Submitted to : Roger Issar.

YOUNG COUPLE PLANNING A FAMILY

FINANCIAL PLAN FOR ENRICK AND

NATALIE FERNANDEZ.

CERTIFIED FINANCIAL PLANNER : MARK BENNETT

HARDIK SHAH 300813895

Table of contents

1 ) Disclaimer

2) Engagement Letter

Agreement of client service.

3) Part 1

Financial Plan Overview Introduction

4) Part2

Financial Goals and Objectives

5) Part3

Personal information

Living Expenses Asset and Liabilities statement Analysis of Net worth Cash flow Statement Assumptions.

6)Part4

Financial Management Problems and Opportunities for couple

Analyzing the information Asset Allocation Financial Analysis for Enrick Financial Analysis for Jenifer Life Insurance Needs Disability Insurance.

7) Part5

Identifying Appropriate Strategies and presentation of plan

Financial plan Asset Management Risk Management Retirement Planning Tax planning Estate Planning

8) Part6

Implementation of the plan

current situation issue and opportunities options to consider Recommendations

9) Part7

Update information .

DISCLAIMER

The financial plan and the analysis would be purely based on the assumption

provided by the clients and their personal information . There can be necessary

changes be made in the report and assumptions made on the plan as an when

required. The information which is provided might change and be updated as per

the changes in tax and any legislation.

Here it is noted that all the information provided is to be purely used to prepare

your personalized financial planning. If any specific personalised question

regarding tax and accounting concern person for further assistance.

It is very important, that to reach your financial goal you should review your

Financial plan regularly .

LETTER OF ENGAGEMENT

Mr. & Mrs. Fernandez

124 All Street

Ottawa, Ontario K0K 0K0

Dear Mr. & Mrs. Fernandez,

I am pleased for this opportunity to meet and discuss all your financial goals . This

engagement letter is prepared for the legal formalities and the layout of all terms

and conditions in monetary arrangement between Mr. and Mrs. Fernandez and me

CFP, as an representative and advisor to help you in preparing and provide you the

best Financial Services.

If any changes are to be made during our projection of financial planning necessary

changes will be implemented as and when required with the mutual consent of both

of us.

It will be necessary during the planning that you need to update and help us with

various financial information and be assured that whatever information is shared

will be confidential and secure.

In making of financial plan, there might be need to take an opinion of various

experts in different stage of planning we will request your consent before revealing

your personal data , to various experts.

As mentioned earlier , we will set up a proper plan to help and reach your basic

goals and objectives. The expenses for this procedure is $8,000 in addition to any

changes, with $2,000 to be paid upon acknowledgment and remaining funds to be

paid upon presentation of other budgetary arrangement.

As discussed, this engagement letter will consist of all services required to develop

and execute comprehensive financial plan. It will help in reaching all your

financial objectives and goals, to plan financial strategy, planning various

retirement, risk ,estate and tax planning, analyzing your current investment

information and to meet your future objectives.

The key step will be Managing and implementing the financial plan and there will

be necessity to revise the financial plan.

In order to get an accurate and sound planning it would be your responsibility to

help us with all required information which is sensible and true , to get a perfect

and a well organized financial plan on all your financial situations.

We anticipate to work with you and help you to achieve your objectives.

Sincerely.

Mr. Hardik Shah, CFP

Royal Financial Service.

We have read, understood and accept the terms outlined in this engagement letter.

Mr. Enrick Fernandez

Mrs. Jenifer Fernandez

PART- 1

Introduction and Financial Overview

In our 15yrs of service we tried our best to give the best possible service to our

clients and tried to get you the best Financial Plan so you reach your desired goals

and objectives.

Mr. and Mrs. Fernandez , who turn at age 28 in this year and they are planning to

start a family in next two years and as they want to plan their future with proper

planning . However, you are soon planning to start a family and planning for two

kids at the age of 31 and other at the age of 34years, and Enrick is planning to

purchase his Father's business in 2years .

This plan will consider all your current financial position , and will assist you to

fulfill your financial goals and objectives. The analysis of the plan will be based on

all your requirements and goals you want to reach at after retirement and after

planning kids.

In order to reach all the goals you have to provide with proper financial

information to assure certain success. This information provided by you shall be

updated as and when changes are done or any update in your financial position or

any investments, profitability statements and Net worth.

We promise to give you the most important and essential tips and all required

suggestion during the planning.

This financial plan will be planned considering following points and will make

sure to help you with a successful financial plan. The essential steps are :

Terms of Contract and service.

