Financial Planning 1

Financial Planning 1
Working paper
FSG and adviser profile
Tristen and Zoey were handed Financial Services Guide (FSG) version 5 010221 and my
Adviser Profile at the interview on 1 May 2021. The FSG was explained to them and they
both agreed to proceed.
Scope of advice
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, social security and estate
planning. Clients advised on the risks of not receiving advice in these areas.
Current situation
Your personal profile Tristen Zimmerman Zoey Smith
Date of birth 22 April 1996 2 February 1997
Current age 25 24
Marital status De-facto De-facto
Residency Status Australian resident Australian resident
Residential address 32 Wattle Street, Victoria point
QLD
32 Wattle Street, Victoria point
QLD
Telephone [phone] 254 513
Email address TristenZimmerman@hotmail.c
om [e-mail]
Employment status Employed full time Employed full time
Dependents Current age & date of birth
0 0
Your health Tristen Zimmerman Zoey Smith
Current health Pretty healthy Pretty healthy
Pre-existing medical conditions? None None
Member private health fund Bupa None
Smoker? No No
Family history considerations? Prostate cancer Heart attack
Lifestyle Assets Owner Value
Car Tristen $18,000

Financial Planning 1
Car Zoey $12,000
Home contents Joint $20,000
Subtotal $50,000
Financial Assets – Non-Super Owner Value
Online saver account Tristen $5,000
Joint high interest account $17,000
Subtotal
Financial Assets – Super Owner Value
Sunsuper -Lifecycle accumulation fund Tristen $37,260
Hostplus -Balanced accumulation fund Zoey $35,890
Subtotal $73,150
Assets Total $
Liabilities Owner Limit
Amount
outstandin
g
Interest
rate
Repaymen
t
Credit card Zoey $5,000 $800 22% $880 /
mth
Liabilities Total $800
Net Worth (Assets – Liabilities) $800
Client Income $
Tristen Full-time Electrician with Sparky Electrical + 9.5%
Super $65,000
Zoey Full-time Planner with the Redlands City Council +
12% Super $50,000
Income Total $115,000
Expenses – N/A for this assignment
Estimated Cash Surplus / (Deficit) per month $x
INSURANCE
Owner Insurance
Type
Insurance
Provider
Benefit
Amount
Waiting
Period
Benefit
Period Premiums
Both
Comprehen
sive car
insurance
Budget
direct
Tristen
Private
health
insurance
Bupa
Tristen Sunsuper $100,000
$100,000

Financial Planning 1
Potential issues / special consideration
 x
Objectives
 x
Risk profile
 x
Wealth creation & lifestyle recommendations – outside superannuation
1. Goal[wedding/honeymoon]
Recommended strategy:
 SIPs (Systematic investment Plan)
Advantages of strategy [reasons why]
Protected from market changes -
Perhaps the most important and surprising benefit of SIP is that it saves you from a
market vacation.
The highs and lows always appear in business segments, but still on the off chance that
you're not doing SIP, that means you're actually investing in all of the good and bad
times in the market.
So, in the end, your purchase costs are considered an external value. Furthermore, it
may happen that you are not supported for at least 15-20 years.
Small investment -
In India SIP can be done with at least 1000. Plus, trust me, it's not very close to our₹
standard RD estimate.
Most importantly, increase your assets by £ 1000 across numerous organizations by
expanding your portfolio with your shared fund manager.
You can also start and SIP in ELSS classification with 500. I recommend that you₹
support SIP in ELSS. Trust me as profitable as all other profit options.
Freedom of evaluation -
This is a positive development from the Government of India that you will receive a cost
exception on the opportunity not to contribute resources to ELSS which is a value
savings plan.
Expert opinion -