American Cultural Myths Essays -- ideal families, ideal lifestyles, id

The United States and cultural myths pertaining to this country have been a topic of discussion for many years. Stephanie Coontz’s â€Å"The Way We Wish We Were†, David Brooks’ â€Å"One Nation Slightly Divisible† and Margaret Atwood’s â€Å"A Letter to America† are all essays about different American cultural myths. Each author focuses on a different cultural myth that pertains to the United States. They explain how these myths are thwarting a realistic view of America. As well as changing the perception of the country as a whole. The major cultural myths of America among the texts are about â€Å"ideal families†, â€Å"ideal lifestyles, and a â€Å"ideal country.† Many couples in the United States idealize the myth of a â€Å"tradition family†. The idea that a woman can spend quality time with her child while maintaining an effective sexual life with her partner seemed to have caused a lot of stress during the 1950s. Coontz’s says â€Å"this hybrid idea drove thousands of women to therapists, tranquilizers, or alcohol when they tried to live up to it.† (Coontz, 569). Which explains that it is merely impossible to try to mold a family to be â€Å"ideal.† Many families still strive for a traditional life, which they define as life â€Å"back in the day.† They need to forget the past and start living in the 21st century. â€Å"Two-thirds of respondents to one national poll said they wanted more traditional standards of family life.†(Coontz, 582). Which goes to show that many families want to change to what once used to be perceived as an â€Å"ideal family† but â€Å"the same percentage of people rejected the idea that women should return to their traditional role.†(Coontz, 582). Families want to take bits and pieces from what used to be â€Å"traditional families† over time and create their own i... ...United States once had amongst the world has lessened, which is also why seeing America as an ideal country would be thwarting a realistic view of the country. If the United States just takes a step back from trying to be the most dominant country, it can regain its status among other nations. Stephanie Coontz’s, David Brook’s, and Margaret Atwood all discuss American cultural myths in their respective essays â€Å"The Way We Wish We Were,† â€Å"One Nation, Slightly Divisible,† and â€Å"A Letter to America.† All three authors elaborate on specific cultural myths, whether it is about an ideal family, an ideal lifestyle, or an ideal country as a whole. As a result of analyzing the three texts, it is clear that the authors critique Americas image in their own was. As well as elaborate on why the realistic view of the United States is being squelched by major cultural myths.

The History Of National Curriculum Education Essay

First and first, I am Rubatarshne d/o Vasu as a pupil from Kirkby International College would take this chance to show my profound gratitude and deep respects to my guide Mr. Danapalan for his model counsel, monitoring and changeless encouragement throughout this assignment. The approval, aid and guidance given by God towards my assignment enable me to finish my assignment successfully. I would besides wish to thank my friends in assisting me by giving support. In this assignment I have gain abundant cognition and experiences. I have increased my degree of assurance when I met headmistress, senior aid and instructors. As a hereafter instructor, I besides learned that there are two types of activity that had been conducted in school which are school activities and category activities. Besides that, a strong bond of relationship formed between me and my former instructors. I would wish to thank one time once more to my lector for giving me a undertaking sing on National Philosophy of instruction ( NPE ) . Last, I would wish to thank to my instructors that willing to pass clip with me to carry on interview. Teachers such as Mrs. Vasugi, Mrs. Chitra and Mrs. Devanagi from Sekolah Jenis Kebangsaan Tamil, Hicom, Shah Alam and Mrs. Rahinun bt Mohd Noor from Sekolah Kebangsaan Taman Uda, Alor Star, Kedah Darul Aman. I learnt about their instruction and acquisition method which will be utile for me in hereafter.ContentSubjectPageNational Philosophy of Education ( NPE )Elementss in NPENational CurriculumKBSR AND KSSRSchool ActivitySport ‘s Day Motivational talk Qiamullail Excell plan Gotong-RoyongClass ActivityRole drama Playing games Spelling modus operandi Q & A ; A activity Lady BirdDecisionAppendixMentions1.0 National Philosophy of EducationEducation play a polar function in Malaysia particularly politically, economically, and socially of all time since the independency of Malaya in 1957 and the formation of Malaysia in 1963. Since so, several instruction policies were being drafted and altered to run into the instruction demands of the people of Malaysia from clip to clip. In 1988, National Philosophy of Education ( NPE ) was formulated based on thoughts and rule of policy paperss. It is guide for all educational activities in Malaysia and sets the values and rules of the Malayan instruction system from primary to the third degree. ( NPE ) consist of several elements to bring forth persons who are intellectually, spiritually, emotionally, and physically balanced and harmonic. The first component of ( NPE ) is instruction as an ongoing attempt that geting and reassigning cognition accomplishments and baronial values which start from an early age boulder clay decease. It is critical to determine personality of kids which will help them to accommodate assorted types of alterations. Following, is ( NPE ) besides develop single potencies. Each human being has their ain hidden endowments which can be nurtured and developed, abilities that should be tapped, and enhanced through societal interaction with environment. Belief and obeisance to God is another component of ( NPE ) which 1 must acknowledge the being of God and accept him as the Creator. Every person should be to the full responsible for his workss and actions. The last component is to bring forth knowing Malayan citizens. We as a Malayan citizen should hold love for cognition and strive to further cognition and implement reading civilization in our day-to-day life. So, it clearly shows that if each and everyone in the instruction fraternity uphold ( NPE ) when transporting out their undertakings with full duties, our educational ends will go world.2.0 National CurriculumThere are three clip types of alterations in course of study such as Old Primary School Curriculum ( KLSR ) before 1982, New Primary School Curriculum ( KBSR ) and Standard Primary School Curriculum ( KSSR ) .Firstly, Old Primary School Curriculum. ( KLSR ) was implemented since the state attained its independency. In 1960, the Subject Review Committee has been established is besides known as Rahman Talib Report. In add-on, this degree of instruction system is oriented to the eradiation of illiteracy. Traditional schoolroom is a topographic point where a group of pupils will follow the acquisition procedure. In this type of schoolroom, pupils normally sit in the order o f chairs and tabular arraies that are arranged line by line. For case, pupils who are tall should sit at the back whereas pupils who are short or have hapless seeing should sit forepart. In conformity with the facets of Rahman Talib Report, all pupils must go through in Bahasa Melayu public scrutiny which the paper is written in Malay Language. It aims to further integrity among multiracial society. Following, is New Primary School Curriculum ( KBSR ) which was implemented in 1982 as a test footing of new course of study. So, in 1983 authorities to the full implemented Integrated Primary school Curriculum which besides known as ( KBSR ) . The course of study design based on three countries which are communicating, adult male and environment, and development of single ( KBSR ) emphasizes pupils survey in group and interaction between instructor and pupils, pupils and pupils are really stressed in this ( KBSR ) . In footings of learning schemes, student-centered is actively attack in the procedure of instruction and acquisition. This is because it raises an interesting environment in schoolroom and stimulates the procedure of instruction and acquisition. The rating in ( KBSR ) emphasize in basic accomplishments ( 3R ) that pupils should be mastered which are unwritten, reading and composing. Students who could non get the hang any topics, the pupil will be sent to remedial categor ies. RemedialA categories are frequently used to emphasize the rudimentss in a topic such as math or linguistic communication. Last, Standard Primary School Curriculum ( KSSR ) course of study design based on six spikes which are communicating, spiritualty, attitudes and values aˆâ€ ¹aˆâ€ ¹of physical and aesthetic development of humanistic disciplines, scientific discipline and engineering and visual aspect. From 2011, the primary school course of study start to use ( KSSR ) which involves alterations in design, organisation, content, teaching method, clip allotment, assessment methods, stuffs and direction of the school course of study. ( KSSR ) emphasized the usage of different learning attacks larning ( P & A ; P ) that give more accent and impact on pupils. For illustration, instructors teach the pupils by nearing to inquiry findings, solution and job, constructivism, contextual, learning based on future and larning based on undertaking. Therefore, the three elements of value was added and introduced in the ( KSSR ) the component of creativeness and invention, entrepreneurship, information and communicating engineering ( ICT ) . In short, alterations in the epoch of globalisation require a alteration in the balance of the instruction course of study like ( KLSR ) before 1982, ( KBSR ) and ( KSSR ) .These alterations improve the quality of primary instruction to be more relevant to the challenges of the present and of the twenty-first century. It is really critical to carry on activities harmonizing to ( NPE ) particularly in schools and universities and ushers to a standard course of study. By implementing the course of study efficaciously in schools, it can develop the pupils cognitive, affectional and psychomotor ( physical ) with other potencies ( JERIS ) in pupils. Here, there will be ambitious unit of ammunition among pupils to vie each other. By implementing activities which are in incorporate mode will do the pupils to believe out of the box.3.0 School ActivityRecently, I have interviewed schoolmaster and senior aid in two schools which are Sekolah Kebangsaan Taman Uda ( SKTU ) at Alor Star, Kedah and Sekolah Jenis Kebangsaan Tamil Hicom ( SJKT ) at Dengkil, Selangor. The