Sample Financial Plan.pdf - Sample FPSB Financial Plan Table of Contents I EXECUTIVE SUMMARY 3 FINANCIAL MANAGEMENT 3 CURRENT POSITION 3 PROPOSED

Sample Financial Plan.pdf - Sample FPSB Financial Plan...

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Sample FPSB Financial Plan
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Copyright© 2012, Financial Planning Standards Board Ltd. All rights reserved. 1 Table of Contents I. EXECUTIVE SUMMARY ................................................................................................... 3 FINANCIAL MANAGEMENT ............................................................................................ 3 CURRENT POSITION ................................................................................................................... 3 PROPOSED POSITION ................................................................................................................ 3 Risk Management ............................................................................................................ 4 CURRENT POSITION ................................................................................................................... 4 PROPOSED POSITION ................................................................................................................ 4 Retirement Planning ......................................................................................................... 5 CURRENT POSITION ................................................................................................................... 5 PROPOSED POSITION ................................................................................................................ 5 Asset Management ........................................................................................................... 5 CURRENT POSITION ................................................................................................................... 5 PROPOSED POSITION ................................................................................................................ 5 Tax Planning .................................................................................................................... 6 CURRENT POSITION ................................................................................................................... 6 PROPOSED POSITION ................................................................................................................ 6 Estate Planning ................................................................................................................ 6 CURRENT POSITION ................................................................................................................... 6 PROPOSED POSITION ................................................................................................................ 6 Important Planning Assumptions ...................................................................................... 6 The Client‟s Goals, Objectiv es .......................................................................................... 7 Financial Management ................................................................................................................... 7 Asset Management /Investment Planning ..................................................................................... 7 Risk Planning ................................................................................................................................. 7 Tax Planning .................................................................................................................................. 7 Retirement Planning ...................................................................................................................... 7 Estate Planning .............................................................................................................................. 8 The Client‟s current situation and concerns (issues) ......................................................... 8 Financial Management ................................................................................................................... 8 Asset Management ........................................................................................................................ 8 Risk Management .......................................................................................................................... 8 Estate Planning .............................................................................................................................. 8 II. COMPLIANCE ........................................................................................................... 9 Disclosures ....................................................................................................................... 9 Disclosure statement ..................................................................................................................... 9 Name of Firm and Authorisation Details (Licensing and or Registration details) .......................... 9 The Services Offered ..................................................................................................................... 9 Business Operation ........................................................................................................................ 9 Financial Planner Details and Qualifications ................................................................... 10 Current insurance coverage meets all statutory and regulatory requirements.Disclaimers ........ 10 Disclaimers .................................................................................................................................. 11 Declaration ................................................................................................................................... 11 III. PERSONAL INFORMATION, ATTITUDES, NEEDS, OBJECTIVES AND ISSUES ....... 12 PERSONAL INFORMATION ....................................................................................................... 12 ATTITUDES ................................................................................................................... 13 General ........................................................................................................................................ 13 Financial Management: ................................................................................................................ 13 Investments: Kelvin ...................................................................................................................... 13 Investments: Eva ......................................................................................................................... 13 Risk Planning ............................................................................................................................... 13 Retirement Planning .................................................................................................................... 13 Tax Planning ................................................................................................................................ 13 Estate Planning ............................................................................................................................ 14 CLIENT NEEDS, GOALS AND OBJECTIVES ................................................................ 14 Financial Management ................................................................................................................. 14 Asset Management /Investment Planning ................................................................................... 14
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Copyright© 2012, Financial Planning Standards Board Ltd. All rights reserved. 2 Tax Planning ................................................................................................................................ 14 Retirement Planning .................................................................................................................... 14 Estate Planning ............................................................................................................................ 14 Financial Management ................................................................................................................. 15 Risk Management ........................................................................................................................ 15 There are a few issues regarding Kelvin‟s business interest: ...................................................... 16 IV. ASSUMPTIONS ........................................................................................................... 16 Financial Management ................................................................................................................. 16 Asset Management ...................................................................................................................... 16 Risk Management ........................................................................................................................ 16 Tax Planning ................................................................................................................................ 16 Retirement Planning .................................................................................................................... 17 STRATEGIES AND ALTERNATIVES ............................................................................. 18 FINANCIAL MANGEMENT .......................................................................................................... 18 RISK MANGEMENT/INSURANCE .............................................................................................. 19 ASSET MANAGEMENT/INVESTMENT PLANNING .................................................................. 24 TAX PLANNING ........................................................................................................................... 24 RETIREMENT PLANNING .......................................................................................................... 25 SUMMARY OF APPLICABLE INFORMATION ............................................................... 25 ESTATE PLANNING .................................................................................................................... 25 SYNTHESIS AND RECOMMENDATIONS ..................................................................... 26 FINANCIAL MANAGEMENT ....................................................................................................... 26 RISK MANAGEMENT .................................................................................................................. 26 Business Insurance ...................................................................................................................... 26 ESTATE PLANNING .................................................................................................................... 27 IMPLEMENTATION ........................................................................................................ 27 Implementation checklist ............................................................................................................. 27 PERIODIC REVIEWS ..................................................................................................... 27 Review Process ........................................................................................................................... 27 APPENDICES ................................................................................................................ 29 APPENDIX A NET WORTH POSITION ................................................................................... 30 APPENDIX B CASHFLOW POSITION ..................................................................................... 31
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