Financial Planning Statement of Advice

This assignment involves critically reviewing a Statement of Advice (SOA) prepared by a financial planner for clients Wayne and Karen Brown. The document details the financial planning recommendations, fee structure, implementation process, ongoing advice, and a disclaimer highlighting potential investment risks. Students need to carefully analyze the SOA's content, including its recommendations, fees, and disclaimers.

Running head: FIN3CP
FIN3CFP
Name of the Student:
Name of the University:
Author’s Note:

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FIN3CP
Table of Contents
Covering Letter................................................................................................................................2
Section 1..........................................................................................................................................4
Section 2..........................................................................................................................................5
Section 3........................................................................................................................................11
Section 4........................................................................................................................................18
Section 5........................................................................................................................................22
Section 6........................................................................................................................................23
Section 7........................................................................................................................................24
Section 8........................................................................................................................................25
Section 9........................................................................................................................................25

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Covering Letter
The covering letter includes the personal information of the clients who have been taken into
consideration with respect to the case study.
Personal details
Client 1 Client 2
Title Mr. Mrs.
Surname Brown Brown
Given & preferred
names
Wayne Karen
Home address 10 Equity Street, South Morang Vic 10 Equity Street, South Morang Vic
Business address n.a. n.a
Contact phone n.a n.a
Date of birth 12th May 1959 27th February 1962
Sex  Male Female Male  Female
Smoker Yes  No Yes  No
Expected
retirement age
65 years (30th June 2024) 62 years (30th June 2024)

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To Wayne and Karen Brown,
10 Equity Street, South Morang
Victoria
Sub: Covering Letter for the Report
Date: 04/10/2017
Respected Mr and Mrs Brown,
In accordance to the interview that was undertaken earlier in the appointment, there has been a
discussion about the numerous components in accordance to the financial data in order to
construct an efficient retirement planning with the help of the salary sacrificing and the
increasing their level of income without having to pay less tax. In accordance to the meetings
that we had earlier, this paper has been constructed in order to establish a report, within which all
the questions have been answered according to the queries mentioned during the interview.
Kindly have a look into the report and revert in case of any discrepancy and recommendation.
The report has looked to cover up the areas that are in accordance to the effective retirement
planning.
Regards
John Wilson
Financial Consultant

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Section 1
Executive Summary
This report has been framed in order to answer the problems that have been discussed by
the client Wayne and Karen Brown who are in the idea of planning an effective retirement
planning process with the help of which the client can attain the highest income without having
to pay huge taxes. The paper has looked to assess the personal details of the client along with the
financial information and statements of the clients. The aim and the objective of the client has
even been mentioned in the report so that an effective plan and idea about the client and the
suitable strategy that would be effective for the client is explained.
The risk profile and the investment allocation strategy of the client is explained so that
the client can have an idea about the effective allocation process and the strategy that can be
useful for them. The body of the report explains the future projections and the strategies that can
be effective enough so that a clear picture about the retirement planning mechanism can be
understood. The benefits and the risks that are associated with the retirement planning of the
client can be assessed by constructing an amended cash flow. The paper even explains the
investment suggestions and the recommendations with respect to the investments of the client
have even been put forth so that the client can have an idea about the same. The charges and the
fees related to the consultation and the preparation of the report has been framed down as well.
The disclaimer and the authority to proceed has been put forward so that each and every aspect
can be understood effectively.

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Section 2
Personal Details
Personal details
Client 1 Client 2
Title Mr. Mrs.
Surname Brown Brown
Given & preferred
names
Wayne Karen
Home address 10 Equity Street, South Morang Vic 10 Equity Street, South Morang Vic
Business address n.a. n.a
Contact phone n.a n.a
Date of birth 12th May 1959 27th February 1962
Sex  Male Female Male  Female
Smoker Yes  No Yes  No
Expected
retirement age
65 years (30th June 2024) 62 years (30th June 2024)
Dependants (children or other)
Name Age Sex School Occupation
Brad 20 Male N.A N.A
Cory 18 Female N.A N.A
Amy 15 Female N.A N.A

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Employment details
Wayne Brown
Occupation Assistant Manager
Employment status Self-
employed
 Employee Self-
employed
Employee
Not
employed
Pensioner Not
employed
Pensioner
 Permanent Part-time Permanent Part-time
Casual Contractor Casual Contractor
Other Government Other Government
Business status Sole
proprietor
Partnership Sole
proprietor
Partnership
Private
company
Trust Private
company
Trust
Notes

