Assessment Brief – Level Five Undergraduate

Programme: BA (Hons) Finance and Investment Management

Module Code: AF5007

Module Title: Personal Finance and Wealth Planning – Component 2

Distributed on: Week 1 Semester 2

Submission Time
To be submitted by 12 noon on (TBC).
and Date:

Word Limit: N/A

Weighting This component accounts for [ 60 ]% of the total mark for this module

Submission of It is your responsibility to ensure that your assignment arrives before the
Assessment submission deadline stated above. See the University policy on late submission
of work (the relevant extract is set out below).
Please note that assignments are subject to anonymous marking.
Electronic Management of Assessment (EMA): Please note if your assignment is
submitted electronically it will be submitted online via Turnitin by the given deadline.
You will find a Turnitin link on the module’s eLP site.

Instructions on Assessment:

The Vine Family

Background

Fergus and Felicity Vine live in the North East of England. They own a house valued
around £390,000 and this is owned as a beneficial joint tenancy. They have been
married for 20 years and have no children together. Fergus has one 26-year-old son,
Ethan, from a previous marriage.

Fergus is 57 and in good health. He married at 21 but divorced at 35, when he then
met Felicity. He had a clean-break settlement and his ex-wife has no claim on his
finances.

Fergus’s father is still alive and lives 10 miles away in his own property in Newcastle.
He is a widower and at 84 still lives on his own. He has a number of health issues
which are currently managed well. The property owned by Fergus’s father is valued
at £270,000 and he has written a will that leaves this to Fergus and his sister Gillian.
Gillian emigrated to Australia some years ago and now has Australian citizenship.
Fergus is aware that any future care responsibilities for his father will likely fall
primarily upon him and Felicity as his sister lives so far away.

Felicity’s parents are a little younger. Felicity is 51 and her parents are in their mid-
seventies. They are both in reasonable health. They live in the South East of England
in a small village on the outskirts of the city of London. They own a large house that

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Assessment Brief – Level Five Undergraduate

has a current market value in the region of £1,300,000. They also have some jointly
held cash based investments amounting to £205,000 and ISAs of £48,000 each. On
the first death, Felicity’s parents would like to leave the remainder to the surviving
partner. On second death they would like to leave as much of this as possible to
Felicity and her younger sister Georgina upon their death. They are very keen that
the “tax man should not have any of Felicity and Georgina’s inheritance” but do not
know much about inheritance tax. They are aware they may have to pay tax but
would like to mitigate this where possible. Felicity’s sister Georgina is unmarried with
one eleven-year-old son James, Felicity’s nephew.

Employment and Pensions

Fergus worked for a private company in the North East from the age of 16 to 35,
when he was made redundant. He contributed to a defined benefit pension scheme.
He has 19 years of pensionable service and is due to receive his full pension benefits
in 2022, when he will be 60. His latest statement indicated his annual pension to be
£21,220 per annum in addition to a compulsory tax-free lump sum of three times this
amount. This figure will increase in line with inflation. The total transfer value of his
pension is £675,000. He no longer contributes to this scheme.

Fergus now works for the National Health Service with an annual salary of £29,750.
He contributes to a public sector defined benefit scheme. Based on benefits accrued
to date, his latest statement predicted an annual pension of £7,750 and a tax-free
compulsory lump sum of three times this amount. This is also payable in full when he
is 60. Fergus does not anticipate that his salary will change significantly between now
and when he intends to retire at 60 and therefore for the purposes of planning for
retirement, he bases any plans on these figures. Fergus is a keen amateur
sportsman and would love to have more time to devote to training and competing so
is very keen to retire as soon as financially possible. Fergus’s death in service benefit
(life assurance) is £55,500 and a survivor pension would be payable to Felicity in this
event.