Discuss and obtain financial data and objectives

Evaluation on the basis of provided information.

Written Plan for your reference.

Implement all the strategies specified in plan.

Revise the plan as and when necessary.

1. Terms of Contract and service:

The first part itself deals with "LETTER OF ENGAGEMENT", which was

explained on or first meeting.

2. Discuss and obtain financial data and objectives:

This step will help you to understand and make it clear that in which

direction you are heading and what all steps and changes you have to bring

to reach and accomplish your future.

Various objectives related to risk, retirement, and Education for your

children .

3. Evaluation on the basis of provided information.

This is the crucial step in planning your financial objective , it helps in

planning Insurance, Retirement , Net worth and Cash Flow Analysis and

will help you to pay off your debt on time.

4. Written Plan for your reference.

We will provide you a written statement for your reference which will help

you to understand you financial plan.

5. Implement all the strategies specified in plan.

We as your advisor would recommend you to take proper action as

discussed in plan for better future.

6. Revise the plan as and when necessary.

This is the most important step in planning , as the plan shall be updated or

required to change if there is any situation or any investments , sudden

expenses, and will be reviewing the plan yearly for smooth process and

would request to update us with any changes.

PART-2

Financial Goals and Objectives:

The following will be your primary goals and objectives as our first step in

our financial planning process:

Primary Investment goals and objectives:

Mr. and Mrs. Fernandez , who turn at age 28 in this year and they are

planning to start a family in next two years and as they want to plan their

future with proper planning . However, you are soon planning to start a

family and planning for two kids at the age of 31 and other at the age of

34years, and Enrick wants to purchase business of his father in 2years .

Jenifer wants to help her mother who is retired to cover scooter cost as it is

the secondary objective and they want to get their basement renovated before they

start their family. They estimated home repairing cost worth $5000-$8000.

Their secondary goal is to save enough before they plan a family. They want to

pay off their mortgage as or before they reach at the age of 40

Natalie has some personal plan on cars she plans to spend $15,000 for used car and

she plans to buy car every 6years .

Enrick plan to buy his father business in 2year as his father retires, and mutually

agreed to pay $10000 every year for next 10 years as the projected cost of business

is $100,000.

They also have their own personal objective they want to pay of their mortgage as

soon as possible and save enough of money towards their retirement, they want to

save half of their earnings and wanted to spend on leisure as they wanted to retire

at the age of 55, and had an estimated retirement expenses $60,000/year

Jenifer been a nurse at hospital and with earning of $65,000/year and working

from past 5years and has group life and disability coverage through work.

They assumed their life expectancy for 90 years with an intention that they save

enough towards their future.

They also assumed children expenses to be $1,200 per month which will drop

down to $800 once part-time kindergarten starts.

PART-3

Collection of Data

All the information provided by you in the form of Exhibit1,2,4 & 5 and all the financial data available , I will combine various data to assess your financial situation.

Financial Statements:

On the basis of all the collected data from you , I have combined them into various financial Statement and this will help you to analyze your financial position.

1) Living Expenses:

Exhibit - 1

Estimated Living Expenses of Enrick and Jenifer

Type of Expense Annually

Amount

Jenife

r &

Enrick

Utilities (electricity, gas, water, telephone)

and taxes

$9000

House and Property Maintenance 2160

Clothing expenses 6000

Entertainment & Leisure Expense 1000

Disability Insurance Premiums 2456

Mortgage (principal and interest) 9780

Food and Supplies 5220

Home insurance 936

Basement Renovation 6000

Total Expenses $41,616

9000

2160

1000

5220

Living expenses of Enrick and JeniferYearly expenses.

utilities

House maintenance

entertainment

Food and Supplies

Exhibit - 2

Assets and Liabilities for Enrick and Jenifer

Asset Amount Estimated Annual Returns

Int.

Received

Dividend Capital

Gains

Growt

h

Total

Return

Enrick Bank (Cash) $10000 0.01 - - - 0.01

Mutual Fund $1250 - 2.5 - 2.5 5

Home $385250 - - - 3.5 3.5

RRSP - - - - - -

TFSA 1485 1.75 - - 1.75 3.5

Equity portfolio 41586 - 6 - 2 8

Mortgage 125250 5.00 - - - 5

Jenife

r

Bank (cash) 10000 0.01 - - - 0.01

Mutual Fund 1750 - 2.5 - 2.5 5

Home - - - - - -

RRSP 13584 2 - - - 2

TFSA - - - - - -

- Equity portfolio 31500 - 6 - 2 8

Mortgage - - - - - -

HOUSE BANK MUTUAL FUND TFSA Equity portfolio0

50000

100000

150000

200000

250000

300000

350000

400000

450000

Enrick

Axis Title

house bank mutual fund RRSP Equity portfolio0

5000

10000

15000

20000

25000

30000

35000

Jenifer

Axis Title

STATEMENT OF CASH FLOW

Cash Flow Statement and its Importance

Cash flow statement helps you to know where your money is going and where you can save for better and strong financial stability, whether is to pay off your mortgage, to buy father's business, buying a car, children's education or planning towards your retirement.