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Employment details
Karen Brown
Occupation Nurse
Employment status Self-
employed
 Employee Self-
employed
Employee
Not
employed
Pensioner Not
employed
Pensioner
Permanent Part-time Permanent Part-time
x Part-time Contractor Casual Contractor
Other Government Other Government
Business status Sole
proprietor
Partnership Sole
proprietor
Partnership
Private
company
Trust Private
company
Trust

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Notes
Assets and Liabilities as on 01/07/2016
Item Owner
Market
Value
Joint or Owners's Name ($)
Home Joint 700,000
House Contents Joint 100,000
Car Karen 20,000
Total Lifestyle Assets 820,000
Liabilities
Home Mortgage Joint 100,000

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Investment Assets and Liabilities as on 01/07/2017
Item Wayne Karen Joint
1. Savings Account $0 $0
$18,00
0
2. Term Deposit (maturity dara 1st November 2015) $80,000 $0 $0
3. Share Portfolio
$
60,000 $0 $0
4. Super $425,000
$120,00
0 $0
Total $565,000
$120,00
0
$18,00
0
5. Liabilities $0 $0 $0
Income and Expense Details
Wayne Karen
Salary $122,000 $40,000
Employer Superannuation 10% of base salary
9.5% of base
salary

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Salary Sacrificing Available None
Savings Account 1%
Term Deposit 2.8 % p.a
Share Income 4% p.a Fully franked
Deductible expenses $3,000 p.a $1,000 p.a
Living Expenses $54,000 p.a
Mortgage payments $18,000
Entertainment and holidays $15,000 p.a
Statement Cash flow for the Year 01 July 2016
Particulars Wayne Karen Total
Income
Salary
$
122,000.00
$
40,000.00
$
162,000.00
Superannuation contribution
$
3,800.00
$
3,800.00
Share Portfolio
$
2,400.00
$
2,400.00
Income from term deposit
$
2,240.00
$
2,240.00
Dividend Income $ -
Total Income
$
126,640.00
$
43,800.00
$
170,440.00
Expenses $ -
Deductible expenses
$
3,000.00
$
1,000.00
$
4,000.00
Entertainment and holiday
$
15,000.00
Total Expenses
$
18,000.00
$
1,000.00
$
19,000.00

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Net Income/ Taxable income
$
108,640.00
$
42,800.00
$
151,440.00
Tax Payable
$
27,828.80
$
4,674.00
$
32,502.80
Medicare Levy
$
2,172.80
$
856.00
$
3,028.80
Gross Tax Payable
$
30,001.60
$
5,530.00
$
35,531.60
Franking credit $ - $ -
Net income after tax
$
78,638.40
$
37,270.00
$
115,908.40
Adjustments $ -
Living Expenses
$
54,000.00
$
54,000.00
Mortgage and loan repayment
$
18,000.00
$
18,000.00
Expected Cash Surplus
$
6,638.40
$
37,270.00
$
43,908.40
Objectives
The primary objective of the client has been to construct an effective retirement planning
statement that would be instrumental for the couple to have a safe and secured retired life. The
other objective has been reducing the amount of tax that they have to pay and in a way increase
their level of income. The main aim of the client has been to increase their level of income after
retirement and undertake effective investment strategies that would reap them higher returns.
The couple are nearing the retirement age and therefore wants to pay off their mortgage before
retiring and hence has to prepare a plan that would reap the benefits. They even want to maintain
their lifestyle intact even during prolonged illness and would like to go on annual holidays and
support their children who are attaining the maturity age.

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Section 3
This section of the paper tries to evaluate the risk profile and the investment allocation
strategy of the couple that is under consideration in this paper.
The risk requirement of Mr and Mrs Brown includes the cleaning up of the fund which refers
to settling all the debts that have been outstanding that is inclusive of the mortgage. The client
even has the aim of maintaining a lump amount that is essential to give out a significant amount
of common income that would maintain the living of the family and the lifestyle standard for a
specific time period. The couple are even within the idea of developing a significant amount of
money that would be ascertained by computing the cost that is associated with the education of
their children and multiplying the cost with the number of years their children would be
requiring education. The main motive of the client has been to construct effective level of
retirement fund so that the couple can maintain their present standard of living even after
retirement. In order to do so, the couple needs to look into the amount of funding they need to
undertake now.
Risk Profile
Determining your investor risk profile Points
This investor risk profile questionnaire has been designed to help you understand the type of
investor you are, so that with the help of your planner, you can choose the investments that best
match your financial objectives.
Which of the following best describes your current stage of life?
Single with few financial commitments: You are keen to accumulate wealth
for the future. Some funds must be kept available for enjoyment, such as cars,
clothes, travel and entertainment.
50
A couple without children: You may be preparing for the future by
establishing and furnishing a home. There are a lot of things you need to buy.
You are probably better off financially now than you may be in the future.
40