Felicity is a Senior Lecturer at a local University. She has two pension schemes. She
is a member of the teacher’s pension scheme. She contributes 10.2% of her annual
salary of £51,700 to this. She is unsure how much her annual pension will be when
she retires. She is aware that she has options in relation to the age she can retire
from education and the size of the lump sum relative to the annual pension she can
choose to take. She thinks that her pension provides for Fergus in the event of her
death but is not quite sure. Her full pension will be payable at 67 but the scheme
allows members to retire earlier than this but this has consequences to the pension
payable.

Felicity particularly wants to know what her potential pension and lump sum would be
at 60 and 67. She loves her job but does not want to be too old when she retires,
especially as Fergus is older than her.

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Assessment Brief – Level Five Undergraduate

When Felicity was much younger, she was sold a private defined contribution
pension. The total fund value is currently £79,680. She has not contributed to this
scheme for many years but still receives her annual statement showing how the fund
has grown. By the age of 65, this fund is forecast to be able to buy an annual annuity
of around £3,000 per annum. Felicity is a bit disappointed with this value.

Both Fergus and Felicity are due to receive a full state pension at the age of 67.

Fergus and Felicity have heard about the 2015 pension freedoms in the media. They
have discussed how it would be useful to access their pension funds for various
purposes, including paying off the remainder of their mortgage. They have heard that
the reforms allow individuals to access their pensions at 55 but do not know much
else about the changes. Fergus has heard that it is possible to transfer his defined
benefit schemes to a defined contribution scheme to take advantage of the reforms
potentially allowing him to retire even earlier than he intends to.

Property and other assets

Fergus and Felicity have a joint repayment mortgage with Santander that they took
out years ago. The current outstanding balance is £15,000 with around two years
until the total sum is fully repaid. They currently repay £850 per month.

They have contents and buildings insurance but have no other insurance policies,
other than those already mentioned and car insurance on their two cars.

Felicity owns a small house in the south of England that she bought when she was
26. She bought the house at the end of June 1995 for £67,000. She lived in it for 5
years but then moved away and just used the flat as an additional base when she
visited her parents. She has recently put it up for sale for an asking price of
£250,000. She does not know if she will have to pay tax on this capital gain. Felicity
also has a painting that she was bequeathed by her grandparents that she intends to
sell at auction this year. The probate value was £7,000 and she has been advised by
an expert that it is now worth £23,000 and she hopes to realise this. Once both
assets have been sold, she wants to use some of the money to build a fund to help
provide a university education for her nephew James, as well as to help him with a
small house deposit to buy a property in the future. She wishes to earmark £40,000
for this purpose. It is unlikely that Felicity’s sister Georgina will be able to help and
Felicity is keen that James should not start life in too much debt. As such, she would
like to develop a portfolio of investments to grow her money. She is happy to take on
some risk but does not want to have to do much to manage the portfolio, as she is
very busy.

Fergus was left £18,000 by his grandfather, when he passed away seven years ago.
This is invested into £8,000 premium bonds, £3,500 cash ISA and the remainder in a
savings account with a local building society. He has had one £25 win and made very
little interest over the last seven years. Felicity has suggested he invests in

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Assessment Brief – Level Five Undergraduate

something that will give a better return but Fergus is inherently risk averse. He has
however thought that he may be willing to take on a little more risk.

Estate planning

Fergus and Felicity do not have a will. Both would like each other to inherit their
assets when they die and have assumed this will happen. After both deaths, they
would like Ethan and James to be provided for equally. They are not really sure if
they need a will and both admit to knowing very little about them or the
consequences of dying intestate. They are also concerned on the impact of ill-heath
and making sure that if they are unwell, the other can make decisions for them.

Ethan

Fergus’s son Ethan lives with his mother. He has been saving for a deposit so that he
can move out and buy a property locally. He is not sure on how to proceed. He has
saved £6,000 with the help of grandparents. His gross salary is £26,000 per annum.

Other Liabilities

Fergus and Felicity have a car loan. They had to buy a car two years ago for
£13,500, which they financed with a car loan paying £205 per month and this will not
be padi off for another three years.