Inflow of cashIncome from employment

Basic pay Jenifer

$65000

Enrick

$42000

TOTAL Income from Employment

$107000

Outflow of cash

Living expensesHouse -Mortgage on house $978

0Taxes (property) 3540Insurance (home) 980Power 2250Gas 3800Phone 3600Cellular Phone 1500Television 520Data (internet) 360Renovation of basement 7000Total Housing expense 33330

FOODGroceries $420

0Lunch 220Alcohol 95Restaurant 250TOTAL FOOD $476

5

TRANSPORTATION $ 400

Insurance $2080

Registration 130Gas 2300Parking 200Repairs 940TOTAL TRANSPORTATION $565

0

LESIURESports Club $35

0Lottery 170Vacation 2500Gifts 800Newspapers 150Computer 180 TOTAL of LEISURE $415

0

INSURANCE and health Insurance (mortgage) $85

0Prescription drug 220

Dental 200TOTAL INSURANCE and Health $127

0

MISCELLANEOUSClothing $100

0Furniture 1280Professional fees 508Hair care 1080Loan (student) 7400Other 200TOTAL MISCELLANEOUS $1273

8

TOTAL LIFESTYLE EXPENSES $61903

PENSION CONTRIBUTIONSRPP $455

0RRSP 7340CPP 3764TOTAL $1556

4

Employment Insurance PREMIUM

$1504

INCOME TAX $15812

TOTAL CASH OUTFLAWS $94783

CURRENT SURPLUS

$12217

53%

31%

8%1% 8%

Cash Flow Statement

Cash InflowLifestyle ExpensesPension ContributionEi PremiumIncome Tax

As per the cash inflow and outflow statement you have to consider the following

points on priority :

You should first pay off your mortgage.

Cut down cost on Leisure which will help you to save more.

Contribution towards pension should be more.

Expenses related to car should also be cut down.

There should also be some contribution towards children education.

Net worth statement and its advantages:

Net worth is the statement which shows the difference between all Assets

and Liabilities i.e. the difference between what you own and what you owe.

Net worth is the important statement which helps to predict the financial

stability, which will help you to reach your goals and objectives.

Money Management.

This step can help you to manage all your expenses and can help you to plan

pay off your liabilities and can show your cash liquidity.

Savings

Savings is the most important aim of our plan as an how you reduce your

liability it will help you to increase your net worth and this will encourage

you to save more.

Financial Planning

As net worth being the most important part in any financial planning,

because it usually helps to decide on following points :-

It helps you to decide Where you can invest ? and How much you are

capable of investing.

What % of interest you can earn on your investment.

How much you can set aside every month/year to fulfill all you

primary/ secondary goals.

How fast you can pay off your mortgage

How much Enrick should set aside that he can buy his father's

business.

How much you have to spend on children's education.

What you can do after retirement if you save sufficient after fulfilling

all your basic duties for your parents, childrens.

Estate Planning

As far Estate planning is consider Enrick wants to buy his father's business and for

what he is going to pay $10000 every year for next 10 years as the projected cast of

the business is $100,000.

Insurance Planning

Planning proper insurance helps to protect assets.

ASSUPMPTIONS

The following assumptions made are base on the information you provided

The life expectancy is 90years.

Additional Annual expense $45000

Cash Permit $6000-$8000

Indexation Rate 3.25% annually

2.25% of increase in assets.

Payment of Mortgage.

Returns on equity is 8%

lifestyle expenses can be considered and important and quality objects can

be considered.

Managing assets:

Considering all current assets and noncurrent asset following returns/increase in

asset is to be considered :

Home

% Increasing 3.25%

Year 1 385,250

Year 2 397,770

Year 3 410,698

Equity Portfolio (ENRICK)

% Increasing 6%

Year 1 41586

Year 2 44082

Year 3 46726

Equity portfolio(Jenifer)

% Increasing 6%

Year 1 31500

Year 2 33390

Year 3 35393

TFSA(ENRICK)

% Increasing 1.75%

Year 1 1485

Year 2 1511

Year 3 1537

TAX PLANNING

As much of your income is spend on paying tax, you have to manage and save on

taxes . As you both have to pay tax and your income after tax is $112325.

