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1500字Paper

发布日期:2016-12-21     [assignment代写]      来源于:Paper
导读:1500字作业;12月14日接单;计划交付时间:12月19日
1500字作业;12月14日接单;计划交付时间:12月19日
assignment代写

Important: 

         Please read this document in conjunction with the unit guide, which contains important information regarding submission, lateness, official assessment cover sheet, plagiarism, etc.
 
Notes:

          Please submit a hard copy only. Use the FBE assessment cover sheet. Do not provide your own title page, executive summary, table of contents, index, attachments, or plastic cover of any kind. Pages should be stapled together at the top left hand corner. This is an individual assignment.
 
This is not an academic report of the usual kind. Do not quote others, or use footnotes, or include references or a bibliography.
 
          This is your assignment, and you must answer it yourself, without my help. Make whatever reasonable, sensible, appropriate assumptions you need to in order to complete the tasks.
 
Mr Bob Anderson, has approached your practice seeking some advice. The practice’s financial planner had a telephone conversation with Bob last week. The planner asks you, the para-planner, to undertake a few tasks as part of the process of providing advice and recommendations for Bob and his wife.
 
The planner provides you with the following information.
 
Personal situation
Bob is aged 37 and his wife Joan is aged 36. Bob is a self-employed architect while Joan works 2–3 days a week as a solicitor.
 
They have 2 children, Toni aged 11 and Mark aged 10. The couple would like the children to attend a private school from age 14 (expected to cost around $15,000 pa).
Assets
Home (joint ownership) $900,000, contents (joint ownership) worth $80,000, 2 cars (one car in each name) worth approximately $60,000, savings account with Westpac Bank for $6,000 (in Bob’s name), shares (in Bob’s name) with a current market value of $70,000 (cost price of $90,000 acquired in May 2013), superannuation balances — Bob $120,000, Joan $70,000.
 
Bob acquired the shares 3 years ago on the advice of a friend. However, the shares have never done well and Bob has no interest or time in following the share market. The couple do not take an active interest in their investments.
 
Liabilities
Eighteen year home mortgage of $590,000 with a variable interest rate of 6.5% pa, monthly repayments of $4,712.
 
Five year car loan of $15,000 with a variable interest rate of 7.6% pa, monthly repayments of $310.
 
Credit card average monthly balance of $6,000 (used to pay for living expenses).
 
The couple are finding that a lot of their monthly income is going towards paying off their large amount of debt. They are worried that they have taken on too much debt and would like to reduce outstanding debt as fast as possible.
 
Income                                                                                       $ pa
– salary                                                                                      40,000
– net profit from business                                                               130,000
– bank interest                                                                                 120
– fully franked dividends (cash receipt)                                               2,250
– unfranked dividends (cash receipt)                                                  400
 
Expenses
Living expenses (excluding loans and interest charges)                       40,000
Mortgage and loan repayments                                                    60,264
Private health insurance                                                                 3,200
Professional membership fees
– Bob                                                                                                  700
– Joan                                                                                                  800
Travel expenses for work purposes:
– Joan                                                                                               400
Tax preparation (split 50/50)                                                    2 000
Donations (split 50/50)                                                                1,500
Holidays and entertainment                                                              10,000
 
The couple feel they pay an excessive amount of tax and are looking at ways of minimising tax payable as far as possible.
 
The couple’s superannuation accounts consist of the following:
 
Bob
(i)          Australian Industry Super Fund                                          $20,000
– invested in the balanced option
– includes death and TPD cover for $50,000
(ii)          Self-managed superannuation fund                                        $100,000
– invested 50% in shares and 50% in cash
– includes death and TPD cover for $50,000
Joan
(i)          Australian Industry Super Fund                                          $60,000
– invested in the balanced option
(ii)          Self-managed superannuation fund                                          $10,000
– invested 50% in shares and 50% in cash
 
Other than detailed above, the couple have no other personal insurance cover.
 
The couple’s self-managed superannuation fund (SMSF) was established 4 years ago by their accountant. However, they have no real understanding of how the SMSF works or what the benefits are in contributing.
 
Joan’s current employer contributes 9.5% Superannuation Guarantee payments into the Australian Industry Super Fund. Bob contributes to his SMSF on an irregular basis when he remembers to contribute or his accountant happens to mention it before the end of the year. However, Bob has not taken an active interest in his superannuation affairs and has not contributed for the past 2 years.
 
The asset break-up of the Australian Industry Super Fund balanced fund account is approximately as follows:
Cash                                                                      5%
Australian fixed interest                                        15%
International fixed interest                                        5%
Australian shares                                                  35%
International shares                                                  23%
Property                                                            10%
Alternative investments                                        7%
 
The couple now feel that they need to take a more active interest in their wealth creation and retirement planning but are not sure how best to go about it. Their objective is to retire when Bob turns 58 so that they can travel around Australia. Accordingly, they have sought the advice of your financial planning practice.
 
 
The financial planner had a brief telephone conversation with Bob at the start of July 2016 and the client emailed the above details. The financial planner has asked you to prepare some appropriate strategies for Bob and Joan that will assist in meeting their goals and needs.
 
You are required to provide a discussion and explanation of the broad strategies that you would recommend for the couple taking into account their objectives and assumed risk profile, and explain how your recommended strategies meet their objectives. For each broad strategy, you should also detail the main benefits and risks to the client.
 
The ‘six step’ financial planning process should be used to set out your recommended strategies to Bob and Joan:
1.The objectives of the couple are to be determined and stated.
2.Relevant personal information on the couple is to be collated and presented, and is to include their current balance sheet, cash flow statement and asset allocation.
3.The strengths and weakness of the couple's financial position are to be identified.
4.Recommendations are to be made based on the analysis.
 
You are not required to prepare a full SOA, merely the above information which might be used by the financial planner in developing an SOA. Remember, keep it simple!

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