As a Wealth Manager, prepare a Financial Plan based on the case background of George and Cindy Lee. Your proposal should include :

1. Feasibility of the Financial Goals
2. Investment Preferences
3. Investment Strategies
4. Other Key Factors (as appropriate)
5. Your Recommendations and Action Plan

Note : As the case may not likely contain all possible information, you are required to make no more than 5 necessary and reasonable assumptions as appropriate for the case. Your report should list and explain these assumptions at the beginning of the report.

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TASK As a Wealth Manager, prepare a Financial Plan based on the case background of George and Cindy Lee. Your proposal should include: a. Feasibility of the Financial Goals b. Investment Preferences c Investment Strategies d. Other Key Factors (as appropriate) c. Your Recommendations and Action Plan Page 1 of 8 Note: As the case may not likely contain al possible information, you are required to make no more than 5 necessary and reasonable assumptions as appropriate for the case Your report should list and explain these assumptions at the beginning of the report. Case Background: George and Cndy are 36 & 35 year old respectively) and have a son aged 5. George has been working as Senior Manager in a major property development company since his graduation, holding a BBA in Finance. He has been working hard with much stress from work and he wants to find time for social life and hobbies. After graduating from the university, Cindy started working as a dil servant but after they had their son 5 years ago, she quitted her government job and took a part time tutor job, which allowed her to spend more time at home raising their son. They live in a small apartment (still under mortgage in North Point which they bought 5 years ago On the financial side, they do not seem to have serious concerns since George expects his job should be very stable with decent Income. They did not seriously consider financial planning so far. However, Andy is concerned about over spending by her husband. George, on the other hand, holds a very different view. He believes that he should have the right to spend his money as long as he provides adequate financial support to the family Despite their different views, they can compromise on two Issues: They want to save enough money to help pay for the son's education until he finishes the undergraduate degree in a local university or overseas university They come to bring in greater discipline in their financial life to provide for their retirement. They made a rough guess based on market survey to save at least HK$6 million for retirement Insurance Coverage Life Insurance George Cindy $1,300,000 $1,200,000 George and Cindy's Financial Needs Completely fund the university education for their son. Buy a new car for HK$450,000 in about 3 years. Page 2 of George to retire at 60 and thereafter wish to maintain their current living standards. To establish a portfolio or other arrangements to save for retirement Assets and abilities for George and Cindy as at December 31, 2020 Liquid Assets HKS Cash & Checking A/C balance 200,000 Savings A/C balance 600,000 Investments Mutual Funds 250,000 Local Stocks 400,000 Retirement Plan Mandatory Provident Fund 320,000 Housing Apartment at North Point (market value) 6,000,000 Automobile Car at market value 120,000 Personal Property Watches & Jewelry 120,000 Furniture & Appliances 90,000 Current Liabilities Current Bilis (unpaid balance) 10,000 Long term Liabilities Mortgage Loan 1,400,000 Other Loans Personal Loan 80,000 Income & Expenses Data for George and Cindy for the year 2020 Income (annual) Salary after taxi - George 500,000 Salary after tax) - andy 150,000 Expenses (annual) Mortgage payments 100,000 Utilities 24,000 Management Fees 24,000 Property rates and taxes 42,000 Other household expenses 30,000 Food and supplies 900 Restaurant Expenses 25,000 Clothing 45,000 Personal care 6,000 Car Loan payments 35,000 Gas, Tolls, Parking 65,000 Repairs 10,000 Entertainment and Vacation 40,000 Medical Expenses 15,000 Insurance -Life, automobile 36,000 Education expenses 40,000 End TASK As a Wealth Manager, prepare a Financial Plan based on the case background of George and Cindy Lee. Your proposal should include: a. Feasibility of the Financial Goals b. Investment Preferences c Investment Strategies d. Other Key Factors (as appropriate) c. Your Recommendations and Action Plan Page 1 of 8 Note: As the case may not likely contain al possible information, you are required to make no more than 5 necessary and reasonable assumptions as appropriate for the case Your report should list and explain these assumptions at the beginning of the report. Case Background: George and Cndy are 36 & 35 year old respectively) and have a son aged 5. George has been working as Senior Manager in a major property development company since his graduation, holding a BBA in Finance. He has been working hard with much stress from work and he wants to find time for social life and hobbies. After graduating from the university, Cindy started working as a dil servant but after they had their son 5 years ago, she quitted her government job and took a part time tutor job, which allowed her to spend more time at home raising their son. They live in a small apartment (still under mortgage in North Point which they bought 5 years ago On the financial side, they do not seem to have serious concerns since George expects his job should be very stable with decent Income. They did not seriously consider financial planning so far. However, Andy is concerned about over spending by her husband. George, on the other hand, holds a very different view. He believes that he should have the right to spend his money as long as he provides adequate financial support to the family Despite their different views, they can compromise on two Issues: They want to save enough money to help pay for the son's education until he finishes the undergraduate degree in a local university or overseas university They come to bring in greater discipline in their financial life to provide for their retirement. They made a rough guess based on market survey to save at least HK$6 million for retirement Insurance Coverage Life Insurance George Cindy $1,300,000 $1,200,000 George and Cindy's Financial Needs Completely fund the university education for their son. Buy a new car for HK$450,000 in about 3 years. Page 2 of George to retire at 60 and thereafter wish to maintain their current living standards. To establish a portfolio or other arrangements to save for retirement Assets and abilities for George and Cindy as at December 31, 2020 Liquid Assets HKS Cash & Checking A/C balance 200,000 Savings A/C balance 600,000 Investments Mutual Funds 250,000 Local Stocks 400,000 Retirement Plan Mandatory Provident Fund 320,000 Housing Apartment at North Point (market value) 6,000,000 Automobile Car at market value 120,000 Personal Property Watches & Jewelry 120,000 Furniture & Appliances 90,000 Current Liabilities Current Bilis (unpaid balance) 10,000 Long term Liabilities Mortgage Loan 1,400,000 Other Loans Personal Loan 80,000 Income & Expenses Data for George and Cindy for the year 2020 Income (annual) Salary after taxi - George 500,000 Salary after tax) - andy 150,000 Expenses (annual) Mortgage payments 100,000 Utilities 24,000 Management Fees 24,000 Property rates and taxes 42,000 Other household expenses 30,000 Food and supplies 900 Restaurant Expenses 25,000 Clothing 45,000 Personal care 6,000 Car Loan payments 35,000 Gas, Tolls, Parking 65,000 Repairs 10,000 Entertainment and Vacation 40,000 Medical Expenses 15,000 Insurance -Life, automobile 36,000 Education expenses 40,000 End