Important to Set Path and Provide Information Preparation of a Financial Plan - Accounting and Finance Assignment Help

Assignment Task:

Task:

Preparation of a Financial Plan
Financial plans are important to set a path and provide information about the progress of one’s achievement of his goals. This assignment is designed to provide you with some practice on the development\ of financial plans taking into account of the first three (3) steps of the Financial Planning Process (Keown,2014). This would include evaluation of the client’s financial health (including the risk profile assessment), defining the financial goals and development of a plan of action.

The case as follows:
You are a finance and banking graduate from a reputable private university in Malaysia. Upon graduation, you have been accepted as a financial planner at Axia Capital Sdn. Bhd. Based in Kuala Lumpur. Axia Capital is a licensed fund management company by Securities Commission Malaysia (SC) since 2008. This firm is also an Institutional Unit Trust Adviser (IUTA) and a financial planning company. As a financial planner, your responsibility is to actively solicit and drive sales. In addition, you must manage and support clients’ investment portfolio. Furthermore, you must possess relevant licensing qualification from relevant regulators such as Certified Financial Planner from Financial Planning Association of Malaysia, Unit Trust Scheme Consultant from Federation of Investment Managers Malaysia and Certificate Examination in Investment-Linked Life Insurance (Ceilli) from the Malaysian Insurance Institute. After working for years, you have decided to open a consultancy firm related to wealth management

The following are the requirements for the assignment.
a) Introduction/Role of professional wealth management. (600 words)

•  Explain three (3) characteristics that a professional wealth manager should have.
•  Discuss three (3) ways professional wealth managers can help their clients to achieve financial freedom.
•  Identify and discuss three (3) actual wealth management products offered by banks and explain how each of them can help achieve a financial planning objective. Justify your answers by providing an example each.

b) Risk profile assessment (600 Words)
Your view about this client.

•  Demographics
•  Personal commitments
•  Financial goals
•  Any relevant issues related to building a proper risk profile
•  Summarize the main points from the information.
•  Determine the risk profile of your respondent.
•  Discuss by providing three (3) points on your final risk profile assessment of your respondent.

c) Financial Goal (900 words)

•  Summarize the financial goals of your client in the table below. There should at least be one short-term, medium term and long term goal respectively.

The example of a summary table is as follows:

• SMART concept specifically to each of the above financial goals. Provide a short write up to explain to explain ach of your plans above.
   

d. Investment Planning (900 Words)

•  Using the principles that you have learnt and the risk profile in (i), suggest three(3) actual investment products that would form the portfolio achieve the medium term and long term goal respectively.
•  Provide proper details and justifications for each of medium and long term investment strategies above. Provide at least three (3) reasons to support each of the strategies you have suggested.
•  Support your answers with relevant calculations.

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