File Note – Statement of Advice

1202AFE Financial Planning 1
Trimester 1, 2019
File Note – Statement of Advice
Client's name: Steven Holt and Amy Samberg
Date of contact: 1 April 2019
Re: Initial Appointment
FSG and adviser profile
Steven and Amy were handed Financial Services Guide (FSG) version 5 010219 and my
Adviser Profile at the interview on 1 April 2019. The FSG was explained to them.
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, personal tax-deductible contributions 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
Your personal profile Steven Holt Amy Samberg
Date of birth 27th January 1993 12th May 1992
Current age 26 years 27 years
Marital status De-facto De-facto
Residency Status Australian Australian
Residential address 1/15 Surf Street, Mermaid Beach
QLD
1/15 Surf Street, Mermaid Beach
QLD
Telephone [phone] 013 503
Email address [e-mail] [e-mail]
Employment status Full time Full time
Dependents Current age& date of birth
NA NA
Your health Steven Holt Amy Samberg
Current health Pretty healthy Pretty healthy
Pre-existing medical conditions? None None
Member private health fund None Yes
Smoker? NO NO
Family history considerations? Depression on father’s side Mother’s stroke last year

1202AFE Financial Planning 1
Trimester 1, 2019
Lifestyle Assets Owner Value
e.g. house, cars, home contents etc
Cars Steven and
Amy 32,000
Home Contents Joint 25,000
Subtotal 57,000
Financial Assets – Non-Super Owner Value
e.g. bank accounts, shares, rental property, managed
funds etc
Bank Account Steve $8,500
Term Deposit Amy 5,000
Home Property Joint 450,000
Subtotal 463,500
Financial Assets – Super Owner Value
Provide details of any superannuation fund(s) held
Q Super and SunSuper Steven 37,250
Australian Super Amy 26,000
Subtotal 63,250
Assets Total 583,750
Liabilities Owner Limit
Amount
outstandin
g
Interest
rate
Repaymen
t
Credit Card Amy 6,000 1500 18% 270
Mortgage Joint 357,000 4.1% 14,637
Liabilities Total 14907
Net Worth (Assets – Liabilities) $x568,84
3
Client Income $
Income source e.g. salary / wages, dividends, rental income etc
Salary for Amy and Steven 160,000
Income Total 160,000
Expenses – N/A for this assignment
Estimated Cash Surplus / (Deficit) per month $x825
INSURANCE
Owner Insurance
Type
Insurance
Provider
Benefit
Amount
Waiting
Period
Benefit
Period Premiums
e.g. client’s
name /
super fund
e.g. income
protection
Steven Income Q Super 765,000 180 days 2 years NA

1202AFE Financial Planning 1
Trimester 1, 2019
Protection
Insurance
Amy
Total
and
Perman
ent
Disabilit
y
insuran
ce
Australian 250,000 NA NA NA
Potential issues / special consideration
 One of the key issues that have been highlighted is that Amy and Steve are engaged
and are going to get engaged. It is seen that the potential issue has been that they
have only one source of income and that is their salary. The other issue that has
been addressed has been that the couple do not have sufficient amount of savings
that they can use with the help of which they can maintain a better lifestyle.
 They are even looking forward to have a grand wedding and planning to have a big
honeymoon and therefore are in need of sufficient amount of money with the help of
which their balances can be attained.
 It even needs to be considered that the couple are in need of undertaking
investments with the help of which their income can be increased. It is even seen that
the couple has to maintain their income in a proper manner as they need to pay off
their existing mortgage for the property that they have purchased.
 One of the key considerations for the couple has been that there are few factors that
have been assumed as well as ignored in order to prepare a proper statement of
advice for the couple and thereby provide proper recommendation.
 It is even considered that the couple will be in good health and thereby any sort of
additional expenses will not be incurred.
Objectives
 After reviewing the information that have been provided from your end I can
understand that there are several aims and objectives which you want to attain and
all the objectives need to be fulfilled and therefore as per the priority the objectives
have been laid down as follows:
 The primary objective is to create sufficient amount of income with the help of which
you can undertake your grand wedding. The amount of money that is required is
calculated and will be shown in the latter section and the creation of that amount will
be helpful in making your wedding a grand success. Even though you gave
estimated an amount that is ideal for your wedding but it is seen that a buffer amount
has to be maintained with the help of which any sort of emergency expenses can be
covered up.
 The next objective that is needed to be attained is planning for a big honeymoon.
You have been planning for this honeymoon for a very long time and therefore it is
our job to ensure that you dreams come true. As per your discussion the honeymoon
will for a longer duration of time in Europe and therefore adequate money needs to
be maintained with the help of which their dreams can come true. Hence, a proper
sum of money needs to be maintained so that they can perform their grand success
as well complete their honeymoon plans as well.
 The other objective that has been understood has been planning for a proper level of
investment with the help of which they can increase their income and even maintain
a proper lifestyle. The portfolio has to be created in such a manner such that their