Client's name:Damian Jones
WORKING PAPER
Client's name:Damian Jones
Date of contact:1 September 2022
Re:Initial client interview
FSG and adviser profile
Damian was handed Financial Services Guide (FSG) version 3 010722 and my Adviser Profile at the interview on 1 September 2022. The FSG was explained to him, and he agreed to proceed.
Scope of advice
The SOA will provide advice on the achievement of wealth creation and lifestyle goals, personal insurances (that is life, total & permanent disability (TPD), income protection (IP), trauma and private health insurance), superannuation (including salary sacrifice, personal tax-deductible contributions and/or after-tax contributions) and taxation planning where relevant.
The SOA excludes any budgeting and cash flow analysis, social security and estate planning. Client advised on the risks of not receiving advice in these areas.
Current situation
Your personal profile Damian Jones
Date of birth 12 July 1995
Current age 27
Marital status Single/Widowed
Residency Status Australian Resident
Residential address 18 Corella St, Forest Glen
Telephone 0412 345 678
Email address Damian.Jomes@gmail.com
Employment status Commercial property manager
Dependents Current age & date of birth
Mia 2 February 2019/aged 3
Your health Current health Pretty Healthy
Pre-existing medical conditions? Damian dislocated his shoulder few times other than that none
Member private health fund No
Smoker? No
Family history considerations? Damians mum suffers osteoporosis and his dad had heart disease. Mia has some childhood injuries, fractured her arms, and has a usual coughs and colds.
Lifestyle Assets Value
Home $800,000
Car $30,000
Home contents $10,000
Subtotal $840,000
Financial Assets Non-Super Value
Savings account with BOQ and emergency fund $19,000
Subtotal $19,000
Financial Assets Super Value
Provide details of any superannuation fund(s) held SuperSuper$42,650
Subtotal Assets Total $42,650
Liabilities Limit Amount outstanding Interest rate Repayment
Provide details of any liabilities Credit Card $6,500 $1,500 20% Liabilities Total $1,500 Net Worth (Assets Liabilities) $x
Income $
Income source e.g. salary / wages, dividends, rental income etc Salary commercial property manager also receives 10.5% super $65,000
Income Total Expenses N/A for this assignment
Estimated Cash Surplus / (Deficit) per month $500
INSURANCE
Owner Insurance Type Insurance Provider Benefit Amount Waiting Period Benefit Period Premiums
e.g. Damian / super fund e.g. income protection Potential issues / special consideration
x
Objectives
x
Risk profile
x
Wealth creation & lifestyle recommendations outside superannuation
Goal [holiday]
Recommended strategy:
x
Advantages of strategy [reasons why]
x
Disadvantages of strategy
x
Alternatives considered
x
Goal [Mias high school education]
Recommended strategy:
x
Advantages of strategy [reasons why]
x
Disadvantages of strategy
x
Alternatives considered
x
Wealth creation recommendations superannuation
Goal [sort out superannuation]
Recommended strategy:
x
Advantages of strategy [reasons why]
x
Disadvantages of strategy
x
Alternatives considered
x
Wealth protection (insurance) - recommendations
Life insurance
x
Total and permanent disability (TPD) insurance
x
Income protection (IP) insurance
x
Trauma insurance
x
Private health insurance
x
Other
x
APPENDIX 1 Future value (FV) calculations