Enrick have to pay off his mortgage and save tax and Jenifer has to pay interest for

next 5years.

and as you both have credit limit of $18000 on your credit card.

PART-4

Identifying Problems and Opportunities :

From all the above statement it helps to find current problems that we have to

overcome and find various ways to turn obstacles to opportunities.

All your goals and objectives are given as follows:

Analysis of Various Topics

S.No Goal Topic Assumptions

Analysis Suggestions

1 Own a Home

Fixed Mortgage Rate Vs Variable Rate

The mortgage term is 10 years

5 point analysis: 1)Variable Mortgage rates are historically cheaper compared to Fixed rates

Go for a variable mortgage rate, as it is better in the long run. However variable rates are riskier, so to be absolutely sure, you may opt for half variable and half fixed rates.

2) Variable rates are near historical lows.3) Variable rate penalties are typically lower4) Variable rates can be locked in (made fixed) any time.

5) Savings can be started right away.

S.No Goal Topic Assumption Analysis Suggestions

2 Personal Home after retirement

House or apartment

At the age of retirement moving to some rural area would be wise decision

In rural area price of house will be cheaper

After paying the mortgage and near the age of retirement you can move and enjoy your personal life.

An House in rural area will be equal to an apartment in town In small town a good house or apartment can be purchased for $250,000

S.No Goal Topic Assumption Analysis Suggestions

3 Statement on Cash Flow

Paying mortgage v/s RRSP

Payment of Mortgage and RRSP is the key factor

RRSP contribution will help in deducting income tax.

1) Payment of mortgage 2) RRSP contribution in case of lack of stable pension

Paying mortgage will not lead to any deduction in Income Tax But will cut down interest The mortgage payment does not result in an income tax deduction, but it does reduce the amount of interest expense that would have to be paid on the mortgage in the future

S.No

Goal Topic Assumptions

Analysis Suggestions

4 Security of Children and your parents.

Mortgage and term Insurance

Purchase of property was by mortgage.

While considering mortgage from financial institution mortgage and term insurance should also be considered, because in case of death mortgage can be paid off if you are covered with proper insurance

As far your mortgage insurance is considered it's not beneficial so you should consider term insurance in which you get coverage of accident ,death and disability benefit

In the insurance policy the financial institution is the beneficiary so in case of death none of the family members are entitled for insurance claim

and can't use it for any personal purpose. Coverage on debt should decrease as and when the debt decreases, the amount of premium paid also decreases.

5 Maternity Leave

Jenifer is to be paid under maternity benefit

If She plans her first child at the age of 31 and 2nd at the age of 34.

Maternity leave will fetch extra income.

Maternity benefit would be an good an extra source of income.

Get paid 80% of base pay when on maternity leave

For eligibility you should consider the terms and conditions of your employer .Should be residence in Canada and legally working

S.No Goal Topic Assumptions

Analysis Suggestions

6 Purchasing fathers business

To pay for father's business

If you want to buy it soon rather paying in 10years span

Enrick you can Pay 15000per year which will help you to own the business soon and would not be under debt for long span

Since you already owned a home and paying mortgages you can take the business soon and till than you would be settling with proper family,.

However you need to pay off mortgage.

7 Income from pension and credit

Annuity and RRIF income

At the age of70have to convert RRSP to RRIF

RRIF is a trust registered with CRA, which promises to pay income at the age of retirement.

Enrick as you are employed under your father's business you are not entitled for pension. in order for you being eligible for credits under pension.

RRIF is governed by the Income Tax Act, it is On the basis of RRSP which is on the basis of tax deferred.Federal Pension credit on $2000 is 15% of the total pension

8 Minimizing Tax

Split income

If either of the one is under high tax slab

Splitting of income is one of strategy.

It is recommended for Enrick to pay in Jenifers room of tax as she won't be earning after retirement.

Aim in splitting income is to build 2 streams of retirement which will help to save tax.The service level of the insurance company with whom you have various products also tends to be high.

