個(gè)人理財(cái)計(jì)劃書(shū)(SOA)英文版

1、covering letterprivate and confidential23 september 2012 mr. & mrs. hull112 west road, maribynong, 3011melbourne vicdear mr. and mrs. hull,on 15 september, we are honored to meet you both to talk about your financial goals and requirements. in that meeting, you said you want us to make a compreh

2、ensive financial planning for you. based on our discussions, you have agreed that you want begin to make a good preparation for your retirement life though a professional saving plan. however, you do not want this plan has some impact on your normal lifestyle, and you want to give your sons a good e

3、ducation. in addition, we all agree on that guaranteeing the normal life level for your family is the major priority, even though someone of you can not provide support for it.we promise that this content in this plan is all based on the information provided by you. before this financial plan, we wi

4、ll show you all your details, and if you find something is different with your real information, please let us know. so we can make our recommendations all based on the reliable information.jacob, you said you would like to retire at age 60, and we think this retirement date is feasible. so we will

5、use this retirement date in your financial plan. in order to achieve your goals after retirement, we need to monitor the savings progress of both of you. because all recommendations and advices in this financial plan are all based on your own information, only you can rely on this financial plan.the

6、 financial plan should be carried out within one month. because financial assumptions used to develop this plan may changes very rapidly, for example, changes in your situation, financial market and so on. if this plan is not being acted within one month, it is necessary for us to review all the rec

7、ommendations and advices in this plan. a copy of our statement on privacy and details on security of your personal information will be included for you to read. it is your duty to keep all of your details in strictest confidence.also, we strongly advised that you should make your plan reviewed withi

8、n 12 months to make sure the progress of your saving and investment plan all on the right track. because any changes on personal, financial market or legal may happen, and we must make adjustment on time.we will contact you within one week. we can discuss any questions which you may have about the i

9、mplementation of our recommendations.yours sincerely,cui shan, guo yang, xiao wenjin, yang yuwanauthorised representative(03) 2341 765 plan cover letteraustriprise financial advisorsacn 3845123australian financial services licence 12315level 11374 flinders streetmelbourne vic 3000tel: (03) 9797-0343

10、fax: (03) 7647-1322e-mail: austripriseplanning.auprivate and confidentialfinancial plan: including a statement of adviceprepared for:mr. & mrs. hull112 west road, maribynong, 3011melbourne vicdate: 23 september 2012prepared by:cui shan, guo yang, xiao wenjin, yang yuwanauthorised representativei

11、mportant informationit is very crucial for you to recognize the importance of this soa (statement of advice), and there have some relevant recommendations included in it. therefore, before you want to make decisions, you must make sure you have read this soa carefully. if you have any questions abou

12、t any information in this soa, please discuss them with your financial advisors on time. in this report, you will be suggested to purchase investment or insurance products, which regulated under the life insurance act. please note that for all of products contained in this soa, a 14-day cooling-off

13、period applies following receipt of the policy documentation. within this period, you will not get any penalties if you want make some changes.before you make decisions about the advices or recommendations in this soa, you would better to discuss this soa with your other professional advisors which

14、are in different areas, such as accounting, tax and so on.scope of our adviceyou will receive a statement of advice whenever we provide you with any personal financial advice. personal financial advice is recommended though considering any all your objectives, financial situation and needs.the aim o

15、f statement of advice is communicate advice and recommendation concerning the financial affairs of you. all information in this soa is all based on what you provided to us. also, it include this information about remuneration including fees, commissions, and other benefits, and any interest, relatio

16、n or associations which might impact on the giving of advice. please let us know, if you find some wrong information in this soa.if this statement of advice do not include all your relevant information, or you have not agreed all recommendations and advices for the reason that you think some product

17、s, investment plan or insurance policy may not meet your needs and goals. so you must assess whether the advice is appropriate according to your investment objectives, financial situation or needs.you have permit us have not placed any limitations which we give you recommendations and advices in thi

18、s soa. you wish we can review your real financial position prudentially. you should understand all documentations we have given you, such as any product disclosure statements, financial services guide and our privacy policy statement.the recommendations in this report are only valid for 30 days from

19、 the date of this statement of advice. because financial assumptions used to develop this plan may changes very rapidly, for example, changes in your situation, financial market, and legislative conditions and so on. if this plan is not being acted within one month, it is necessary for us to review

20、all the recommendations and advices in this plan. based on current, and what we believe to be reasonable, assumptions about future returns, we have set our projections in this soa. however, we can not guarantee you can get specific return of invested capital or any payment of income. if the economic

