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Joseph is a Financial Adviser working for a Big Bank AFSL. New client Mariam has come to see Joseph for advice on her retirement and
Joseph is a Financial Adviser working for a Big Bank AFSL. New client Mariam has come to see Joseph for advice on her retirement and purchasing an investment property. Joseph provides Mariam with a risk profile questionnaire in their first meeting, and she tests as Conservative. At the first meeting Joseph asks Mariam some questions and she provides answers as follows: Q: Are you interested in shares? A: Maybe, if they are big well known Australian companies (Blue Chip) Q: Are you interested in paying for your investments to be managed? A: No Q: Are you interested in a Self-Managed Super fund? A: No, that's too risky for me, I have a government job and I would lose it if I broke any law like for example the superannuation laws by making a mistake with running own super fund. I also like the very low-cost government fund I currently have. immediately and use that to buy an investment property and a high growth international share managed investment run by the Big Bank. If Mariam accepts this plan Joseph will charge her $14,000 per year to manage her investments for her. Question - answer both questions below showing which is the answer for a and b clearly. standards. (5 marks) b) Identify two actions the adviser could take now to resolve the situation ( 5 marks) Joseph is a Financial Adviser working for a Big Bank AFSL. New client Mariam has come to see Joseph for advice on her retirement and purchasing an investment property. Joseph provides Mariam with a risk profile questionnaire in their first meeting, and she tests as Conservative. At the first meeting Joseph asks Mariam some questions and she provides answers as follows: Q: Are you interested in shares? A: Maybe, if they are big well known Australian companies (Blue Chip) Q: Are you interested in paying for your investments to be managed? A: No Q: Are you interested in a Self-Managed Super fund? A: No, that's too risky for me, I have a government job and I would lose it if I broke any law like for example the superannuation laws by making a mistake with running own super fund. I also like the very low-cost government fund I currently have. immediately and use that to buy an investment property and a high growth international share managed investment run by the Big Bank. If Mariam accepts this plan Joseph will charge her $14,000 per year to manage her investments for her. Question - answer both questions below showing which is the answer for a and b clearly. standards. (5 marks) b) Identify two actions the adviser could take now to resolve the situation ( 5 marks)
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