Felicity has £9,700 on a credit card. She only pays the minimum balance off this
each month.

Income and expenditure

Fergus and Felicity have an approximate monthly net income of roughly £4,800.
They do not wish to substantially change their lifestyle.

Assessment Tasks

You are to write a client report (2500 words) for the Vine family that covers the
following:

1. A financial plan for Fergus and Felicity. (60 marks- see below for
allocation)

You should make a judgement about the timescale of this plan, taking into
consideration the financial milestones and factors mentioned in the case study.

It should include:

a. A clear breakdown of the couple’s objectives over the short, medium and long
term. You should clearly show a financial plan that models the likely changes in
the couple’s financial situation from now until the years to retirement, taking into

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Assessment Brief – Level Five Undergraduate

account all of the information in the scenario (you may use excel for this and
include as an appendices). You need to determine the key milestones that will
change the couple’s income and expenditure between now and retirement and
model how these will change their overall financial position. You should consider
at least two alternative scenarios you judge possible given the ages of both
Fergus and Felicity and their possible retirement ages. (Please note you are not
required to re calculate the current net pay of the couple and should use the
approximate estimate of joint net income in any projections).

10 marks
b. Specific advice regarding the 2014/15 pension reforms. You should make clear to
the couple to which pensions they are relevant and what options the couple have
as a result. You must provide specific recommendations for Fergus as to the final
salary scheme transfer, including the advantages and disadvantages of
transferring his defined benefit scheme to a defined contribution scheme.

10 marks

c. Advice regarding any issues mentioned in the case study in relation to capital
gains and inheritance taxation (provide supporting calculations), estate planning
and care planning (please note that Fergus and Felicity would like to know what
the potential impact of care costs could be on their future inheritances). You are
expected to use 2020/21 tax year in calculations.

16 marks
d. Based upon the couple’s risk profile, recommend two separate investment
portfolios for Fergus and Felicity. You should consider the funds available, clearly
showing where these funds have come from (exclude pensions from this). You
should also attempt to model the performance of the portfolio and whether or not
it is likely to achieve the goals you stated in part a (you may ignore inflation or
justify your assumptions with regards to growth rates and inflation).
16
marks

e. Provide mortgage advice to Ethan. You should identify appropriate mortgage

options and comment on their affordability as well as advising Ethan about other
costs (both one off and continuing) of buying a property. You should calculate
Ethan’s net pay and suggest a possible monthly budget that may help Ethan
manage his money in the first year.
8 marks

You should state any assumptions that you make, but you need to ensure these are
from robust sources. You need to identify any information that you would need to
seek clarification on from Fergus and Felicity. You are the financial advisor and you

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Assessment Brief – Level Five Undergraduate

should treat the information in the case as if it has been gathered from a first client
meeting. Additional information and calculations should be included as appendices.
However, these must relate specifically to the case study and support the financial
plan you produce. Appendices or tables are not included in the word count.

You must base any calculations on the 2020/21 tax year.

Please note this is not an essay, it is a report for the client. You should write to the
client in the report. You need to ensure that any sources are referenced in text and at
the end in ‘references’. You should use appropriate sections and clearly show this in
a table of contents at the start of the report.

- Total 60 marks

Late submission of work

Where coursework is submitted without approval, after the published hand-in deadline, the
following penalties will apply.

For coursework submitted up to 1 working day (24 hours) after the published hand-in
deadline without approval, 10% of the total marks available for the assessment
(i.e.100%) shall be deducted from the assessment mark.

Coursework submitted more than 1 working day (24 hours) after the published hand-in
deadline without approval will be regarded as not having been completed. A mark of zero
will be awarded for the assessment and the module will be failed, irrespective of the
overall module mark.

These provisions apply to all assessments, including those assessed on a Pass/Fail basis.

The full policy can be found here.

Word limits and penalties

If the assignment is within +10% of the stated word limit no penalty will apply.

