This assignment is based on material regarding Insurance & Investment Concepts. Needs analysis is a requirement to complete the assignment.

It was the summer of 2011, and your client, Mr. Werner, called you to let you know that he would like you to attend a family gathering within two weeks.

In the Meeting Mr. Werner, 68 years old, announced that he will retire and turn his business, confectionary production facility with 6 outlets, to his son Adam (34 years old, married, have two sons and a daughter) and his daughter Jessica 30 years old, (engaged to get married in a years time) which they are currently partners with 25% each in the business, the rest is Mr. Werners share 40% and his wife Monica 10%.

The business net worth is almost CAD 25M.

A dividend from the retained earnings amounting to net CAD 15M will be made after which a donation will be granted to each of Mr. Werners kids for M2.5 M. with one condition to be fulfilled.

Due to the tough childhood Mr., Werner had due to his fathers gambling habit that resulted in losing his fortune and dying leaving the family in an agony, Mr. Werner wanted to secure his children and grand children future.

In the meeting Mr. Warner introduced you as his trusted financial advisor and asked you to conduct a comprehensive financial plan for him and his son and daughter, tailor made to their personal conditions and status given the cash dividends that will be received.

In other words, the condition is to use this cash for securing the family, aside from the running business.

The cash each family member to be left with

Mr. Werner and his wifeCAD 2.5 M

Adam and his Family CAD3.5M dividends CAD2.5M grant a total of CAD6 M.

Jessica CAD3.5M dividends CAD2.5M grant a total of CAD6 M.

Mr. Werner plan is to use this cash to have a world tour with his wife and secure his needs, want to have the business easily transformed to his siblings and to secure their life against any economic turbulence.

You left the meeting with a preliminary plan about what you are going to propose to each family member related to their either insurance or investment needs.

Feel free to add any assumptions for the case, just make sure to clearly mention them is a separate section. Make the right blend of insurance and investment products to minimize risk and taxes.