Statement of Advice Prepared For Ms Genevieve Mary Roberson: XXXXX

Statement of Advice prepared for Ms Genevieve Mary Roberson
ABN 41 005 845 778

Australian Financial Services
Licence No. 247413
22/12/2010
Ms Genevieve Mary Roberson

15 Lantana Court
CARNEGIE VIC 3214
Dear Ms Roberson,
Thank you for the opportunity to discuss your financial situation. As a result of our
discussions, please see the attached Statement of Advice (‘SoA’) which you should read
carefully. In the preparation of this SoA, I have taken into account the information you
provided to me, together with your individual financial objectives, goals and attitude
towards risk.
The primary intent of this SoA is to provide you with an investment strategy that meets
with your financial objectives and goals. In its design, a number of investment options
were considered before finalising my recommendations. As the financial planning process
can include several steps, the enclosed SoA should be considered as a starting point to
investing and a basis for future discussion.
As an authorised representative, I am unable to provide taxation and legal advice. I have,
however, included factual information and guidance on future illustrations. I recommend
that you seek professional taxation and legal advice prior to making any investment or
legal decisions.
I look forward to providing you with any further assistance and advice in relation to
financial planning. If you have any queries, please do not hesitate to contact me.
Yours sincerely,
Sample Adviser
Financial Adviser
Authorised Representative No. 26234XXXXX of
Mortgage & General Financial Services Pty Ltd
Page 1 of 34
Statement of Advice
for

22/12/2010
Prepared by
Sample Adviser
Financial Adviser
Authorised Representative number XXXXXX of
Mortgage & General Financial Services Pty Ltd
ABN 4100 584 5778
Australian Financial Services Number 247413
«APF:Adviser Business Address»
Ph «APF:Adviser Business Phone» Fax «APF:Adviser Fax»
This is an important document. You should read it carefully and make sure you
understand it. If there is anything that you disagree with or do not understand, please
contact your financial adviser.
Page 2 of 34
Table Of Contents
IMPORTANT INFORMATION...........................................................................................................................4
EXECUTIVE SUMMARY.....................................................................................................................................5
GOALS AND OBJECTIVES...............................................................................................................................................5

STRATEGY AND RECOMMENDATIONS...............................................................................................................................5
DISCLOSURE.................................................................................................................................................................6
CURRENT POSITION...........................................................................................................................................6
BACKGROUND...............................................................................................................................................................6
PERSONAL SUMMARY....................................................................................................................................................6
DEPENDANTS................................................................................................................................................................7
ASSETS AND LIABILITIES...............................................................................................................................................7
INCOME AND EXPENSES.................................................................................................................................................8
RISK INSURANCE..........................................................................................................................................................8
YOUR OBJECTIVES.......................................................................................................................................................8
ATTITUDE TO INVESTING AND RISK..............................................................................................................................10
YOUR RISK PROFILE..................................................................................................................................................10
RECOMMENDED STRATEGIES.....................................................................................................................11
SUMMARY OF RECOMMENDATIONS...............................................................................................................................11
RECOMMENDED STRATEGY..........................................................................................................................................11
DIVERSIFICATION OVER INVESTMENT MARKET SECTORS..............................................................................................13
RISK/RETURN TRADE-OFF.........................................................................................................................................13
VOLATILITY...............................................................................................................................................................13
RECOMMENDED PRODUCTS.........................................................................................................................14
PRODUCT RECOMMENDATIONS.....................................................................................................................................14
RECOMMENDED ASSET ALLOCATION............................................................................................................................17
ILLUSTRATIONS................................................................................................................................................17
ANNUAL CASH FLOW.................................................................................................................................................18

TAXABLE INCOME.......................................................................................................................................................19
YEAR ONE TAXABLE INCOME BY CLIENT.....................................................................................................................20
PORTFOLIO VALUE.....................................................................................................................................................22
DISCLOSURES.....................................................................................................................................................24
INITIAL FEES AND BROKERAGE....................................................................................................................................24

ONGOING FEES AND BROKERAGE.................................................................................................................................26
EXPLANATION OF MER AND GST..............................................................................................................................27
Page 3 of 34
ONGOING ADVICE AND REVIEW SERVICE..............................................................................................28
ADVISORY SERVICES AND FREQUENCY..........................................................................................................................28

FEES AND CHARGES....................................................................................................................................................28
CLIENT'S OBLIGATIONS AND RESPONSIBILITIES.............................................................................................................28
ACTION TO PROCEED......................................................................................................................................28
AUTHORITY TO PROCEED.............................................................................................................................29
REFERENCE MATERIAL.................................................................................................................................31
MASTER FUNDS AND ASGARD.................................................................................................................................32
Important Information
This Statement of Advice (‘SoA’) is an important document and you should read it
carefully. It is the written record of my advice to you and explains the basis on which this
advice is given. It includes information about any limitations in the advice and outlines
incentives and benefits to be received by me or any associates as a result of providing
this advice to you.
Supporting information, including a Product Disclosure Statements, has also been
provided to help you make an informed decision about the strategy and products
recommended.
Please ensure you read and understand this SoA and the accompanying documents
before making any decision to implement the recommendations.
If there are any errors or omissions with respect to your investment objectives, or if you
require further explanation or clarification with regards to the SoA or accompanying
documents, please contact me.
This advice is based on the information that you have provided to me about you and your
relevant personal circumstances. It is important to ensure that the information you have
provided is complete and accurate, otherwise, this advice may not be appropriate for
you.
You have elected not to provide me with complete information on your financial
circumstances, needs and objectives. Accordingly, the advice provided in this SoA does
not consider all of your financial circumstances, needs and objectives and may not meet
your overall requirements. Before acting on this advice, you should consider the
appropriateness of the advice, having regard to your relevant personal circumstances.
You have requested that this advice is restricted to text. Therefore, the recommendations
contained in this advice are offered without taking full account of available product types
and may not meet your overall financial needs and objectives. Before acting on this
advice, you should consider the appropriateness of this advice, having regard to your
relevant personal circumstances.
You have been offered a full advice service, however, have requested I only provide
advice in relation to text. Accordingly, the advice provided in this SoA does not consider
all of your financial circumstances, needs and objectives and may not meet your overall
requirements. It does not for example consider your insurance, superannuation,
retirement planning or estate planning needs. Before acting on this advice, you should
Page 4 of 34
consider the appropriateness of the advice, having regard to your relevant personal
circumstances.
All estimates and illustrations in my recommendations are based on assumptions
provided by ASSIRT Research and are intended as a guide only.
Please ensure that this SoA contains information that accurately summarises your current
situation, investments and financial objectives. This information is detailed in the section
titled ‘Current Position’. If accurate information has not been provided, this advice may
not be appropriate to your relevant personal circumstances.
Currency of Recommendations
The information in this SoA is current for a period of 45 days only. After this time, the
recommendations should not be implemented as legislation, economic conditions or your
needs may have changed. Any implementation of the recommendation in this SoA
subsequent to the 45-day period should only be made in consultation with me.
Financial Products
A cooling off provision applies if you acquire certain financial products. You have a right
to return the product to the product issuer or seller within 14 days of acquisition. The
money will be repaid to you subject to certain adjustments that operate in relation to
market linked products or where taxes apply.
The cooling off period relates to the following recommended products:
•
•
•
Executive Summary
Goals and Objectives

