Financial Planning Interview Transcript Analysis: Case Study

This assignment presents a transcript of a financial planning interview between a financial advisor and a couple, Johnny and Julia Wilson. The interview covers their financial situation, including their income, debts, and financial goals. The couple expresses their desire to invest their surplus income, clear debts, buy a new home and car, and save for their children's education. They also aspire to travel. The advisor asks questions to understand their needs and offers to help them achieve their financial dreams by building an investment and financial plan. The advisor's approach involves understanding the clients' current financial position, gathering data, and providing recommendations. The transcript highlights the initial stages of the financial planning process, including building rapport, gathering financial data, and setting financial objectives. The assignment provides a practical example of how a financial advisor interacts with clients and discusses their financial aspirations and concerns.

Part 2
TRANCRIPT
Advisor: Welcome Julia and Johhny. You are from Melbourne?
Johhny: Yes we do
Advisor: How do you find life over there?
Julia: Good, we enjoy.
Advisor: Are you originally the residents of that city?
Julia: Johhny was but I moved in from Auckland.
Advisor: I have longed to visit your city and I would love to come soon. If I came visiting what would you
recommend that I see?
Johhny: There are lots of interesting places to visit like Queen Victoria Market, Federation Square and
Puffing Billy Railway.
Julia: Royal Botanic Gardens Victoria is a nice place also to visit. We would be glad to see you in our city.
Advisor: Thanks Julia and Johhny for having come to meet with me. You have indicated that you have
interest in meeting a financial advisor. Well you’ve done well to come here, this is the right place. I assist
my clients like you to achieve their financial goals through prudent management of investments and
good financial planning. The financial situation of my clients improves drastically after co-working with
me. I believe I am able to do the same for you.
During this meeting I will cover your needs and let you know what I offer and see whether we shall be
able to work together.
I will touch on some important issues in this meeting so I encourage you to take notes if you don’t mind.
I hope you wouldn’t mind also if I asked you a few questions for me to know you better.
Johhny: Please go ahead
Juia: I love answering questions
Advisor: Please tell me a little more about yourselves.
Johhny: Well, you already know my name. I am a doctor by profession and I am working as a general
practitioner. With me is my wife Julia who is a speech pathologist. We have lived in Melbourne city for

over ten years now. My wife and I were born and brought up by strict evangelical teetotaler parents. So,
I can proudly say we inherited some good discipline, including being teetotalers too like our parents.
Advisor: That is great. It looks like you will be a perfect team for me to work with.
Julia: Yea, we shall co-operate with you. We need your assistance.
Advisor: You have shown interest in improving the state of your standing financially; I wonder what has
motivated you to think that way.
Johhny: We have reasonably good income and each month we have a surplus after meeting our
obligations. We are not sure where to invest this surplus.
Julia: And we are still young and we have set goals which we must achieve in a few years to come by
investing now.
Advisor: It is apparent that you would like lay a good financial foundation for your future. Is that right?
Julia: Correct
Advisor: What are some of the financial dreams that you have?
Johhny: We have short, medium and long term plans for ourselves and family. We need to clear all our
debts, buy a new home and family car, have a long term plans to send our children to private secondary
schools. It is our dream to invest in high yielding schemes with quick returns because we intend to buy
our new home without entering into mortgage schemes. I wonder if that one is a far-fetched dream! We
value education of our kids very much and we would also like to start saving early to enable us to send
them to private secondary schools where we hope they will get good education to enable them to join
top class universities.
Julia: I would prefer our kids to study in private secondary schools, they are very expensive, but that is
why we are here to get your advice. One of our hobbies is travelling. At the moment we do not travel
much because of the condition of our car. We need a new family car to enable us make whistle-stop
interstate exploits .We are also aspiring to travel overseas for at least ten weeks at one time in the
future.
Advisor: Those are good dreams. Out of curiosity, how is your financial situation at the moment?
Johhny: As I mentioned earlier we have some surplus at the end of every month.
Advisor: What would you like that surplus to do for you? I believe that good financial planning and
sound investment strategies assist clients to live better and organized lives. They relax with the
knowledge that the future has been planned for them. Is that sensible to you?
Johhny and Julia: Yes.

Advisor: Some time ago, I had a client who was in similar situation like yours. He had steady income and
enjoyed fat surpluses but he had no idea what to do with the surplus to afford him more income. After
seeking my advice and choosing to work with me, George is now very successful and reaping the fruits of
his investments. Would you like to be as successful as George?
Johhny and Julia: Yes, very much
Advisor: Based on the information you have given me, I am confident I can assist you. Now that we are
working together, this is how I will help you to successfully achieve your dreams. I will:
Build an investment and create a financial plan based on the information you have provided in the forms
you have filled. This arrangement will take care of your financial matters and wealth issues which
normally give you sleepless nights.
Julia: Oh, thanks.
Advisor: What have you heard being said about financial planning and process?
Johhny: I think we have heard quite a lot and I have even discussed this subject a number of times with
my wife but we do not know much about it.
Advisor: Your financial planning process has already begun. I have already developed a relationship
with you and I have gathered financial data about you and known your goals. I am now going to evaluate
and analyze your current financial position and then provide you with recommendations. I will do that
during our next appointment.
Johhny: We appreciate.
Julia: Thank you very much.