Data Gathering Project Assignment | Online Homework Help

Albert and Annabelle Adams are potential new clients of yours.
They want you to assist them.
Albert and Annabelle have provided the following information and hope this is enough for you to
develop a comprehensive plan. In particular, they wish to have recommendations on Retirement, their
children’s education, debt reduction plan, recommendations on how to invest their money and whether
or not they have enough insurance
 Married
 Two children
 Both work
 Albert has a pension at work
 Own a house
 Two cars
 They have life insurance policies
 Their spending is OK.
 Up to date on income taxes
 Would like to retire early with enough to be comfortable
 Both have an RRSP
 There is an RESP for the children
They hope this is enough for you to get started. IF not, please indicate what else you might need when
they meet with you next week

Adams Family
Albert and Annabelle Adams are potential new clients of yours.
They want you to assist them.
Albert and Annabelle have provided the following information and hope this is enough for you to
develop a comprehensive plan. In particular, they wish to have recommendations on Retirement, their
children’s education, debt reduction plan, recommendations on how to invest their money and whether
or not they have enough insurance
 Married
 Two children
 Both work
 Albert has a pension at work
 Own a house
 Two cars
 They have life insurance policies
 Their spending is OK.
 Up to date on income taxes
 Would like to retire early with enough to be comfortable
 Both have an RRSP
 There is an RESP for the children
They hope this is enough for you to get started. IF not, please indicate what else you might need when
they meet with you next week.
Collection of Information
Clearly, the Adams Family has not provided you what you need.
You will need to collect much more information in order to make recommendations based on analysis.
Use the CFP Professional Competency Profile for reference
• Graphic matric as provided in class https://www.fanshaweonline.ca/d2l/le/content/1026618/
viewContent/8246616/View
Using the 1.1 and 1.2 items on the Competency Profile as a guide, determine what information you
require and the best method to do so.
This must not be an interrogation of the client. They will certainly not stick with you through that.
For each 1.1 and 1.2 item, indicate what you are looking to get from the client (in general) and how you
wish to get this information. You should also look at the required analysis for these planning areas. This
might assist in best determining what you need to know. Try to minimize the number of questions you
must ask
You should consider using all of the following sources:
 Asking the client through interview
 A questionnaire
 Client statements
 Other documentation
In each case outline exactly what you would ask of the client. An effective way to get the proper
information from the client is using a questionnaire (with questions categorized according to financial
planning component) and a document checklist (ie. Documents you would request from the client).
Remember this would be handed out to the client, so it should be completed in a professional manner.