Covering Letter
Samuel and Caroline KLEIN
Address Line: 29 Esther Court Brickhill Victoria 3999
Dear Samuel and Caroline
I would like to thank you for the opportunity given to me to meet you and present you with the suggestions that have been constructed with respect to the information provided. This would be helpful in investing in an effective manner and thereby the returns that would be achieved will be useful in maintaining the general lifestyle even after retirement.
The meeting along with the completed Risk Profile Questionnaire and Fact Finder has provided us with a precise understanding of the your present condition, objectives and goals and your behaviour and attitude towards investment in risk and returns, volatility and security.
From this data, we have been able to construct the Statement of Advice (SoA). The SoA that is related to your information is a record for the suggestions that have been given to you and how they would be able to meet the personal goals and circumstances and is inclusive of the information like the commissions, fees and any other associations and interests that can have an influence on our advice. Please take some time to go through the SoA and the supportive materials in a careful manner to ensure that the information are suitable and correct. If any details are false and are incorrect then they have been omitted and therefore kindly bring them to our attention before our next appointment.
If your scenarios have changed or if this SoA is not incorporated within the next thirty days, we will require to change these suggestions to ensure that they are suitable.
I thank you for selecting and using our services and will contact you within the coming two weeks to answer any questions that may arise.
I look forward to assisting you to incorporate these plans and strategies and being of continuing service and assistance. The assistance that have been provided is in compliance with the ASIC requirements.
Yours faithfully
Sign
Malcolm Johnson
Financial Adviser
Role of the Adviser
The function of the adviser has been to give out the client with the financial advices and planning thereby gaining their financial objectives and goals and thereby would develop their wealth for the consumers by making use of their strategies that would be out of scope for the couple. The consultation or the advice that is given to the couple is a professional advice which is credible by the requirement of training in order to gain the license of financial advising (RG 146). The RG 146 is the license that allows legally to a license to provide specific financial consultation. The other general responsibility on the licenses has been to provide financial services in order to make sure that the agents are sufficiently competent and trained in order to provide the financial services. The financial advisers has to have a minimum bachelor’s degree and the distinct financial planning qualification course that would be effective enough to provide distinct and ideal consultation. The courses that have been qualified requires to be registered by the Australian Government.
Scope of Advice
The services and the products that the financial advisers are permitted to provide recommendations are financial commodities like the International Equities, Australian equities and investments that are seen in the balanced funds. The adviser provides financial commodities like the shares of numerous international and domestic firms and mutual funds. The products that are associated to the small equities are even given to them with the support of which the couple can improve their income by taking assistance of the investment. The products that are associated with life insurance can improve their lifestyle. The services of the advisers are inclusive of the financial consultation along with the assessment and evaluation of the products where the couple have undertaken investments in order to maintain their extent of investment. The transformations in the investment portfolio of the couple is even undertaken by the financial planner in accordance to which the requirement and the aim of the couple.
Disclaimer
The construction of the SOA has been undertaken with extreme caution and hence are confident in providing preciseness and quality of the advice as various factors that have been taken care of during the completion of SOA. The data that has been given are complete and accurate and has been gathered from several sources that are reliable in nature. The data that has been collected from the financial firms in accordance to the numerous products are precise and legislation in accordance to the financial commodities have been considered. The future anticipation of the financial commodities are even explained in order to gain some idea about the future performance of the investments. The time period for holding the investments are even given in order to have some idea about the commodities that have been regarded. The transformations in the asset allocation is even addressed in order to improve the decisions with respect to investments for the client. The rectifications in the individual scenarios with respect to the economic environment of Australia and the international economy has been granted with the assistance of efficient financial advices and hence the financial consultation firm take the responsibility for any changes in the scenario that has an impact on the strategies that has been covered in the Statement of Advice.
As highlighted in the Financial Service Guide (FSG), provided by the firm, the company does not guarantee the repayment of the capital and any specific rate of return.
The information in relation to taxation available in the SOA is provided in the guide only. Therefore, it is essential to look for independent tax consultation from a tax adviser who is qualified.
