Financial planning
Philip88
AssignmentPart4W2019withrubric2.docxAssignment 4 – Full plan
Please read the assignment overview. This is an individual assignment. Similar work, spreadsheets, or other information will be treated as an academic offence.
Review assignment 1, assignment 2, and assignment 3 instructions. All details for all three assignments are relevant to assignment 4.
Pull assignment 1, 2, and 3 into one overall report to make the full plan for assignment 4. This covers your client’s current financial situation (assignment 1), your client’s goals (assignment 2), and your suggestions for changes in order to achieve the goals (assignment 3).
Improve your work from parts 1, 2, and 3 using the original assignment instructions, feedback provided to you individually through marking, your improved understanding of this process, and general feedback provided to your class.
Make sure to review the original assignment instructions for each to make sure you have incorporated all instructions. Assume that if you submit the same work again that your grade will be lower this time.
Assume that this final report is the only report that will be read. Do not assume that the reader already has information from previous assignments. This is the full plan. Include all parts. I will not be looking back at your previous assignments.
Include the following items, in the following order:
1. Cover Page – Title – e.g. Financial Plan for Client Name, Date, your name, Professor name
2. Client Letter/full report including introduction, analysis of current financial situation, goals, action plan, closing
3. Net Worth Statement
4. Cash Flow Statement
5. Revised Cash Flow Statement
6. Appendix showing time value of money calculations of goals, assumptions, detailed explanations of expenses, and any other calculations underlying your analysis. All calculations here. No calculations in the written text.
Write your summary to your client in a proper letter format including addresses, dates, salutation and closing. Make sure there is an introduction, main body, and closing. You should be able to write everything in two to three typewritten pages. Carefully avoid repetition, and try to make it flow logically.
It’s unlikely you can simply cut and paste your existing text from assignments 1-3 and have a good result.
Make sure your final letter is spell-checked and grammar-checked and has a uniform professional appearance. Remember to write to your client (2nd person), not about your client (3rd person).
When you work on your spreadsheets, make sure it is easy to connect the cash flow items to the commentary in your cover letter. e.g.: if you say in your letter that you need to save $300/month in order to achieve your two goals, and you must reduce entertainment expense categories by $150/month each to do this, then you must show these exact numbers in the revised cash flow so that the client can easily connect this information between the letter and the statements. It is fine to round the numbers. It’s easier for a client to read about $80 /month than $79.23. Just note that you are rounding the number in the appendix.
Submit to the FOL drop box as one document. Make sure pages are all facing the same direction so client does not have to rotate pages to read.
Submit your document by the due date to the FOL drop box for grading by the professor. Immediate late penalty of 20%. Additional penalty 20% for each additional 24 hours late.
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Criteria |
Top quality, exceeds expectations 4 points |
Meets most expectations 3 points |
Weak in a significant way 2 points |
Does not meet expectations 0 points |
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Statement includes all required information without errors and is professional in appearance. Formatting contributes to ease of reading and understanding. |
Statement meets most of the required information without errors. Appearance is basic and does not contribute ease of reading and understanding. |
Statement is minimal and/or lacks proper organization, or contains errors, or formatting contributes to confusion. |
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Comments are relevant, insightful, objective, clearly stated. |
Relevant comments about client net worth are included. |
Comments about net worth aren’t client specific or very helpful. |
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Statement meets all required information without errors and is professional in appearance. Formatting contributes to ease of reading understanding. |
Statement meets most of the stated requirements for information without errors. Appearance is basic and does not contribute to ease of reading and understanding. |
Statement is minimal and/or lacks proper organization, or contains errors, or formatting contributes to confusion. |
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Comments are relevant, insightful, objective, clearly stated. |
Relevant comments about client cash flow included. |
Comments about cash flow aren’t client specific or very helpful. |
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Includes all required current and revised columns, fully completed. Both goals are clearly indicated in cash flow. Easy to find changes and compare to previous amounts. Professional in appearance. |
Statement meets most of the stated requirements for information without errors. Appearance is basic and does not contribute to ease of reading and understanding. |
Statement is minimal and/or lacks proper organization, or contains errors, or formatting contributes to confusion. Revised amounts are not well-connected to written text, or there are errors, or it is very confusing to find information. |
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Goal description is very clear with respect to what is to be achieved, and when, cost in dollars, calculation of monthly amount required, and general comment about whether the goal is realistically achievable |
Goal description is nearly complete but leaves a minor question undefined. |
Goal is partially defined but leaves numerous questions about exactly what the goal is, how much it costs, why client wants to achieve it, time horizon, how it could be achieved, or whether it appears realistic |
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Goal description is very clear with respect to what is to be achieved and when, cost in dollars, calculation of monthly amount required, and general comment about whether the goal is realistically achievable |
Goal description is nearly complete but leaves one aspect undefined. |
Goal is partially defined but leaves numerous questions about exactly what the goal is, how much it costs, why client wants to achieve it, time horizon, how it could be achieved, or whether it appears realistic |
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Goals are fully described from perspective of client personal motivation that explains the desire for this specific goal, the amount, and the timing. |
Client personal motive is stated but can be explained more clearly. |
Attempts made to explain client personal motive but it is unclear |
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Calculations included in appendix and are mathematically correct. |
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Calculations are not included, or are incorrect. |
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Required monthly cash commitment to achieve goal is clearly stated. Areas of cash flow that could potentially be adjusted to provide necessary funds areidentified. Clear and precise suggestions about how to change spending behavior are included. |
Report satisfies most criteria but can be improved in areas for clarity and tone. |
Suggestions seem insensitive to client priorities or not logically considered. Suggestions are difficult to read and understand. |
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Report follows a logical format, and is easy to read and understand. It provides a summary of the process of financial planning including assessment of current situation, identification of goals, and recommendations to achieve the goals. Tone is friendly and professional and clearly is aimed at showing the client how they can achieve their goals without reference to any product sales. |
Report satisfies most criteria but can be improved in areas for professionalism, logical flow, or clarity. |
Report is inconsistent in professionalism, logical flow or clarity |
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Overall Score |
Level 4 36 or more |
Level 3 33 or more |
Level 2 21 or more |
Level 1 0 or more |
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