FINANCIAL PLANNING 16 FINANCIAL PLANNING Financial Planning Author's Note: Covering Letter Louis and Larissa Edberg
Added on 2020-05-28
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Finance
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Running head: FINANCIAL PLANNINGFinancial PlanningName of the Student: Name of the University:Author’s Note:
1FINANCIAL PLANNINGCovering Letter Louis and Larissa Edberg Address Line: 22 Curve Street Hill Rise Victoria 3888Dear Louis and Larissa, I am highly obliged that you have given me the opportunity to have a meeting with you andforward with the recommendations that have been framed in accordance to the informationthat have been forwarded to me. These data would be helpful in undertaking investmentseffectively and the income and the returns that would be received will be helpful inimproving your lifestyle and even life after post retirement. The Risk Profile answers and the Fact Finder provided during the meeting has been veryhelpful in as an effective knowledge about the current goals, objectives and the currentscenario that is existent and the mindset towards security, returns, risks and volatility. The results that would be gathered can be used for the purpose of framing the SoA. Thisreport would act as a record that can be taken as an advice by you and your family therebywould be helpful in attaining the individual circumstances and goals that even includes thefees, interests and any other costs that have an influence over the advice. In case there are any transformations in the lifestyle with the advent of time then, additionaladvices can be given with the help of which the sustainable lifestyle can be maintained. Itherefore look forward to help you in any other advices and incorporation of the strategiesand the plans and thereby able to provide continuous assistance and services. The services
2FINANCIAL PLANNINGand the recommendations that have been given are in compliance with the requirements ofASIC. Regards John Johnson Signature Financial Adviser
3FINANCIAL PLANNINGExecutive Summary The executive summary is actually a small synopsis that would be provided to thecouple by the financial consultant. The summary is actually the scenario, the goals andobjectives and the strategies that would be suggested thereby able to meet the goals andobjectives. The optimum result for the couple can be projected from the strategyimplementation and technique that has been used. The couple requires understanding andgoing through the executive summary and gain effective understanding about the advices thathas been provided and being able to ascertain whether the goals and objectives have beenattained. There is adequate information which would permit the couple to undertake decisionsby observing the risks that are associated to it. The associated fees are even disclosed. Theinformation that has been provided in jotted down in a clear language with an absence of anyterminology and is suitable to their extent of the financial knowledge. Personal Situation By assessing the present condition, Louis and Larissa Edberg are married for a longtenure and are both 48 years old. They have their home in Victoria and have two dependentchildren Michael and Meena. Louis and Larissa have been working full time and earnsignificant amount of money Louis has a yearly income of $ 180,000 and on the other handhis wife Larissa has an annual income of $ 30,000. The couple, each one of them have superlife contribution that have a current value of $300,000 for Louis and $50,000 for Larissaeach. The house they reside in has existing mortgage and they have the idea of repaying theirmortgage before they retire. The couple have a holiday home for themselves where theyreside on family vacations and this holiday home has an existing mortgage as well. Thecouple have the idea of using their holiday home for investment purpose if they desire. Thecouple are aged 48 years and therefore have nearing the age of retiring and therefore they are
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