Professional Documents
Culture Documents
Fact Find
Client 1
Client 2
Mary Smith
Adviser
Opex Advice
Date completed
16 Dec 2014
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 1
Personal information
Personal information
Client 1
Client 2
Title
Mr
Mrs
Given names
Jon-Pierre John
Mary
Surname
Smith
Smith
Preferred name
Jon-Pierre
Mary
Gender
Male
Female
Date of birth
12 Jun 1957
15 Dec 1960
Place of birth
Australian
American
Marital status
Married
Married
Date of marriage
25 Dec 2000
Resident status
Permanent Resident
Resident
Resident
Supplied
Not supplied
Contact details
Client 1
Client 2
Home address
Business address
PO BOX 123
ADELAIDE SA 5000
Home phone
08 8211 2233
Work phone
12234567
Contact information
Mobile
Fax
jpsmith@bigpond.com.au
kelly@opexconsulting.com.au
bedwards@iress.com.au
0415 000 111
Other
Preferred method of contact
jpsmith@bigpond.com.au
12234567
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL
222333444
Page 2
Children / dependants
Name
Relationship
Date of birth
Living at home?
Peter
Son
Yes
No
Daughter
No
Yes
Support to: 25
Geraldine
Financially dependant?
Additional information
(eg. special needs, education funding requirements, youth allowance or any other government benefit)
Employment
Employment
Client 1
Client 2
Occupation
Chemical Engineer
Teacher
Position
Technical Manager
Industry
Employment status
Full-time
40.00
Employer name
01 Jan 1997
12.00
No
Yes
Leave details
(annual, sick, LSL)
Unknown
Business structure
(if self employed, record details WAHQ
later in fact find)
Additional information
(eg. salary packaging details, any expected future changes in occupation, pending leave)
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 3
Health details
Client 1
Client 2
Health status
Good
Excellent
Health insurance?
Yes
No
Health conditions
Nil
Family history
(eg health issues and
longevity of parents)
Family history
Nil
Description
Name/Company
Contact details
Lawyer
Margaret Johnston
Margaret Johnson Solicitors
Name/Company
Contact details
Professional advisers
Referrer details
Description
Referred by
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 4
Income
Income
Owner
Amount
Jon-Pierre
$100,000.00
Jon-Pierre
$120,000.00
Bonuses
Jon-Pierre
$10,000.00
Jon-Pierre
$33,000.00
$263,000.00
Expenses
Expense
Owner
Amount
Mortgage Payments
Jon-Pierre
$3,000.00
Gas
Jon-Pierre
$400.00
Jon-Pierre
$750.00
Jon-Pierre
$2,750.00
Jon-Pierre
$20,710.05
Jon-Pierre
$1,000.00
Jon-Pierre
$2,400.00
Jon-Pierre
$37,500.00
$1,407.36
$69,917.41
Client 2
Able to save?
Yes
No
Debt reduction
None
$7,500.00
$0.00
$0.00
$0.00
Additional information
(e.g. how expenses will change post retirement, any unusual expenses anticipated in the future)
Cashflow details
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 5
Client 1
Client 2
Payment type
Age Pension
Reference No.
222333444
250,000.00
Valuation date: 23 May 2013
Valuation date:
$
Valuation date:
No
No
PBS registered?
Yes
(Date: 01 Jul 2008
CSHC registered?
Yes
Annual entitlement
$12,500.00
$0.00
Additional information
Gifted $5,000 to son Peter on 1 May 2010.
Aged Care
Aged care
Client 1
Client 2
Facility type
Date of entry
Fees
- Entry fee
Additional information
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 6
Assets
Assets lifestyle
Owner
Amount
Jon-Pierre
Peter Adams
$75,000
Jon-Pierre
Mary
Costa Filippou
Joint
$750,000
Joint
$50,000
$100,000
$27,500
Total assets
$1,002,500
Assets - investment
Amount
Jon-Pierre
Default Account
Art Work
$100,000.00
Art Work 2
$10,000.00
CBACCA
$1,000.00
$860.00
$1,324.10
Subtotal
$113,184.10
$120,480.05
$114,766.16
Subtotal
$235,246.21
$70,718.25
$67,822.71
$78,019.91
Subtotal
$216,560.87
Findon Home
Adelaide Home
$400,000.00
Findon Home
$450,000.00
Subtotal
$850,000.00
$139,884.77
$143,471.17
$168,751.28
Subtotal
$452,107.22
$137,274.48
Page 7
Amount
$128,217.72
$100,000.00
$127,255.07
$132,000.00
$144,110.21
Wesfarmers Limited
$115,421.76
Subtotal
Total
$884,279.24
$2,751,377.64
Mary
Default Account
BHP Billiton Limited
$15,995.00
$3,300.00
Subtotal
Total
$19,295.00
$19,295.00
JPS Company
Default Account
OnePath OA PS - OptiMix Balanced EF/Sel
$1,816.30
$660.00
Woolworths Limited
$32,790.00
Subtotal
Total
$35,266.30
$35,266.30
$150,993.02
Subtotal
Total
$150,993.02
$150,993.02
Costaki Superfund
Default Account
BHP Billiton Limited
$63,980.00
$1,543.80
$6,600.00
Subtotal
Total
Total assets
$72,123.80
$72,123.80
$4,630,704.10
Additional information
Asset details
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 8
Liabilities
Liabilities
Owner
Outstanding Balance
Loan Limit
Credit Card
Jon-Pierre
Fred Turk
$3,000
$5,000.00
Mary
Mazza Turk
$23,750
Joint
Total liabilities
$500,000
$526,750
Additional information
(eg. What are the clients attitudes to managing debt? When does the client want all debt to be paid off?