intent of these interviews is based on the national course of study of the school which reflects the aim of ( NPE ) . Harmonizing to the interviews that conducted in both schools, I identify that there are two types of activities are organized in schools which are school based activities and schoolroom activities. Assorted types of activity that are organized in school aligned with ( NPE ) . There are five chief activities that carried out in school like Sports Day, Motivational Talk, Qiamullai, Excell Program and ‘gotong-royong ‘ . First and first, Sports Day is carried out during the month of February yearly. All the instructors and pupil from Standard 1 until Standard 6 are involved in this activity. A few hebdomads before Sports Day, pupil start to give their names for participate events like high wide leap, 100m race, ‘shot put ‘ and others. After the school hours, pupils will get down to pattern the activities at school field. The importance to form this activity is to develop pupils who are healthy. Sports can construct up musculuss and castanetss which finally will do the pupils to go healthy. Sports twenty-four hours is the clip where pupil is taught and expose toA assorted types of athleticss and larning to be cooperate in squad games, be discipline as to follow the regulations for each game or athletics and so much more. Sports are a really healthy activity that can maintain away a batch of unneeded disease such as corpulent. Students can keep their personal wellbeing which is aligned with ( NPE ) . This activity can assist to develop psychomotor accomplishments in pupils. Another activity that was conducted in school is Motivational Talk which was given by the Sir Ismail who is one of the counsellors in that school. This talk is to provide the stableness of pupil ‘s emotions and self direction for their excellence. All pupils are involves in this talk and given cognition to fix themselves for tests. It is carried out in three stages which are larning techniques, clip direction and emotion control. Students take the importance key characteristics and seek to better ego failing and doing utilize the strength to guarantee excellence in their pupils. This activity helps to bring forth pupils who are high moral criterions and responsible which is in lined with ( NPE ) . Here, pupils can stabilise their emotions in a right way. Qiamulail is besides one of the activities that were conducted in schools. All the Muslims pupils were involved in this activity while non-Muslims pupils were involved in Moral category. Muslims pupils stayed in inn for one twenty-four hours to finish their supplications. Their supplications will get down at early in the forenoon which is at 4 in the forenoon and ends at 5 in the eventide. This activity brings a strong religious life and is a manner to acquire closer to God which is extremely demanded. The pupils besides have an chance to construct the spirit of appreciating faith and have faith in God. This activity mould pupils to believe in God as stated in ( NPE ) . In this activity, pupils can high spiritualty within themselves and avoid them to affect in immoral activities. Activity like ‘Excell Programs ‘ which is mean by excess categories are organized in school. Engagement of all pupils is mandatory for this activity. It has two stages which are boring pupils understanding in each chapter and techniques to reply inquiries. Phase 1 is to better pupils ‘ apprehension in each chapter so that they can understand and execute good in tests while stage 2 is to give them the correct schemes to reply the inquiries harmonizing to exam criterion. Phase 1 is done with the aid of instructors at category after completing each chapter. Phase 2 is carried out after the concluding appraisal. The instructors will give proper techniques of replying to each topic. Here, the pupils will get the hang the replying techniques when they were given to reply past twelvemonth inquiries and exercisings. Those pupils who improved in a peculiar topic they will be given wages by the schoolmaster. This will make enthusiasm in larning. Here, pupils improve their cog nitive accomplishment which helps to bring forth pupils who are knowing and competent as stated in ( NPE ) The last activity that was conducted is ‘gotong-royong ‘ . The spirit of gotong-royong is a nucleus of civilization that pupils should follow. Students were divided into groups to clean different types of country in schools like filed, garden, schoolrooms, hall and others This activity was held to nurture pupils to well-behave, co-operate with others, love and responsible to take attention of their school, and to give consciousness to pupils about healthy organic structure, head and environment. After the gotong-royong event, pupils will pick up trash on the floor anyplace in the school if they see it. It is of import that cleanliness and beautification will maintain the environment to be contributing and comfy so that the instruction and acquisition procedure would be more effectual. Besides, the activity really is in line with ( NPE ) which is to bring forth balanced person from the facet of emotional. They love and appreciate the school, the nature, have a sense of bel onging and solidarity and in conclusion they will go mature in thought.4.0 Class activityBesides school based activities, there are besides schoolroom activities which are effectual to pupils. Classroom activities should be built chiefly on making chances for pupils to show and understand meaningful linguistic communication. However, the activities are based on form-focused direction and disciplinary feedback which is indispensable for the development of pupils in the schoolrooms. Lesson program is the usher for instructors to fix activities for pupils and set assortments in order to make merriment larning environment. The activities that conducted in the category are function drama, playing games, spelling modus operandi, Q & A ; A activity and Lady Bird. The most interesting activity that pupil enjoyed is function drama. Role drama is an built-in portion of the course of study for speech production and hearing. The usage of function drama provides pupils to develop speech production and listening accomplishments when they speak as a character, program scenes, use duologue and measure their ain public presentation and that of others. For case, the instructor wants to learn about business. The instructor can inquire their pupils to move a instructor, physician, tradesman, attorney and others. Here, pupils will brainstorm their thoughts to move as one of the business. Students get to wider their cognition and experiences when they start to prosecute with other pupils while utilizing marks, props, bill of fare, and so on. The school instructor besides states that this function drama activity can construct pupil ‘s assurance degree when pupils are brave to show in forepart of their friends. High moral criterions can be created among pupils to model good behaviour and bring forth personal wellbeing as stated in ( NPE ) Another amusing activity that carried out by instructor in schoolroom is playing games. There many types of games that pupils participated which were saber saws mystifier, on-line synergistic games, word a twenty-four hours and others. These games are great exercising for encephalon. It helps the pupils to better their memory, spacial and pattern acknowledgment and spelling accomplishments. Game like word a twenty-four hours can make a reading environment in the schoolrooms. Students were told to convey newspaper cutting during English category. First, pupils were given instructions by instructor to look for word which they do non understand. After that, they have to look up for the significance in dictionary and build them into sentences. In this activity, pupils who collect a batch of words will be given award as a item of grasp. Besides that, this activity besides emphasizes pupils to read independently and wider their cognition in footings of vocabulary. Teachers and pupils are s eting their attempt as ongoing attempt for excellence in order to bring forth knowing Malayan citizen as stated in ( NPE ) Following, is spelling everyday which is conducted by instructor in the schoolroom. The most helpful manner of giving spelling is to compose the word down for the pupils utilizing the ‘look, screen, write, look into ‘ modus operandi which is originally devised by Peters and Cripps ( 1980 ) . First the instructor writes the word for the pupils to look at the word and to memorise it. This can be done by following or copying it. The right version is so removed or covered and asked the pupils to compose the word from memory without any aid. The pupils ‘ spelling is so checked against the right version. If the spelling is right, pupils can integrate the word into their authorship. If the word is wrong when comparing the two versions, place where the job lies and reiterate the whole process. This scheme helps pupils to memorise the correct spelling by looking at the whole word. Besides that, it helps pupils to acquire the overall ocular form of the word which they can eas y retrieve it. This activity helps to bring forth Malayan citizens who are knowing and competent as aligned with ( NPE ) . Another activity that can transport out in category is Q & A ; A activity which is base for inquiry and reply. This activity is organized it is easy to be carried out in the category but the activity is able to make the two manner interaction between instructor and pupil expeditiously. The inquiries given by instructor require pupils to believe and able to measure what has been taught by instructor during the lesson. In add-on, the inquiries must be organized and good quality because it will assist pupils to sharpen their thought every bit good as to make more dynamic and effectual acquisition environment. For case, teacher gives inquiries sing on Mathematic topic. Teacher can change the inquiries into nonsubjective and subjective signifier which will measure pupils ‘ thought accomplishment. The purpose of the activity is to promote pupils to believe creatively, advanced, logical and critical thought in line with National course of study which is to mold pupils ‘ behaviou r and thought from the facets of rational. Last but non least, the activity that carried out in category is Lady Bird. This activity creates for pupils who are slow scholars. It is one the manner to catch slow scholars ‘ attending to analyze smart. Teacher lays a critical function here by giving eternal support to pupils as they can be a good scholar like others. First, it is conducted by supplying a text with figure of inquiries. The inquiry should change from 3 degrees of facets which are easy, mean