Financial Planning Questionnaire

Transcription

1 Financial Planning Questionnaire Issue Number 1 March 2012 Prepared for Adviser Name

2 Contents Personal Details 3 Lifestyle and Financial Goals 5 Investment Preferences 7 Income and Expenses 8 Social Security 10 Assets and Liabilities 11 Superannuation and Income Streams 14 Insurance 16 Insurance Needs Analysis 17 Health and Estate Planning 19 Authorisation 20 Client authorisation for Additional Information from Institutions or Financial Advisers 22 Investment Replacement Checklist 24 Insurance Replacement Checklist 26 Superannuation/Pensions Replacement Checklist 29 2 Financial Planning Questionnaire

3 Personal Details Client 1 Client 2 Title (e.g. Mr, Mrs) Surname Given name Preferred name Gender Marital status Male Female Male Female Date of birth (DD/MM/YYYY) Retirement age Relationship between clients 1 & 2 Residential address State Postcode State Postcode Postal address (write as above if same as residential address) State Postcode State Postcode Home telephone Business telephone Mobile address Facsimile Preferred contact method Occupation Employment status Hours worked per week Employer s name Employer s address Full-time Part-time Self employed t working/retired Full-time Part-time Self employed t working/retired Employer s phone number Date employment commenced Is salary packaging available? If self-employed, what is the business structure? Sole Trader Company Sole Trader Company Partnership Split % Partnership Split % Financial Planning Questionnaire 3

4 Client 1 Client 2 Are you an Australian resident for taxation purposes? If no, which country? Are you fluent in English? Do you require the assistance of an interpreter? Dependants Name Date of birth Relationship When would you expect dependency to cease? Third Parties Name Phone Address Family member Accountant/Tax agent Banker Solicitor Doctor Do you need to consult any of the above in your decision making process? If yes, who? tes 4 Financial Planning Questionnaire

5 Lifestyle and Financial Goals Details of Explicit Needs/Client Verbatim Amount/Instruction Address now Ongoing goal Address in years t in scope Address now Ongoing goal Address in years t in scope Address now Ongoing goal Address in years t in scope Address now Ongoing goal Address in years t in scope Address now Ongoing goal Address in years t in scope Address now Ongoing goal Address in years t in scope Financial Planning Questionnaire 5

6 Details of Explicit Needs/Client Verbatim Amount/Instruction Address now Ongoing goal Address in years t in scope Address now Ongoing goal Address in years t in scope Address now Ongoing goal Address in years t in scope Address now Ongoing goal Address in years t in scope Address now Ongoing goal Address in years t in scope Address now Ongoing goal Address in years t in scope 6 Financial Planning Questionnaire

7 Investment Preferences Please indicate the level of preference to the following options (where 1 is important, 2 is neutral and 3 is not important). Flexibility and diversity in investment choice Simpler administration Automatic asset allocation/ rebalance Greater control and more active management Cost effectiveness Do you have any environmental, social or ethical considerations that need to be taken into account? Client 1 Client 2 If yes, please give details: If yes, please give details: tes Financial Planning Questionnaire 7

8 Income and Expenses Income Select Frequency: Weekly Fortnightly Monthly Yearly Source of income (before tax) Client 1 () Client 2 () Joint () n-taxable () Salary and/or wages (include SG contributions) Bonus income Social security income Maintenance (e.g. child or spousal) income Investment income Pension/annuity income Distribution income (e.g. trust) Net rental income^ Net business income (e.g. sole trader, partnership) taxable income (e.g. director s fees) Subtotal Income Total combined income (before tax) Less: Estimated tax and/or other deductions (e.g. super, salary sacrifice, salary packaging) Net combined income * Where these payments attract superannuation contributions, you must consider these if making a superannuation contribution recommendation, with reference to the superannuation contribution limits. ^ Include where there is a long-term tenancy agreement in place of at least 12 months. tes 8 Financial Planning Questionnaire