Liability details
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 9
Beneficiary/Type
Fund name:
Type
Total fund balance as at 12 Aug 2014:
Policy number
Employer contributions (pa)
Salary Sacrifice contributions (pa)
Personal deductible contributions (pa)
Non-Deductible contributions (pa)
Tax-free component:
Taxable component (taxed):
Taxable component (untaxed):
Eligible start date:
Unrestricted non-preserved:
Death cover
TPD cover
Salary continuance
Beneficiary/Type
Fund name:
Type
Total fund balance as at 14 Jan 2014:
Policy number
Employer contributions (pa)
Salary Sacrifice contributions (pa)
Personal deductible contributions (pa)
$0
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 10
$0.00
$0
$150,000
$50,000
$0
$0.00
$0.00
$0.00
Additional information
Superannuation details
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 11
Client 1
Client 2
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 12
Additional information
Pension details
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 13
Owner/
Life Insured
Macquarie Life
OneCare Life Cover & TPD
& Trauma Premier
Maximiser
7654455
Jon-Pierre Smith
Jon-Pierre
AMP
Term Life Plus
445566
AMP
Elevate Trauma Plus,
Income Premier, Life
Insurance, TPD
889977
Waiting
period
Benefit period
Accident
Sickness
Premium
$200.00
$12,750
Monthly
IP
30 Days
Age 65
Age 65
$234.56
Death
$500,000
Jon-Pierre Smith
$1,000.00
Status
Monthly
Inforce
Stepped
Inforce
Monthly
Inforce
Stepped
Inforce
Yearly
Inforce
Mary
Death
$500,000
Stepped
Inforce
Mary
TPD
$250,000
Stepped
Cancelled
Jon-Pierre Smith
Mary
AMP
AMP Life Cover
AC12345
Level
of cover
Jon-Pierre Smith
Smith and Jones
Partnership
Jon-Pierre
AMP
Flexible Insurance
998877
Type
of cover
$20,710.05
Yearly
Inforce
$250,000
$75,000
Stepped
Inforce
Jon-Pierre
Death
$1,224,918
Stepped
Inforce
Jon-Pierre
TPD
$500,000
Stepped
Inforce
Jon-Pierre
Trauma
$162,500
Stepped
Inforce
Jon-Pierre
Child Cover
$100,000
$2,750.00
Death
$250,000
Jon-Pierre
IP
$5,897
Monthly
Jon-Pierre
TPD
$250,000
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Notes box
Back exclusion
100% loading for stress related illness
Any Occupation
Any Occupation
Inforce
Notes/Beneficiaries
60 Days
Age 65
Monthly
Inforce
Beneficiaries:
Smith, Mary (100.00%)
Level
Inforce
Stepped
Inforce
Inforce
Page 14
Any Occupation
Renewal date: 4 Sep
JPS Company
Jon-Pierre
AMP
Term Life Plus
445566
Death
$500,000
Jon-Pierre Smith
Smith and Jones
Partnership
Jon-Pierre
AC&L
Term and Disability Cover
AC99999
$1,500.00
$234.56
Death
$500,000
$4,578.99
TPD
$250,000
Inforce
Hybrid
Inforce
Monthly
Inforce
Stepped
Inforce
Yearly
Inforce
Level
Additional information
Insurance details
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Monthly
Page 15
Inforce
Notes box
Back exclusion
100% loading for stress related illness
Any Occupation
Notes box
Neck exclusion
Knee 100% loading
Type
Lumley General
Insurance (NZ)
Limited
Buildings and
Contents
Residential
Health Insurer/Product
Bupa Hospital Extras Plus
Details
Owner
Sum insured
Premium
Jon-Pierre Smith
$750,000.00
$125.00
$650,000.00
Type
Owner
Insured
Family
Jon-Pierre Smith
Mary Smith
Jon-Pierre Smith
Mary Smith
Premium
$5500.00 (AUD)
Additional information
General Insurance details
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 16
Estate planning
Estate planning
Client 1
Client 2
Existing Will?