and difficult. Students need to seek for cardinal words in the text and high spot or underscore the key features that enable them to reply the inquiries. Students who are fast scholar will be junior instructor for those who are slow scholars. Slow scholars will experience free to inquire inquiries or elucidations to their friends without vacillations. After this session carried out, there are slow scholars who are able to read after involve in this activity for three months and showed addition in each school scrutiny. This activity persist in ( NPE ) by a least figure of slow scholars which will lend in bring forthing literacy state in Malaysia.5.0 DecisionIn decision the National doctrine of Education ( NPE ) gives a really large impact on the development of instruction that involves the ministry of instruction, formation of assorted new constructs in instruction, course of study, co-curriculum, schools, instructors and pupils. Overall this causes a great betterment of the citizen of the state as reference in the ( NPE ) in the formation of balanced and harmonious persons physically, rational, emotional, spiritually and socially, citizen that lives in harmoniousness, believes in God and others. As a hereafter teacher we should use ( NPE ) in learning and larning procedure so that it produce a better Malayan citizen.6.0 AppendixNameBIODATA176.JPGMRS VASUGI45 Old ages OLDSEKOLAH JENIS KEBANGSAAN TAMIL, HICOM, SHAH ALAMHeadmistress15 Old ages OF Teaching Experiences180.JPGMRS. CHITRA30 Old ages OLDSEKOLAH JENIS KEBANGSAAN TAMIL, HICOM, SHAH ALAMSenior ASSISTANTS5 Old ages OF Teaching Experiences184.JPGMRS. DEVANAGI35 Old ages OLDSEKOLAH JENIS KEBANGSAAN TAMIL, HICOM, SHAH ALAMENGLISH TEACHER10 Old ages OF Teaching ExperiencesDSC_0095 – Copy.JPGMRS. RAHINUN BT MOHD NOOR58 Old ages OLDSEKOLAH KEBANGSAAN TAMAN UDA, ALOR STAR, KEDAH DARUL AMANHeadmistress38 Old ages OF Teaching Experiences

Financial Planning (Insurance) Case Study Essay

Allison has recently been promoted by her employer, Best Marketing, and now earns $135,000 p. a. working full time. She has commenced salary sacrificing 30% of this amount into superannuation, and her employer contributes Superannuation Guarantee Contributions of 9% of her remaining cash salary. The fund is a balanced growth retail superannuation fund, MM Superannuation. Her current balance is $160,000 and earns on average 7% p. a. after fees and taxes. She also has $100,000 in term life and TPD insurance cover within her superannuation fund. She drives a 4-year old Land Cruiser that is fully paid for. It has low kilometres and she expects to keep it until she retires. She will then need $30,000 to purchase a new car on top of the trade in she expects to receive from the Land Cruiser. Simon works for Newbold’s Pty Ltd, a company which makes custom furniture. He earns around $45,000 p. a. and intends doing this work for the foreseeable future. He is supplied with a work vehicle and his employer pays his SGC based on his $45,000 salary. Simon has $47,000 in superannuation savings, held within the PP Superannuation Fund. The funds are invested in a balanced/ conservative portfolio with a low allocation to growth assets that earns around 4% p. a. after fees and taxes. They are living on a semi-rural property which is valued at around $750,000, but they currently have a mortgage of $150,000 as a line of credit. They are paying approximately $1,000 per month as interest-only payments. Their other personal expenses are around $40,000 p. a. and they spend an additional $15,000 p. a. on holidays. Aside from private health cover, car, and house and contents insurance, the only personal insurance they have is the coverage provided in Allison’s superannuation fund. They do not have a will or any powers of attorney but they want to ensure they have sufficient money for their grandchildren (now aged 6 and 4 years) to attend university. They estimate they will need to accumulate approximately $120,000 (in today’s dollars) over the next 12 years to pay for this. Allison wants to work for five or six more years and they wish to pay off the remainder of the mortgage over that time. She also wants to increase the amount of money in both her and Simon’s superannuation. When she retires she believes they will need $40,000 (in today’s dollars) for their living expenses in retirement, but Simon intends to continue working part time and estimates he will earn $20,000 p. a. They intend to use Simon’s income to fund any holidays. Aside from their superannuation assets, they have $9,000 in a bank account for emergencies earning 4% p. a. , $15,000 in a term deposit earning 5% p. a. and $12,000 in a cash management account earning 5. 5% p. . They are not happy with the taxation implications of these accounts, as any interest earned on the term deposit and cash management accounts seems to go in tax. You ascertain that they both have balanced risk profiles. Required: You are required to provide written responses to the following scenarios and questions, either in short answer form or using bullet points (or both). The following attachments are included : †¢ Sample Financial Services Guide (Personal Advice) †¢ Sample Fact Finder and Risk Profile Questionnaire †¢ Sample Ongoing Service Options – Establish Relationship with Client You are preparing for an initial interview with Simon and Allison Callahan. a) Give some thought to the sort of things you would cover. Include any legal requirements and other documentation which may be helpful in the interview. For the initial interview with the clients I would cover what Azza financial services stands for, their commitment to the customer and any legal implications, go over the financial services guide (send out with letter before hand) and privacy policy and compliance. I would also make the customers aware that the information they are providing is to be used solely for the purposes of assessing their situation to help them get to a better financial position. I would allow the customers to do most of the talking, recording their responses in a fact finder, and ask the client to complete a risk profile questionnaire to get a feel for what their financial position is at the present, what kind of expectations they have on Azza financial services, how much risk they are willing to take on and if there is anything about their situation that might prevent Azza financial from providing advice to the client. )How might you ask the client to prepare for the first meeting? By sending a confirmation letter indicating how long the interview will likely be, the purpose of the interview and what is the outcome intended, advising the client if there are to be any fees paid, providing the client with a list of documents to bring (eg current insurance policies, sup er statements, current investment schemes, income and expenses, latest tax returns, valuations of assets such as property, bank and credit card statements. ) To establish a relationship with Simon and Allison, what strategies might you use to build rapport during the interview process? †¢ offer food or drink (eg coffee, biscuits, tea, water) †¢ monitor client body language and engage in similar movements to make them feel more comfortable †¢ ask open ended questions to show clients you are interested in the personally and want to hear what they have to say. d)What are the four points you must cover when presenting a Financial Services Guide? Fees and charges = explain what fees might be applicable, including benefits and commissions that could be received by 3rd parties/referrers or product providers as a result of the plan being implemented †¢ Products = outline the features of the products and services being recommended †¢ Complaints Policies and Procedure s = make sure to completely explain the procedures for handling customer complaints †¢ Relationships = explain any relationships which might influence which products are recommended or provided e)List the type of fees you could charge the clients. What are the benefits of explaining these fees to the Callahans? Types of fees which could be charged to the clients if they choose to implement the prepared plan are: plan fees (often charged regardless if plan is accepted), commissions, entry fees, management fees, account keeping fees. The benefits of explaining these fees to the clients are that there will be no nasty surprises and they will know what they are getting themselves into from the start. It also provides protection for the advisor in the event that the client deems something unreasonable. In other words, there will be no misunderstandings about the possible cost of advice. )Nominate the range of financial products and services you will be providing advice in. Name the benefits of explaining these to your clients. The financial services and products which I could be providing advice on range from simplistic things such as bank deposit accounts to general and life insurance, complex and simple investment schemes, general and specialized superannuation schemes, estate planning issues (although a lot will be directed to a solicitor if I am not qualified to provide advice on that particular area, the same goes with taxation). The benefit of explaining these to the client is that they will be more aware of what it is Azza financial services can help them with, and if they will need to be involving any third parties to complete their requirements (eg accountant or solicitor). It also takes away any misconceptions as to the outcome of the advice provided and puts everyone on the same level expectation wise. The clients also may not have been aware of particular products and services offered which once explained may change their needs and requirements which might have not previously been considered by the client. )Outline the three steps your clients should take if they have a complaint or dispute prior to contacting the ASIC. †¢ Clients should first contact their advisor to make sure that their disatisfaction is not due to a misunderstanding or something which can be ammended to their satisfaction. I would endeavour to solve their complaint within 3 working days. †¢ If the clients are still unhappy , they should lodge a formal complaint with the liscensees internal complaints process and allow appropriate time for this to be acted upon. If the clients are still unsatisfied with the outcome they may then contact the Finance Industry Ombudsman Service (FOS) for complaints involving losses of less than $500,000. FOS first trys to negociate and outcome between the involved parties, if this is not possible the matter is passed for formal assesemnt by a panel. FOS is free to clients and the decisions it makes are law to the liscensee. 