You are a financial adviser and the following information is an extract of data you gathered as part of fact finding during an initial client consultation for married couple Janet and Steven Blake. Janet works as a Teacher and Steven works as town planner at the local government. The have two children who are aged 12 and 14.

The Blakes have diversified their investments by investing equally in a bank savings account, a fund and some Macquarie Group Ltd Shares. Their risk profile is equivalent to that of a growth investor. They have come to you understand how they should invest in the future.

Income for year ended 30^th June 2018:

Income type	Amount
Gross Salary- Janet	$70,000
Gross Salary- Steven	$54,000
Vanguard Bond Fund- Distribution 3.85% (Janet)	$770
NAB Savings Account Janet- Interest 2.3%- Janet	$230
Macquarie Group Limited- Dividend $2.05 per share- Steven	$410 (partial franking credit $80)

Current Assets and Liabilities

Assets (Ownership)	Current valuation $	Liability (Ownership)	Current valuation $
Home Contents (Joint)	20,000	Credit cards (Joint) Includes the annual interest cost	6,000
Car (Joint)	35,000	Car loan (Joint) 5 year term at 12%	30,000
Bank Account: Cheque Account (Joint)	8,000
Investments: NAB savings Account (Janet) Vanguard Bond Fund (Janet) Macquarie Group Ltd Shares (Steven)	20,000 20,000 20,000

Required:

Review the Blakes investment portfolio and explain whether they are diversified adequately. Consider both investments across different asset classes and investments within classes. Make two recommendations on how they should change their portfolio for future investments and justify these recommendations.