Yes
Yes
01 Jul 2001
01 Jul 2001
03 Apr 2008
03 Apr 2008
Peter Adams
Peter Adams
Location of Will
JP Accounting
Testamentary trust?
If yes, who are the beneficiaries?
Powers of attorney?
Yes
Yes
No
Enduring
Enduring power of guardianship
Funeral plan?
Not in place
SA
Any bequests?
Executors (Client 1)
Notes
Peter Adams
Mary Smith
Executors (Client 2)
Notes
Beneficiaries (Client 1)
Age of entitlement
Andrew Smith
25
Mary Smith
Immediate
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Notes
Page 17
Notes
Type
Peter Adams
Enduring
Type
Notes
Notes
Additional information
(eg. For business owners, are buy/sell agreements and relevant insurance policies in place? Complete the separate Business Fact Find
where appropriate. )
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 18
Structures
Associated structures
Name
Type
Ownership
Purpose
Gillard SMSF
SMSF
Julia and Tony
Family fun
Other information
Company Name
Directors
Shareholders
TFN
ABN
SMSF Name
Trustees
Members
TFN
ABN
SFN
JPS Company
Hugo Walters
James Google
- 50 shares
- 50 shares
Supplied
77665544
Smith Family Super Fund
Jon-Pierre Smith
Mary Smith
Jon-Pierre Smith
Mary Smith
Not supplied
111222333
SMSF Name
Trustees
Members
TFN
ABN
SFN
Costaki Superfund
Partnership Name
Partners
TFN
ABN
Not supplied
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 19
Scope of advice
Initial reason for seeking advice
Record the initial reason why the client is seeking your advice. For example, there may be specific event (eg. house or business purchase,
marriage, birth of child, receipt of an inheritance, redundancy, moved to an aged care facility) or the client may want advice on specific
objectives (eg. retirement planning, estate planning, income protection, business succession insurance).
Advice limitations
Advice limitations
Has the client limited the advice or given directions as to the scope of advice? Yes
Provide details *:
During our discussions, you requested that we limit our advice to the scope of advice and the needs and objectives as
outlined in this Statement of Advice. Because of this request, it is important that you are aware that we have not provided
advice on the following: [insert excluded advice areas excluded and where applicable give the reason for exclusion]
e.g. Trauma insurance because you have indicated you do not currently have the cashflow to afford the
additional premiums.
e.g. Your direct share portfolio as you have this managed by your stockbroker, [name], and you want to continue
with that arrangement.
Due to the reduced scope of our advice, [insert implications] e.g. this SOA may not address all of your issues and
needs/the types and levels of insurance cover may not be appropriate to your needs.
[Insert recommended actions (if any)] e.g. We recommend you review your insurance requirements at your next annual
review meeting or earlier if your circumstances change.
Clearly outline the aspects that the client has taken out of scope. Examples: (i) you may identify an issue with the clients cashflow/debt/retirement or
estate planning position but the client declines advice in those advice areas, (ii) within a particular advice area like Insurance, the client may decline a type
of cover, or they may select the actual amount of cover, or limit the total premium, (iii) the client may wish to retain/purchase/sell a component within
their investment or insurance portfolio without your advice).
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 20
Yes
Provide details :
We note that you were unable to provide some of the information we requested. In particular, we have not been given
details about abc. You are aware that this limits our ability to provide advice based on a full consideration of your
complete situation. As a result, the recommendations may not be appropriate to your particular financial situation.
Therefore, you should carefully assess the appropriateness of the recommendations in light of your overall financial
situation. Of course, we will endeavour to provide appropriate advice based on the information you have provided.
Steps taken to obtain information box.
*
Clearly outline what information is incomplete and/or inaccurate and the steps you have taken to obtain the information you require.
Adviser expertise
Adviser expertise
Do you have the necessary expertise to give the advice?
No
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 21
Description
You have reduced your work hours and wish to access your super to top up your reduced work income with
pension income. You want to increase your take home pay by $12,000 per annum to $70,000 per annum.