2-Identify Client Objectives and Financial Situation a) What techniques or tools could you use to gather further information about your client’s goals, objectives and financial situation? Fact finder †¢ Financial documentation – tax returns, statements, scheme overviews etc †¢ Use of open ended questions †¢ Diagnostic questionnaires †¢ Risk profiling b)Using your case study, complete the attached Fact Finder with as mu ch information as you can. Remember that this document is used to collect current information as well as identify any issues, problems or constraints that may be relevant in developing your advice. See Fact Finder i)From the scenario in your case study, write down one or more specific financial goals for the generic needs provided. Wealth creation for a specific purpose |Start increasing Allison and Simons Super balances ($160K and $47K) | | |Pay for grandchildren’s university in 12 years – estimated needed | | |$120K in today’s dollars | |Wealth protection |Take out Personal insurances to avoid eroding savings if something | | |unforeseen happens – income protection, trauma, evaluation of current | | life and TPD | |Debt reduction |Pay off IO mortgage of $150K in 5 years | |Tax minimization |Save on tax on bank accounts/term deposits | | |Possibly downsize family home and move mortgage to investment property| | |to save on tax | |Superannuation |Start in creasing Allison and Simons Super balances ($160K and $47K) | | |and evaluate suitability of current funds | |Investment Planning |Possibly purchase Investment property to produce another income stream| | |and save on current tax | | |Look into other investment options to diversify current wealth | |Estate Planning |Establish will and power of attorney with solicitor | c)Write down a line of questioning that you would use in the initial interview to increase your understanding and obtain further clarification of the client’s goals and objectives. Use open-ended questions starting with What, How, When, Why and Where. †¢ Apart from what we have already discussed, tell me about any other goals, long or short term that you might have. †¢ What do you plan to do when you retire? †¢ What is your current state of health? Eg do you smoke, are you aware of any issues that could affect your ability to work? †¢ Simon, what sort of duties do you perform at work? (- for insurance purposes we need to ascertain what type of work Simon is doing in order to now which category he fits, A/B/C? ) †¢ What are the contact details of your accountant? (- Financials) †¢ If you have a solicitor, what are their details? power of attorney, will) †¢ What are your plans/goals in relation to the planning of your estate? †¢ Tell me what other possible financial details you could have overlooked in filling out the fact finder? (- no credit cards? No shares or any investments outside of super and regular bank accounts? ) †¢ What level of cash reserve do you feel comfortable keeping liquid for emergencies, and are you expecting to receive a lump sum of money in the future? †¢ What are the premium details of your current life and general insurance policies? †¢ When are you considering downsizing the family home, if at all? d) What action would you take immediately after the first meeting? Immediately after the first interview I would Clearly write down everything which needs to be investigated or researched, in relation to what types of products, tax issues, possible strategies, the sources of information and a timeline for completion. This is so that I can prove I have been compliant with the corporations Acts requirement of investigating the ‘subject matter of the advice’. I would ask the clients to sign an authority accepting the preparation and research of drawing up a financial plan and agreeing to pay any fee which may be incurred as a result of this advice. e) Simon and Allison have a ‘balanced’ risk profile. Complete the sample Risk Profile Questionnaire to reflect this. See risk profile 3- Analyse Client Objectives & Financial Situation Will Simon and Allison’s current financial circumstances and other concerns meet their objectives without your assistance? a) Why/why not? No, Simon and Allison’s current financial set up is not adequate to allow them to meet their goals and objectives. This is because they are note contributing enough in their superannuation to achieve their desired balances, they do not have any estate plans in place, their current bank accounts are leaving them paying excess tax, they are not sure how to structure their expenses in order to reach a comfortable position upon retirement in 5 years time, and their personal insurance are grossly insufficient to keep them in their current lifestyle and meet expenses should something happen to one of them. ) List the assumptions you made. †¢ Allison and Simon do not have current solicitor whom they have talked about creating a will or power of attorney with †¢ Allison and Simon are of average intelligence and have not had much to do with Financial planning services in the past. †¢ Allison and Simon do not know much about investment schemes, Superannuation regulations, Life insurance or Taxation †¢ Allison and Simon have used an Accountant in the past to prepare their yearly tax returns †¢ The average expected rate of return is 6% †¢ Expected CPI is 3% and current tax rates have been used. c) Reference information sources that you have relied on in forming your view. RG146 training Australia DFS course material and scenario †¢ Australian Taxation Office website (www. ato. gov. au) †¢ Financial Planning association website (www. fpa. asn. au) †¢ Westpac and BT Financial group case studies (internal) 4 – Develop Appropriate Strategies & Solutions a) Describe two research processes you can use to gather information about products and services you recommend to your clients. †¢ Independent research houses (eg Standard and Poors and Morning Star) †¢ Internet sear ches eg ASX, AFPA, ATO etc †¢ Product disclosures, rankings, past performance of companies, Financial review newspaper etc Refer to your case study, Fact Finder and Risk Profile Develop a strategy for each of the following points for Simon and Allison. Describe each of your strategies in terms of key characteristics, advantages and disadvantages. b) Please address Allison’s insurance requirements. Your response should include a brief description of each type of cover and actual amounts recommended. Include calculations and explanations of amounts. †¢ Term Life: – term life insurance provides a bulk payment to the beneificiaries of a person upon their death, or in some cases when disgnosed with a terminal illness the person insured can also received the payment. – offered to people from 16-75 and can renewed until age 99. Can be paid via stepped premiums (where premium increases with age, you pay more in the long run) or level premiums (same amount througout policy, 30% cheaper than stepped in long run, and indexed to CPI) – Advantages of having life insurance are that it gives the insured peace of mind knowing that they are n ot leaving their loved ones in poor financial positions upon their death and ensures they are looked after – Disadvatanges are that there are a few exclusions to the policy such as suicide within first 13 months, War, pre-existing conditions, aids, and terminal illness/disease where it is a direct result from an action which was self-inflicited. – Currenlty Allison has $100,000 worth of life and TPD insurance within her superannuation. In regards to life insurance this is unfortunately inadequate as the estimated living costs for Allison and Simon are $67,000 per anum. In order for Simon to continue meeting these expenses (whilst still working) if allison were to becomed deceased, the insured amount would need to be close to $475,000. This is because if invested at an average fixed deposit rate of 6% it would provide an income stream of $28,500 per anum to Simon. [(475000/100) x 6 = 28,500] – this along with his current net salary of $38490 come to a per anum income strem of $66,990 to meet expenses. An additional $270K should also be added to cover their existing mortgage debt and to have money left over in order to pay for the grandchildrens university education, bringing the total life benefit to $745,000. †¢ Income protection: – A fortnightly or monthly payment paid to the insured in the event that they suffer and injury or illness which leaves them unable to work – Maximum of 75% of income can be insured and person must be employed at least 25 hours per week. Waiting periods of 14-720 dys apply and benefits periods can be 1-65 years (longer the beenfit period the higher the premium) – 2 types of policies are agreed value (specified value to be paid regardless of difference bet ween insureds current and former incomes) indemnity (benefit based on insured income at time of claim. – Advantages are that the insurance provides peace of mind knowing that if the insured was to suffer from an injury or illness and are unable to generate an income that the benfit will be paid as if it were their regular income, giving them peace of mind that they could stay on top of all their financial commitments and goals whilst healing. Disadvantges are that as income protection is linked to employment, those who are unemployed or even those with occupations which are considered too risky are not able to obtain income proteciton insurance. Also, as the benefit is only 75% of income, the insured will be 25% worse off and will need to make sure this will not affect any financial commitments or goals they may have. – Allison currently does not have income protection insurance in place which could end diasterously as she earns 75% of the couples gross income. [(180,0 00/100) x 75 = 135,000)]. Allison should take out an income protection policy with a $101,250 benefit (135,000-25%) which would then provide both her and Simon peace of mind knowing that if anything was to happen they could continue paying their expenses †¢ Total and Permanent Disability: TPD insurance provides a lump sum payment to the insured after a qualifying period (usually six months) when certain criteria is met. – Criteria can be inability to perform own occupation, any occupation, home duties or all duties; these are based on the type of work the insured is in (rated AAA-E) – Immediate qualification for TPD payout if insured looses sight or a limb – Advantages of having TPD is that if the insured suffers a debiltating injury that sees them unable to return to work that they can still meet their expenses – Disadvantages are that it is not available to everyone; a new policy cannot be taken out after 60 and policies already in place automatica lly cease when insured reaches 65. Also unless