Your goals and objectives can be summarised as follows:
•
•
•
Strategy and Recommendations

Following our discussions, taking into account your goals and objectives and carefully
considering the available options, I recommend that you undertake the following
strategy:
•
•
•
This is illustrated in the diagram below.
Page 5 of 34
Source A Source B Source C

$XXX $XXX $XXX
Recommended Recommended
investment A investment B
$XXX $XXX
Disclosure
I am required to disclose any incentives provided to me to recommend products. I am
also required to disclose all upfront and ongoing commissions and benefits received by
myself, Mortgage & General Financial Services Pty Ltd, or any associates, should you
accept the recommendations contained in this SoA. Full Details are provided in the
Disclosures section of this SoA, however, I have also included a summary below.
As discussed and agreed by you, a fee of $1,000.00 (X.X percent) is payable for the
preparation of this advice.
If you accept my recommendations and choose to have me place these investments for
you, then you will be charged a fee of X.X percent of the total value of the investments.
Future contributions to this investment will be subject to a fee of $XX (X.X percent).
As a result of my recommendation to contribute on an ongoing basis, I will receive $XX

(X.X percent) initial commission for each contribution.
Ongoing fees will be deducted by INSERT MASTERFUND NAME from your Account each
month. Based on your existing balance, annual ongoing fees deducted from your account
will be $XX (X.X percent), of which I will receive $XX (X.X percent). This ongoing fee
includes Administration fees, Expense Recovery fees and Responsible Entity fees, my
fees and those of my licensee.
Underlying Investment Manager expenses and fees are not included in the ongoing fees
above. These costs, referred to as the Management Expense Ration, are deducted by the
Investment Manager from the income/growth of your Account. I do not receive any of this
fee which is detailed in the accompanying Product Disclosure Statement (PDS)/Disclosure
Table (where Separately Managed Accounts).
Current Position
The following information summarises your current personal and financial position, and
your goals and objectives for the immediate and long-term future.
Background
Free text
Personal Summary
PERSONAL DETAILS GENEVIEVE MARY

Occupation Consultant
Page 6 of 34
Date of birth 4 December 1952

Age last birthday 51
Marital Status Widowed
Proposed retirement age 65
Dependants
NAME AGE LAST BIRTHDAY AGE DEPENDENCY CEASES

David 29 18
Angela 26 18
Assets and Liabilities

Your current assets and liabilities are outlined below:
Description Amount ($)
ASSETS
Motor Vehicle (insured) 15,000
Principal Residence (insured) 500,000
Brenton Ave Rental Property 300,000
National Aust. Bank 25,000
Macquarie Cash Management 750,000
ANZ Super Fund 60,000
Total of Assets 1,650,000
LIABILITIES
Total of Liabilities Nil

NET WORTH 1,650,000
Page 7 of 34
Income and Expenses

Your current income and expenditure is as follows:
CASHFLOW SOURCE TOTAL ($)
Salary & Wage 80,000
Brenton Ave Rental Property 9,000
National Aust. Bank 1,000
Macquarie Cash Management 33,750
TOTAL INFLOWS 123,750
Other 25,000
TOTAL OUTFLOWS 25,000
Tax Payable 39,416
Medicare 2,879
Unused Imputation Credits
SURPLUS 56,455
Risk Insurance
You have advised that you have the following insurance policies in place:
Insuranc Contract Owner Life Annual Benefit Benefi Waitin
e Type Assure Premiu ($) t g
Policy d m Period Period
($)
Income Income Geneviev MLC 3,528.00 60,000.0 30 days
Protection Protectio e Mary 0
n
Total 3,528.0
0
Your Objectives
We discussed your lifestyle goals and how these translate into financial goals. You have
advised that your objectives are:
•
•
•
Estimated Funds Required
You have informed me that you have the following retirement plans:
Retirement Plans Estimated Income per Retirement Age
annum (in today’s
dollars)
CLIENT / HOUSEHOLD $0.00 65
Retirement Plans Estimated Income per Retirement Age

annum (in today’s
dollars)
Genevieve Mary $0.00 65
Page 8 of 34
«APF:Client 2 Given $ 0
Name»
If there are funds that are to be used immediately, please note that these have not been
taken into consideration in this SoA.
In addition to these goals and objectives, you have also stated that you require $XX in
liquid funds to be set aside for emergencies.
Page 9 of 34
Attitude to Investing and Risk

