Essay about Statement Of Advice Final 1

3304 Words May 19th, 2015 14 Pages
28TH April 2014

Mrs Nicole Kidman
10 James highway road,
Kellyville, NSW

Dear Nicole Kidman,

STATEMENT OF ADVICE

Thank you for seeking financial advice with GET IT RIGHT Financial Planners. We gain a great deal of personal satisfaction from watching clients reach their personal goals and certainly hope that we will be able to help your financial dreams become a reality.
Please find enclosed the Financial Plan we have prepared for you, setting out my recommendations to help you achieve your financial goals.
The Financial Plan is split into three parts, and must be read as a whole document:
Executive summary: Summarises your current situation and your goals.

Our advice: how we recommend you meet your goals, the benefits of our
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Cost to the client..........................................................................................
Authority to proceed.....................................................................................
Reference List................................................................................................

CURRENT FINANCIAL SITUATION & PERSONAL CIRCUMSTANCES

Personal Details
Nicole Kidman
Age
47
Address
10 James highway, Kellyville,NSW,2100
Phone
0431122367
Employment

Work Status
Employee
Occupation
Private Secretary
Salary
$75,000 pa
Health

Private Health Insurance
No
Smoker
Yes

Income and Expenditure
Salary
$75,000
Cash interest
$300
Total inflows
$75300
Tax payable
($15,922)
Expenses

Weekly expenses including mortgage ($650)
$33,915
Credit card debt ($1620+570)
$2190

Total outflows
($36,105)

Surplus/Deficit
$22,273

Tax = ($75,000-$37,000)*0.325+$3,572 = $15,922 tax payable

(Net Worth)
Fixed Assets

Property
$450,000
Motor vehicle
$10,000
Furniture
$50,000
Jewellery
$30,000

$540,000
Non Fixed Assets

Shares
$25,000
Cash
$30,000

$55,000
Liabilities

Mortgage
$180,000
Debt
$12,000

$192,000

Total Net worth
$403,000
As shown in the above tables your current net worth is $403,000 and surplus income is $23,273. All the information was taken from the Fact Finder you completed.
Your goals

During our meeting we undertook a fact-finding process to help define your goals and objectives.

To pay off the

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