Disclosure Statement
The disclosure statement addresses that there have been several investments that have been suggested in order to improve the investment operations of the client. The investments that have been highlighted can influence the recommendations and the asset allocation is undertaken in accordance to an efficient portfolio that would be useful for the returns for the couple.
Personal Situation
With respect to the current scenario, Samuel and Caroline Klein have been married for a long time and they are aged 55 years. They reside in Victoria and have two children Isabelle and Sean who are both independent. Samuel and Caroline works full time and have been earning very well. Samuel has an annual income of $140,000 and Caroline has an annual salary of $30,000. Samuel has super life contribution of current value of $270,000 and Caroline has a current value $100,000. They have an investment property that has a current value of $220,000 and UA Managed fund with a current value of $85,000. The couple are nearing the age of retirement and therefore they are in the requirement of gaining income that would be ideal for maintaining their current lifestyle even after retirement. The couple have an investment property that has a current worth of $400,000 and with a mortgage value of $175,000 on an interest only loan. They have taken hold of an investment property and have understood that after a certain time giving the property on rent would provide effective income. They want to retire with a mortgage free scenario and therefore are in the idea of talking certain advice that would be useful for them to undertake additional investments and in that manner maintain their retirement income. Caroline is even to receive $200,000 from ancestral inheritance.
Goals and Objectives
The key objectives and goals for the couple has been to plan their retirement within 3 years. They even want to pay off their mortgages before their time to retirement and have adequate funds in order to buy a new car that costs $30,000 and take a holiday costing $25,000 which has a value of $55,000 which is on top repayment of the mortgage. They even want to remodel their affairs with an idea to gain $48,000 p.a after retirement. The couple even wants to optimise their resources in order to fund their retirement. The couple even wants to mitigate their taxes in the current period and even after retirement. They even want to invest their money so that it would last even during their years of retirement. They have the idea of self-supporting themselves with the help of various supports like Age Pension. The client even wants to gain control of their financial affairs and have to support them to guide them with their financial decisions. They are even in the idea of giving the children $40,000 in order for each of them to start their savings plan. The mortgage for the home is scheduled to be paid off in approximately 6 years. The investment property mortgage us interest only and they want to make sure that their wishes are fulfilled when they pass away.
Risk Profile
The evaluation of the risk profile ascertains that the client is a balanced investors as the couple has the aim of minimising their losses and maintain steady returns over the short time span as the capital security is of key importance. They have the idea of gaining increased returns where investments that have increased security of capital and low investment risks. The income that would be gained requires to satisfy the income need and the true rate of return.
Cash Flow Requirements
The cash flow requirement of the couple has been to provide a positive net cash flow that would enhance the financial scenario of the couple and in that manner raise their income in the next 3 years and thereby has a plan constructed with respect to the present lifestyle.
Cash Flow
|
|
|||
|
Income and expenses |
|||
|
Client 1 |
Client 2 |
Notes |
|
|
Income from employment |
|||
|
Salary |
$140,000 |
$30,000 |
|
|
Salary sacrifice |
|||
|
Salary after salary sacrifice |
$140,000 |
$30,000 |
|
|
Investment income |
$4750 |
$9750 |
|
|
Unfranked dividends |
|||
|
Franked dividends |
|||
|
Franking (imputation) credits |
|||
|
Interest |
|||
|
Other income, e.g. taxable benefits |
|||
|
Capital gains < 1 yr |
|||
|
Capital gains > 1 yr |
|||
|
Tax-free component of capital gains |
|||
|
Assessable income |
$144,750 |
$39,750 |
|
|
Deductible expenses |
|||
|
Rental expenses, repairs etc. |
|||
|
Taxable income |
$144,750 |
$39,750 |
|
|
Tax on taxable income |
$41,850 |
$2,750 |
|
|
Non-refundable tax offsets (e.g. LITO/SATO) |
|||
|
Medicare levy |
|||
|
Medicare levy surcharge |
|||
|
Franking rebate |
|
Refundable rebates and offsets |
|||
|
Total tax |
$41,850 |
$2,750 |
|
|
Income after tax |
$102,900 |
$37,000 |
|
|
Notes |
|||
|
Family cash flow |
|||
|
Client 1 |
Client 2 |
Combined |
|
|
Income after tax (as calculated above) |
$102,900 |
$37,000 |
|
|
Investment expenses |
|||
|
Living expenses |
|||
|
Mortgage |
$15,252 |
$15,252 |
|
|
General living expenses |
$21,000 |
$21,000 |
|
|
Super life contribution |
$10,000 |
||
|
Donations |
$0 |
||
|
Holidays (annually) |
$0 |
||
|
Total expenses |
$46,252 |
$36,252 |
|
|
Net cash flow |
$56,648 |
$748 |
By observing the existing cash flow statement, it is explained that the couple has an adequate surplus income that would inspire them to take investments. It has been viewed that the present amount of the future cash flow will lead to the development of the operations that would inspire them to gain extra income in the future. It is known that the couple would be requiring $48,000 after retirement and therefore undertaking investments with the help of the net cash flow would lead to additional income that would be helpful in maintaining the current lifestyle.