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Young family: This is the peak home purchasing stage. You have a mortgage
and a very small amount of savings. Probably dissatisfied with your financial
position and the amount of money saved.
35
Mature family: You are in your peak earning years and have got the mortgage
under control. Many partners also work and any children are growing up and
have either left home or require less supervision. You are starting to think
about retirement, although it may be many years away.
30
Preparing for retirement: You probably own your own home and have few
financial commitments, however, you want to ensure that you can afford a
comfortable retirement. Interested in travel, recreation and self-education.
20
Retired: No longer working you must rely on existing funds and investments
to maintain your lifestyle. You may be receiving the pension and are keen to
enjoy life and maintain your health.
10
What return do you reasonably expect to achieve from your investments?
A return without losing any capital. 10
3–7% p.a. 20
8–12% p.a. 30
13–15% p.a. 40
Over 15% p.a. 50
If you did not need your capital for more than 10 years, for how long would you be
prepared to see your investment performing below your expectations before you cashed it
in?
You would cash it in if there were any loss in value 10
Less than 1 year 20
Up to 3 years 30
Up to 5 years 40
Up to 7 years 45
Up to 10 years 50
How familiar are you with investment markets?
Very little understanding or interest 10

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Not very familiar Would like to know more 20
Have had enough experience to understand the importance of diversification 30
Understand that markets may fluctuate and that different market sectors offer
different income, growth and taxation characteristics
40
Experienced with all investment sectors and understand the various factors that
may influence performance
50
If you can only get greater tax efficiency from more volatile investments, which balance
would you be most
comfortable with?
Preferably guaranteed returns, before tax savings 10
Stable, reliable returns, minimal tax savings 20
Some variability in returns, some tax savings 30
Moderate variability in returns, reasonable tax savings 40
Six months after placing your investment you discover that your portfolio
has decreased in value by 20%. What would be your reaction?
50
Horror. Security of capital is critical and you did not intend to take risks 10
You would cut your losses and transfer your money into more secure
investment sectors
20
You would be concerned, but would wait to see if the investments improve 30
This was a calculated risk and you would leave the investments in place,
expecting performance to improve
40
You would invest more funds to lower your average investment price,
expecting future growth
50
Which of the following best describes your purpose for investing?
You want to invest for longer than five years, probably to the age of 55–60.
You are mainly investing for growth to accumulate long-term wealth
50
You are not nearing retirement, have surplus funds to invest and you are
aiming to accumulate
long-term wealth
40
You have a lump sum, e.g. an inheritance or an eligible termination payment
from your employer, and you are uncertain about what secure investment
alternatives are available
30

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You are nearing retirement and you are investing to ensure that you have
sufficient funds available to
enjoy retirement
20
You have some specific objectives within the next five years for which you
want to save enough money
20
You want a regular income and/or totally protect the value of your savings 10
Investor profile total points 200
INVESTOR RISK PROFILE SUMMARY
60–120 Conservative — 70% Defensive and 30% Growth
You are a conservative investor. Risk must be very low and you are prepared to accept lower
returns to protect capital. The negative effects of tax and inflation will not concern you, provided
that your initial investment is protected
120–180 Moderately Conservative — 55% Defensive and 45% Growth
You are a cautious investor seeking better than basic returns, but risk must be low. Typically an
older investor seeking to protect the wealth that you have accumulated, you may be prepared to
consider less aggressive growth investments
180–240 Balanced— 40% Defensive and 60% Growth
You are a prudent investor who wants a balanced portfolio to work towards medium to long-term
financial goals. You require an investment strategy that will cope with the effects of tax and
inflation. Calculated risks will be acceptable to you to achieve good returns
240–270 Growth— 20% Defensive and 80% Growth
You are an assertive investor, probably earning sufficient income to invest most funds for capital
growth. Prepared to accept higher volatility and moderate risks, your main concern is to
accumulate assets over the medium to long term. You require a balanced portfolio, but more
aggressive investment strategies may be included
270–300 High growth— 20% Defensive and 80% Growth
You are an aggressive investor prepared to compromise portfolio balance to pursue potentially
greater long-term returns.
Your investment choices are diverse, but carry with them a higher level of risk. Security of
capital is secondary to the potential
for wealth accumulation