9 Expenses Select Frequency: Weekly Fortnightly Monthly Yearly Client 1 () Client 2 () Joint () n-taxable () Household (rates, utilities, food, etc.) Car/boat/transport Rent/ home mortgage Credit cards debt repayments Personal (e.g. clothing) Transport (e.g. car(s), fares) Insurance premiums (general/life) Medical/dental Dependant(s)/maintenance payments Entertainment Education Holidays Superannuation contributions* Business overheads Regular savings plans Donations (charity/foundation) Total combined expenses Surplus/deficit (total net combined income less total combined expenses) * Includes non-concessional or spouse superannuation contributions. te, concessional or salary sacrifice contributions are recorded at Income above. Summary: Income, Expenses and Savings () What are your living costs? (from above) How much do you or your household save each year? Do you expect any changes to your income and/or expenses? If yes, please provide details How much readily accessible money do you expect you might need to meet emergencies and your day-to-day expenditure?* How is your surplus used or deficit met? p.a. p.a. p.a. * Cash, savings, liquid investments. Financial Planning Questionnaire 9

10 Social Security Are you currently eligible for Centrelink/DVA benefits? If yes, what benefit(s) are you eligible for? Please provide details of the benefits received, such as frequency, reason, length of payment, etc. Do you have any Centrelink/DVA concession cards (PCC, HCC or CSHC)? Have you gifted assets in the last 5 years? If yes, how much and when? Client 1 Client 2 tes 10 Financial Planning Questionnaire

11 Assets and Liabilities Assets Amount () Owner Date Purchased Insured and up to date? Principal residence Home contents Motor vehicle Caravan, boat, etc. Collectibles Holiday house Business goodwill Business (plant, equipment and stock) Insurer Sum Insured () Premium () Centrelink Value () Financial Planning Questionnaire 11

12 Liabilities Lender Owner Facility/ Limit () Balance () Interest Rate (%) P&I or Interest. only Start Date Term Monthly Repayment () Secured against Deductible Mortgage N/A Credit cards N/A N/A Storecards N/A Investment / margin loan Personal loans Business loans Does anyone act as a loan guarantor over any of these loan obligations? If yes, please specify the name of guarantor(s) and for which loan(s) tes Extra information regarding repayment options Principal and Interest (P&I) or Interest only, frequency of payment and any establishment, exit or other applicable fees payable, etc. 12 Financial Planning Questionnaire

13 Investments and savings Cash and fixed interest investments Owner Current value () Interest rate (%) pa Purchase date Maturity date Reinvest income Amount ( or %) to re-allocate Direct property investments Owner Current value () Rental (as at / / ) income () Purchase price () Purchase date Mortgaged Re-allocate Shares and managed funds Owner Current value () Total units/ (as at / / ) shares Purchase date Geared Re-invest income Amount ( or %) to re-allocate Savings plans Owner Amount () Start date Term Frequency Financial Planning Questionnaire 13

14 Superannuation and Income Streams Superannuation Details Superannuation &/or Rollover Funds* Owner Current value () Start date Super Choice Amount ( or %) to re-allocate * Where the fund is a SMSF, please complete the SMSF Investment Strategy Workbook. Previous Contribution Amounts Superannuation contributions made in the current financial year and previous two (2) financial years Client 1 Client 2 Current Financial Year Year ending Concessional amount n-concessional amount Previous two (2) Financial Years Year ending Concessional amount n-concessional amount Year ending Concessional amount n-concessional amount 30/06/ 30/06/ 30/06/ 30/06/ 30/06/ 30/06/ te: You must ensure that Income Bonus, Salary Sacrifice and/or employer Superannuation Guarantee payments are reflected in the above table. 14 Financial Planning Questionnaire

15 Current Pension Annuity Owner Fund name Pension/annuity type Complying (Centrelink) Date of purchase Investment amount Current value Current units Centrelink deductable amount Tax free component Taxable component Income p.a. Indicate min/max/ specified Payment frequency Term of pension/ annuity Indexed Indexation rate % % % % Residuary capital value Reversionary Death Benefit nomination Redundancy or early Retirement Payment Have you, or will you expect to receive a Redundancy or Early Retirement Payment? Please provide any documentation relating to such payments. Service period Client 1 Client 2 Employment commencement date Date employment to cease Amount of redundancy/ early retirement payment Payment for unused annual leave Payment for unused long service leave Will you have to exit the superannuation fund? Financial Planning Questionnaire 15