9 Funds needed in

TFSA account

If there is no emergency

TFSA helps a Canadian resident who has reached

You are suggested to

case of emergency

fund set up. 18year of age and has a valid SIN number has benefit of set in certain amount of money under tax free saving account

create TFSA account and the balance should be six month net income which can be used in case of emergency/

Life Insurance Planning

Insurance (Term):

Term insurance is an insurance for temporary needs or an temporary protection. It

is flexible so insurance can be changed as per your needs. It covers various

accidental , death and mortgage benefit and even has joint life insurance.

Insurance(Permanent):

Permanent insurance are guaranteed insurance and the term s fixed at while

purchasing the policy. Some plans has benefit of paying up to certain number of

years.

Insurance( Universal Life):

This kind of insurance correlates two aspect of financial planning which are

important.

1. For lifelong peace Permanent insurance protection 

2. To increase savings and tax deferred Investment account options .

Insurance(Term)

Insurance(Permanent)

Universal Life Insurance

OverviewIt gives temporary protection when financial risk is high.Example while paying mortgage

It gives long term benefit as compared to term insurance as there is no need of buying and renewing as in term insurance and the benefit is lifelong and stable.

It combines long term life insurance with an additional benefit for savings and tax defferd.

Duration Its for short period It's for long term protection

Its protection for life

Insurance amount

Its fixed won't change Its fixed won't

changeIt depends on insurance , keeps on increasing.

CostInitially its low cost but my increase each 10,20 years and can increase drastically.

It's always fixed cannot change for life of the policy but few policy are adjustable.

Premium is higher at less age and gradually

Insurance cost may be :-

Leveled and guaranteed,

it will increase

decreases when older.

every yearor

may be a combination of both.

Value in cash Not Applicable Cash is accumulated and gets paid at the time of cancellation.

Excess payment above insurance cost can be used for tax deferred or tax investment

Enrick and Jenifer has counted and estimated life of 90years which is higher than

the life expectancy of people living.

The death ratio is increasing as the Canadian population is aging .The life

insurance amount for individual or family is to be determined upon :

Requirement of after tax income of individual member.

Other income including CPP.

marginal or average return on tax.

Requirement of income over period of time.

Assumed rate of inflation

Return on investment before tax

Enrick and Jenifer are fortunate enough that your net worth is in surplus

Enrick and Jenifer Life insurance

Insurance Life Insured

Beneficiary

Benefit on death

Cash SurrenderValue

(Permanent) Life Insurance Enrick Jenifer 14000 28935(Permanent) Life Insurance Enrick Jenifer 24000 6000(Permanent) Life Insurance Jenifer Enrick 60000 15788

51%

18%

32%

Life Insurance need for chris

Gross insuranceless current available insuranceTotal insurance needed to fulfill all needs

50%

5%

45%

Life insurance needs for NataliaGross insurance less current available insuranceTotal insurance needed to fulfill all needs

Analysis for disability needs:

Disability insurance is a disability caused by accident or partial or total illness which can be partial or total disability either be temporary or permanent disability.

Insurance for disability for Enrick and JeniferInsurance Insure

dBenefit Period of

EliminationTo be paid till the age of

Disability Insurance for individual

Enrick $1945 Ninety days Sixty Four

To become eligible under disability insurance one shall contribute to CPP for at

least 4 out of 6 years

Two points are to be considered while considering disability benefits

a flat-rate portion

yearly maximum earning portion

At the age of 65 the contributor may receive and which is seventy five percent of

the pension which will be received

Both of them are in need of Disability insurance but as Jenifer is covered under

disability insurance from her work place with a joint interest for Enrick too.

Analysis for disability needsTopic Enrick JeniferAnnual Income from Employment $65000 $42000Monthly Income from Employment $5417 $3500Current Monthly Investment Income 0 0Monthly Disability Benefit 0 1850Shortfall in Disability Insurance $5417 $2400

Part5

Planning execution and identifying strategy:

Financial Plan

Enrick and Natlia in this particular PartI would help you and try to make your

financial situation clear post analysis and make you understand Financial plan.

This planning will help you and give you a clear picture on how you can achieve

all your primary, secondary, long term and short term goals.

As far your financial situation is to be considered it's a great achievement as you

have a well stable cash flow and have a good net worth of $892563.87 with a small

debt which can be paisd soon and after paying off your mortgage soon your

situation will improve very much

As far as your routine, day-to-day expenses you have tried and controlled a lot and

are able to save good amount of money and as doing this its not at all impossible

that you cannot reach your long term goals.

This Part in the analysis will help you with detail explaination on the following 6

components

Risk Management.

