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Comprehensive financial plan

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Reference no: EM132067840 , Length: 50 pages

Comprehensive Financial Plan

It is a Comprehensive Financial Plan of a Canadian couple.

Expectations for your Comprehensive Financial Plan

The Comprehensive Financial Plan is an individual assignment.

You are required to find a client that you will complete a financial plan for. Try to find a client that would be suitable for financial planning. If you have questions with regards to the suitability of the client you choose, please check with your professor. If you are unable to find a suitable client, a paper case will be given to you.

Page Requirement

There is no minimum page requirement for your final submission. However, as a guide, it is common for quality financial plan submissions to be 40-60 pages in length. A submission of less than 20 pages would very likely be substandard.

Structure

Your plan should largely follow this structure:
- Disclaimer Letter (if using Live Client)
- Letter of Engagement (adjusted based on feedback from previous submission)
- Client Profile (adjusted based on feedback from previous submission)
- Goals and Objectives (adjusted based on feedback from previous submission)
- Fully defined goals that are SMART in nature
- Assumptions
- At minimum, you should include assumptions on the following:
- Inflation
- ROR
- Life expectancy
- MTR and ATR
- Planning Components
- Each area should include an introduction and clarify the client's present situation. Your analysis should identify problem areas and opportunities. A recommendation to help optimize the client's situation should be stated.
- Financial Management
- Includes:Financial Statements&Emergency Fund Analysis
- Investment Planning
- Retirement Planning
- Tax Planning
- Insurance & Risk Management
- Estate Planning & Legal Aspects
- Recommendations
- A summary of recommendations for each finanical planning component. Preferably prioritized.
- A revised cash flow incorporating recommendations should be presented.
- Implementation/Monitoring Schedule
- A time schedule should be used showing who is responsible for implementation
- Appendix
- Your appendix should include information like the following:
- Tax estimates (taxtips.ca printouts)
- Policy quotes
- Fund Facts
- Risk tolerance questionnaire (if using Live Client)

There are six official and arguably seven planning components in a financial plan. A comprehensive case requires all to be addressed but must have a minimum of 4 fully developed. Plans will be evaluated based on the CFP Professional Competency Profile.

The Case: Greg Sanders and Ardelle Hope

Attachment:- Case Study and Template.rar

Reference no: EM132067840

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Reviews

len2067840

7/27/2018 11:47:18 PM

There is no minimum page requirement for your final submission. However, as a guide, it is common for quality financial plan submissions to be 40-60 pages in length. A submission of less than 20 pages would very likely be substandard.

len2067840

7/27/2018 11:47:06 PM

The following is an approximate guide for the evaluation weight of each part of the comprehensive plan – final submission. The plan must be complete in order to receive a grade. Final Submission Item Weight Engagement Letter 2.5% Client Profile 2.5% Goals and Objectives 2.5% Assumptions 2.5% Financial Management 15.0% Investment Planning 10.0% Retirement Planning 15.0% Tax Planning 5.0% Insurance & Risk Management 15.0% Estate Planning & Legal Aspects 5.0% Recommendations 10.0% Implementation 5.0% Professionalism 10.0% Less: Penalties Total 100.0%

len2067840

7/27/2018 11:46:56 PM

There are six official and arguably seven planning components in a financial plan. A comprehensive case requires all to be addressed but must have a minimum of 4 fully developed. Plans will be evaluated based on the CFP Professional Competency Profile. Per below, the final submission is worth 30% of your final course grade. The Comprehensive Financial Plan Course Section is worth 40% of your course grade. A passing grade on the Comprehensive Financial Plan Section is required in order to pass the course. Comprehensive Financial Plan % of Final Grade Plan Presentation 10% Final Submission 30% Total 40%

len2067840

7/27/2018 11:46:30 PM

It is a Comprehensive Financial Plan of a Canadian couple. So all the working have to be according to Canadian rules Paper cases have significant limitations as they are simply black ink on white paper and not people. This case will attempt to give you a sense of who these people are but you will still need to ask some questions and make some assumptions as you work toward an overall solution for this family. As outlined in the Client Profile assignment, you are permitted to ask 5 questions to the professor about the clients.

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