Craig Ellis (42) is recently divorced and has three children, 14, 12 and nine, with whom he co-parents with his ex-wife. He is a general practitioner at the local hospital and earns $180,000 p.a., plus super guarantee contributions. Craig has recently bought a house for $900,000 and has a mortgage of $480,000. In addition, he has $50,000 in a rolling one-mo term deposit, which he maintains for emergency expenses. Craig recently visited a financial planner to help sort out his financial affairs. After a brief chat on the phone and a one-hour meeting at the planner's office, the planner sent Craig a 90-page financial plan. Craig didn't complete any paperwork at the meeting, and the planner didn't give him any information other than a business card. Craig doesn't fully understand all the recommended strategies and is uncomfortable with some recommendations. One strategy that Craig is especially confused by is the financial planner's recommendation that he apply for a margin lending facility for $200,000 and, together with his $50,000 savings, invest $250,000 in a global equity fund. Craig doesn't know what a margin loan is, and there were no details of the managed fund in the plan. Furthermore, the financial plan didn't clarify what the fees were or how the planner charged and when he asked about the costs, the planner only said that the plan was free and there was no charge to him. REQUIRED: a. Reflecting on what you have learnt in this unit, discuss whether a margin lending strategy is appropriate for Craig. (2 marks) b. Conclude whether the financial planner has breached any ethical, professional, or legal obligations and if so, provide examples from the case study. (3 marks) c. What can financial planners do to ensure they comply with their ethical, professional, and legal obligations