rated category E, the standard level of cover criteria is ‘any occupation’, meaning that the insured may be able to perform in a role significantly less stimulating, challenging and financilally rewarding which would make them ineglibly to receive a payout even if they suffer a total and permanent diability. – As Allison and Simons expenses are $67,00 p/a and Allisons income protection benefit is $101,250, whilst Allisons still working a stand alone TPD policy would be beneficial for having a lump sum to pay off the exisiting mortgage debt of $150K, have enough money to pay for the grandchildrens university ($120K) and possible medical expenses (another $150K) – totalling a $420K TPD. Another amount for Living expenses should also be considered for the 6 years until retirement ($67,000 x 6 years = $402,000). This brings the total recommended TPD benefit to $822K which could also be bundled as a rider on Allisons life insurance to avoid overinsurrance. †¢ Trauma: – Trauma insurance provides the insured with a bulk payment when they suffer from an illness specified in the policy – Can be bundled with life insurance and a payout will decrease the life policy by the same amount – Available to people aged 16-55, or trauma for children aged 1-12 years ( waiting periods and age limit criteria apply) – Advantages are that as trauma insurance is not related to employment, people with uninsurable occuppations can still generally take out trauma insurance. Also the insurance provides peace of mind knowing that if the isured was to suffer from a specified illness and are unable to generate an income that the sum paid will cover their expenses and ease the financial pressure – Disadvanages are that there are exclusions such as death within 3 to 30 days of trauma event, trauma caused by an ntentional self inflicted injury or attempted suicide and acts of war. – In order to avoid overinsurance Allison should take out around $250K trauma insurance to cover $150K exisiting mortage debt and any medical expenses associated with the event. Allisons Income protection will also most likely be able to contribute towards the benefit amount should a defined event occur. c)Does Simon require personal insurance? If so, what types and how much? Please include reasons and calculations Simon could take out the following polices to provide stability and peace of mind for Allison in the event something should happen to him. †¢ Term Life, Trauma, TPD: As Allisons income (or insurance benefit if something were to happen to her simultaneously) alone can support the couples expenses of $67,000, I would recommend a combined life insurance, TPD and Trauma policy, of $690K for Simon [(salary of $45,000 x 6 years = $27,000) + $150K mortgage debt + $150K possible medical espenses + $120K grandchildrens education = $690,000), so that the mortgage can be paid out, the grandchildrens education can be paid for, any medical expenses which might be incurred can be paid, and a replacement income stream for simon is created leaving allison debt free if something were to happen to Simon. †¢ Income protection: It is my view that Income protection is not necessary for simon as allisons income is more than adequate to support the couple with money left over, however if they did not want to draw on this, an income protection policy could be put in place for 75% of his income. [$45,000 x 75% = $33750 ($33750 / 12 = $2812. 5]. this w ould mean Simons monthly benefit woul be $2812. 5 (75% of his monthly income). D) What is the most efficient way for Simon to contribute to superannuation and why? How much should Simon contribute? As Simon is on the lower end of the income tax scale, it is beneficial for him to make non-concessional contributions into his superannuation as he is eligible for government co-contributions for every $1 he puts in up to $1000. As Allison is on a higher MRT than Simon, if she were to salary sacrifice a larger portion of her income into both their superannuation accounts (shes currently Sacrificing $40,000 into her own, however this could be brought up to $70,000 and then she could sacrifice another $20,000 per anum into Simons in line with their goals of increasing their super balances) they would be paying less tax (as Allison in on the highest MRT and super contributions are at 15%) and they can use Simons income (on lower MRT) to put towards their expenses, thus Simon should not contribute too from his salary above the SG of 9% and non-concessional contributions past $1000 (as his super will be paid in by Allison to achieve the above stated tax advantages). Simon should also switch his investment strategy to a balanced mix as it is too conservative to his risk profile at the present. e)Is Allison contributing sufficient funds to superannuation at this time to meet their retirement objectives? Please explain. To meet their objectives of having $40,000 per anum to live off in retirement, Allison is not contributing enough to her superannuation at this point in time. Allowing for the effects of compounding interest, after 5 years Allison’s superannuation balance would have accumulated to $224,400 (at 7%). In order to provide an income stream of $40,000 Allison will need to bring her balance up to $580,000 by the time she retires in 5 years. This means Allison will need to make up the difference ($580,000 – $224,400 = $355,600) in the next five years. Allison will need to contribute another $30,000 p/a [($355,600/5 = $71,120) – her current Salary Sacrifice of $40,500 = $30,000] to her superannuation to achieve this balance and their retirement objectives. Allisons current total superannuation contributions per anum are $40,500 in salary sacrifice (30% of salary of $135,000) along with a Superannuation guarantee of 9% of her remaining salary ($135,000 – $40,500 = $94,500, $94,500 x 9% = $8505) bringing her total contribution to $49,005. f) Are their additional benefits available to Simon or Allison as a result of your strategies above? By Allison salary sacrificing more of her income she is saving astronomical amounts on tax as the contributions tax is only 15% as opposed to her MRT. As stated previously, Simon will also be eligible for the government co-contributions with his non-concessional contributions. Allison’s income protection policy (and Simons if taken out) are also tax deductible. Simon is also eligible for the low income tax offset of $804 from a maximum of $1350 for income earners of under $30,000. For Simon his amount is worked out with the following calculations: 1. [$1350 – ($45,000 taxable income -$30,000 threshold) x 4% = 546] and then 2. $1350 – 546 = $804) g)What is your recommendation regarding an investment for the grandchildren’s university education? What are the benefits of this investment? For the grandchildren’s education I would recommend investing in a balanced education savings plan (they would need to contribute $7000 p/a (at approx 7%, and with the effects of compounding interest) to reach their goal of $120,000 in 12 years) as the amount invested in taxed at a flat internal company rate of 30% however after 10 years the amounts can be withdrawn for non education purposes tax free, and as the investment is to be over 12 years Allison and Simon could take advantage of this. If it was to be withdrawn earlier, they are still in a good position as the money would be invested with a bit more risk than that of an everyday savings account and the taxation benefits still outweigh other methods, especially with the low income offset which is still said to be increasing. h) Are their bank/cash investments (total $36,000) meeting their requirements? Why/why not? What do you recommend? No, currently these investments are not meeting Allison and Simons requirements as they are held in both names and are therefore subject to Allison’s higher MRT. If Allison and Simon decided to use the advantages provided by income splitting (that is, transferring term deposits and interest bearing accounts into Simons name) then they would save on tax as Simon has a lower MRT. Allison and Simon could also think of putting this money in their Superannuation to capitalize on the 15% contributions tax or putting it into the mortgage as then they are paying less interest, however this would depend on whether or not they would be needing to keep this money liquid for everyday use and emergencies. i) How would you address their goals of paying out their home loan and purchasing the new car upon retirement? In order to pay out their home loan in 5 years time, Allison and Simon would eed to put around $40,000 P/A towards due to interest payable. After Allison’s extra salary sacrificing for both their Super accounts, the couple have around $45,000 surplus disposable income per anum. $40,000 can be used to make these extra payments on the home loan and the other $5000 can be put into a high interest savings account for the 5 years (which if invested at the average deposit rate of 6% will leave them with $29576. 10 after 5 years with the effects of compounding interest) which will leave them with enough money to purchase the new car. j) Are their estate planning preparations adequate? Why/why not? Currently Allison and Simon have no estate plan, therefore it being inadequate. I would recommend to Allison and Simon to contact their solicitor to discuss a will/power of attorney using their information we have uncovered through analyzing their financial situation here today. k)What alternative strategies did you consider? Why did you reject them? Insurance – providing insurances for Simon as well; This would be over insuring and wasting money for Allison and Simon as Simons income in relatively small in comparison to Allison’s, and she is able to cover all costs if something we to happen to Simon. Superannuation – Simon contributing more to his superannuation; the tax benefits of Allison’s salary sacrifice through decreasing her MRT far outweigh that of Simons and it was therefore better to prioritise with Allison’s SS and utilize Simon’s income for expenses. Investments – For the grandchildren’s university education, possibly investing in something more risky (eg shares) or less risky (eg Term deposits) however the tax advantages and return on the educations savings plan in comparison would leave them in a better position. 