Raj and Sofia were married last year, and they both are working on a full-time position. Raj works as an operational manager and earns $75,000.00 before tax. Sofia is a high school teacher and her annual salary is $72,000.00. They both are planning to raise a family in two years.  They both have a joint savings account and currently they are earning 3.5% interest on $35,000.

As a couple they both value a quality education for their children. They are paying $550.00 weekly rent and spending $20000.00pa for their essential expenses. Both have their own credit cards that they have used for holidays and branded items. Recently they have used the credit card to buy furniture for their home and are paying 8.5% interest on $12,000.00.

They have existing super funds with two different managed funds. Due to their job nature they never have enough time to check if they have appropriate super funds and investment options. They are willing to buy their own house in three years of time to live. They also want to have savings of $10,000.00 for the family. They have never consulted any financial advisers and are unaware of the help they can receive. 

 

Q. Construct a draft to explain your recommendation to Raj and Sofia.

 

Q. Explain, as a financial adviser how would you help Raj and Sofia to manage their financial affairs?

 

Q. Develop an appropriate strategy to provide financial advice to the above-mentioned client after analyzing their personal and financial situation. 

 

Q. How would you provide the written supporting documentation and guide the client through the key aspects of the document?