Superannuation and retirement planning assignment answers

financial planning assignment, writing homework help
Subject
Writing

Question Description
I need a tutor to help me complete this financial planning assignment.

thank youFile Note – Statement of Advice Client's name: Date of contact: Re: LiamSem 17 August 2016 Initial Appointment FSG and adviser profile Liam was handed Financial Services Guide (FSG) version 4 010716and my Adviser Profile at the interview on 17 August 2016. The FSGwas explained to him. Scope of advice Full statement of advice (SOA). Specifically, the SOA will provide advice on the achievement of wealth creation and lifestyle goals, personal insurances (that is life, total & permanent disability (TPD), income protection (IP), trauma and private health insurance), superannuation (including salary sacrifice and/or after tax contributions) and taxation planning where relevant. The SOA excludes any budgeting and cash flow analysis, as well as any advice on debt repayment, social security and estate planning. Client to be advised on the risks of not receiving advice in these areas. Current situation • • • Outline Liam’s current situation – this should be fact based, e.g. his income, assets / liabilities etc, plus any other facts that are relevant to your advice (especially those that you will refer to later) – think about the interview transcript and the questions asked to gather the facts - this information should be summarised here. Do not include his goals in this section – these would be included in the objectives section below. Please note, while in practice, this would be more summarised and a fact find usually attached, for the purposes of this assessment item, please include all relevant information. Potential issues / special consideration • Outline any potential issues or special considerations that you would like to mention e.g. anything unusual or issues that may not be relevant to your current advice, but could be an issue in the future etc. Objectives • • • Clearly state allof Liam’s goals / objectives, including non-financial objectives (such as ‘play more golf’). Donot include yourgoals or objectives or what you will recommend to the client. This section simply covers what the client’sgoals are. Best practice is to be as specific as possible, e.g. where possible include timeframes, priorities and $ amounts. Risk profile • • State the risk profile you arrived at in the interview and any details arising from your discussion about risk. Best practice is to include how you determined your client’s risk profile (e.g. did they just tell you or did you complete a questionnaire with them etc), what it means (in terms of timeframes, asset allocation etc) and what the client thought about this. Wealth creation recommendations – outside superannuation Before completing this section, I strongly suggest you watch the video’s below if you have not already done so: • Getting started: how to complete Part A: https://www.youtube.com/watch?v=6ZZMqfMr6xI&feature=youtu.be • Investment choices: https://www.youtube.com/watch?v=GLyK9oIyR_s For each part of the wealth creation / lifestyle recommendation sections below, you need to outline your recommended strategy(s) which should be linked to the client’s objectives and the advantages and disadvantages of each strategy, i.e. why the strategy is appropriate to the client and any potential costs / downsides. You also need to include details of any alternative strategies considered and why these were not recommended. An example format is given for objective 1 below. 1. Objective [change the title to the client’s objective you are advising on] • • • • • • • Outline your recommended strategy to achieve this goal, i.e.