Balance Sheet
|
Particulars |
Assets |
Liabilities |
Owner |
|
Principal Residence |
$650,000 |
$150,000 |
Joint |
|
Cash and Bank Deposits |
$14,000 |
Joint |
|
|
Motor Vehicles |
$45,000 |
Samuel |
|
|
Motor Vehicles |
$17,000 |
Caroline |
|
|
Investment Property |
$400,000 |
$175,000 |
Joint |
|
Home Contents |
$25,000 |
Joint |
|
|
Managed Funds |
$85,000 |
Caroline |
|
|
Superannuation Client |
$270,000 |
Samuel |
|
|
Superannuation Partner |
$100,000 |
Caroline |
|
|
Holiday Home |
$250,000 |
Joint |
|
|
Personal Loans/ Overdrafts etc (Business) |
$20,000 |
Samuel |
|
|
Credit Cards, etc |
$2,000 |
Joint |
|
|
Total |
$1,856,000 |
$345,000 |
Recommendation
In order to accomplish the desired objectives and goals, these are the answers that have been recommended:
Wealth Protection
The debt protection can be undertaken with the idea of mitigating the extent of debt with the support of which effective actions can be taken and thereby protection of wealth can be undertaken. The protection of wealth can be initiated with the help of efficient evaluation of the investment portfolio in accordance to the market that is always changing.
Wealth Accumulation
In order to gather the wealth, the client requires to utilise the efficient returns from the term deposits in order to raise their income and hence the couple requires to invest on funds after maturity in specific investments like shares with the assistance of which the couple can raise their extent of returns.
Estate Planning
The couple have a mortgage with respect to the investment property and have the idea of paying off their mortgage before they retire. It is seen that in order to have make their returns after investment similar to the one that they are gaining currently, the couple can even give out a part of the investment property as rent and thereby attain extensive level of returns.
Projected Results of Recommendation
There have been various projections with respect to future spending that has to be considered like the income tax legislations, tax rates, rate of investment earnings and inflation in order to construct the Statement of Advice. Any key changes in these aspects can lead to a reflective impact on the future strategy and the financial scenario. It is necessary to compliment that the assumptions can hence act a guide and the anticipated results may not be predicted with any extent of certainty.
The projected suggested results reveal that establishment of the investment portfolio that comprises of the numerous investments in the equities and shares and even in bonds that can lead to the rise in income that would enhance the financial condition of the couple. The suggestions involve undertaking investments in several shares and binds so that the risk is distributed and thereby the return level gets raised. The couple even needs to purchase the insurances for themselves and for their estate property and car in order to secure themselves from any unexpected situations.
