Gone With the Win Financial Planning(GWW) is a firm of financial planners and advisors who promoted their services as having provided "exclusive, specialized financial advice to high net wealth individuals, professionals and small business for fifty years. Principals with Principles, GWW today deserves its reputation as a market leader in financial advisory services, future-proofing your life-balance through exceptional service, exceptional people, integrity, professionalism and outstanding competence." The firm's letterhead showed that GWW is authorised to operate under PMTED Financial Pty Ltd's Australian Financial Services Licence (No. 987654), issued by the Australian Securities and Investment Commission (ASIC) in 1998.

Wilma Fudge, a principal with GWW, is concerned about her liability in providing advice, and wants to ensure that she has adequate asset protection so that none of her key assets are at risk.

Wilma comes to you for advice, wanting you to propose a structure for GWW's and her own business affairs to achieve this, and addressing any potential issues of vicarious, joint or several liability that could arise. Advise Wilma, making explicit any assumptions you may need to make.