To review your Estate Planning arrangements to ensure that your wishes will be followed in relation to your
financial and personal matters in the event of your death. Also, you want to ensure that your affairs are taken
care of in the event you are incapacitated.
a well diversified portfolio that is actively managed so that it works hard for them
the ability to incorporate direct shares and term deposits in their portfolio as well as the 'usual' sector specialist
managed funds
an administration system that provides 24/7 access to their portfolio status and the ability to obtain good online
portfolio reports
regular access to our services so they can 'keep on top of' everthing that's going in their portfolio.
Include any client concerns and preferences that the client wants you to consider when formulating your advice. For example, access to funds, security of
capital or income, desire for tax efficiency, portfolio style (active/passive/control) and make-up (direct v managed, access to cash/TDs/shares), desired
features of superannuation platform (e.g. auto-rebalancing, daily unit pricing, ability to select and maintain exact amount of cover, allows TTR pensions and
binding nominations, view account balances online, make contributions by BPay, contribution splitting, overseas pension transfers), particular financial
products the client wants you to consider, attitudes to managing debt (is repaying debt a priority? at what age does the client want all debts repaid)
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 22
Present Value
Detailed
Yes
Income
Protection
pa
Business
Expenses
pa
$56,250
$0
Life
TPD
Trauma
$250,000
$731,106
$250,000
$0
$62,500
$0
$0
$0
$0
$0
$250,000
$100,000
$0
$0
$0
$0
$0
$30,000
$0
$0
$0
$981,106
$250,000
$530,000
$530,000
$162,500
$162,500
Capital Provisions
Disposable Assets
Continuing Income (PV)
$0
$438,664
$0
$438,664
$0
$0
$438,664
$438,664
$0
Insurance Needs
Total Cover Required
Existing Cover
$542,443
$0
$500,000
$0
$162,500
$0
$56,250
$0
$0
$0
-$542,443
-$500,000
-$162,500
-$56,250
$0
30 years *
30 years *
Capital Requirements
Liabilities to clear
Future Expenditure Required
Future Education Expenses
(PV)
Medical costs/Recovery
income
Provision for Tax
Other Provisions
Other
Surplus/Shortfall
Projection/Funding Period
Actual Funding Period
* Based on cashflow
projection
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 23
Present Value
Detailed
Yes
Income
Protection
pa
Business
Expenses
pa
$0
$0
Life
TPD
Trauma
Capital Requirements
Liabilities to clear
Future Expenditure Required
Future Education Expenses (PV)
Medical costs/Recovery income
Provision for Tax
Other Provisions
Other
$250,000
$169,088
$0
$0
$0
$0
$0
$250,000
$169,088
$0
$0
$0
$0
$0
$0
$169,088
$0
$0
$0
$0
$0
$419,088
$250,000
$419,088
$250,000
$169,088
$0
$0
$0
$0
$0
$0
$0
$419,088
$0
$419,088
$0
$169,088
$0
$0
$0
$0
$0
-$419,088
-$419,088
-$169,088
$0
$0
Capital Provisions
Disposable Assets
Continuing Income (PV)
Insurance Needs
Total Cover Required
Existing Cover
Surplus/Shortfall
Projection/Funding Period
Actual Funding Period
* Based on cashflow projection
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 24
Client 1
Client 2
Height
183 cm
155 cm
Weight
80 kg
55 kg
Smoker?
If No, when ceased?
If Yes, number/day
Yes
No
15
Administrative %
100.00%
75.00%
Manual %
0.00%
0.00%
Supervisory %
0.00%
25.00%
Travel %
0.00%
0.00%
Yes
No
No
No
No
No
Hazardous pursuits
Client 1
Client 2
Sky diving
Nil
Additional information
Provide additional details on the information in the above needs analysis and underwriting tables. Explain the reasons why the Agreed
cover is less than the Cover required (if applicable).
Underwriting details
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 25
Agreed profile
Client 1
Client 2
Moderately aggressive
Moderate
Additional information
Additionsl Info Risk Profiling.
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 26
Adviser notes
Adviser notes
Adviser notes
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 27
Fee details
Details
Advice fee (preparation of SOA)
$2,750.00
Payment method
I/We have agreed to pay this fee [enter alternative form of payment].
Communication preferences
Communications
Details
jpsmith@bigpond.com.au
Privacy/FDS/FSG details
FSG details
Details
Privacy discussed?
Yes
31 Oct 2014
03 Oct 2012
Client 2
Yes No
Yes No
Investment schedule
Yes No
Yes No
Yes No
Yes No
Business expenses
Yes No
Yes No
Business insurance
Yes No
Yes No
SMSF information
Yes No
Yes No
Budget
Yes No
Yes No
Yes No
Yes No
Yes No
Yes No
Opex Advice
____________________________________
______________
Signature
Date
ABC Financial Services Pty Ltd | ABN 111 222 333 AFSL 222333444
Page 28