The word count is to be declared on the front page of your assignment and the assignment
cover sheet. The word count does not include:

 Title and
Contents  Reference list  Appendices
 Appropriate
page
tables, figures
 Quotes from
and illustrations
 Glossary  Bibliography interviews and
focus groups.

Please note, in text citations [e.g. (Smith, 2011)] and direct secondary quotations [e.g. “dib-
dab nonsense analysis” (Smith, 2011 p.123)] are INCLUDED in the word count.

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Assessment Brief – Level Five Undergraduate

If this word count is falsified, students are reminded that under ARTA this will be regarded as
academic misconduct.

If the word limit of the full assignment exceeds the +10% limit, 10% of the mark provisionally
awarded to the assignment will be deducted. For example: if the assignment is worth 70
marks but is above the word limit by more than 10%, a penalty of 7 marks will be imposed,
giving a final mark of 63.

Students must retain an electronic copy of this assignment (including ALL

appendices) and it must be made available within 24hours of them requesting it be
submitted.

Note: For those assessments or partial assessments based on calculation, multiple choice
etc., marks will be gained on an accumulative basis. In these cases, marks allocated to each
section will be made clear.

The full Word Limit Policy is available here.

Academic Misconduct

The Assessment Regulations for Taught Awards (ARTA) contain the Regulations and
procedures applying to cheating, plagiarism and other forms of academic misconduct.

The full policy is available at here

You are reminded that plagiarism, collusion and other forms of academic misconduct as
referred to in the Academic Misconduct procedure of the assessment regulations are taken
very seriously by Newcastle Business School.  Assignments in which evidence of plagiarism
or other forms of academic misconduct is found may receive a mark of zero.

Mapping to Programme Goals and Objectives:

This assessment will contribute directly to the following Undergraduate programme goals and
objectives.

1. Knowledgeable about the theory and practice of responsible business and management in
an international context
Objectives, Students will be able to:

x 1. Apply knowledge of contemporary professional practice in business and management

informed by theory and research.

x 2. Apply knowledge of business and management to complex problems in professional

practice in order to identify justifiable, sustainable and responsible solutions.

2. Intellectual/Professional Skills and abilities

Objectives, Students will be able to:

x 1. Apply effective interpersonal communication skills and the ability to work in multi-cultural
teams.

2. Produce evidence of self-reflection as a means of informing personal development

planning

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Assessment Brief – Level Five Undergraduate

x 3. Demonstrate skills and attitudes for progression to post-graduate contexts including

professional work, entrepreneurship and high-level study

3. Personal Values Attributes

Objectives, Students will be able to:

1. Develop an awareness of the cultural and ethical context in which international business
x operates.

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Assessment Brief – Newcastle Business School

Assessment Criteria (NBS)

General Assessment Criteria

Trait 0 - 29 30 - 39 40 - 49 50 - 59 60 - 69 70 - 79 80 - 100
Knowledge and Unable to grasp Some elements of Basic knowledge-and Work is relevant, The knowledge base Thorough knowledge Exceptional
Understanding concepts, or to knowledge apparent understanding of however, confusion is judged sound and and understanding comprehension of
present facts in a but question/s subject shown. shown at times. relevant. demonstrated. knowledge
relevant way. inadequately demonstrated.
addressed.
Structure and Often inarticulate and Poor structure. Work can lack focus, Over reliance on Material is well Fluent and focused. Sophisticated skill
Alignment can be Content often and is prone to description rather presented and Shows ability to shown in formation of
incomprehensible. irrelevant. unsubstantiated than analysis. organised. contextualise relevant argument or
assertion or logic. Perhaps some Occasionally, knowledge and analytical reasoning.
evidence of conclusions are sustain a relevant
unstructured reached on the basis argument or logical
argument or illogical of insufficient reasoning.
reasoning. information.