As well as achieving your goals, I want to help you to satisfy your future needs. Research
indicates some of the most common needs for clients when seeking financial advice are:
1. Security of Capital – concern about losing capital as a result of fluctuations in
the value of your portfolio.
2. Wealth Accumulation – capital growth of your portfolio.
3. Income – that your portfolio produces an immediate income.
4. Tax Efficiency – concern about the amount of tax you pay.
5. Ease of Withdrawal – ready access to your funds.
6. Comfort Factor – trust in the reputation and service provided by your financial
adviser and investment companies.
7. Simplicity – easy to understand solutions.
8. Communication – to be kept well informed about investments.
Your Risk Profile

A number of interacting factors will influence your Risk Profile. These factors include your
attitude towards taking chances (risk tolerance), your knowledge of investments and the
share market, your investment experience and your time horizon. Your time horizon is
determined by what proportion of your funds you require at a particular time.
Every investment decision that you make involves some degree of risk, as there will
always be a chance that you will not achieve your financial goals. Your ideal investment
portfolio should be expected to achieve the anticipated results without causing you
undue worry.
If you are not comfortable with the selected risk profile, please let me know immediately,
as it is a key consideration when forming my recommendations.
For the purposes of preparing a financial strategy, you completed the Investor Risk Profile
Workbook.
Our assessment of your needs, objectives and personal circumstances indicates that you
would be most comfortable with a High Growth portfolio.
The High Growth portfolio is suitable for investors seeking a higher return investment.
They are prepared to invest for a long term and ride out extended periods of negative
returns provided they may benefit from higher returns. The High Growth portfolio will
have a large allocation of around 95% to growth assets such as shares and property.
Capital is therefore not guaranteed and there will be large fluctuations and some
negative returns from year to year. There is a significant risk of a portfolio decreasing in
value in the short term although this is substantially reduced for investments over the
recommended minimum investment term of ten years.
Taking into consideration your risk profile and your investment time frame, the following
chart shows the asset allocation associated with this risk profile.
Page 10 of 34
High Growth Risk Profile
50%
5%
45%
Property Equity International Equity Australian
Recommended Strategies
I considered a number of options before finalising the recommendations set out in this
SoA. I believe that the recommended strategy and investments will help you to achieve
your financial goals and objectives.
Summary of Recommendations
Source of Funds Amount Recommended Application Amount

($) ($)
Investment - Direct 325,000 ASGARD eWRAP Investment 654,020
Investment - Ordinary 750,000 ASGARD eWRAP Super 155,980
Managed Fund
Investment - Super / 60,000 Investment - Direct 325,000
Rollover/ETP
TOTAL 1,135,00 TOTAL 1,135,00
0 0
Investment Owner Investment Employ Salary Deduc Spous Unded

Amount er Sacrifi tible e ucted
($) Contrib ce Contri Contri Contri
ution Contri bution bution bution
($ pa) bution ($ pa) ($ pa) ($ pa)
($ pa)
ASGARD eWRAP Genevie 155,980 0 0 0 0 0
Super ve Mary
Roberso
n
Recommended Strategy
Page 11 of 34
Detailed Recommendations and Strategy

In order to meet your personal and financial objectives, I recommend the following.
•
•
•
Reasons for Recommendations

The reasons for my development of the recommended strategy are detailed below.
1. Recommendation/strategy
•
Reasons for recommendation:
•
•
•
•
•
•
•
•
•
•
•
Where references are made to the reference material attached, please ensure that you
read the reference material to help you to better understand the reasons for my
recommendations.
If you believe that there are objectives or needs which have not been
addressed in the strategy shown, please notify me immediately.
If you select products other than those I have researched and recommended, I may not
be able to provide appropriate information on these products. All products recommended
in this SoA have been selected based on comprehensive research and this may not apply
to products selected at your direction.
Alternative Strategies Considered

In designing the recommended investment strategy, the following options were
considered:
•
•
Page 12 of 34
Diversification Over Investment Market Sectors

In preparing this SoA, I have selected a combination of investments designed to best suit
your requirements.
Investment sectors move in different cycles. In order to minimise the volatility and risk in
a portfolio, it is necessary to diversify across the various asset classes, with the weighting
of each asset class reflecting economic conditions and investment prospects.
It is also important to achieve a balance between income and growth, according to your
needs and objectives. This allows income requirements to be met, whilst minimising
taxation liability. It is also important to protect the value of capital against the effects of
inflation.
Risk/Return Trade-Off
The relationship between long-term risk and return in different asset classes is illustrated
in the following graph:
In general, most people are conversant with the concept of investment return and
understand, for example, that a 10 percent per annum return on $100,000 would result in
$10,000 being received each year. However, many people do not clearly understand
volatility, a concept that can be explained as follows.
Volatility
Volatility is a term that refers to the unpredictable upward and downward shifts in
investment values over a period of time. The greater the volatility, the more frequent the
shifts in investment values.
Volatility occurs across the life of an investment however the highest impact is generally
in the short-term and historically the effects of volatility have generally been smoothed
out over the long term. Assets subject to higher volatility have tended in the past to yield
higher returns over the long-term.
In deciding the constituents of your portfolio, I have decided that a spread of assets
would best suit your needs. This approach should provide you with a good opportunity to
Page 13 of 34
achieve the best long-term returns for the level of volatility that you are prepared to
accept.
Recommended Products
Product Recommendations
In line with the strategies discussed above, I recommend the following specific
investments. I have made my recommendations based on the Approved Product List
referred to in the Financial Services Guide.
Why ASGARD?
I have decided to recommend ASGARD as an alternative to investing directly with
investment managers. ASGARD is a master fund (an administration facility) which
provides such benefits as:
• access to a wide range of managed investments allowing you to choose a
diversified portfolio – through a single account
• the flexibility to alter your investments should your personal needs or financial
goals change
• the convenience of regular and consolidated reports on all your investments
• generally lower investment manager charges than retail funds.
The following diagram illustrates how these platforms work.
Your capital for investment
Inves tment into the Service
Income or Consolidated reporting
ASGARD Master Trust

or eWRAP Account
Investment into each Fund or Shares
Income from each Fund or Share
Managed Managed Managed Shares

