account with a bal

25、ance of $21,700 which is earning 5% interest annually. You have recently received $10,000 from your sons as a gift. Dragana will have university fees totalling $20,000 being payable next year.YOUR FINANCIAL GOALSZoran and Mirjana, your main goals are to:- Retire debt free together at the end of 2030

26、- Pay off your mortgage within the next few years- Pay off all current debts as soon as possible- Establish an emergency fund of $12,000- Support your daughter Dragana in her year of dependency- Promptly pay off your daughters university fees totalling $20,000- Build an investment portfolio which is

27、 conservative (risk adverse) in nature- Accumulate wealth leading up to and in support of your retirement, with the goal of having $80,000 per annum in retirement using your current asset base- Cover your estate planning and insurance needsTo meet your financial goals, we are recommending increased

28、superannuation and personal savings as well as investing in cash based assets such as fixed term deposits and a managed cash trust. We also recommend purchasing an affordable insurance policy and establishing an estate plan that will carry out your wishes and benefit your children. Below is a summar

29、y of the key recommendations we have made:- Deposit $6,000 into a savings account to open an emergency cash fund- Use your sons gift of $10,000 and your residual income to pay off the university fees- Continue to provide payments of $300 fortnightly to your daughter for the remainder of the year. Sh

30、e is expected to be no longer dependant at the end of next year- Your mortgage will reduce to $10,200 at the end of the year. We advise increasing your monthly repayments by $25 to pay off the mortgage in the next 2 years- Open a fixed term deposit account with ING Direct with an amount of $10,000,

31、for the term of 24 months. The rate is 5.00%. - Zoran, contribute $13,000 of your salary to your super to save on tax and build your superannuation fund- Invest a minimum of $2,000 in a Perpetual Cash Management FundEXPECTED OUTCOMES- You will maintain an emergency cash fund of $12,000- Your daughte

32、r will be supported through dependency and her university fees paid for in full- Your mortgage will be paid off in the next few years- Zorans superannuation fund is expected to significantly grow with the addition of salary sacrificing a considerable portion of his income- You will accumulate wealth and investment opportunity to support your retirementThese expected outcomes are based on the assumptions which have been provided in this plan. There can be rapid changes in the investment markets and the regulatory envir