Avit (42) and John (39) have 2 children, Tracy (12) and Rohit

(8). They both live in Burlington, Ontario. Avit is an Insurance

Underwriter for Aviva Insurance, and John is a Senior Director

at TD. Their joint income is over $200,000 plus variable

compensation per annum. They were looking for a financial

planner to understand their finances better, plan for the future,

and simplify their affairs where possible.

Retirement plan: They each have several investment plans

from previous and current employments, including a defined

benefit pension and personal investment plans through

brokerage companies worth approximately $350,000. Avit has

now been auto-enrolled into a new scheme at work. John has

nothing in place.

Investments: They each have savings accounts totaling

$10,000, and TFSAs with $65,000 invested equally in their

accounts and Avit has inherited a significant portfolio worth

$890,000.

Insurance: Avit has some life coverage from work, but John has

nothing in place.

Other: They own their house worth $1,500,000 with a mortgage

of $550,000. They had not made Wills

Write a clear articulation of the problem statement for Avit and John