Fund Fund Fund
A B C D
Further information is provided in the ASGARD PDS and other supporting material which
accompanies this SoA.
Page 14 of 34
Investments
Investments Status Amount Owner Reinve Est (%) Est (%)

st
($) income Growth Income
ASGARD eWRAP Genevie
Investment ve Mary
APN Property for Income New 20,929 Y -0.20 6.20
Citigroup Prop Sec Trust X New 12,734 Y -0.20 6.80
Col First State Wsale Glob New 62,132 Y 6.30 2.80
Res
Credit Suisse Aust Sml Co New 51,668 Y 4.50 5.30
Fd
eCASH Account New 1,000 Y 0.00 4.30
Hunter Hall Aust Value New 85,023 Y 4.80 4.70
IOOF Perennial Wsale Value New 103,335 Y 4.80 5.40
Sh
Perpetual Wsale Industrial New 103,335 Y 4.50 5.40
Sh
Platinum International Fund New 155,003 Y 5.30 2.50
Vanguard Int Share Index New 58,862 Y 6.40 3.80
Wsale
ASGARD eWRAP Super Genevie
ve Mary
APN Property for Income New 4,991 Y -0.20 6.20
CASH Account New 3,250 Y 0.00 4.00
Citigroup Prop Sec Trust X New 3,276 Y -0.20 6.80
Col First State Wsale Glob New 11,568 Y 6.30 2.80
Res
Credit Suisse Aust Sml Co New 9,072 Y 4.50 5.30
Fd
Hunter Hall Aust Value New 20,278 Y 4.80 4.70
IOOF Perennial Wsale Value New 24,644 Y 4.80 5.40
Sh
Perpetual Wsale Industrial New 24,644 Y 4.50 5.40
Sh
Platinum International Fund New 36,967 Y 5.30 2.50
Vanguard Int Share Index New 17,289 Y 6.40 3.80
Wsale
Investment - Direct
Brenton Ave Rental Retained 300,000 Geneviev N 0.00 3.00
Property e Mary
National Aust. Bank Retained 25,000 Geneviev N 4.00 - 4.00
e Mary 6.10
Investment Total 1,135,00
0
Please note:
• All estimated growth and income figures have been provided by ASSIRT Research
Ltd. ASSIRT is part of the St.George Group.
• The rates of return used to prepare the above estimates for income and capital
growth are estimated illustrations only.
• The performance of investment products falls as well as rises depending upon
economic and market cycles as well as the particular investment strategies of the
Fund Manager(s) providing the product(s).
Page 15 of 34
• No guarantee of investment performance or rates of return on either capital or

income can be given, nor is implied, by these illustrations. You should also
understand that past performance may not be indicative of future performance.
• Refer to the relevant Product Disclosure Statement(s) for performance reports,
fees, fund strategy and asset allocation of each of the recommended investments.
Page 16 of 34
Recommended Asset Allocation

It is important to gain diversification across asset classes to reduce risk and to enhance
potential returns. This graph indicates the spread of your total portfolio across the asset
classes.
Your total exposure to growth assets including Australian and international shares and
listed property trusts is XX percent after implementation of the recommendations.
If you do not feel comfortable with this level of exposure to the sharemarket,
please do not implement my recommendations until this has been discussed
with me.
ASSET ALLOCATION
60
50
Recommended
40
30
%
20
10 Target
0
AC AFI AS II IS DP LP O
Sector Actual Target Variance

(%) (%) (%)
Australian Cash (AC) 6.33 0.00 6.33
Australian Fixed Interest (AFI) 0.00 0.00 0.00
Australian Shares (AS) 31.54 50.00 -18.46
International Interest (II) 0.00 0.00 0.00
International Shares (IS) 32.04 45.00 -12.96
Direct Property (DP) 26.83 0.00 26.83
Listed Property (LP) 3.53 5.00 -1.47
Other (O) 0.20 0.00 0.20
The asset distribution shown in this graph should be viewed as a long-term target. Actual
allocations sometimes vary due to market fluctuations.
In calculating the above asset allocation, the family home has been excluded.
Illustrations
The following tables show estimates of income, expenditure and capital growth based on
my recommendations and the information supplied by you. The following assumptions
have been used in the calculation of the illustrations:
•
Page 17 of 34
•
•
Annual Cash Flow