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By looking at the risk profile of the couple, it can be said that they are in the opinion of an
investment that would yield them balanced to growth perspective of returns.
The investment allocation and the strategy of the client can be determined by understanding the
level of risk that they are ready to undertake. It is seen that the couple wants to undertake
investments that would be a balance of the equities and debts so that effective returns that can be
attained with the minimum amount of risks. It is seen that
Owner Tax-free
proportion
($)
Investment
option
Average 10
year pre-tax
rate of return
Costs Current
Value ($)
Wayne
HESTA
Industry
Super Fund
(includes a life
and
TPD insurance
cover of
$200,000)
0% Australian
shares
(100%)-
recently
transferred
7.33% p.a Investment
cost.66%
Administration
fee $65. p.a.
$425,000
Karen
HESTA
Industry Super
Fund ( includes
a life and TPD
15% Conservative
Pool
Cash 30%
Fixed interest
5.735 Investment
cost 44%
Administration
cost $65 p.a
$72,000

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insurance
cover of
$200,000)
28%
Property 8%
Australian
shares 13%
International
shares 10%
Alternative
assets 11%
Karen CT
Personal
Superannuatio
n Fund
( includes a life
only cover of
$50,000)
10% Balanced
fund
Cash 15%
Fixed Interest
24%
Property 15%
Australian
shares 305
International
shares 16%
5.9% MER 1.9% p.a
Withdrawal
fee of $100
$48,000
The investment strategy reveals that Wayne needs to reallocate his investment from the
Australian shares and invest a balanced amount into the conservative pool as the couple wants to
ensure a secured return for their retirement. Investment in shares and equities provide higher
returns with a greater deal of risk and therefore it is recommendable to invest in such products

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when someone is planning for investment. Hence, a certain proportion of the investment should
be changed. On the other hand, the investments of Karen have been an effective one as the she
has kept a balance in the investment in the conservative pool along with in the debt investments
like in the cash and in the fixed interests. It is projected that as the clients are in the idea of
maintaining a balanced and growing investment profile and hence the rate of return would vary
from 6.1% to 8%.
Section 4
This section of the report provides strategies and the projections that would be undertaken by the
client in order to incorporate a plan that would lead to effective retirement planning. Wayne is
employed as an assistant manager and therefore has sufficient knowledge about the software
tools and techniques. The appropriate method of explaining the plan for the purpose of
investment should include the current growth rate and several investments so that a comparison
can be undertaken. The amended cash flow has been constructed in order to find out the changes
that would be undertaken by the couple to have better retirement planning.
It is seen that rationale of the client has been to undertake an investment in such products from
the current time period so that effective returns can be attained by paying the minimum amount
of tax. This would be useful in the development of sustainable returns that can sustain the present
lifestyle of the couple even after retirement and the couple would even have sufficient money
sustaining the education of their children. Mr and Mrs Brown are in the idea of attaining benefits
out of the investment plan and want to ensure that they receive the maximum benefits without
paying a huge amount of tax. The couple are in the idea reducing the level of risk and in manner
would maximise their return. Hence, they are looking forward to investments that would provide
significant amount of returns with the lowest amount of risks. Therefore, it is essential for the

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couple to distribute their investments in various investment buckets in order to ensure that they
would receive a minimum amount of return out of the investment even during adverse financial
condition.
In order to receive a higher degree of return, the couple requires investing in equity shares along
with in the conservation pools as it is a good option for them. This is an investment that is in
nature risky but on the other hand less risky with respect to the bonds and debentures. However,
this has been decisions that are completely market driven. The extent of investment in shares
may change according to the market scenario and the anticipated returns.
In order to reduce the expenditure that are avoidable like the expenditure related with the
holiday, lifestyle expenses for the savings leads to the achievement of the long term goals.
The projected cash flow of the organization has been given as follows:
Projected Statement of Cash Flow for the year ended 2017/18
Particulars Wayne Karen Total
Income
Salary
$
122,000.00
$
40,000.00
$
162,000.00
Superannuation contribution
$
425,000.00
$
120,000.00
$
545,000.00
Net Income from Business
$
-
Income from savings
$
180.00 $180
Income from term deposit
$
2,240.00
$
2,240.00
Dividend Income
$
2,400.00
$
2,400.00
Total Income
$
551,820.00
$
160,000.00
$
711,820.00
Expenses
$
-
Entertainment and holiday
$
15,000.00
$
15,000.00