5 – Present Strategies and Negotiate Solutions Prior to Presentation a)Describe what preparations you would undertake to present your strategies in step 4 to Simon and Allison. After thorough research enabling me to form my recommendations, I would prepare a Statement of Advice with my findings, make sure to gather all product disclosure statements which are relevant, and information to back up my advice. I would also make sure there was a financial services guide within the information I would be taking to the interview. I would then call the clients to arrange a time which suits. b) What back-up information or documentation might you need? I might need to back up the performance of particular products/services I recommend (this could be provided in the form of company reports, asx reports, PDS, articles, academic studies etc) also easy to follow breakdowns of any calculations made so the client can see exactly how the strategy will benfit them. FSG and Privacy policy to assure the client of the companies principles and policies in the event of a dispute. During the Presentation c) Describe the disclosure principles and presentation requirements you must adhere to for the following documents: ? Statement of Advice The statement of advice must have â€Å"statement of advice† written across the front of it, it must be in non complex wording (â€Å"clear, concise and effective manner†), must have a â€Å"generic description of the range of financial products or strategies considered and investigated†¦Ã¢â‚¬ . The customer must receive a copy, along with PDS and FSG and must have signed and had the SOA presented to them BEFORE any implementation of strategies can be put in place. A disclaimer is also usually placed at the bottom of the SOA to protect the financial planner and affiliated companies against the working of case law – althogh this is not required by the corporations act. ? Product Disclosure Statement – The PDS needs to accompany the SOA so the clients have all the information in relation to possible products they are signing up to. Other things which need to be in the PDS include: Fees and charges = explain what fees might be applicable, including ben efits and commissions that could be received by 3rd parties/referrers or product providers as a result of the plan being implemented ? Products = outline the features of the products and services being recommended ? Complaints Policies and Procedures = make sure to completely explain the procedures for handling customer complaints ? Relationships = explain any relationships which might influence which products are recommended or provided d)List 2 objections or concerns your client might raise. How would you address these in order to gain agreement? 1. How do I know that what you recommend will work out for me in the long run? – We have based these recommendations on previous performance of these products and services, all of which you have sighted with your eyes. We cannot 100% guarantee that these potential outcomes listed will occur, however financial planning is what we specialise in and we make it our duty to look after your financial health. If we notice that the course which we have mapped out for you is not heading in the direction we have anticipated, you will be the first to know, and we will review your situation in order to alter your plan to best fit your needs, provided you would like us to provide you with this ongoing service. 2. This plan fee seems overly expensive – why do I have to pay it? – It takes a considerable amount of time, research, investigation and preparation for us to put together a plan that is tailored entirely according to your personal needs. There are no generics or assumptions made with what we are presenting you and the savings and earnings you will make as a result of our guidance will far outweigh the cost of this information. 6 – Implement Agreed Plan Simon and Allison have agreed to your plan. a) What transactional documents/authorities need to be signed by Simon and Allison? †¢ Authority to proceed / SOA and disclaimer †¢ Application forms along with PDS attached †¢ A cheque to be written to accompany application form b) Complete an Implementation Plan, in order, that details your planned actions now that Callahan’s have decided to proceed with your recommendations in step 4, providing an indication of when each must be completed. A – Adviser C – Client | No. Action |Who |When | | |Sign Authority to Proceed |C |Now | | |Provide 3rd parties with adequate notification of actions needed to be taken eg solicitor, accountant |A |ASAP | | |Complete application forms ready for c lient to sign |A |ASAP | | |Present application forms to client with PDS attached to be signed. |A + C |When ready | | |Photocopy, keep one and give other with PDS to client. | | | |Obtain Cheque from Client and attach to application form to be sent to dealer group |A |With step 4 | | |Welcome letter from dealer is issued |A /Dealer |- | | |Secure client file established (maintained for 7 years) |A |- | | |Confirm with clients that they have received welcome letter and they have heard from any 3rd parties. |A |- | | |Speak to clients about Review Service |A |When everything| | | | |is settled | 7 – Provide ongoing service You now have to address the issue of providing ongoing advice to Allison and Simon. )What environmental (economic, market, regulatory) changes, or changes to their personal or financial situation would cause a review of their plan? †¢ Interest rate changed may affect tax advantages, investment earnings †¢ New regulatory changes may grandfather or c ompletely remove current strategies in place †¢ Market booms and busts may cause portfolio mix to be outdated / underperforming †¢ Clients may have suffered a loss, or injury causing them to claim and or need to reassess the financial commitments they can keep up with †¢ Clients may have come into a considerable amount of money unexpectedly allowing for more room to move in current strategy (e. g. inheritance, lotto) Change of advisor may bring upon new light on their situation, may have a better strategy in mind. b)Describe 2 activities you regularly undertake to keep up-to-date with current legal, ethical and regulatory requirements of the finance sector. †¢ Read financial review/finance news, current company legal updates †¢ Read the AFPA reports issued and newsletter from BT financial and liaise with current financial planners c)What level of ongoing service would you propose for these clients? ( â€Å"No service† ( â€Å"Portfolio valuation† ( â€Å"Portfolio review† ( â€Å"Financial Plan review† ( â€Å"Other† – Describe d)Describe the option recommended for your client, and why you have recommended this option. Describe the level of service you will provide and the associated fees. I would recommend an annual portfolio review for Allison and Simon to ensure that they are on track to achieving their goals. This would involve checking balances and fund mixes to ensure adequate returns have been made and that products are performing as anticipated. I would prepare a letter to send out based on my finding advising whether or not a change could benefit them. As the strategies recommended for Allison and Simone are fairly basic a separate fee would not be necessary as this service would be considered to be paid for under the trail commissions. Sample Fact Finder & Risk Questionnaire 1. PERSONAL DETAILS |CLIENT 1 |CLIENT 2 | |Title: |Mrs |Mr | |Given Name: |Allison |Simon | |Preferred Name: |Allison |Simon | |Surname: |Callahan |Callahan | |Date of Birth: |1956 |1958 | |Marital Status: |M |M | | | | | Home Address: |Address: Lot 3 Wattle Road | | | | | |Suburb/Town: Hurstbridge | | |State: VIC Pos tcode: | |Home Telephone No. | | |Preferred Contact No. | | | | | | | | CHILD / DEPENDENT DETAILS Name: |Megan | | | | |Relationship: |Daughter | | | | |Date of Birth: |1981 | | | | |Current Age: |29 | | | | |Financially Dependent: |NO | | | | HEALTH DETAILS Do you Smoke: |Yes / No |Yes / No | |State of Health: |Poor / Good / Excellent |Poor / Good / Excellent | |Are you aware of any health issues that may| | | |impact your ability to earn an income? | | | |(please provide details) | | | |Notes: | 2. EMPLOYMENT DETAILS |CLIENT 1 |CLIENT 2 | |Employment Status: |( Unemployed |( Unemployed | | |( Full Time Employed |( Full Time Employed | | |( Self Employed |( Self Employed | | |( Part-time |( Part-time | | |( Retired |( Retired | | |( Other |( Other | |Employer Name: |Best Marketing |Newbolds Pty Ltd | |Position Title: |Marketing |Employee | |Primary Duties: |Marketing |Custom Furniture | |Work Address: | | | |Current Work Phone No. : | | | |Employment Security: |Secure – just promoted |Secure – intention to stay long term | |Are you Contemplating leaving your employer? |In 5-6 years |Not in the foreseeable future | |Do you foresee any substantial change in |Planned retirement in 5-6 years, possible |In 5-6 years will reduce hours to part time | |your income in the next 2-5 years? reduction in take home pay in the lead up to|– income will be approx $20K p/a | | |this | | |Notes: | | | OTHER ADVISER DETAILS Accountant |Name: | | |Company: | | |Contact Detail: | | Do we have authority to contact? ( Yes ( No Solicitor Name: | | |Company: | | |Contact Detail: | | Do we have authority to contact? ( Yes( No ESTATE PLANNING DETAILS | |CLIENT 1 |CLIENT 2 | |Do you have a current Will? |No |No | |Date of Will / Last Reviewed: | | | |Power of attorney |No |No | |Type / Name of Attorney? | | |Do you have Funeral Plans? |No |No | |Do you have any specific intentions |Intention to pay for grandchildren’s |Intention to pay for grandchildrenâ€℠¢s | |regarding your estate distribution? |university in the approx 12 years (approx |university in the approx 12 years (approx | | |$120K in today’s dollars) |$120K in today’s dollars) | 3. FUTURE NEEDS OBJECTIVE AND GOALS |E. g. Current income needs, retirement income needs, diversification, tax minimisation, capital growth, investment security, wealth creation, | |eliminate mortgage etc | |Reasons for seeking financial advice | |Gain assistance with making the transition to retirement and planning the next five years | | | | | |Short Term (1 to 3 years) | |Save on tax on bank accounts/term deposits through possibly restructure | |Start increasing Allison and Simons Super balances ($160K and $47K) | |Look into other investment options to diversify current wealth | |Medium Term (4 to 7 years) | |Pay off IO mortgage of $150K in 5 years | |Buy new car (through trade in 9 year old land cruiser) worth $30K In 5 years | |Have a $40K (today’s dollars) p/a retirement income stream in 5 years | |Long Term (7 year plus) | |Pay for grandchildren’s university in 12 years – estimated needed $120K in | |today’s dollars | | | | | RETIREMENT PLANNING Retirement Details |CLIENT 1 |CLIENT 2 | |Plan ned Retirement Age: |59/60 |undetermined | |Retirement Income required: |$40K (today’s dollar) |$40K (today’s dollar) | |After retirement, do you intend to work |NO |Expected Income= | |again either on a full-time or part-time | |$20K | |basis? |Till age: undetermined | |What capital expenses will you