These estimates have been produced as a guide to help you assess the effect of inflation
over time and to provide an indication of the real value of income that may be produced
by your portfolio. You should be aware that these estimates are based on assumptions
about growth in asset values and future earning rates. Thus, I cannot guarantee that
returns will be as predicted in any time period.
Note: Inflows detailed in the table below do not include reinvested income. Outflows may
require a combination of income and the drawdown of capital to meet your needs. All
cash flow amounts are expressed in future dollars.
Cash Flow Source Status Year 1 Year 2 Year 3 Year 5 Year 10
($) ($) ($) ($) ($)
Salary & Wage 80,000 82,400 84,872 90,041 104,382
eCASH Account (Inv. New 27,339 29,774 32,378 38,137 56,318
Income)
Brenton Ave Rental Retained 9,000 9,000 9,000 9,000 9,000
Property (Inv. Income)
National Aust. Bank (Inv. Retained 1,000 1,040 1,082 1,170 1,423
Income)
TOTAL INFLOWS 117,339 122,214 127,33 138,34 171,12
1 7 4
Other 25,000 25,750 26,523 28,138 32,619
eCASH Account (Reinv. Retained 27,339 29,774 32,378 38,137 56,318
Income)
ASGARD eWRAP Investment Retained
(Reinv. Income)
Brenton Ave Rental Retained
Property (Reinv. Income)
National Aust. Bank (Reinv. Retained
Income)
TOTAL OUTFLOWS 52,339 55,524 58,900 66,274 88,938
Tax Payable 33,737 35,912 38,196 43,112 57,751
Medicare Levy 2,809 2,936 3,070 3,357 4,213
SURPLUS (DEFICIT) 28,454 27,842 27,166 25,603 20,222
Net Present Value 27,625 26,243 24,860 22,085 15,047
Page 18 of 34
Taxable Income
The following table details your income from all sources (including the recommended
portfolio) and estimates your tax position as if my recommendations had been
implemented.
The estimate is a guide only and depends on the continuation of current taxation
treatment of deductible expenses as well as current taxation laws and tax rates.
Taxation Details Year 1 Year 2 Year 3 Year 5 Year 10
($) ($) ($) ($) ($)
Salary & Wage 80,000 82,400 84,872 90,041 104,382
Investment Income 37,339 39,814 42,459 48,306 66,742
Dividend Imputable 4,777 4,997 5,227 5,719 7,164
ASSESSABLE INCOME 122,115 127,210 132,558 144,066 178,288
Tax free Income 9,768 9,767 9,767 9,767 9,767
TAXABLE INCOME 112,348 117,443 122,791 134,300 168,521
Gross Tax 38,514 40,909 43,422 48,832 64,916
Imputation Rebate Entitlement 4,777 4,997 5,227 5,719 7,164
TAX PAYABLE 33,737 35,912 38,196 43,112 57,751
Assessable Income 122,115 127,210 132,558 144,066 178,288
Dividend Imputable 4,777 4,997 5,227 5,719 7,164
Tax Payable 33,737 35,912 38,196 43,112 57,751
Medicare Levy 2,809 2,936 3,070 3,357 4,213
INCOME AFTER TAX 80,793 83,365 86,066 91,877 109,159
Net Present Value 78,439 78,580 78,762 79,254 81,225
Please note:
• Capital gains tax calculations are not included in this illustration. When
interpreting these figures, adequate allowance should be made for any capital
gains tax that may be payable as a result of withdrawals from investments.
• I am not authorised by Mortgage & General Financial Services Pty Ltd to provide
advice in relation to taxation. I have however provided estimates and explanations
based on my understanding and interpretation of the relevant legislation at the
time this SoA was written. Due to its complexity and the speed and frequency with
which taxation laws and regulations may change, I recommend you seek more
detailed advice from your taxation adviser on any taxation issues relating to my
recommendations.
• Any imputation credits not used to reduce your tax liability to zero may be
refunded to you. Please refer to the ‘Reference Material’ for more information.
• Unless you have nominated that you have private health insurance with hospital
cover, these illustrations will incorporate the additional Medicare Levy Surcharge
at a rate of 1 percent if your taxable income exceeds the Medicare Levy Surcharge
thresholds.
Page 19 of 34
Year One Taxable Income by Client

The following table details your estimated tax position for the first year of implementation
of the recommended portfolio. The estimate is a guide only and depends on the
continuation of current taxation treatment of deductible expenses as well as current
taxation laws and tax rates.
Taxation Details Genevieve Total
Mary
Salary & Wage 80,000 80,000
Investment Income 37,339 37,339
Dividend Imputable 4,777 4,777
ASSESSABLE INCOME 122,115 122,115
Tax free Income 9,768 9,768
TAXABLE INCOME 112,348 112,348
Gross Tax 38,514 38,514
Imputation Rebate Entitlement 4,777 4,777
TAX PAYABLE 33,737 33,737
Assessable Income 122,115 122,115
Dividend Imputable 4,777 4,777
Tax Payable 33,737 33,737
Medicare Levy 2,809 2,809
INCOME AFTER TAX 80,793 80,793
Net Present Value 78,439 78,439
Please note:
gains tax that may be payable as a result of withdrawals from investments. As
previously mentioned, you should consult with your taxation adviser to determine
your particular taxation position.
Page 20 of 34
Page 21 of 34
Portfolio Value
The following table illustrates the growth of your portfolio after allowing for fees,
investment income and capital spending.
These estimates have been produced as a guide to help assess the effects of inflation
over time and to provide an indication of the real value of your portfolio.
You should be aware that these estimates are based on assumptions about growth in
asset values and future earning rates. No guarantee as to the accuracy of these
illustrations can be made nor is implied.
ENSURE THAT THE TABLE REFLECTS THE TIME FRAME OF THE CLIENT (s)
Portfolio Value at year Status Year 1 Year 2 Year 3 Year 5 Year 10
end ($) ($) ($) ($) ($)
APN Property for Income New 20,427 20,386 20,346 20,264 20,063
(ASGARD eWRAP
Investment)
Citigroup Prop Sec Trust X New 12,429 12,404 12,380 12,330 12,207
(ASGARD eWRAP
Investment)
Col First State Wsale Glob New 64,593 68,663 72,988 82,475 111,940
Res (ASGARD eWRAP
Investment)
Credit Suisse Aust Sml Co New 52,805 55,181 57,664 62,971 78,473
Fd (ASGARD eWRAP
Investment)
eCASH Account (ASGARD New 28,339 58,112 90,490 163,788 406,654
eWRAP Investment)
Hunter Hall Aust Value New 87,143 91,326 95,710 105,119 132,888
(ASGARD eWRAP
Investment)
IOOF Perennial Wsale Value New 105,913 110,997 116,324 127,760 161,510
Sh (ASGARD eWRAP
Investment)
Perpetual Wsale Industrial New 105,610 110,362 115,328 125,941 156,946
Sh (ASGARD eWRAP
Investment)
Platinum International Fund New 159,627 168,087 176,996 196,255 254,075
(ASGARD eWRAP
Investment)
Vanguard Int Share Index New 61,251 65,171 69,342 78,502 107,050
Wsale (ASGARD eWRAP
Investment)
APN Property for Income New 5,182 5,493 5,823 6,542 8,795
(ASGARD eWRAP Super)
CASH Account (ASGARD New 3,380 3,515 3,656 3,954 3,656
eWRAP Super)
Citigroup Prop Sec Trust X New 3,421 3,646 3,887 4,417 6,107
Col First State Wsale Glob New 12,362 13,487 14,714 17,514 27,172
Res (ASGARD eWRAP
Super)
Credit Suisse Aust Sml Co New 9,757 10,713 11,763 14,182 22,714
Fd (ASGARD eWRAP Super)
Hunter Hall Aust Value New 21,749 23,815 26,078 31,268 49,402
Page 22 of 34
IOOF Perennial Wsale Value New 26,601 29,315 32,305 39,231 63,981
Sh (ASGARD eWRAP Super)
Perpetual Wsale Industrial New 26,529 29,155 32,042 38,700 62,264
Sh (ASGARD eWRAP Super)
Platinum International Fund New 39,033 42,078 45,360 52,712 77,048
Vanguard Int Share Index New 18,662 20,565 22,663 27,522 44,885
Wsale (ASGARD eWRAP
Super)
HBA Retained 1,800 1,800 1,800 1,800 1,800
Principle Residence Home - Retained 200 200 200 200 200
Contents
Principle Residence Retained 700 700 700 700 700
Insurance
Brenton Ave Rental Retained 300,000 300,000 300,000 300,000 300,000
Property
National Aust. Bank Retained 26,000 27,040 28,122 30,416 37,006
Income Protection Retained 3,528 3,528 3,528 3,528 3,528
Operating Bank Account 28,454 56,296 83,461 135,485 248,286
Portfolio Value 1,225,49 1,332,0 1,443,6 1,683,5 2,399,3
6 37 70 76 49
Net Present Value 1,189,80 1,255,5 1,321,1 1,452,2 1,785,3
2 73 62 68 41
The following is a graphical representation of the above illustration.
Projected Portfolio Value

