Personal Financial Planning Case:
During a routine financial planning meeting, your married client, Jane Smith reveals last year, she spent $936,000 funding her boyfriend’s business. Also, she is hiding $1,500,000 in a secret bank account just in case something goes wrong in her marriage. Both Mr. and Mrs. Smith hired you as their financial advisor.
What are the relevant facts?
What are the ethical issues?
Who are the primary stakeholders?
What are the possible alternatives?
What are the ethics of the alternatives?
What are the practical constraints?
What action(s) should you as the financial advisor take in the case?