Current Situation
The personal information of the couple has been addressed below so in order to ensure that all the information are true and correct.
|
Details |
Samuel |
Caroline
|
|
Date of Birth: |
21/1/1955 |
17/11/1955 |
|
Sex: |
Male |
Female |
|
Marital Status: |
Married |
Married |
|
Principle Place of Residence: |
29 Esther Court Brick Hill Victoria |
29 Esther Court Brick Hill Victoria |
|
Health: |
Excellent |
Excellent |
|
Current Will: |
Yes |
Yes |
|
Testamentary Trust: |
Not Available |
Not Available |
|
Power/Enduring Powers of Attorney: |
No |
No |
Short Term Objectives
Medium Term Objectives
Long Term Objectives
The risk profile has been undertaken in order to aid in the construction of an investment strategy suitable to the specific scenario that has been completed in the Risk Profile Questionnaire by making an authentic and meaningful evaluation of the willingness to accept risk. The questionnaire that has been forwarded asks about the values, attitudes and experiences. The discussion and the assessment that has been undertaken it is observed that “Balanced Risk Profile” is the most ideal one with respect to the requirement at the present time. In ascertaining this, I have considered the following factors that have been discussed in the meeting:
|
Asset Class |
Allocation Percentage |
|
International Equities |
23% |
|
Australian Equities |
30% |
|
Property |
18% |
|
Fixed Income |
22% |
|
Cash |
7% |
|
Total |
100% |
XYZ Limited has an enhanced team of in house research and technical analysts who are reviewing constantly and evaluating the services and the products that are available in the market to ensure that XYZ is able to evaluate the services and the products in order to meet the objectives of the firm. The other economic and investment information is collected and assessed as follows:
The sources of the research are collected by assessing the market condition on a timely manner and gain knowledge about the several transformations that have been taking place. The research even evaluates the products that are available in the market and thereby initiates a comparison in order to gain knowledge about the disadvantages and the benefits and hence suggest the products that are ideal for the couple. The personal details of the customers are even regarded in order to suggest the products that are suitable for them for investment.
The economic and the financial transformations are evaluated with the assistance of the press releases that have been disclosed by the press media and the data that have been disclosed in the newspaper. The transformations that have been taking place are even assessed and compared with the assistance of the disclosures of the firm so that a knowledge can be obtained.
The investment plans and the product disclosure statements are evaluated by taking a comparison with their previous performance in order to have an idea about the current performance of the product and hence take investment decisions. The statements are even undertaken a comparison with the reports disclosed by the external providers in order to have knowledge about the differentiation in the product disclosure statement.
The quantitative information from the above data is assisting in gaining knowledge about the numerous transformations that have been taking place in the market and in the economy so that efficient developments can be undertaken with the support of which the products can be recommended to the client
The strategic projections that have been recognised and examined are inclusive of:
Key Client Assumptions
The essential client assumptions has been making the return period annually and the actual return rate even known as the capital growth as 7%. The actual rate of income has been predicted to be 5%.
Key Economic Assumptions
The economic projections are inclusive of the fact that there has not been any transformations in the rate of inflation and there has not been any transformations in the interest rate.
Key Legislative and Regulatory Assumptions
The vital legislative and regulatory projections are inclusive of the taxation rate being stable and the interest rate being fixed as well. The CPI has altered from the year 2009/10 to 2015/16 and the rate has been variant from 2.1% to 11.3%. The current CPI has been 7%.
Clarification
The clarification of the projections that have been explained earlier has been collected from numerous sources that are inclusive of the client information, various website resources and the professionals like the solicitors and the accountants.
Strategies
In the earlier explanations there has been an assessment of the short medium and long term objectives with respect to the resources that are available. The choices and the options have been suggested with respect to the goals that requires to be accomplished.