21、 conditions changes a lot in future, your capital and income returns may suffer a big influence from those changes.all information of this soa are all based on our understanding of present taxation law and assumed that this will not change. nevertheless, because we are not specialists in some other

22、areas, such as tax, you should get some professional advices before you make any investment decisions or engage in any strategy. fees and commissions and any interests or association which might have some impact on the recommendation we have provided to you, are included in this soa. executive summa

23、ryin this section, a summary of your financial plan is provided to you. it is very crucial for you to read this plan in full, and understand all the information in this plan. if you have some questions, please inform us.your current situationjacob and kathy, you are in the process of paying off your

24、 mortgage. jacob, you run a small business with your partner peter. kathy, you work full-time as an accountant in a local delivery company, and you can get some income from the private child care minding work. tim, your youngest child, attends private school. matt is a student in monashi university

25、for his first semester. jacob, you pay your own superannuation account by yourself, and you have shares which valued $70,000. kathy, your superannuation savings are in your employers superannuation fund. you have $18,000 in your saving account and you and matt are jointly hold a saving account with

26、a current balance of $25,500. both the saving account is available to invest.your financial goals jacob and kathy, your main goals are to:¨ continue to pay for education for both children until they all finish their bachelors.¨ jacob, you want to renovate the house which is expected to spe

27、nd $80,000.¨ buy a new car for kathy ($18,700 over the sales proceeds of your existing car)¨ pay off your mortgage as quickly as possible but certainly before retirement.¨ you want to pay less tax and keep your finances easy to manage¨ retire debt-free when jacob turns 58 on an i

28、ncome of $41,000 in todays dollars indexed to inflation. jacob would consider working until age 60.¨ use available cash to further your goals: kathys $18,000 savings, your common saving account balance of $25,500, and the proceeds of selling jacobs share portfolio.¨ put a will and any othe

29、r legal arrangements you require in place.¨ maintain an emergency fund of $10,000.our recommendationto meet your financial goals, we are strongly recommending you to increase superannuation and your savings, purchasing suitable insurance and establish an estate plan which can protect your child

30、ren. also, you should change your investment portfolio. below is a summary of our key recommendations: · kathy considers salary sacrificing on super contributions for $10,000. you have relatively high net savings capacity which is 89,385. therefore, we think the amount of salary sacrificing is

31、appropriate.· the fund in saving account should be invested in a cash managed trust. also, because kathys income is relatively low, and you have lower margin tax rate than jacob, the account in a cash management trust should opened in kathys name. we recommend you open an axa cash managed trust

32、, kathy will get 4.5 per cent return rate. the product disclosure statement is provided with the soa.· kathy can take $21,000 of the money from their net income to purchase her new car without any debt.· jacob, because your share portfolio does not have relatively high return and it not re

33、ally accord with your risk tolerances, we suggest you sell these share.· jacob to make a $18,000 personal contribution into super fund annually and claim a tax-deductible contribution into superannuation· because tim is only 8 years old, in future 14 years, you have to spend lots of money

34、on his education. therefore we recommend that you should put $10,000 in education bands to fund tims future education.· you should set a $10,000 emergency fund, and the money is all from your net income this year. · we recommend you to pay your mortgage weekly. in that way, you will have t

35、o pay more than before. however, your mortgage will be paid off in 10 years, and you will save $103,213 in interest payments. your payments will be $1026 per week.· the share portfolio should be sold and the proceeds used to fulfil other financial goals· we will recommend you to implement

36、an insurance plan, however, you need to review it on the help of an insurance specialist· we will recommend you to have a suitable estate plan, and we will explain for you about why it is necessary to have an estate plan.expected outcome· your mortgage will be paid off in 10 years.· t

37、ims and matts school fees or university fees will be paid from cash flow. also, the education bond will fund their university costs.· kathys superannuation fund is expected to exceed 0.5 million. · jacobs superannuation fund is expected to exceed 0.6 million by his retirement date.· y

38、ou will maintain an emergency fund of $10,000 in todays dollars.· you can get relevant insurance to insure your family situations.· you will have an estate plan that meets your ongoing and changing requirement.· kathys saving fund is will increase to around 100,000.· jacobs savin

39、g fund is will increase to around 120,000.however, you must know that these outcomes are all based on our assumptions what we have mentioned in this plan. personal changes and the whole financial market changes may happen, and it may impact on our returns from this plan. therefore, our financial adv

40、isor pty ltd can not guarantee to the outcomes of any recommendations in this plan, however, we will review your plan on a annual base, and make sure the plan is on the right track. table of contentsexecutive summary4your current situation4your financial goals4our recommendation5expected outcome5ass

