Financial planning project

Task 1
You have just recently graduated and with a group of friends work at the same financial services firm.
At a barbeque party with friends from work and past school friends you start talking about financial
planning. Over the course of the day, there were many discussions and the topic, which had everyone
interested, was money. One friend stated that he knows what to do with his money and that financial
planning was a waste of time and is only for old people who do not know what to do with their money.
Your first task is to describe what is involved in financial planning and why it is important for people of
all ages to have a financial plan

Task 2
You have just met with two new clients, Peter and Wendy Ross and have asked them to collect
information regarding their financial position and some other information. You gave them a fact finder
to complete. They return with the form filled to the best of their knowledge.
Your task is to develop a full financial plan for Peter and Wendy Ross.
The components for a plan are set out in chapter 15 of the McKeown et al. Financial Planning 2014. If
you feel your organisation will provide other information that is acceptable.
The plan should evaluate where Wendy and Peter are currently and where they want to be in the short
and long term.
You are to make recommendations and any products that you recommended must be accompanied by
a product disclosure statement. The product disclosure statements should not be printed but saved to a
storage device (CD or USB) and handed in with the plan. Any projections must be shown and any
assumptions regarding these projections must be stated and justified.

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