have in |$ |$ | |retirement? (Please state expense and | | | |value) | | | |Would you like some assets left to your |$ |$ | |estate? Please detail) | | | |Notes: | | | | | 4. FINANCIAL DETAILS PERSONAL BALANCE SHEET Lifestyle Assets | |Owner |Date Acquired |Value |Associated Debt | |Principal Residence: |Allison and Simon | |$750,000 |$150,000 | Contents: | | | | | |Motor Vehicle/s : |Allison |2006 |Land Cruiser |No debt | |Caravan / Boat / Trailer: | | | | | |Investment Property: | | | | | |Other: | | | | | | | | | | | | | | | | | | | | | | | |Total | | | | | Investment Assets Investment | | | | | | | | | | | INCOME DETAILS | |CLIENT 1 |CLIENT 2 | |Income: |$135,000 |$45 ,000 | |Investment Income: |$1770 p/a interest (bank accounts) |$1770 p/a interest (bank accounts) | |Centrelink Income: | | |Pension/Annuity Income | | | |Other Income: | | | | Less Income Tax |$38554 |$7580 | | Less Medicare Levy |$2050 |$700 | |Total Net Income |$94426 |$38490 | |Combined Net Income |$132,916 | EXPENSE DETAILS |COMBINED | | |Food: | | | |Entertainment: |$15,000 | | |Transport/Vehicle: | | | |Council Rates: | | | |Amenities: | | | |Rent: | | | |Mortgage Repayments: |$12,000 | | |Other |$40,000 | | |Total |$67,000 | | SURPLUS DISPOSABLE INCOME | |COMBINED | | |Annual: |$65,916 | | |Monthly: |$5,493 | | PLANNED MAJOR EXPENSES |Nature of Expense |Approx. Expense Amount |Expected Date | |Grandchildren’s university |$120,000 in today’s dollars |12 years | |Purchase new car |$30,000 |5/6 years | | | | | | | | | |What cash reserve do you require for | | | |emergencies or unforeseen expenses? | | | |Are you expecting a future lump sum or | | | |inheritance? | | | |If so, how much? | | |Notes | | | 5. SUPERANNUATION & INSURANCE SUPERANNUATION |Company |Policy No. |Employer/ Personal | |Are any of the above policies preserved? | |No | |Has a tax deduction been claimed for part/all? |Yes |No | |Are there any exit fees applicable? |Yes |No | LEAVE PAYMENTS Type |Expected Receipt Date |Anticipated Amount | |Annual: | | | |Long Service: | | | |Other: | | | |Have you recently received a redundancy package? |Yes |No | |If you have recently received a redundancy package, please provide notice of payments. | GENERAL INSURANCE Insurance Description |Policy Number |Owner |Date Commenced |Sum Insured |Premium Payable | |Term Life and TPD |Allison |$100,000 | | | | | | | | | | | | | | | | | | | | | | | | | |Notes: | | | 6. INVESTOR RISK PROFILE Your attitude to risk is probably the most important factor to consider before investing. To achieve higher returns, you will have to be prepared to accept a higher risk of capital loss. This is because the funds and assets that offer high returns are generally more volatile than those producing lower returns. It is what we call ‘risk/return trade off’. We will recommend investment strategies to match your investments to your risk profile. Investing across the various investment sectors according to your risk profile is called diversification. For example, instead of investing only in property, or only in shares, you might invest a proportion in both, or even include cash or fixed interest to create a balanced portfolio. You are a balanced investor who wants a diversified portfolio to work towards medium to long-term financial goals. You require an investment strategy that will cope with the effects of tax and inflation. Calculated risks will be accepted to help you achieve good returns. 17 – 23 Moderately Conservative – A Low Risk Taker You are a moderately conservative investor seeking better than basic returns, but risk must be low. Typically an older investor seeking to protect wealth that you have accumulated, you may be prepared to consider less aggressive growth investments. 9 – 16 Conservative – A Very Low Risk Taker You are a conservative investor. Risk must be very low and you are prepared to accept lower returns to protect capital. The negative effects of tax and inflation will not concern you, provided your initial investment is protected. 7. CLIENT STATEMENT / AUTHORISATION |I/We herby declare that the information set out in this form is true and correct to the best of my/our knowledge. | |I/We are not aware of any other information and have not disclosed to the person to whom this form is given any other information | |which would be relevant to the making of a recommendation by a Mentor Financial Planning Representative. | |I/We give permission for this information to be used for the preparation of my/our financial plan and I/we understand that the | |investment recommendations will be based solely on the information supplied in this form. | | |I/We also acknowledge that: | |( |I/we have received, read and understood the Financial Services Guide before any advisory services were provided; | |( |I/we permit this document to be passed in confidence to any member of Mentor Financial Planning Pty Ltd; | |( |Lim ited Information Provided | | |I/We have provided limited financial information. I/We have limited the product(s) or objective(s) that can be advised on | | |to: | | |If you are seeking limited advice of a particular nature you must make this known at the time of the interview and you | | |should recognise that the recommendations will only relate to that limited advice being sought and may not be appropriate | | |considering your overall situation and objectives. | |( |Tax File Number Permission | | |I/We give permission for my/our tax file number(s) as provided, to be held only by Mentor Financial Planning and be | | |forwarded to financial institutions as requested or as necessary. |( |Engagement Application | | |I/We request that Mentor Financial Planning investigate research and provide suitable options to the financial objectives | | |outlined in this questionnaire. | | | | | |I/We understand that the preparation fee of $500 is payable for the work to be undertaken. This fee may be credited | | |against my establishment fee should I/We proceed to implement any of the recommendations provided by Mentor Financial | | |Planning. | | |Client 1 | |Client 2 | | | | | |Signature: | | | | | | | | | |Date: | | | | |8. Adviser’s Declaration | I declare that: a) the information contained in the Fact Finder is an accurate and complete record of the information obtained from the client(s); b) The client(s) was provided with a copy of the Financial Services Guides before any advisory services were provided. |Adviser’s Signature | |Date | | | |Additional Important Information for the Client(s) | |If incomplete or limited financial information has been provided: | | | |I, as your Adviser, will not be able to undertake a full needs analysis of your individual investment objectives, financial situation | |and particular needs; | |There is a possibility that any recommendation given to you may not be fully appropriate to your individual objectives and needs, | |especially those which I, as the Adviser, do not know; and | |You as the client must carefully ssess the appropriateness of the recommendations to your own individual investment objectives, | |financial situation and particular needs before acting on them. | To Whom It May Concern Please accept this letter as my/our authority to provide any information requested and documentation if required to Azza Financial Planning (or their representative). Please accept a photocopy or facsimile of this letter, as the original will remain on file at the offices of Mentor Financial Planning. Correspondence should be sent to Level 2, 349 Collins Street Melbourne VIC 3000 This authority should remain in force until withdrawn in writing by me/us. Thankyou. |Allison Callahan | | | |Client 1 Name | |Signature | | | |Simon Callahan | | | | | |Signature | | |Client 2 Name | | | | | | | | | |Client 1 D. O. B. | |Client 2 D. O. B. | | | |___/___/___ | |___/___/___ | | | | | |Lot 3, wattle road, Hurstbridge, VIC | |Address | | | | | On Going Service Options 1. The â€Å"No serviceâ €  option This generally relates to a one off investment placement based on the agreed investment strategy in the financial plan. In choosing this option, no ongoing service or review of the financial plan and the investment portfolio is provided to the client unless specifically requested by the client or upon the recommendation of the planner. 2. The â€Å"Portfolio valuation† option This service provides reports on the value of your investment portfolio only. The fee charged will depend on the frequency of the reports. In choosing this option, no ongoing service or review of the financial plan is provided to the client unless specifically requested by the client or upon the recommendation of the planner. 3. The â€Å"Portfolio review† option This service provides reports on the value of your investment portfolio. The fee to be charged will depend on the frequency of the reviews and will be agreed at the time. The minimum fee is $N/A but this may be higher depending on the complexity of the review. This service includes: An annual/half yearly/quarterly review of your existing investment portfolio and its performance looking at further investment opportunities, if appropriate establishing if there have been any changes in legislation, the economic environment and state of the financial markets that may impact on your recommended investment portfolio In choosing this option, o ongoing service or review of the financial plan is provided to the client unless specifically requested by the client or upon the recommendation of the planner. 4. The â€Å"Financial Plan review† option This service provides for an annual/half yearly/quarterly review of the overall financial plan strategy and the investment portfolio recommend ed. Each review will be presented in the manner of a written report and recommendations. The fee to be charged will depend on the frequency of the reviews and will be agreed at the time. The minimum fee is $__500________, but this may be higher depending on the complexity of the review. This service includes: roviding reports on the value of your investment portfolio; an annual/half yearly/quarterly review (including comments) of your existing investment portfolio and its performance; looking at further investment opportunities, if appropriate; establishing if there have been any changes in legislation, the economic environment and state of the financial markets that may impact on your recommended investment portfolio and the overall financial plan strategy; establish if there have been any changes to your personal circumstances or financial goals and objectives; ascertain if the overall financial plan and the investment portfolio is continuing to meet your financial goals and objec tives (including an insurance review); and making any new recommendations (if necessary).