Module Specific Marking Criteria

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Assessment Brief – Newcastle Business School
You produce an exemplary financial plan
that includes the all changes to the couple's
income and expenditure from now until
and into retirement based on the case information.
All of the information in the case is
considered and further research underpins
the plan presented, which is totally accurate and
evidenced.
Assumptions made are stated and extensive
scenario analysis is used to
reflect any choices the couple may be
required to make and recommendations given.
Exemplary communication and planning are
evident.
9-10
You show exemplary knowledge of the pension
reforms and apply it accurately to the case.
It includes accurate advice and information
in relation to the 2015 pension
reforms and how this relates to all of the
pensions and choices mentioned in the case.
Your recommendation is both possible
and financially sensible for the clients.
15-16
Your advise is well reasoned,
well researched and evidenced clearly.
You give exemplary detailed advice in relation to the
making of a will and the implications of
death intestate.
You consider IHT and CGT issues fully, showing fully
accurate calcs as well as exemplary planning advice.
This is all fully accurate and considers legislation changes
Your advice is tailored specifically to the
client and considers a range of outcomes
where this is relevant.
15-16
You recommend an exemplary investment
portfolio that is clearly demonstrated
to be suitable for the stated purposes.
Your choice of investments is well justified
and thoroughly researched and
this is clearly evidenced.
Your portfolio reflects the requirement to
minimise tax liability and assumptions are
stated. Figures are fully detailed and accurate.
You explain investment choices in a clear and
accessible way to the client.
You clearly justify any changes that should
be made to any existing investments.
Significant scenario analysis and financial modelling has
been demonstrated that is accurate and shows research
8 7
You use all of the relevant information given to
give exemplary realistic advice to the
recipient.
You build a realistic assessment of financial
position and affordability of objectives that is fully costed.
You support your advice with evidenced
research and assumptions are stated.
All tax implications are accurately assessed
More than one alternative has been considered.
You produce an outstanding financial plan
that includes the all changes to the couple's
income and expenditure from now until
and into retirement based on the case information.
All of the information in the case is
considered and further research underpins
the plan presented, which is mainly accurate and
evidenced.
Assumptions made are stated and where
necessary scenario analysis is used to
reflect any choices the couple may be
required to make and some recommendations.
Outstanding communication and planning are
evident.
8 7
You show outstanding knowledge of the pension
reforms and apply it accurately to the case.
It includes accurate advice and information
in relation to the 2015 pension
reforms and how this relates to all of the
pensions and choices mentioned in the case.
Your recommendation is both possible
and financially sensible for the clients.
13-14
Your advise is well reasoned,
well researched and evidenced clearly.
You give outstanding detailed advice in relation to the
making of a will and the implications of
death intestate.
You consider IHT and CGT issues fully, showing fully
accurate calcs as well as outstanding planning advice.
This is all fully accurate with some legislation impacts.
Your advice is tailored specifically to the
client and considers a range of outcomes
where this is relevant.
13-14
You recommend an outstanding investment
portfolio that is clearly demonstrated
to be suitable for the stated purposes.
Your choice of investments is well justified
and thoroughly researched and
this is clearly evidenced.
Your portfolio reflects the requirement to
minimise tax liability and assumptions are
stated. Figures are detailed and mainly accurate.
You explain investment choices in a clear and
accessible way to the client.
You clearly justify any changes that should
be made to any existing investments.
Scenrio analysis has been attempted and this is mainly Some scenario analysis may be attempted.
accurate and shows research although modelling limited
You use all of the relevant information given to
give outstanding and realistic advice to the
recipient.
You build a realistic assessment of financial
position and affordability of objectives that is fully costed.position and affordability of objectives.
You support your advice with evidenced
research and assumptions are stated.
All tax implications are accurately assessed
More than one alternative has been considered.
You produce an excellent financial plan
that includes the all changes to the couple's
income and expenditure from now until
and into retirement based on the case information.
All of the information in the case is
considered and further research underpins