Finance management

Retirement planning

Estate Planning

Tax planning

Asset management

Risk Management

Risk management is one kind of management which has more risk but the benefit

is also more

it helps you to look at your position how well you can take financial risk. many

points are to be considered as you have no debt you purchase an house outright,

you have to free yourself from mortgage by which most of the Canadian

population is burdened with as most of their life goes paying back mortgage but

with a benefit that in a long term you can own your personal house.

As far disability is concerned yes you both need disability insurance and as Jenifer

has from his work Enrick should get a proper disability benefit for himself as the

work he is into is risky .

Later you should set up something as an emergency fund which can be used in

sudden crisis.

Sudden death of any of the two will have a great impact on the financial condition

of the person who is to survive.

Further paying off debts , children's education, support to Jenifer's mother in

paying off for her scooter and all living expenses should be considered and a

proper insurance cover should be taken so none of their lifestyle ids affected

Maternity leave for Jenifer is to be considered as you are planning a baby soon and

successfully start your family .

Retirement Planning:

This Partgives you brief idea and required details for retirement planning.

This plan is calculation of earning versus expenses.

It will completely on the basis of how much you want to spend yearly after

retirement it will be almost seventy five percent, the comparison is made to how

much is your asset and you can earn from your investment.

If your expenses are less you can save more over the time and you can even

increase your standard of living if you spend wisely, But if you spend more than

you returns soon you will be into a pothole, Financial trouble which I as your

planner won't like you to get into such trouble.

Important features of retirement planning are :-

effect of retiring on or before the age of retirement.

Various expenses to be considered keeping in mind tax and rate of inflation.

How much to save in order to have a smooth retirement

Actual return on investment required to reach financial aims, this helps you

to identify the amount of risk you can consider while spending.

Leisure expenses like vacations, frequent change of car , maternity expenses

if not planned well may affect your plan.

Estate Planning:

Enrick and Jenifer as you don't have any will or any power of attorney which is a

matter that should be taken into consideration.

Part6

Implementation of the Plan:

Enrick and Jenifer as we have done complete analysis on all the prospect and

considering all your requirements for a successful and bright future and retirement,

for all the success you have to follow the plan as and mentioned each and every

step mentioned, is important for your future, it gives you the detail of the funds you

require and how much you can pay off and how much you can spend on various

things like vacations, leisure etc.

It will help you to plan your Tax, Insurance, Retirement , Risk and various

benefits

As your planner I will keep in mind all your goals and even will help you to make

RRSP contribution

Chart on Implementation

To be done Who has to do When to be done Explanation of the activity

Pay Mortgage Enrick Instant Pay off mortgage on the house

Life Insurance Enrick Instant Purchase Insurance for Enrick

Disability Insurance Enrick Instant Purchase as Enrick work is risky

Purchasing Fathers business

Enrick Over a period of years

Payment to be made in 10years installment of $10000 per year

Will Enrick and Jenifer Instant Make a proper will .

Power of Attorney

Enrick and Jenifer Instant

Power of attorney should be made to decide on various health and safety issues of an individual.

1) Life Insurance(TERM) Quotation for Enrick from Moon Insurance Co:

Quotation

Benefits Information AnnualPremium

Term Insurance $450000 Enrick (Male) 28years $1800Monthly premium $150

2) Life Insurance(TERM) Quotation for Jenifer from Moon Insurance Co:

Quotation

Benefit Information Annual Premium

Term Insurance $500000 Jenifer (Female) 28years $600Monthly premium $50

3) Power of Attorney and Will:

Estate lawyer Walton Law firm

Drafting power of attorney. Updating will. Legal advice.

Email Address: info.Walton@yahoo.ca

Part7

Update on Information

It is the important factor while considering various planning like retirement,

estate, asset management that all the information should be updated on timely basis

because all the factors are to be considered for Financial planning because this will

give accurate scenario of the plan .

As financial plan is never stable because every time the market changes, taxation

changes, there can be possibility to change the financial plan as and when required

and in extreme case the whole plan should be re-considered .

As per the policy of Royal Consultancy we will review financial plan yearly with

both of you . The Financial plan be reviewed and necessary changes will be

considered.

In case of any changes , please update me by email or calling.

Email Address :- Hardik_planner@royalconsultation.com

Phone # :- 347-789-963

I will provide periodic review and evaluate and update and help to reach to your

various goals and objectives.

Thanks again for the opportunity to be of service! We wish you success in your

endeavors.

We would really appreciate if you can refer us to your friends ,co-workers and

family by sharing your experience and high quality service and all our

conversation will be confidential.

Thank You.