Losing Weight: Lifetime and Commitment

Dieting Is a hard task to do If you do not have the right tools to accomplish It Besides there is so many diets and exercise regimes out there in today's world that it is enough to confuse a person. It Is going to be a challenge and a personal goal for some people. How about you? Do you want to make a life time change to get your body, mind and soul on track and plus keep off for life, too? It is all about making a life change in helping people get control of there body and emotions and well-being.Many overweight people have other deficiencies in there body for they are not eating he right foods and getting the right nutrients to satisfy there bodies. They are usually nervous, irritable, moody, depressed, and feel sluggish all the time of which makes them not think clearly and have little or no energy to do there dally tasks In life. When people do not have a balanced diet and exercise regime they are constantly hungry and feel sluggish. Remember you have choices In life so make the right choice.By making a life time change and commitment to change bad habits and exercise will help anyone have positive results as live longer and maintain weight. First, you need to have a goal as to how much weight you want or need to lose. So you need to set the goal but do not set a time limit and give your self adequate time to reach it. Take as many steps as possible to reach that ultimate goal. You and everyone else can do this if you Just keep your eyes focused on the goal.People should really go too quiet place and really search down deep in side your self if you have the guts to do it or not and the commitment in doing this for there body and mind and soul. So think about if you really want this and then go do it for yourself. It would not hurt togged kind of a support team to help keep you titivated and then when It gets rough sometimes and you want to quit you will have this and won't give up. You could go to friends, loved ones, churches, diet groups and maybe come up with one but you do need to choose one. Choosing one will help give support when needed and enjoyment through your program that you chose.Rather a team Is better than one to help you reach your goals In life. Secondly, you need to choose a diet and exercise program to start to reach that ultimate goal. To find the right diet take a look at your body and analyze it to see what you need to work on In order to reach your goal. Do some research on it. Like look up different diets and chose one and same goes for the exercise program It Is actually what ever fits that person but to tell you the truth I personally found a diet after doing the Atkins Diet that really works and keeps you satisfied all day.I found that the Atkins Diet was high in fats that can raise your cholesterol and lead more to heart disease. It would keep your blood pressure up and definitely is not good for your body. We all know that none of this Is good for they don't care about there persons or natural sugar that o we not harm you. These are suppose to work together for you to lose weight. Len the Atkins Diet you only lose up to approximately 10 lbs. A month compared to the Venetian Wellness Diet.The Venetian Wellness Diet where you can eat all day long and feel full and not be Irritable. It Is all with good wholesome food and filling content with it. You still eat protein, veggies, fruits, and not breads of pasta or rice not unless It Is brown. Most of the foods maybe organic It will give It a more natural 1 OFF feeling and better tort you to eat. The change is g tort the wellness tort your body. You limit your dairy and your portions are a filling size. You are choosing your foods in a differently manner.The pounds will soon start slipping off and you will start feeling different inside to and with incorporating a exercise regime into helping you lose weight you will be helping complete your goal. You might want to do some more research on exercise you are going to chose for you self to do. Maybe you can do aerobics, swim aerobics, walking or doing a little of everything put together at least three times to five times a week. So with these tools you will be able to keep the eight off and get there body in shape.Finally it is all about making a long life commitment and life change for yourself. The Venetian Wellness Diet will do Just that for you. You can eat all day and not feel hungry and with exercising you will have all the tools you need to achieve that life time goal and commitment for life. All of this will get your body in shape emotionally and psychologically balanced in your life. So lust don't think you will have these tools your whole life to use and that meaner that you are making your body balanced and ready to fight the world out there with your new life commitment and change.After using this diet and exercise you will have a new level s of well-being in your life and energy you thought you never had before. With the Venetian Wellness Diet and the exercis ing regime that you chose you will experience this only if you commit too life change . Just watch you transform and with these tools you will be able to reach your goal. You have to be religious and passionate about yourself to do this. So make that life time long commitment and change to change your body for yourself and complete that goal. Get going now and make that change and commitment in your life for a lifetime.

Are the great IGOs (such as the League of Nations or the UN) efficient Essay

Are the great IGOs (such as the League of Nations or the UN) efficient in accomplishing the goals for which they are founded - Essay Example The UN had been criticized for being weak in the light of its growing responsibilities in the globalized world. With the advent of a new playing field brought about by a post-9/11 world, doubts on the capacity of the UN to fulfill its mandate is further amplified. Looking back at history, the incapacity of the League of Nations also resulted in its dissolution. Will the UN meet the same fate? Is it such that the great International Government Organizations (IGOs) such as the League of Nations before and the UN today, are incapable of accomplishing the goals for which they were founded? Or to use the words of de Gaulle, â€Å"is the UN (or any other IGO) a gimmick that should not be relied upon as a useful institution in political decision making† There are numerous criticisms facing the UN. Some of these criticisms are based on historical experiences undergone by the defunct League of Nations. Other criticisms and serious doubts are brought about by apparent impotencies exhibited by the UN in the light of its apparent failures. This paper aims to show that IGOs will for some time be sensitive and responsive to the unique circumstances of their member countries. However, this paper also argues that the inequities among member countries will also be the cause of the failures encountered by IGOs, and thus negate any possibility that an IGO can transform itself throughout long periods to effectively respond to changing times and circumstances.. By the end of World War I, the Allies established the League of Nations to safeguard global peace and prevent the occurrence of another destructive conflict. Among its actions was the institution of the Mandate System with the intent that â€Å"more advanced† countries would be given the responsibility to prepare native populations for self government. However noble the mandate was in theory, it was also seen as a means of dividing the â€Å"spoils† of World War I among the victors. Based on Article 22 of the

Assignment Example | Topics and Well Written Essays - 1000 words - 31

Assignment Example In the case of Motorola, the site makes explicit reference to the company being a Google firm, also connecting with its customers via the brand cachet of Google and its massive influence in technology and in the decision-making of technology buyers and enthusiasts. The Motorola brand and organization, in this case, leverages the strong brand image of Google among not just that subculture of smart phone users that are heavily into technology in general and in Android and smart phones in general, but also the general mass of consumers who are intimate with Google as both a provider of search and of advertising related to search. Here the Motorola brand makes use of the wide reach of Google through its popular mass media properties too, chief among them YouTube, to also further reinforce its attempt to lure in the mass market customers in different parts of the world. The marketing mix element of price, which is deliberately set low for its mass market phones, is reinforced by its lever aging the Google name in its web pages (Motorola Mobility LLC, 2014). In the case of music marketers like Tower, on the other hand, the key social influences relate to the way the site leverages music icons such as Michael Jackson, who by their stature even post-death constitute a heavy influence on the opinions of music consumers, to lure in a wide demographic of music lovers into its site (Tower.com, 2014). The literature states that certain products lend themselves to heavier advertising than others, because of various aspects of the product, such as the product’s being new; the complexity factor associated with the product and its features and benefits; the need to highlight differentiating factors of the product; intense competition; the novelty of the product requiring intensive education and explanation; and the product being of wide appeal to many different market segments for different purposes, requiring different advertisements that cater

Policing of Aboriginal Communities with Emphasis on Canadian Policing Essay

Policing of Aboriginal Communities with Emphasis on Canadian Policing Examples. - Urban and Rural Differences in Policing in Canada and at large to be examined - Essay Example In Canada, aboriginal policing came into being a professional, reliable and responsible government body with the introduction of the First Nations Policing Policy (FNPP) in June 1991. The objective of First Nations Policing Policy is to provide aboriginal communities of Canada social security, order and individual safety on the basis of cost-shared funding by federal and provincial governments. It is aboriginal communities choice either to develop their personal police service or opt for a police service provided by a contingent of First Nations officers. The Aboriginal Policing Directorate ensures policing that is answerable to the desires of aboriginal people residing in rural and urban areas. The Royal Canadian Mounted Police (RCMP) – the Canadian national police service has its Aboriginal Policing Branch that prepares culturally alert policing services agreeable to aboriginal people. It takes into confidence aboriginal organizations to come up to their needs and expectations. The RCMP absorbs aboriginal people in its recruitment and plans problem-specific programs relevant to aboriginal communities needs. Some of the programs include RCMP Aboriginal Youth Training Program (AYTP), Community Suicide Intervention Program, and First Nations Community Policing Service (FNCPS). The Community Policing Model is the result of severe criticism of the traditional model of policing, which was not sufficiently equipped to deal with the issues of aboriginal communities. Now, communities get support from the police in managing their risks. Both work hand-in-hand to solve the crime and law & order problems created by local inhabitants. In the Community Policing Model, the police don’t behave irrationally to cope up with law & order issues; it takes proactive steps to recognize and remedy, to establish peace. The police intervenes in the dialogue process to know the opinion of the community on touchy issues, first by holding general level