|
Life insurance details |
|||||||
|
Life insured |
Owner |
Policy type |
Company |
Policy number |
Death benefit |
Comments |
Annual premium |
|
Samuel and Caroline |
Superannuation fund |
Life |
ABXY Super Fund |
XTP1234 |
$50,000 |
Within superannuation |
From superannuation |
|
Disability insurance details |
|||||||
|
Life insured |
Owner |
Policy type |
Company |
Policy number |
Death benefit |
Comments |
Annual premium |
|
Samuel and Caroline |
Superannuation fund |
TPD |
ABXY Super Fund |
XTP1234 |
$50,000 |
Within superannuation |
From superannuation |
|
Superannuation |
||||||||
|
Samuel |
||||||||
|
Fund name |
Nationwide Super |
|||||||
|
Date of joining fund |
19 November 2017 |
|||||||
|
Type of fund |
û |
Accumulation |
Defined benefit |
Accumulation |
Defined benefit |
|||
|
Pension |
Pensioner |
Pension |
Pensioner |
|||||
|
Contributions |
SG |
By employer |
By yourself |
By employer |
By yourself |
|||
|
Current value of your superannuation fund |
$270,000 |
|||||||
|
Amount of death and |
$270,000 |
|||||||
|
Is there provision for you to top up or salary sacrifice? |
û |
Yes |
No |
Yes |
No |
|
Superannuation |
||||||||
|
Member |
Caroline |
|||||||
|
Fund name |
Best Choice Statewide |
|||||||
|
Date of joining fund |
19 November 2017 |
|||||||
|
Type of fund |
û |
Accumulation |
Defined benefit |
Accumulation |
Defined benefit |
|||
|
Pension |
Pensioner |
Pension |
Pensioner |
|||||
|
Contributions |
SG |
By employer |
By yourself |
By employer |
By yourself |
|||
|
Current value of your superannuation fund |
$100,000 |
|||||||
|
Amount of death and |
$100,000 |
|||||||
|
Is there provision for you to top up or salary sacrifice? |
û |
Yes |
No |
Yes |
No |
The investment strategy has been in accordance to the objectives and the goals of the couple. This explains that collection of wealth with the assistance of which the savings plan for their children can be secured. The ownership of wealth will be under both Caroline and Samuel and thereby the income that would be received will be utilised for the purpose of undertaking a savings plan for the children.
The reduction in the tax payable on the cash investments would be used with the assistance of numerous investments which will mitigate the net tax that would be payable.
The payment of the mortgage would be done by taking care of the efficient investment strategy and wealth accumulation. The client would even pay an annual amount and that would be given out by Caroline and Samuel jointly from their income and even from the interest that they receive.
The amount that would be needed by the couple after their retirement in order to maintain their current lifestyle even after retirement is $ 82,000 in the current period and $48,000 after retirement.
Existing Insurance Coverage
The existing insurance coverage of Samuel has a value of $270,000 which is a term insurance and does not cover the income protection, trauma, endowment and whole life protection. On the other hand, Caroline has similar term insurance coverage which does not cover the aspects that have been addressed earlier. Hence, it is essential that they change insurance products as the couple are getting old and therefore protecting their life and income is essential. Trauma coverage even essential in order to safeguard their income and life from any temporary or permanent disablement. Therefore, the recommended insurance coverage is as follows:
|
Replacement Company |
Type of Cover |
Level of Cover |
|
Vanguard |
TPD |
Partial Disablement |
|
IOOOF Holdings |
Life and TPD |
Partial and Permanent Disablement and life coverage |
|
AXA |
Trauma |
Full |
|
Macquarie |
Income Protection |
Full Coverage |
The key requirement of the couple has been to secure the income and life and improve the extent of income even after retirement in order to maintain their present standard of living in the future as well. The couple has the idea of paying off their mortgage prior to their retirement and hence needs to obtain adequate income in order to pay for the future savings plan for their children. Therefore, the insurance products that have been recommended are ideal for them as they are reasonable and even covers the demand and requirements. The products have value-added benefits and hence are suitable for the client.
The couple needs to undertake additional investments in order to increase their level of income and thereby generate income that would be sufficient from them in the current as well as in the life after retirement. They have various objectives that needs to be satisfied and hence undertaking further investments are essential. The recommended investments are as follows:
|
Existing Company |
Product Type |
Replacement Company |
Withdrawal Value $ |
Exit Fees/ Penalties Applicable |
|
Nationwide Super Superannuation Fund and Best Choice Westwide |
Superannuation |
NA |
NA |
NA |
|
NA |
Balanced equity |
IOOF Holding |
0 |
$550 |
The products that have been suggested satisfies the objectives and goals and thereby the wealth that would be generated would be adequate for the client even after their retirement. The tax that is applicable is the GST and the income tax would be deducted from the overall amount undertaken for the purpose of investment. The product is accessible easily and diversification can be undertaken with respect to which the asset pool can be changed according to the demand of the client and the changing market condition.