16 Insurance Current personal insurance (term life cover, total & permanent disability (TPD), trauma, whole of life or endowment) Provider Type Life insured Owner/ beneficiary Cover level () Annual premium () Surrender value (if any) () Maturity value (if any) () TPD definition own/any/home duties/general Inside/outside Super Retain What existing assets would be realised (fully and/or partially) in the even of death/tpd/trauma? Asset Amount () Owner Death TPD Trauma Current income protection or salary continuance insurance Provider Owner Agreed or indemnity value () Monthly benefit () Annual premium () Waiting period Retain Inside or outside Super Benefit payment period tes 16 Financial Planning Questionnaire

17 Insurance Needs Analysis In the event of death Client 1 Client 2 Joint Debts to extinguish Proportion of the income to replace % % Income required To age or for years To age or for years Annual cost per child Expenses on death e.g. funeral costs, legal costs, etc. In the event of total & permanent disability (TPD) Debts to extinguish Proportion of the income to replace % % Income required To age or for years To age or for years Annual cost per child One off medical/lifestyle cost(s) Annual medical/lifestyle cost(s) for years for years In the event of trauma Debts to extinguish Proportion of the income to replace % % Income required To age or for years To age or for years Annual cost per child One off medical/lifestyle cost(s) Annual medical/lifestyle cost(s) for years for years In the event of illness or injury Replace income % % Replace portion of Superannuation Guarantee? Do you have an alternative source of income? How many months can you go without your income? In the event of child trauma Sum insured per child Financial Planning Questionnaire 17

18 Insurance Features desired Client 1 Client 2 Death Buy back Extend expiry age on Life cover (e.g. until 99) TPD Buy back Own occupation definition Income Protection Agreed value Preferred waiting period 30 days 60 days 90 days te, for BT Protection Plans, the first payment is generally paid monthly in arrears after the waiting period is completed. Trauma Buy back Re-instatement Stepped or level premiums CPI automatic adjustment Automatic upgrade in better features and benefits Flexibility to adjust structure of premium to your needs Child Benefits tes 18 Financial Planning Questionnaire

19 Health and Estate Planning Health Client 1 Client 2 What is the state of your health? Smoker Excellent Good Poor (specify) Excellent Good Poor (specify) Are there any health issues that need to be considered in making an investment or insurance decisions? If yes, please provide details Do you have private health insurance? If yes, please outline the provider details Accrued sick leave days Accrued annual leave days Accrued days long service leave What are the main duties of your occupation? Are you involved in any hazardous pursuits? If yes, please provide details Estate Planning Client 1 Client 2 Power of Attorney Do you have a current Power of Attorney? If yes, please state type: Will Do you have a Will? Enduring Medical rmal General Enduring Medical rmal General What is the date of your Will? Who is the executor? Adequacy and Equity Will sufficient funds be available to your dependants between your death and the distribution of your Estate? Have you considered Capital Gains Tax on any assets you bequeath directly to beneficiaries? Superannuation Assets Have you made binding nominations on death? If yes, who? Financial Planning Questionnaire 19

20 Authorisation Client acknowledgement I/We have received a copy of the Magntiude Financial Services Guide and Credit Guide (FSG & CG) at the first interview and have read and understood it, including the section titled Privacy Statement. I/We agree to Kelly Wealth Services collecting, using and disclosing my/our personal information in accordance with the Magnitude Privacy Policy. I/We will inform any other individual, such as dependants, spouse and/or partner, that I/we have provided information about them and make them aware of the information provided in the Magnitude Privacy Policy. Client 1 Name Client Signature Date Client 2 Name Client Signature Date Financial Adviser Name Financial Adviser Signature Date Client authorisation I/We and confirm that: I/We have received a copy of the Financial Services Guide Part 1 Version, dated and Part 2 Version dated at (or prior to) the first interview and have read and understood it, including the section titled How we protect your privacy. My/our risk profile is: Client 1 Client 2 As agreed in the Determining your Investment Risk Profile booklet. I/We authorise box/s):, an Authorised Representative of Magntiude, to (tick the relevant Retain and store my Tax File Number for the period the Authorised Representative is acting on my/our behalf. Quote my/our Tax File Number information to the Australian Taxation Office when necessary and investment bodies when making investments on my/our behalf. Client 1 Client 2 Tax File Number Tax File Number 20 Financial Planning Questionnaire

