Anyone can help to answer the assignment attached please

FINS3637 Wealth Management Advice Individual Assignment - Summer School 2016 Due to be submitted no later than 5 Pm Monday the 25th of January 2016 NO late assignments will be accepted, therefore students who fail to submit their assignment by the above due date will be awarded a zero mark (no exceptions) The assignment needs to be submitted online by the above date in a soft copy format via the Turnitin link placed on Moodle the course website. This project will comprise a total of 40% of the marks allocated for this unit. Important Note: You need to answer the question in a Statement of Advice (SoA) format in accordance with ASIC guidelines. The SoA must have a 2 page \"Executive Summary\" section where you summarise the client's current situation, needs & concerns, goals & objectives and your recommended strategy. Refer to Chapter 15 of the Wiley Financial Planning text book for further hints. Important Notes: The Assignment must be typed (Font 12) and students must complete and sign the \"Assignment Coversheet Declaration\" form and attach it to the front of their assignment (a copy of this form is available online) Attempt ALL questions Where appropriate, the use of tables, graphs, flowcharts, etc. is encouraged to help illustrate your point clearly Show workings and calculations where applicable Check your spelling and grammar, marks will be awarded for the presentation of your work Assumptions must be clearly stated, assumptions need to be reasonable and logical and cannot conflict with the facts in the question/s Clearly state your source references Assumptions o Inflation 3% o AWOTE 3.5% o The investment growth rate is to be provided by you, however, you must apply due diligence on the rate provided and provide your source or research reference/s o Use 2015-2016 tax rates where applicable o Use FBT rates effective 1 April 2015 1 of 3 Case Study - The Gonzalez Family Mario and Lisa Gonzalez (age 42 and 39 respectively), they are married with 2 children (Joshua 5 and Zaina 3). Mario is an engineer and Lisa is an accountant. Mario spoke to Lisa and they decided to come and see you. Lisa made an appointment for both Mario and herself for an initial consultation with you. They have left you with the information below after the first interview. The Gonzalez family personal and financial information Mario Lisa $220,000 $120,000 Income salary & wages * Home - 2 bedroom apartment (principal residence) Home contents $1,200,000 (Joint tenancy) $120,000 Motor vehicle $80,000 Bank account (at call) 1 year term deposit @ 4% matures on the 22nd of January 2016 (interest paid annually) Shares Credit card (outstanding balance) Car loan $25,000 (Joint) CBA shares $50,000 BHP shares 25,000 Nil $50,000 Master card $12,000 Employer superannuation (retail funds) $160,000 $82,000 ($450K life and TPD ) ($250K life and TPD ) Balanced investment option Balanced investment option $38,000 Home loan @ 6.15 % variable Living expenses ** $450,000 $110,000 p.a Notes to the supplied information above: *The employer makes only the mandated employer contribution (SGC) to their nominated superannuation fund. ** Mario and Lisa's total current living expenses include mortgage repayments. 2 of 3 You need to advise Mario and Lisa on the issues below. You need to clearly address the following issues: o Mario and Lisa would like to pay off their home loan as soon as possible. o They would like to review their liabilities including Lisa's credit card debt. o They would like to establish a sinking fund to allow them to fund their children's private school fees in their years of high school. o They would like to save and invest. They are happy to consider the concept of borrowing to invest if they feel it can help them achieve their goals and objectives. o They would like to ensure their superannuation is invested appropriately. o Mario had recently attended a seminar arranged by his employer where a salary sacrifice strategy to superannuation was discussed. They would like to know if a salary sacrifice strategy would be suitable to either and or both of them (provide a calculated illustration with your explanation). o They would like to get some advice on the shares they have and what their options are. o Mario and Lisa would like to ensure they have adequate general and personal insurance. o Mario and Lisa would like you to consider their estate planning needs o The term deposit is maturing soon and they would like some advice on what they should be doing and possible options available to them. o Mario and Lisa would also like to take holiday to Disney Lands in the next 2 years for which the expected cost is approximately $20,000 in today's dollars. o Risk Profiling - Mario and Lisa have both indicated they wouldn't mind taking some calculated risks to help them achieve their objectives. They understand there is risk associated with growth investments and the fact they would need to undertake investment risk to be able to achieve return. Assess their appropriate risk profile based on the facts provided. Your task now is to prepare a complete Statement of Advice (SOA) for Mario and Lisa. The information provided in the client scenario is to be used in preparing your calculations and advice. As the assignment is to be a SOA for clients, it should be in a suitable format and use appropriate language. Clarity and conciseness are important but full explanations are required. Your SOA should clearly show the structure you recommend for their portfolio, how they can achieve their goals and where the capital and income will be sourced. Your SOA should address a long-term plan to provide income and should include projections. End of the Assignment Question 3 of 3