the plan presented, which is mainly accurate and
evidenced.
Assumptions made are stated and where
necessary scenario analysis is used to
reflect any choices the couple may be
required to make and some recommendations.
Excellent communication and planning are
evident.
You show excellent knowledge of the pension
reforms and apply it accurately to the case.
It includes accurate advice and information
in relation to the 2015 pension
reforms and how this relates to all of the
pensions and choices mentioned in the case.
Your recommendation is both possible
and financially sensible for the clients.
12
Your advise is well reasoned,
well researched and evidenced clearly.
You give excellent detailed advice in relation to the
making of a will and the implications of
death intestate.
You consider the CGT and IHT implications
of all the relevant issues in the case study
and this is fully accurate and timely.
Your advice is tailored specifically to the
client and considers a range of outcomes
where this is relevant.
12
You recommend an excellent investment
portfolio that is clearly demonstrated
to be suitable for the stated purposes.
Your choice of investments is well justified
and thoroughly researched and
this is clearly evidenced.
Your portfolio reflects the requirement to
minimise tax liability and assumptions are
stated. Figures are detailed and mostly accurate.
You explain investment choices in a clear and
accessible way to the client.
You clearly justify any changes that should
be made to any existing investments.
6 5
You use all of the relevant information given to
give excellent and realistic advice to the
recipient.
You build a realistic assessment of financial
You support your advice with evidenced
research and assumptions are stated.
All tax implications are accurately assessed
You produce a very good financial plan
that includes most of the changes to the couple's
income and expenditure from now until
and into retirement based on the case information.
Most of the information in the case is
considered and some further research supports
the plan presented, which is accurate and
evidenced.
Assumptions made are stated and limited
attempts have been made at scenario analysis
to reflect any choices the couple may be
required to make.
Very good communication and planning are
evident.
6 5
You show very good knowledge of the pension
reforms and apply it accurately to the case.
Information is accurate but lacks the depth of
analysis in relation to pension choices
even though all pensions are considered.
Your recommendation is both possible
but may not be the best option for the couple based
on the information given.
10-11
Your advise is well reasoned,
well researched and evidenced clearly.
You give very good advice in relation to the
making of a will and the implications of
death intestate but lacks detail in some areas.
You consider most of the CGT and IHT
issues indicated in the case study
and this is mostly accurate and timely.
Your advice is tailored specifically to the
client and considers a range of outcomes
where this is relevant.
10-11
You recommend a very good investment
portfolio that takes into account most
of the criteria in the case study but not all.
You have justified your choice but some choices
are not throughly justified or evidenced.
You have considered taxation but it is unclear
whether tax liability is minimised.
You attempt to assess the likelihood that
the investments will achieve the objectives
stated. Your explanations are mainly clear but
clarity in some areas.
You clearly justify any changes that should
be made to any existing investments.
Some scenario analysis may be attempted but
may have inaccurcies or be unrealistic
You use most of the relevant information given to
give very good and realistic advice to the
recipient.
You build a realistic assessment of financial
position and affordability of objectives.
You support your advice with a limited amount of
research and assumptions are stated.
Some tax issued are considered but not all.
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You produce a good financial plan
that includes some of the changes to the couple's
income and expenditure from now until
and into retirement based on the case information.
Some of the information in the case is
considered and some further research supports
the plan presented, which is mostly accurate and
evidenced.
Assumptions made are stated and limited
attempts have been made but no attempt has
been made at scenario analysis to reflect the
choices the couple may be required to make.
Good communication and planning are
evident but plan lacks clarity in some areas.
You show a good knowledge of the pension
reforms and apply it accurately to the case.
It includes mostly accurate advice and information
but with some omissions.
Not all pensions are considered fully and some
implications and choices are ignored.
You make recommendations but there may be
minor elements of misunderstanding or omission.
8-9
Your advise lacks evidence of research in some
areas.
You give good advice in relation to the
making of a will and the implications of