2000000
1500000
$ 1000000
500000
0
1 2 3 4 5
Years
Please note:
• The values are calculated from the anniversary date of this plan. Thus, Year 1
portfolio values are for the 12 months following 26/11/2004.
gains tax that may be payable as a result of any withdrawals from investments.
• Generally, the recommended investments require a time frame of at least XX
years for performance objectives to be confidently achieved. Illustrations of
portfolio value over a lesser period are subject to significant variation and may not
be achieved.
• The performance of the portfolio I have recommended may fall as well as rise,
depending upon economic and market cycles as well as the particular investment
strategies of the Fund Managers providing the products. Please refer to the
relevant Product Disclosure Statements for performance reports, fund strategy,
asset allocation and specific risks for each of the recommended investments.
Page 23 of 34
• Net present value shows the effects of inflation over time assuming an inflation
rate of 3 percent.
Disclosures
As an authorised representative, I am required to disclose all upfront and ongoing
commissions, benefits or advantages received by myself, Mortgage & General Financial
Services Pty Ltd and any of my associates, should you accept the recommendations
contained in this SoA.
Mortgage & General Financial Services Pty Ltd is the holder of an Australian Financial
Services Licence issued by the Australian Securities and Investments Commission.
I am required to disclose that:
• I will receive initial and ongoing fees and brokerage in relation to the investments
recommended in this SoA.
• I may also receive additional benefits such as increased commissions, sales
volume bonuses, assistance with marketing expenses and other sales rewards, for
example, gift vouchers.
• Additional benefits may be paid to me by master fund, Mortgage & General
Financial Services Pty Ltd or Fund Managers. These are not additional to fees
disclosed below.
• Personal association/Directorships/Other
• Investment Managers may pay master fund a fee rebate based on the size of the
master fund’s total investment in their managed funds. The master fund passes on
this rebate in full to you. For further information, please refer to the Master fund
Product Disclosure Statement.
• St.George pays ASGARD 0.275 percent (including GST) commission on the funds
invested in the eCASH Account. ASGARD passes this commission onto me. This is
not an additional cost to you.
• For recommendations, I receive X.X percent of commissions paid to Mortgage &
General Financial Services Pty Ltd and Mortgage & General Financial Services Pty
Ltd retains X.X percent. This is reflected in all disclosure tables shown below.
• If the recommendation is accepted, «APF:Referral Name» will receive X.X percent