21 Collect, use and disclose my personal information in accordance with the Magnitude Privacy Policy. Provide financial advice based on the information disclosed in this booklet and acknowledge that my/our Adviser will rely on the information contained in this document. I/We will inform any other individuals, such as dependants, spouse, partner that I/We have provided information about them and make them aware of the information provided in the Magnitude Privacy Policy. Retain my/our medical evidence on file. To proceed with a Statement of Advice based upon the information contained in this booklet. To charge a fee of of Advice to: for preparing a Statement of Advice and on completing the Statement Debit my bank account (Where fees are paid via direct debit please complete a direct debit authority form) Bank the attached cheque (Please make cheque payable to Kelly Wealth Services) (please specify): Client authorisation to proceed to advice I/We request that you provide financial advice based on the information disclosed and acknowledge that you will rely on the information contained in this document. Basis of advice Full Advice: I/We have provided you with all relevant information, and have agreed to a full financial plan. Limited Advice (tick only one option below): Specific goals and objectives: I/We have provided you with all relevant information in relation to the limited advice that I/we have specifically requested. I/We have been offered full advice however at this time I/we have specifically asked you to limit the advice to: Specific Product: I/We have provided you all relevant information in relation to the product I/we wish to receive advice on. I/ We have been offered full advice however at this time I/we have specifically requested you to limit the advice to the following product(s): I/We acknowledge that you will charge a fee of for the written advice. Client 1 Name Client Signature Date Client 2 Name Client Signature Date Financial Planning Questionnaire 21

22 Financial Adviser Name Financial Adviser Signature Date The following documents have been supplied: Bank/Investment/Superannuation statements Financial Statements (Audited Financial Statements only if self-employed from last 2 years only) Tax Returns (last 2 years if self-employed only) ETP Statements ATO Assessment tices (last 2 years if self-employed only) Client Authorisation for Additional Information from Institutions or Financial Advisers To whom it may concern: Client 1 Client 2 I/We whose date(s) of birth is/are of (client address) Request that all information relating to my/our investments, insurances, superannuation, bank accounts and/or other financial information be released to Kelly Wealth Services on request. Yours faithfully, Client 1 Name Client Signature Date Client 2 Name Client Signature Date Account/Policy# Account/Policy# Account/Policy# Account/Policy# Account/Policy# Account/Policy# Account/Policy# Account/Policy# 22 Financial Planning Questionnaire

23 Financial Adviser contact details Name Address Mobile Telephone address Facsimilie To whom it may concern: Client 1 Client 2 I/We whose date(s) of birth is/are of (client address) Request that all information relating to my/our investments, insurances, superannuation, bank accounts and/or other financial information be released to Kelly Wealth Services on request. Yours faithfully, Client 1 Name Client Signature Date Client 2 Name Client Signature Date Account/Policy# Account/Policy# Account/Policy# Account/Policy# Account/Policy# Account/Policy# Account/Policy# Account/Policy# Financial Planning Questionnaire 23

24 Client Authorisation for Additional Information from Institutions or Financial Advisers Financial Adviser contact details Name Address Mobile Telephone address Facsimilie Investment Replacement Checklist Financial Adviser Date Client Name Investment Details Current Proposed Investment Provider Product name Type of fund Cash Unit Trust Master trust Wrap Cash Unit Trust Master trust Wrap Commencement date Current balance Units Units Fees ( amount/% p.a.) Entry Exit MER/ICR Buy/Sell Spread Administration/Account-Keeping Switching Fee Financial Adviser Fee 24 Financial Planning Questionnaire

25 Will the replacement result in: Duplication of entry fees (p.a.) Capital loss on initial investment Capital gains tax liability Loss of taxation benefit break of 125% contribution rule (Insurance Bonds) Any other taxation implications Adjustment to Centrelink benefits Platform Fees Type of Fee: Current Proposed () (%) () (%) Entry Exit Buy/Sell Spread Administration Financial Adviser Fee Switching Fee Current Underlying Investment name(s): Underlying Investment Details Balance () MER/ICR (Including Performance Fee) () (%) Total (Balance and Weighted MER) Proposed Underlying Investment name(s): Balance () MER/ICR (Including Performance Fee) () (%) Total (Balance and Weighted MER) Financial Planning Questionnaire 25

26 Insurance Replacement Checklist Cash Fixed Interest Australian Shares International Shares Property Current Asset Allocation Proposed () (%) () (%) Is the proposed (or similar) asset allocation available on the client s existing investment? If yes, what is your justification for recommending a new product? Does the product have access to: Direct shares Term deposits Income stream(s) In-specie transfer Asset Allocation Product Features and Benefits Details Single sector Multi-manager Outline the benefit(s) to the client of replacing existing investment(s): Unable to access all information (please include incomplete information warning). 26 Financial Planning Questionnaire

