Noel is 56 years old and works as an advisor for Bunting Hardware Stores.Noel is concerned that he will not have enough super for his retirement.Noel believes that direct investment in shares will rapidly increase his 'nest egg'. Noel owns his own house and would like to re-mortgage it to enable him to invest in high-growth shares.

Noel intends to retire in nine years and is afraid of losing his money.He has a fixed term investment of $100 000 that will mature later this year.His annual income is $90,000 and he has $250,000 in superannuation.

Noel approaches you for advice.

Required:

a)Please explain to Noel the difference between a retail and a wholesale client and what disclosure requirements apply to advisers that provide specific advice to retail clients. Refer to relevant legislation and cases to support your answer.

b) What investment structure would you recommend to Noel? In your answer, please explain what conduct rules apply to you as a financial adviser, and how they would impact on your advice/recommendation.Refer to relevant case law and legislation where appropriate

Please only use CORPORATIONS ACT 2001 and ASIC act 2001