Harry seeks personal investment advice from Sally, a financial advisor and AFS licence holder. Harry, a 60-year-old client with an income of $60,000 per year, is considering investing his life savings of $300,000 in a new technology company. Sally uses accurate data to calculate that the company has a 50% chance of tripling his money and a 50% chance of going broke. Sally advises Harry to make the $300,000 investment.

Discuss the following in your answer:

• Explain if Sally has fulfilled all her obligations as an AFS licensee?
• Harry takes Sally's advise and loses his life savings. If Harry sues Sally for negligence, will he be successful? Why or Why not?