of the total initial commission, being $XX for the referral of your business, and X.X
percent of the total ongoing commission. This will be paid from the total initial fees
and total ongoing fees disclosed in the tables following and will not be an
additional cost to you.
• If you use the services of «APF:Referral Name», I will receive X.X percent of the
total initial commission, being $XX for the referral of your business, and X.X
percent of the total ongoing commission. This will be paid for by «APF:Referral
Name» and is not an additional cost to you.
The initial and ongoing fees below are payable for this SoA and the ongoing
administration of your account for the first twelve months period. They do not cover
ongoing advice or portfolio reviews on additional investments.
I have recommended that you invest your capital as set out in the Initial Fees table. All
initial fees, including my fees and those of Mortgage & General Financial Services Pty Ltd
are included in the Total Entry Fee. If you instruct me to place these investments, these
fees will be charged to you as mour implementation cost.
Initial Fees and Brokerage
Page 24 of 34
As discussed and agreed by you, a flat fee of $1,000.00 is payable for the preparation of
this advice. This fee, due at this time, is payable to Mortgage & General Financial
Services Pty Ltd. Where initial commission is received, it will be fully rebated/X.X percent
will be rebated to you.
If you accept my recommendations and choose to have me place these investments for
you, then you will be charged a fee of X.X percent of the total value of the investments.
Investment Investm Representat License Fund Platfor Total
ent ive e Manag m Entry
er
Name Amount Fee Fee Fee Fee Fee
ASGARD eWRAP
Investment
eCASH Account $1,000 $0 (0.00%) $0 N/A $0 $0
(0.00%) (0.00%) (0.00%)
APN Property for Income $20,929 $322 (1.54%) $138 N/A $0 $460
(0.66%) (0.00%) (2.20%)
Citigroup Prop Sec Trust $12,734 $196 (1.54%) $84 N/A $0 $280
X (0.66%) (0.00%) (2.20%)
Col First State Wsale Glob $62,132 $957 (1.54%) $410 N/A $0 $1,367
Res (0.66%) (0.00%) (2.20%)
Credit Suisse Aust Sml Co $51,668 $796 (1.54%) $341 N/A $0 $1,137
Fd (0.66%) (0.00%) (2.20%)
Hunter Hall Aust Value $85,023 $1,309 $561 N/A $0 $1,870
(1.54%) (0.66%) (0.00%) (2.20%)
IOOF Perennial Wsale $103,33 $1,591 $682 N/A $0 $2,273
Value Sh 5 (1.54%) (0.66%) (0.00%) (2.20%)
Perpetual Wsale $103,33 $1,591 $682 N/A $0 $2,273
Industrial Sh 5 (1.54%) (0.66%) (0.00%) (2.20%)
Platinum International $155,00 $2,387 $1,023 N/A $0 $3,410
Fund 3 (1.54%) (0.66%) (0.00%) (2.20%)
Vanguard Int Share Index $58,862 $906 (1.54%) $388 N/A $0 $1,295
Wsale (0.66%) (0.00%) (2.20%)
ASGARD eWRAP Super
CASH Account $3,250 $0 (0.00%)
$0 N/A $0 $0
(0.00%) (0.00%) (0.00%)
APN Property for Income $4,991 $72 (1.435%) $31 N/A $0 $102
(0.615%) (0.00%) (2.05%)
Citigroup Prop Sec Trust $3,276 $47 (1.435%) $20 N/A $0 $67
X (0.615%) (0.00%) (2.05%)
Col First State Wsale Glob $11,568 $166 $71 N/A $0 $237
Res (1.435%) (0.615%) (0.00%) (2.05%)
Credit Suisse Aust Sml Co $9,072 $130 $56 N/A $0 $186
Fd (1.435%) (0.615%) (0.00%) (2.05%)
Hunter Hall Aust Value $20,278 $291 $125 N/A $0 $416
(1.435%) (0.615%) (0.00%) (2.05%)
IOOF Perennial Wsale $24,644 $354 $152 N/A $0 $505
Value Sh (1.435%) (0.615%) (0.00%) (2.05%)
Perpetual Wsale $24,644 $354 $152 N/A $0 $505
Industrial Sh (1.435%) (0.615%) (0.00%) (2.05%)
Platinum International $36,967 $530 $227 N/A $0 $758
Fund (1.435%) (0.615%) (0.00%) (2.05%)
Vanguard Int Share Index $17,289 $248 $106 N/A $0 $354
Wsale (1.435%) (0.615%) (0.00%) (2.05%)
Total $810,00 $12,247 $5,249 $0 $0 $17,49
0 7
Please note:
Page 25 of 34
• Dollar amounts are rounded up to the nearest dollar.

• The above table contains information relating only to the initial sum invested. All
subsequent investments to the account will be subject to fees at the same
percentage rate (but different dollar amounts).
Ongoing Contributions Disclosure
Ongoing Fees and Brokerage

Ongoing fees will be deducted from your Account each month. The table below sets out
the total fees deducted over one year.
All ongoing fees and commissions, including master fund Administration fees,
Expense Recovery fees and Responsible Entity fees, my fees and those of my
licensee are included in the Total Ongoing Fee.
Commissions are paid out of (not in addition to) the Total Ongoing Fee charged by the
Fund Manager.
Ongoing commission generally continues until you redeem the investment. The amounts
may vary according to the value of your Account.
Investment Original Representat License Fund Platfor Total
ive e Manag m
er
Name Amount Fee Fee Fee Fee Ongoin
g
Investe Fee
d
Brenton Ave Rental $300,00 $0 (0.00%) $0 $0 N/A $0
Property 0 (0.00%) (0.00%) (0.00%)
National Aust. Bank $25,000 $0 (0.00%) $0 $0 N/A $0
(0.00%) (0.00%) (0.00%)
ASGARD eWRAP
Investment
eCASH Account $1,000 $2 (0.1925%) $1 $0 $0 $3
(0.0825 (0.00%) (0.00%) (0.275%
%) )
APN Property for Income $20,929 $161 (0.77%) $69 $262 $100 $592
(0.33%) (1.25%) (0.49%) (2.84%)
Citigroup Prop Sec Trust $12,734 $98 (0.77%) $42 $92 $61 $293
X (0.33%) (0.72%) (0.49%) (2.31%)
Col First State Wsale Glob $62,132 $478 (0.77%) $205 $721 $298 $1,702
Res (0.33%) (1.16%) (0.49%) (2.75%)
Credit Suisse Aust Sml Co $51,668 $398 (0.77%) $171 $460 $248 $1,276
Fd (0.33%) (0.89%) (0.49%) (2.48%)
Hunter Hall Aust Value $85,023 $655 (0.77%) $281 $1,905 $407 $3,247
(0.33%) (2.24%) (0.49%) (3.83%)
IOOF Perennial Wsale $103,33 $796 (0.77%) $341 $847 $495 $2,479
Value Sh 5 (0.33%) (0.82%) (0.49%) (2.41%)
Perpetual Wsale $103,33 $796 (0.77%) $341 $950 $495 $2,582
Industrial Sh 5 (0.33%) (0.919 (0.49%) (2.509%
%) )
Platinum International $155,00 $1,194 $512 $2,387 $743 $4,835
Fund 3 (0.77%) (0.33%) (1.54%) (0.49%) (3.13%)
Vanguard Int Share Index $58,862 $453 (0.77%) $194 $212 $282 $1,141
Page 26 of 34
Wsale (0.33%) (0.36%) (0.49%) (1.95%)

