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(Solved) Assignment on Financial Planning

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Added on  2021-06-15

(Solved) Assignment on Financial Planning

   Added on 2021-06-15

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Running head: FINANCIAL PLANNING Financial PlanningName of the Student: Name of the University: Author’s Note:
(Solved) Assignment on Financial Planning_1
1FINANCIAL PLANNING Table of ContentsCovering Letter................................................................................................................................2Executive Summary.........................................................................................................................4Introduction......................................................................................................................................5Current Scenario..............................................................................................................................5Personal Details...............................................................................................................................6Objectives........................................................................................................................................8Cash Flow Statement.......................................................................................................................9Balance Sheet.................................................................................................................................10Accumulated Superannuation........................................................................................................11Risk Profile....................................................................................................................................13Current financial situation.............................................................................................................14Recommendations..........................................................................................................................15Bibliography..................................................................................................................................18
(Solved) Assignment on Financial Planning_2
2FINANCIAL PLANNING Covering Letter To Damian and Kathryn Baxter10/1553 Point Nepean Road Capel Sound-3940Dear Damian and Kathryn, I would like to show my deepest gratitude for giving me the honour of providing you with myservice and the advice that would be possible for me with the help of which effective level offinancial consultation can be provided on our behalf. I am happy that you have accepted myoffering of meeting up and having a face to face interview with the help of which I canunderstand the needs and desires that you have and accordingly provide you with the service thatwould be helpful for your future financial development. The advice that would be given wouldbe based on the data you have given to me and the advices that I would provide would beseriously be effective for you. My advices would be helpful to you both in making any kind offuture investments that would be helpful in the development of a better retirement plan. Theinvestments would even provide you with returns that would be effective and accordingly abetter future life for your family can be ascertained. The information that I have received from the fact finder table and the answers related to theinvestment concerns have been helpful for me in creating an understanding of your desires andaccordingly prepare a Statement of Advice for both of you. The Advice report would act as arecord and a guideline that can be looked down upon at any point of time in the future with thehelp of which better investment decisions can be undertaken and the goals and the desires thatyou wish to attain would be accomplished. I would even inform you about the interests and the
(Solved) Assignment on Financial Planning_3
3FINANCIAL PLANNING fees that would be levied on the advice that would be provided to you and in that manner betterunderstanding among each other can be accomplished. I would even like to inform you that our relationship as a being the financial consultant would belong term as I would be by your assistance even in the future and accordingly a better and safelifestyle can be maintained. Therefore I would be looking forward to be in your help at any pointof time and would be there to provide you with the help and assistance with the help of whichsustainable services can be provided. I would like to ensure that the advices and therecommendations that will be given from our end will be on the basis of the guidelines that havebeen put forth by ASIC. Regards Chris Simmons Signature Financial Consultant
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4FINANCIAL PLANNING Executive SummaryThe executive summary consists of the insight that would be assistive in the developmentof an action course that would be helpful in the development of the ideas and the strategies thatwould be effective enough in the development of a clear understanding of the advices and therecommendations that would be given to them. The summary is looking to explain the currentscenario and in this manner assist the client in creating a plan that would lead to the attainment oftheir current and future goals and objectives. The optimum outcome that can be provided to Mr.and Mrs. Baxter would be based on the implementation of the strategies that would berecommended to them. The client are in need of ideas and knowledge and therefore after readingthe summary the client would be able to undertake effective level of investment and accordinglycreate strategies and plans with the help of which the client would be able to understand theinvestment opportunities and risks. The fees and the charges that would be levied is evenexplained and thereby an understanding of the recommendations can be attained. Thesuggestions will be given on the basis of a precise and clear language and accordingly extensivelevel of financial knowledge can be attained.
(Solved) Assignment on Financial Planning_5
5FINANCIAL PLANNING Introduction The initial section comprises of the elements that would be explained in the Statement ofAdvice and accordingly would provide the results and the recommendations that would behelpful in the attainment of the objectives and the goals with the help of which the client wouldbe able to reach their financial goals. The statement has even looked to explain the segments likethe calculation of the superannuation, the cash flow statement, balance sheet construction andfinancial planning with the help of which effective level of future planning can be constructed. Itis seen that estate planning as well as the retirement planning of the couple is even provided withthe help of which the clients would be able to plan their future life in a cordial and effective way.The clients are even made conscious of the risks and the problems that may face in the futurecourse of time and accordingly would be helpful for them in making use of contingency plansthat would reduce the level of risks. Current Scenario The current scenario of the couple suggests that in the current time period the couplehave effective level of combined salary and currently are having a life that is comfortable. Theyfeel that they are not able to save adequate money. They are expecting a child and therefore theyare looking to save adequate money with the help of which they can have a safe and secured lifein the future and can even take care of the future life life of their child. They are even looking topurchase a house within 3 years and accordingly can construct plans in an effective manner.Kathryn will not be working after the child is born and she would be working after 2 years afterthe birth of her child. The couple are even looking for an effective level of retirement planningwith the help of which they would be able to save sufficient amount of money with the help ofwhich they can have a safe and secured lifestyle.
(Solved) Assignment on Financial Planning_6

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