41、umption8return101. your details11current situation11your financial goal12your cash flow13issues and concerns15assumption used to develop this financial plan152. protecting you and your family162.1 personal protection162.1.1 life insurance needs assessment172.1.2 income protection insurance182.1.3 to

42、tal and permanent disability182.1.4 trauma insurance192.2 protecting your property202.2.1 house and content202.2.2 motor vehicle212.3 legal liabilities212.4 summary of recommendation223. investment plan234. estate plan295. retirement plan316. summary of recommendations357. meeting your lifestyle nee

43、ds378. benchmarking your progress389. implementation schedule4010. review of fees and charges4211. disclaimers4212. disclosure of capacity4313. reference4514. appendix46assumptionthere are 4 main factors which may affect your financial plan. they are inflation rate, australia bond price, interest ra

44、te, stock market index. 1. inflation level(trading economics, 2012)as you can see from the bar chart, the inflation rate has a downward after october in 2011, and the month of july in 2012 is 1.2% which is the lowest since 2011. (trading economics, 2012) based on the fisher effect, the low inflation

45、 may result low nominal interest rate. therefore, the inflation rate is likely to remain at a low level. in this soa, we assume the inflation rate is 1.5%2. the government bond yieldas you can see from the line chart below, the australian government 10yr bond has become lower than that in 2010 and 2

46、011. in june, 2012, the rate even dropped to the lowest record of 2.8 %.( trading economic, 2012)3. interest rateeffective datechange in cash ratepercentage pointsnew cash rate targetper cent5 sep 20120.003.508 aug 20120.003.504 jul 20120.003.506 jun 2012-0.253.502 may 2012-0.503.754 apr 20120.004.2

47、57 mar 20120.004.258 feb 20120.004.257 dec 2011-0.254.25source: rba, 2012usually, the cash rate can be a good indicator for the expectation of interest rate, and other interest rate such as deposit rate. based on the cash rate form above, in the last 3 months, the change in cash rate still the zero,

48、 therefore, the interest rate is likely keep at the current level which is a little lower than the mid-term average level. in this financial plan, we take 4.4% as the deposit interest rate in 2012.4. the stock market indexthe stock market fluctuation may affect your investment option and the investm

49、ent portfolio. as we can see from the line chart below, we can find that the stock market is rebounding slowly after the bottom number on july 2012. returngenerally, the investment portfolio would include the five main parts, which are cash, government bond, term-deposit, superannuation and shares.

50、we will should you the average return and risk for each part.cash- when you hold cash, they are nearly no risk to loss it. however, with the changes of inflation, the value of cash will change. government bond- the rate of government bond is 4.5 % on average. it has low risk for the reason that it h

51、as the guarantee of government.term-deposit- according to the interest of australia, the average interest rate is 4.4%. comparatively, this is stable and the risk is low. in addition, if you save money for a long term, you can get higher interest rate.superannuation- generally, the return of superan

52、nuation is relatively low. but you can give benefits if you put money in your superannuation account, because the average tax rate of superannuation is only around 15%. the risk of it is low, because the government has very strict supervision on it. therefore, the superannuation is a fairly importan

53、t part of retirement plan. share- the share market always fluctuating every day, and it will bring you more risk if you hold share. however, the average return is higher than most of financial instruments.1. your detailsin this section we will show your personal and financial details. it is fairly c

54、rucial for you to read this section carefully. if there are some wrong dates here or any important data missed, it means the advice is not appropriate for you.current situationjacob and kathy, you are a young couple with a number of years remaining until you intend to retire. now, you have focused o

55、n reducing your mortgage to $120,000. your house is valued $580,000, and your monthly mortgage payment is $3,500. you like live in this house, and do not intend to buy a now one.jacob, you run a small business with your partner peter. your small business ran very well now. you can get a stable incom

56、e of $190,000 from your business. you pay your superannuation account by your self, and the current balance is $110,000. also, you have a car, which valued at $18,700. you have shares of $70,000. it pays dividends of 3.5 per cent, fully franked.kathy, you work as an accountant in a local delivery co

57、mpany which pays her a salary of $60,320 per annum, and you have superannuation savings within your employers default superannuation fund, invested in a balanced fund option, and the balance is $70,500 now. you could also select a balanced growth fund or a growth fund. also, you also do some of priv

58、ate child care minding work, earning on average $180 per week. you always put this money into a savings account in her name, and the balance is $18,000, which is currently earning 4.4 per cent annually. your youngest child, tim, attends a private school. he is in the second grade (aged 8). the tuition fees this year is total $16125. in addition, these fees are indexed wi