|
Asset allocation |
Weight |
Risk profile weight |
Variance (weight) |
|
Defensive assets |
|||
|
Australian cash |
2.57% |
10% |
-17.43% |
|
Australian fixed interest |
24.53% |
20% |
4.53% |
|
International fixed interest |
3.68% |
10% |
-6.32% |
|
Total for defensive assets |
30.78% |
40% |
-9.22% |
|
Growth assets |
|||
|
Australian equities |
54.14% |
35% |
19.14% |
|
Australian property |
6.62% |
15% |
-8.38% |
|
International equities |
8.46% |
10% |
-1.54% |
|
International property |
0% |
0% |
0% |
|
Total for growth assets |
69.22% |
60% |
9.22% |
|
Grand total |
100% |
100% |
0 |
The product that has been advised is a suitable one as it has been capable of satisfying the demand of the client in accordance to their objectives and aims. There have been numerous products that are seen in the market but these are the commodities that are appropriate for the couple as the earnings they require within the dedicated time period can be given with the assistance of these investments.
A Statement of Advice construction fee is levied that has been discussed in the initial meeting and the amount is $3000 for which a separate tax invoice would be given with respect to the agreement. The entry fee that is levied is 5% of the original investment and a penalty is charged as an exit fee and this is levied on the time period that was not completed.
The assessment of the portfolio recommends that economic aspect has been regarded and the portfolio has been established by taking help of the performance that has been taking place in the investment sector. The investment sector addresses that the economy has been acting efficiently and hence constructing the portfolio that is suitable for them is undertaken. The taxation scenario has been regarded and concerns and the objectives has been regarded. The estate planning concerns are even looked into and a place for new investments is provided so that extra income can be attained by the client.
I am happy to provide a review service that gives out general written reports on the status and the valuation of the investment portfolio. I will be available at any point of time for the formal feedbacks and to answer the questions and provide suggestions with respect to the financial scenario if any queries arise. The charges for the review services is $500 and should have tax deductible to the context to the investment portfolio that gives out assessable income. I will meet you annually in order to arrange a meeting for the review.
Samuel and Caroline Klein
29 Esther Court Brick Hill, Victoria
Acknowledge that the products listed in the table below are to be invested by:
Malcom Johnson
1/8 Bakers Street Victoria
Authorised Representative of XYZ Pty Ltd Australian Financial Services Licensee AFSL Number (123321)
|
Investment |
Owner |
Amount to Redeem |
|
<<Samuel and Caroline’s’ current super fund>> |
NA |
NA |
Insurances
|
Insurances |
Owner |
Amount of Cover |
|
<<List insurances>> |
NA |
NA |
|
|
|
|
|
|
|
|
|
Investment |
Owner |
Amount Invested |
|
<<List investments>> |
NA |
NA |
I//We wish to proceed with the recommendations offered in the Statement of Advice dated 04/12/2017.
I/We wish NOT TO PROCEED with any of the recommendations offered in the Statement of Advice dated insert date here.
