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1、Financial Services:Group Award Graded Unit 1Group Award Graded unit 1Contents 1. Planning-Action Plan - 21.1. Introduction1.2. Likely resources to be used1.3. Strategy for carrying out report1.4. How the project will bw managed1.5. Timescales for project1.6. Sources of information2. Developing-Case
2、Study Body - 52.1 Key factors in case study2.2 Likely financial needs of the clients2.2.1 Savings2.2.2 Mortgage needs2.2.3 Protection needs2.3 Suggestions for improvements2.4 Likely providers2.5 Relevant products and services2.6 Benefit-needs analysis2.7 Effect on tax position2.8 Justification for s
3、elections3. Evaluation - 13 3.1 Criteria for Evaluation3.2 Changes made during project compared to original action plan3.3 Effectiveness of process4. Bibliography - 16 Planning-Action Plan1.1. IntroductionWorking at the Cadogan Bank plc, I were introduced to Alexander Flynn and his wife Janet by the
4、 manager of banks Western Branch as an Investment Service Manager. My task this time is to give solutions for my clients to manage their financial affairs, provide them effective products to ensure the best returns on saving and the best protection for their family and income.1.2. Likely resources t
5、o be usedI would like talking to my clients first to collect their demand and consideration with the financial management to satisfied their initial needs. Despite the essential information offered, I will have an active listening to understand the future planning about the family. I want to know ho
6、w willing they considered to invest, and the management for their childrens future including educations and marriages, and various preference will be considered to complete the ways to choose products. The relevant products will be picked up to have a further planning for the next stage. And to cont
7、inue some further planning, I will have a contact with the clients in terms of time in order to make sure some details with the types of products. 1.3. Strategy for carrying out report According to the background of this couple, its clear that both of them should have a systematic and complete manag
8、ement for their fabulous income, and with the condition that they have three children to bring up, they should take care of the potentially drained cost includes various school fees, and then they should consider different saving accounts with tax free and best profit. Meanwhile, some products of in
9、vestment like income bonds, FRSBs and childrens bonus bonds may have a good work in the future planning, as well as the protection products for children such as term life assurance that provides repayment on early death and life assurance will be essential when they get 16 years old.1.4. How the pro
10、ject will be managedThere would be a detailed analysis to give a suitable management for their financial affairs. The large amount of incomes mainly due to their own business company, and they also got three children to foster, so they should prepare a future fund for the childrens education and ple
11、nty of living expenses, and normally, they should take action to prevent a series accident or some other risk in their daily life, not only the children but also the parents and maybe their high cost house. And in fact, the company were considered to change their mortgage to prevent the shortfall wh
12、en comparing with the other mortgages, thus, they will favor the lending products, and maybe the interest only mortgages will work much. And its necessary to persuade the client try to investment for some products which paying back in the long-term future.1.5. Timescales for projectTimePlan 4.15-4.1
13、7Read the case, and try to make some discoveries with the background, especially for the managers personal life, and collect the initial information to preparing the next step. 4.18-4.22Back to the book to find out the suitable types for the case situation, and classifying the basic sources into dif
14、ferent categories with its different uses. 4.23-4.30Start the report for the first needs of the clients with some initial resources from the schoolbook, and preparing the next step with current products by various websites of providers. 5.01-5.07Complete the report with the providers, and compare th
15、e products to analysis their advantages and disadvantages. Make sure that they are offered the best benefit.5.08-5.10Review the report with the information offered to make sure that I make a good financial plan for the subject. 1.6. Sources of informationExcept the information from the case, theres many additional sources to offer the information, one important way is the textbook with a large number of professiona