27 Financial Adviser Date Client Name Insurance Details Current Proposed Insurance Provider Product name Type of cover Accidental death Super Ordinary (Life, TPD, Income Protection) Accidental death Super Ordinary (Life, TPD, Income Protection) Life Insured Commencement date Name of underwriter Type & sum insured: Death TPD (Any/Own/Home duties) Trauma Income Protection Agreed value or % Indemnity value TPD option Waiting period Benefit period Agreed value or % Indemnity value TPD option Waiting period Benefit period Premium structure Stepped Level Stepped Level Premium payable (from quote) Indexation linked? Policy Fee (p.a.) (from quote) Occupation Category (from quote) Increased premium/policy fee (p.a.) Health loadings Loss of loyalty discount Loss of benefit (e.g. suicide exclusion) Loss of bonus (e.g. Whole of life or Endowment policies) Surrender Value (if there is an investment value) Will the replacement result in: Is there an option to increase/decrease the existing policy? (te: some older policies have more favourable terms than the newer policies) Financial Planning Questionnaire 27

28 Outline the benefit(s) to the client of replacing existing insurance(s): Unable to access all information (please include incomplete information warning). 28 Financial Planning Questionnaire

29 Superannuation / Pension Replacement Checklist Financial Adviser Date Client Name Superannuation Details Current Proposed Superannuation Provider Product name Type of fund Employer Personal Employer Personal Industry Industry If an employer fund, is it: Defined Benefit Accumulation Pension Annuity Defined Benefit Accumulation Pension Annuity Membership number and date joined Fund Number: Number: Current balance Units Units Surrender value Regular contribution received? Type of contribution Concessional n-concessional Concessional n-concessional Contribution received over previous 3 years? (If yes, please complete the table on page 14) Tax free component ( i.e. concessional, Pre 1983, nconcessional, Post-June 1994, Invalidity, CGT Exempt) Taxable Component ( i.e. post 1983) Taxed Untaxed Taxed Untaxed Restricted n-preserved Amount Preservation Status: Preserved Restricted n-preserved Unrestricted n-preserved Preserved Restricted n-preserved Unrestricted n-preserved Compulsory preserved benefit: Beneficiaries Name % Name % Type of nomination ne Binding n-binding n-lapsing Reversionary ne Binding n-binding n-lapsing Reversionary Current death benefit Premium Stepped Level Is there an existing insurance policy attached to the current superannuation fund? If yes, please complete the insurance replacement checklist. Policy Fee Financial Planning Questionnaire 29

30 Platform Fees Type of Fee: Current Proposed () (%) () (%) Entry Exit Buy/Sell Spread Administration Financial Adviser Fee Switching Fee Current Underlying Investment name(s): Underlying Investment Details Balance () MER/ICR (Including Performance Fee) () (%) Total (Balance and Weighted MER) Proposed Underlying Investment name(s): Balance () MER/ICR (Including Performance Fee) () (%) Total (Balance and Weighted MER) Cash Asset Allocation Current Proposed () (%) () (%) Fixed Interest Australian Shares International Shares Property Is the proposed (or similar) asset allocation available on the client s existing investment? If yes, what is your justification for recommending a new product? 30 Financial Planning Questionnaire

31 Does the product have access to: Direct shares Term deposits Income stream(s) In-specie transfer Asset Allocation Product Features and Benefits Details Single sector Multi-manager Will the replacement result in: Capital loss on initial investment Duplication of entry fees Loss of employer provided insurance e.g. Death/TPD and/or salary continuance If yes, please provide details. Has a replacement been recommended? Loss of ancillary benefits? If Defined Benefit, has pension option been explored? If yes, please provide details: Change in preservation status Any impact on Centrelink benefits If yes, please provide details: Change in preservation status If yes, please provide details: Outline the benefit(s) to the client of replacing existing superannuation/pension fund(s): Unable to access all information (please include incomplete information warning). Financial Planning Questionnaire 31

32 Contact Kelly Wealth Services for further information on (07) or visit Referral Type: Referrer Name: Referral Source Financial Adviser referral Self generated Magnitude Group Pty Ltd ABN , AFSL and ACL number MC lc