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Deductible Expenses
$
3,000.00
$
1,000.00
$
4,000.00
Total Expenses
$
18,000.00
$
1,000.00
$
19,000.00
Net Income/ Taxable
income
$
533,820.00
$
159,000.00
$
692,820.00
Tax Payable
$
185,145.40
$
26,752.00
$
211,897.40
Medicare Levy
$
10,676.40
$
3,180.00
$
13,856.40
Gross Tax Payable
$
195,821.80
$
29,932.00
$
225,753.80
Franking credit
$
-
$
-
Net income after tax
$
337,998.20
$
129,068.00
$
467,066.20
Adjustments
$
-
Living Expenses
$
54,000.00
$
54,000.00
Mortgage and loan
repayment
$
18,000.00
$
18,000.00
Expected Cash Surplus
$
265,998.20
$
129,068.00
$
395,066.20
Statement Showing Accumulation of Income from shares
Yea
r Opening Balance Growth Accumulated closing
2017 $ 60,000.00 $ 3,600.00 $
2018 $ 63,600.00 $ 3,816.00 $
2019 $ 67,416.00 $ 4,044.96 $
2020 $ 71,460.96 $ 4,287.66 $
2021 $ 75,748.62 $ 4,544.92 $
2022 $ 80,293.53 $ 4,817.61 $
2023 $ 85,111.15 $ 5,106.67 $
2024 $ 90,217.82 $ 5,413.07 $
2025 $ 95,630.88 $ 5,737.85 $
2026 $ 101,368.74 $ 6,082.12 $
2027 $ 107,450.86 $ 6,447.05 $
2028 $ 113,897.91 $ 6,833.87 $
2029 $ 120,731.79 $ 7,243.91 $
2030 $ 127,975.70 $ 7,678.54 $

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Wayne
Statement showing Accumulation and income in Superannuation Account
Year Hesta Industry Super Fund Return
2017 $ 425,000.00 $ 28,900.00
2018 $ 437,750.00 $ 29,767.00
2019 $ 450,882.50 $ 30,660.01
2020 $ 464,408.98 $ 31,579.81
2021 $ 478,341.24 $ 32,527.20
2022 $ 492,691.48 $ 33,503.02
2023 $ 507,472.23 $ 34,508.11
2024 $ 522,696.39 $ 35,543.35
2025 $ 538,377.28 $ 36,609.66
2026 $ 554,528.60 $ 37,707.95
2027 $ 571,164.46 $ 38,839.18
Karen
Statement showing Accumulation and income in Superannuation Account
Yea
r Hesta Industry Super Fund CT Personal Superannuation Fund Return
2017 $ 72,000.00 $ 48,000.00 $
2018 $ 73,900.00 $ 49,900.00 $
2019 $ 75,100.00 $ 51,100.00 $
2020 $ 76,220.00 $ 52,220.00 $
2021 $ 76,220.00 $ 52,220.00 $
2022 $ 161,440.00 $ 137,440.00 $
2023 $ 161,440.00 $ 137,440.00 $
2024 $ 163,440.00 $ 139,440.00 $
2025 $ 163,440.00 $ 139,440.00 $
2026 $ 172,940.00 $ 148,940.00 $
2027 $ 248,660.00 $ 224,660.00 $
2028 $ 264,911.40 $ 240,911.40 $
2029 $ 266,425.80 $ 242,425.80 $
2030 $ 284,191.60 $ 260,191.60 $
The analysis of the future returns indicate that the client would have effective returns that would
make their life after retirement a prosperous one. It is seen that the investments that have been
recommended and the cash flows that have been projected would have an effective level of