death intestate but there are inaccuracies or
omissions in the issues covered from the case.
You consider some of the CGT and IHT
issues indicated in the case studies
and this may contain minor errors.
Your advice fails to consider a range of outcomes
where this is relevant.
8-9
You recommend a good investment
portfolio that takes into account some
of the criteria in the case study but not all.
You have justified your choice but some choices
are not throughly justified or evidenced.
You have not considered taxation or your tax
assumptions contain errors.
You do not attempt to assess the likelihood that
the investments will achieve the objectives
stated. Your explanations can lack clarity
for the intended audience.
Changes to the existing portfolio are not clear
are not specifically mentioned.
It is likely that scenario analysis is not considered.
4 3.5
You give advice in relation to most or even all of
requirments. However, your advice lacks
depth of research and assumptions are
not always realistic.
Most of the information in the case is considered.
Tax is not fuilly considered or may contain some
minor errors.
Your advice is reasonable.
Some attempt has been made at a financial
plan but there are considerable omissions
relating to the information from the case.
Some of the information in the case is
considered but there is very little evidence of
further research that supports the plan.
Assumptions are not always clear or consistently
applied.
No attempt has been made at scenario analysis.
Communication is adequate but some parts
of the report are unclear.
4 3
You present some advice in relation to the
2014/15 pension reforms but there are some
minor errors in understanding or application
to the case.
No clear recommendation is given or
unfeasible recommendations are given
demonstrating a lack of understanding of some
issues in relation to the reforms.
7 5-6
Your advise lacks evidence of research in most
areas.
You give some specific advice in relation to
esate planning but do not fully address
death intestate and there are also considerable
other inaccuracies.
You consider few of the CGT and IHT
issues indicated in the case studies
and this may contain errors.
Your advice fails to consider a range of outcomes
where this is relevant and is not always clear.
7 5-6
You make recommendations for an investment
portfolio. However, they are not consistent
with the all of information given in the case.
Income projections are not given or appear
based on little or no research. There is
no attempt to assess the ability of the portfolio
to achieve stated goals.
Tax implications are not considered or contain
errors.
No scenario analysis is attempted
Your advice is unrealistic in some areas or lacks
consistency.
Not all areas are addressed and there is very
research to support advice that is given.
Tax may be considered but at a superficial
level and may contain errors.
Very little has been produced as
a financial plan and many of the areas in the
case have been ignored or applied incorrectly.
There is little evidence of further
research.
Assumptions are not stated
No attempt has been made at scenario
analysis.
Inaccuracies are apparent in the work
produced.
Poor presentation and communication
You give very little actual
advice in relation to the
2014/15 reforms.
Any advice given
contains inaccurates and errors.
You give some information about the
2014/15 reforms but fail to relate it to the
scenario
Very little effort to consider estate planning in
report or there is very little effort made
to give any information on this area.
What is produced is not specific to the client.
There may be factual inaccuracies in the
information presented that are
significant to mislead the client.
Advice is confusing.
You make some recommendations but
little or no evidence of any research or relation
to the case.
Tax is not considered and ISAs are not
mentioned.
No attempt to model outcomes
3 0-2
Advice, if given is unrealistic and only based
on information in the case study with little or
no evidence of further research.
No attempt has been made to produce
a financial plan and work does not show
understanding of the key areas.
No evidence of further research
No assumptions stated.
No attempt at scenario analysis
Work contains extensive errors and inaccuracies
Very poor presentation and communication
0-2
You fail to give any advice at all in relation to
the pension reforms. You may mention them
but information is inaccurate and shows a lack
of understanding.
No application to the case.
0-4
Area is not applied to the client and any
information is descriptive and generic.
Contains factual inaccuaries and omissions
Significant information is missing.
0-4
You do not make any recommendations
with regard to the investment portfolio.
Your answer in relation to this part is generic
and does not go beyond just describing
possible investments but makes no attempt
to relate it to the case at all.
You do not include any advice for the client or you
may have included some information about
the areas discussed but no specific advice.
Information is descriptive and no application.