our task is to provide advice which helps to meet your client's goals and objectives.

Specifically, you are to provide advice on the specific areas of concerns that they raise and

you should also consider all their other information to provide supplementary advice.

Your advice should be based on the information that the clients have provided and you may

need to make assumptions to clarify any advice you give. Any assumptions you make should

be clearly documented in your discussion paper and they cannot introduce, change or conflict

with the client information that has been given

Mary Bishop (39 years of age) works full time as an Associate Professor of Chemistry at

UWA, earning gross income of $100,000 p.a. plus Super Guarantee (SG) contributions. Her

husband, Thomas Bishop (37 years of age) is a part-time office manager, earning gross

income of $50,000 p.a. plus SG contributions and takes on primary caring duties of their

daughter Roberta who is 3 years of age.

Thomas has a superannuation balance of $28,000 and he is happy with the fund and the

specific investment option he is in but would like advice on how he can build up the balance.

Mary has superannuation savings in several super funds that have a total balance of $105,000.

See

Appendix A

for details on her super funds. Mary would like advice on rolling her super

savings into one of her existing funds.

Mary and Thomas own their house currently valued at $980,000 and estimate that their house

contents are worth approximately $50,000. They have a mortgage with a current balance of

$450,000 and an interest rate of 3.33%. During the pandemic they were worried about losing

their income and so on arrangement with their lender, they switched to interest only payments

of $1,249 per month. They would like advice on what they should do to bring down the

balance of their mortgage quicker.

Mary and Thomas also have savings of $38,000 in a bank account earning 0.04% interest and

are seeking advice on how they can better utilise these savings.

Thomas also has a HECS/HELP debt of $13,500 remaining.

They have each completed a risk profile questionnaire. Mary's risk profile was assessed as

being 'high growth' while Thomas was assessed as being in the 'growth' category. They

prefer a hands-off approach to investing that is not too onerous on their time given that they

are busy with their work and raising their daughter

Mary's superannuation savings

Silverleaf super fund

Amber super fund

Magnolia super fund

Amount

$25,000

$50,000

$30,000

Investment option

Conservative

Growth

High growth

Investment fee

0.35%

1.33%

1.15%

Investment return

2.7%

4.7%

7%

- 1 year

Investment return

3.3%

9.6%

10.3