Problem
Summary of discussions with clients Mr Danic & Mrs Ahthea:
Danic and Anthea don't feel like there's any problems with managing their money but do feel that they can probably invest better. They don't want to lock all their savings away as they still would like access if needed.
Anthea doesn't want advice, but Danic feels like his funds are a mess and can't even tell how performance, fees are tracking.
Danic would like to get his superannuation sorted into just one fund, that's easy to track, that makes sense in how it's invested and meets what he wants in terms of the risk/return in the way it's invested.
Danic also wants to hold insurances inside superannuation where possible, so they reduce the impact to his cashflow as unlike Anthea, Danic is more concerned about his immediate cashflow.
Anthea wants to keep her existing superannuation fund but doesn't want her insurances held within superannuation as she doesn't want her retirement balance to reduce due to premiums.
Anthea wants recommendations for any insurances to be made outside of super.
Danic and Anthea own a three-bedroom house which they would like to pay off as soon as possible.
Both Danic and Anthea are concerned they haven't got any protection in an event like a heart attack.
Danic and Anthea feel they're both very outgoing people and feel like they'll be spending about the ame in retirement that they're spending now. They don't want to compromise their lifestyle.
Anthea has been considering a career change into teaching for a while and will decide in the next few months if she's going to do it. No firm plans are in place at this stage.
Danic and Anthea are very happy where they live and don't wish to consider downsizing.
Task
1. Identify scope of advice areas that is required to be included in recommendations.
2. Identify clients' goals and objectives that are measurable, time specific and in priority order.