Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Save to My Library
Look up keyword
Like this
58Activity
0 of .
Results for:
No results containing your search query
P. 1
Statement of Advice

Statement of Advice

Ratings:

5.0

(1)
|Views: 28,480|Likes:
Published by Peter Proksch
This is my Statement of Advice (SOA) which was one of my assignments for my Diploma of Financial Services. Kaplan Professionals graded this paper with outstanding results.
This is my Statement of Advice (SOA) which was one of my assignments for my Diploma of Financial Services. Kaplan Professionals graded this paper with outstanding results.

More info:

Categories:Business/Law, Finance
Published by: Peter Proksch on Mar 24, 2010
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as DOC, PDF, TXT or read online from Scribd
See more
See less

08/09/2013

pdf

text

original

 
Statement of Advice
Prepared for 
Mr. Walter Gannon
Prepared by
Tracy Burton
Authorised Representative Number: 15326128 Cemex St.,Turramurra NSW 207402 9440 5555Authorised representative of 
Burton Financial Planning Group
ABN: 65 001 232 232Australian Financial Services LicenseeLicense No. 16029Head Office: Level 26, 1 Carlyle St.,MELBOURNE VIC 300012 February 2010You are entitled to receive a Statement of Advice (‘SOA’) whenever we provide you withany personal financial advice. Personal advice is advice that takes into account your goals,objectives, financial situation and needs.This SOA is a report of the personalised financial advice provided to you and includesinformation on the basis on which this advice is given, information about fees andcommissions and any connective information which might influence the advice.If this advice includes a recommendation to you to acquire a particular financial product(other than securities) or an offer to issue or arrange the issue of a financial product to you,we will also provide you with a Product Disclosure Statement containing highly detailedsupportive information about the particular product to help you make well informeddecisions about the product.Be aware that the advice contained in the following SOA is valid for a period of 30 daysonly. If the plan is not implemented within this time, it will no longer be current and will needto be reviewed for accuracy.
February 2010Page 1
 
Statement of Advice
Table of Contents
Executive Summary ………………………………………………………………………………………....3
Summary of our recommendations………………………………………………………………………..3Summary of expected outcomes if you implement our advice…………………………………….…...3Risks in our advice………………………………………………………………………………………..…4Summary of our fees and commissions……………………………………………………………….…..4Your next step……………………………………………………………………………………………..…4
Important information about you………………………………………………………………………..…5
Your reasons for seeking us………………………………………………………………………………..5What you would like to achieve………………………………………………………………………….…5
 Your personal and financial information………………………………………………………….……...6
Personal information………………………………………………………………………………………...6Your existing insurance……………………………………………………………………………………..6Your existing estate planning……………………………………………………………………………....6
Financial Information……………………………………………………………………………………..….7
Current income and expense details……………………………………………………………………....7
 Your risk profile…………………………………………………………………………………………….....8Strategy recommendations…………………………………………………………………………………9
Recommended action – after one year…………………………………………………………………...9Reasons for recommendation – first year………………………………………………………………..10Things you should consider………………………………………………………………………………..11
Investment product recommendations……………………………………………………………….…12Recommended asset allocation…………………………………………………………………………..13Disclosure of commissions, fees and benefits…………………………………………………….…..14Ongoing services…………………………………………………………………………………………....15Authority to Proceed…………………………………………………………………………………….….16SOA Appendix 1 Cash flow projections after one year – No implementation of strategy……..18SOA Appendix 2 Cash flow projections after one year – After implementation strategy………21SOA Appendix 3 – Cash flow projections……………………………………………………………….24
February 2010Page 2
 
Executive summary
Summary of our recommendations
For the short term - up to one year 
I recommend that:
You pay off your personal debt including the car loan and mortgage of $242000.
You open a high yielding savings account and place $15000 within as an emergencyfund.
You set up Family Tax Benefit B.
You see a solicitor to update your Will.
For the medium term - one to five years
Invest $40000 in a balanced managed fund, and then be accessed in 4 years whenChloe begins her high school studies.
Invest $50000 in a growth managed fund for the build up of retirement wealth.
For the long term - ten years+
Invest $80000 in a growth investment bond which can be accessed in 10 yearswhen Chloe begins her university studies.
Maintain current super arrangements and review in 12 months time.
Maintain general and personal insurance and private health cover.
Maintain existing share portfolio of $40000.
Summary of expected outcomes if you implement our advice
If you decide to follow through with the recommendations of this report, we estimate thatyour daughters’ education funds should grow over time and meet the financial needs to payfor their high school and university studies.Your personal debts being paid off and setting up your high savings account will generatefurther savings. This will allow you to enjoy the lifestyle you require with minimum worry.The growth managed funds and your existing share portfolio will grow over time while stillbeing accessible. This will help you achieve your retirement goals.You will have effective insurance and health cover in the unlikely events of death, sicknessor injury.Your updated Will can protect your family in the case of unlikely events.
February 2010Page 3

Activity (58)

You've already reviewed this. Edit your review.
1 hundred reads
1 thousand reads
Justice2 liked this
Ha Thuy Nguyen liked this
mjol_144118906 liked this
Paula Stoodley liked this
mjol_144118906 liked this
Cördy Chiang liked this
Emma Chesworth added this note
I am doing an assignment very similar to this one at the moment. Can anyone help me by uploading docs that would be helpful? Please!
krith added this note
Hi, Nice and crispy statement. Just now I completed Foundations of financial planning both exam and assignment. It will be more helpful for the students.Have you started studying secong module?

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->