I/We have chosen to buy products and/or levels of cover which differ from the recommendation offered in the Statement of advice dated insert date here. The products and/or level of cover that I have chosen to buy are as follows:
|
Investment |
Owner |
Amount to Redeem |
|
<<List investments>> |
NA |
NA |
|
|
|
|
|
Investment |
Owner |
Amount of Cover |
|
<<List insurances>> |
NA |
NA |
|
|
|
|
|
Investment |
Owner |
Amount Invested |
|
<<List investments>> |
NA |
NA |
|
|
|
|
The reason/s why I have not chosen to accept your recommendation/s are:
_____________________________________________________________________
______________________________________________________________________________________
_____________________________________________________________________
______________________________________________________________________________________
|
Detail |
Initial Premium (Annualised) |
Commission payable to Mentor |
Adviser Percentage |
||||||
|
Initial Commission |
Trailing Commission |
Initial Commission |
Trailing Commission |
||||||
|
% |
$ |
% |
$ |
% |
$ |
% |
$ |
||
|
Product |
370,000 |
3 |
11,100 |
2 |
7,400 |
2 |
7,400 |
1 |
3,700 |
|
Client Fee |
500 |
||||||||
In order to implement this statement of advice, you will need to complete the following steps:
By signing this authority to proceed, I/we Samuel and Caroline acknowledge the following:
Samuel Klein
Caroline Klein
Information Limitations
With respect to Section 945 of the Corporations Act, this report has been constructed in the basis of the data that has been provided. If you believe that we have misunderstood this data that the financial situations have transformed or that certain precise data has been missed, or that you have not provided the entire data, then it is client’s responsibility to bring this to our attention prior to moving ahead with this proposal. This company or its associated firms have no responsibility for the matters that come out of this report if the data you have provided is incorrect, inaccurate and incomplete.
Additionally, the firm or its associated firm does not warrant or authenticate the financial performance, security and stability of any investments product, trust or investment firm herein suggested.
This report is constructed solely for the use of the client to whom it has been addressed and this firm and its associated firms do not accept any liability whatsoever to the third parties.
All representations that have been made, information presented and advices made by or on behalf of XYZ Pty Ltd in good faith but XYZ Pty Ltd and its associated firms shall not be liable for damages or in any other way for misrepresentations, error of fact and opinion except in any scenario where liability cannot be excluded permissible to any law
Time Limitation
As economies and the markets are changing constantly the suggestions in this report are valid only for the third days (30) from the date of presentation
To ensure that this SOA remains appropriate to your needs we suggest a review and if necessary a revised SOA can be constructed after this time frame has elapsed.
Offer Documents (Product Disclosure Statement) and Research Reports
Please ensure that you read the product disclosure statements in association to each of the suggested insurance products and investments before moving ahead.
The accompanying research reports have been given by XYZ Pty Ltd
Client Declaration
I/We have accepted, read, and retained a copy of the personal investment suggestions which includes charges and fees related with this Statement of Advice. The investment strategy, client profile and assumptions meet with my/our approval. If my/our financial scenarios or needs alter, it is my/our accountability to look for additional advice suitable to those situations.
I/We have deliberated and understand the financial inferences of the financial commendations prepared by you on 04/1/2018.
I/We acknowledge that the material given within this SOA is solely for my/our use. It is accepted that every attention has been taken to ensure that the material is precise and trustworthy and that no responsibility is accepted for omissions or errors.
I/We understand that a copy of the Data Collection Form from which the information in this report has been sourced is available on request.
I/We confirm that I/we have received a copy of the Financial Services Guide (including complaints handling procedures) and the XYZ Pty Ltd, and have read and understood both documents.
I/We have read and agreed the marketing documents that attended the financial commendations, which include details of all fees and commissions including costs of early withdrawal.
I/We understand that the financial recommendations have been based on the information I/we have provided and that appropriate advice may not be able to be given without complete information. I/We understand that by not providing appropriate information as to my/our financial conditions, needs and objectives, or choosing to invest in or purchase a financial product other than recommended in this report, I/we risk making a financial commitment to a product that may not be appropriate to my/our needs.
I/We understand that all recommendations are based on present understandings of laws and regulations.
Signed _________________________ Date ____________________
Signed _________________________ Date ____________________
Adviser Declaration
I acknowledge that a copy of a Statement of Advice was given to you.
I confirm that I have provided you with a copy of the Financial Services Guide and the XYZ Pty Ltd Privacy Statement and you have specified that you have gone through and understood both the documents.
I declare that this report is a precise and complete record of the suggestions and the advice that I have given it to you (Client).
I declare that I only provided advice on the products for which I have been authorised to provide advice and that these products are in my point suitable for the recognised objectives and needs of you (the client).
In all scenarios, my primary concern is for the financial well-being of my clients.
Signed _________________________ Date ____________________
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