Financial planning software

SCHOOL OF ACCOUNTING & FINANCIAL SERVICES

CFP201NMM – Financial Planning Software

Assignment #2 Version: LEARN@Seneca

PROFESSOR(S): Mary Savona

TOTAL MARKS AVAILABLE: 60

PERCENTAGE OF FINAL GRADE: 20%

ASSESSMENT MODALITY: ☒ ONLINE ASYNCHRONOUS ☐ ONLINE SYNCHRONOUS ☐ IN-PERSON

FOR ONLINE ASSESSMENTS

TIME ALLOWED: N/A DUE DATE: October 22, 2023

TIME DUE: End of the Day

FOR IN-PERSON ASSESSMENTS

SCHEDULED DATE: Click to Select

TIME ALLOWED: Click to Select

Allowable Examination Aids: (click applicable boxes)

☐ Calculators (non-programmable only) ☐ Notes

☐ Dictionary (for translation only) ☐ Textbook(s)

☐ Formula Sheets (attached)

☐ Other: Click to insert

Answers to be completed on (click applicable box):

☐ Exam Booklet ☐ Exam Paper

☐ Grademaster Card ☐ LEARN@Seneca

☐ Other: Click to insert

INSTRUCTIONS

☐

This assessment should be completed independently without the use of any resources or providing/receiving any assistance to/from another individual under any circumstances.

☐

This assessment should be completed independently without any assistance to/from another individual under any circumstance but with the use of the allowable examination aids listed to the right of this box.

☒

This assessment should be completed with a group and only requires one version of the work to be submitted.

☐

This assessment should be completed with a group and requires each student to submit a version of the work.

Academic Integrity Reminder:

· By attempting this assessment, you confirm that you are aware of Seneca College’s Academic Integrity Policy, what academic integrity is, and the actions, which are considered breaches of the policy.

· By submitting this assessment, you confirm that you did not provide/receive any unauthorized assistance to/from another individual under any circumstance.

· Students who have been found guilty of violating Seneca College’s Academic Integrity Policy have advised Seneca College that they wished they had remained vigilant about their actions and refrained from engaging in behaviours that jeopardized their success.

· Potential penalties for violating Seneca College’s Academic Integrity Policy may include:

· Increased financial costs and delayed graduation from having to retake the course.

· Trouble securing or maintaining a job because they have failed to learn skills that employers expect.

APPROVED BY:

DATE:

Sara Potkonjak, Chair

School of Accounting & Financial Services

STUDENT NAME:

STUDENT ID:

(Use for paper-based assessments only)

Description

In this assignment, you will build on your Part #1 report for the Simonas by creating a Recommended Plan (Part #2). Note that each student group will be provided with a unique version of the case, i.e., financial figures and dates will vary for each group. Hence, your recommendations will be unique.

Instructions

1. Open Learn@Seneca (Blackboard) and enter the Assignment section.

2. Open Case Study – Simona Case. This is your unique case study.

3. Open Case Study – Simona Asset Allocation Questionnaire.  This is your unique asset allocation for the client.

4. Formulate your recommendations in the Alternative Plan (create by copying the Recommended Plan); click “Recommended Plan” and generate the reports for Part #2 submission as described below and submit as 1 file in Blackboard.

Submission – Proposed Plan

Due October 22 @ 11:59pm

Late Penalty: 10% per day; not accepted 3 days past the deadline.

Copy the Recommended Plan to an Alternative Plan

In the Alternative Plan, select the strategies that will enable the clients to achieve their desired goals to the degree possible.

Acceptable solutions: If the client’s targeted retirement age cannot be achieved, recommend necessary trade-offs (e.g. delaying retirement, saving additional amounts, reducing expenses, or some combination). You must recommend the optimal solution , i.e., the one that minimizes trade-offs.

Unacceptable solutions: deficits or surpluses in the cash flow statement

Total Marks: 60

Level of Achievement

Value (Marks)

Did Not Achieve (0)

Novice (50%)

Competent (75%)

Proficient (100%)

Cover Page:

Client Names Spelled Correctly

1

Advisor Name and Contact Details

1

Table of Contents

1

Recommendations:

Asset Allocation

weightings, investor profile explained in sentence form

5

Networth

accounts to be opened and rationale in sentence form

5

Cashflow

identify how surpluses will be invested and/or how deficits will be eliminated (general only; additional details provided under each goal)

5

Retirement goal

retirement date, required income, savings strategies, including amounts, accounts and rationale in sentence form

5

University education

objectives, required savings, savings strategies, including amounts, accounts and rationale in sentence form

5

Pre-University trip

objectives, required savings strategies, including amounts, accounts and rationale ins sentence form

5

Estate

identify gaps, recommended solutions and rationale in sentence form

5

Tone

motivates client to implement recommendations

2

Cashflow Surplus/Deficit - Proposed

No surplus or deficits

5

Retirement Goal Coverage

All goals are fully funded within recommended timelines, given client resources. Figures are consistent with those in recommendations write-up

5

Education Goal Coverage

5

Pre-University Trip Coverage

5

Feedback:

CFP201NMM_Assignment_2237

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Version: LEARN@Seneca