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returns for the client and it frequent supervision on the investments will be undertaken in order to
understand the trend in the market and the level of revenue given by the investments so that
according to the demand of the clients, there can be changes in their investment strategies.
Section 5
Recommendations
The numerous recommendations that can be given out to the client can be underlined as follows:
The main aim of the client is to increase their savings for the retirement purpose and to
minimise the taxation level once they reach retirement. Their current condition reveals that if
they continue their present investments, they would be capable of meeting their aim and thus
needs incorporating the strategies in order to maintain of their current lifestyle even after their
retirement.
From the provided information data, it is clear that their anticipated superannuation
account balances during retirement are on the basis of their present situation. This
superannuation account balance would be able to create adequate returns when the couple attain
the age of retirement. It is recommended that they focus on this without delay by undertaking
this recommendation.
It is suggested that Wayne and Karen both continue with the current superannuation
balances as the assessment indicates that they offer numerous fees for consultation, however it is
recommended that they amend their investment choices to be more in effective with their risk
profile that has been identified.
If they still continue in their present asset allocation, along with the additional investment
within the superannuation then they would not be able to achieve their income that they are

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looking for after retirement. It is hence rational for them to commence a little increased level of
risk than what they have currently undertaken in order to have an enhanced probability of
reaching their goals.
As the couple would have a higher additional income, it is recommended that they should
incorporate the savings plan into an increased income gaining cash account to construct a
cushion for exceptional scenarios. It is suggested to maintain a cash barrier and it has been
suggested as an approach that the client with investment and debt and property maintain a barrier
in case of unexpected operating expenditure that may take place, or increase in the rate of
interest on loans
It is recommended to establish an approach to assess their insurances after the
implementation of the approaches in the investment portfolio. Without incorporating this, the
risk evaluation of being under or over insured and potentially incapable to meet their desired
long-term goals and aims if something occurs to anyone of the couple. It is even recommended
that evaluation of the investment portfolio is taken from time to time in order to undertake a
comparison of their earnings in accordance to the market and implement transformations if
deemed essential in accordance to the market in order to sustain their steady earnings. The client
should even sustain adequate money for their children especially for the ones who would be
undergoing education in order to stabilise them financially in case of any unprecedented events
to the couple.

24
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Section 6
It is essential for the client to undertake these implementations in order to improve their
earnings after retirement and Mr and Mrs brown even needs to take advice from the financial
consultants from time to time so that they can undertake further investments and in case of
changing their percentage of investment in various pool of investment baskets. The client even
needs to pay for the ongoing services that the financial consultants would undertake in order to
manage and supervise their portfolios so that effective returns can be maintained.
Section 7
The fees and charges that are associated with the construction of the Statement of Advice and the
financial consultation provided to Mr and Mrs Brown are as follows:
Initial consultation
The preliminary consultation will be free. This is inclusive of the explanation of the financial
scenarios and the aims and probable answers to the financial issues. During this meeting it will
agree whether or not to go ahead with the growth of comprehensive written suggestions.
Written recommendations
If it is accepted then a written statement of advice will be prepared and a fee would be levied for
the construction of the report. The amount charged will be reliant on the level of complexity of
the suggestion and will be based on a hourly rate of $150 (plus GST) per hour. The fee will be
capped normally at a maximum of $3,500 plus GST. Where the capped value is likely to be
surpassed, it would be suggested through writing. The overall fee will be granted with a prior to
the commencement of the written statement of advice.
Implementation of recommendations

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When the client decides to advance with the recommendations, a fee may be charged based on
the length of time taken to incorporate the advices. The fee will change depending on the
difficulty of the recommendations and will be based on an hourly rate of no more than $150
(plus GST) per hour. This will be permitted on with the prior to acceptance of the suggestions.
The client may look to pay this account personally, or have the amount subtracted from the
investment.
Ongoing Advice and Reviews
When the client thinks to move ahead with the advices and after the implementation has been
done in the investments, a fee for continuing advice and reviews will be charged.
Section 8
Disclaimer
The disclaimer of the report states that the recommendations that have been given to the client
needs to be assessed and reviewed from time to time on a frequent basis because such
investments can lead to huge losses due to external market factors and internal factors. Hence,
this is a warning that the suggestions provided may turn out to be ineffective due to the turn of
events. The financial consultant would not be liable for the instances and hence proper
surveillance needs to be done in the investment market before incorporating the investments. It is
even advisable to read to the offer documents of the products before undertaking an investment.