ASGARD eWRAP Super
CASH Account $3,250 $6 (0.1792%) $2 $0 $0 $8
(0.0768 (0.00%) (0.00%) (0.256%
%) )
APN Property for Income $4,991 $38 (0.77%) $16 $62 $42 $159
(0.33%) (1.25%) (0.8515 (3.2015
%) %)
Citigroup Prop Sec Trust $3,276 $25 (0.77%) $11 $24 $27 $87
X (0.33%) (0.72%) (0.8515 (2.6715
%) %)
Col First State Wsale Glob $11,568 $89 (0.77%) $38 $134 $97 $358
Res (0.33%) (1.16%) (0.8515 (3.1115
%) %)
Credit Suisse Aust Sml Co $9,072 $70 (0.77%) $30 $81 $76 $256
Fd (0.33%) (0.89%) (0.8515 (2.8415
%) %)
Hunter Hall Aust Value $20,278 $156 (0.77%) $67 $454 $170 $847
(0.33%) (2.24%) (0.8515 (4.1915
%) %)
IOOF Perennial Wsale $24,644 $190 (0.77%) $81 $202 $206 $679
Value Sh (0.33%) (0.82%) (0.8515 (2.7715
%) %)
Perpetual Wsale $24,644 $190 (0.77%) $81 $226 $206 $704
Industrial Sh (0.33%) (0.919 (0.8515 (2.8705
%) %) %)
Platinum International $36,967 $285 (0.77%) $122 $569 $309 $1,285
Fund (0.33%) (1.54%) (0.8515 (3.4915
%) %)
Vanguard Int Share Index $17,289 $133 (0.77%) $57 $62 $145 $397
Wsale (0.33%) (0.36%) (0.8515 (2.3115
%) %)
Total $1,135, $6,213 $2,662 $9,650 $4,407 $22,93
000 0
Please note:
• The above table does not take into account any changes in account valuation or
any additional contributions you may make.
• Dollar amounts are rounded up to the nearest dollar.
Ongoing Contributions Disclosure
Explanation of MER and GST
Management Expense Ratio (MER)

Other costs associated with implementing the investments recommended include the
Investment Managers’ expenses and fees. These costs, referred to as the Management
Expense Ratio (MER) are normally expressed as a percentage of the size of the managed
investment and deducted by the underlying Investment Manager from the income/growth
of your account and are not included in the table above . MERs vary between Investment
Managers and their products. You will find full details of the MERs for the above
Page 27 of 34
investments in the master fund Product Disclosure Statement. MERs are not applicable
for risk products.
Goods and Services Tax (GST)

All managed investment fees (both initial and ongoing) are subject to GST which is
charged to your Account at 10 percent. However, the funds can claim an input tax credit
for 75 percent of the GST that applies to these fees, resulting in a net GST impact to your
account of 2.5 percent (that is, 10 percent less 7.5 percent). This net GST cost of 2.5
percent will be deducted from your Account as an expense at the same time that fees are
charged to your Account. You have no entitlement to input tax credits in respect of fees
charged to your Account.
All managed investment fees are subject to GST which is charged to your Account at 10
percent. This GST cost of 10 percent will be deducted from your Account as an expense
at the same time that fees are charged to your Account. You have no entitlement to input
tax credits in respect of fees charged to your Account.
Ongoing Advice and Review Service

Our ongoing advisory service will help ensure you continue to meet your financial
planning needs and objectives.
Advisory Services and Frequency
• Review Service: “Your personal circumstances, risk profile and needs and
objectives will be revisited Frequency/Date and your investment portfolio and
strategy will be reviewed. We will contact you Frequency/Date and make
recommendations on the basis of this review.”
• Client-Requested Review: “You have declined my offer to receive an ongoing
review service. If you do wish to receive a review of your portfolio, you may
contact us at any time.”
• Call at any time with queries: “We are contactable by telephone during business
hours or you can email your enquiry at a time convenient to you.”
• Other
Fees and Charges
• The fees and charges for this Advice Review Service are in addition to the on-
going trail commissions as detailed in this Statement of Advice. $XXX or % of
funds under management will be charged per year.
• All fees and charges for this Advice Review Service are included in the on-going
fee disclosure detailed above.
Client's Obligations and Responsibilities
• To provide this Full Review Service, you should advise us of any changes to your
personal and financial circumstances, needs or objectives.
• If you no longer wish to receive this service, you should notify me immediately.
Action to Proceed
5. Please ensure that you read the attached Statement of Advice and appendices.
Page 28 of 34
6. Please ensure that you read the Product Disclosure Documents and disclosure
documents that have been provided to you.
7. If necessary, arrange another appointment with me to discuss the
recommendations made and address any further questions or concerns that you
may have.
8. Once you are comfortable with the recommendations in the SoA please arrange an
appointment with me and bring to the appointment:
• the attached Authority to Proceed signed and dated,
• cheques as detailed below,
• your ETP Rollover Statement,
• completed and signed forms for existing policy withdrawals/termination,
• your bank account or cash management account details, and
• signed and dated application forms, including your Tax File Number.
5. Cheques should be crossed ‘Not Negotiable’ and made out as directed in the
Product Disclosure Document or disclosure document. To assist you further, I have
set out in the table below your recommended investments and life insurance
policies, with their respective cheque payees.
Investment Payee Amount
($)
ASGARD eWRAP Investment ASGARD eWRAP Investment $654,020
(Genevieve Mary Roberson)
ASGARD eWRAP Super ASGARD eWRAP Super Account $155,980
Authority to Proceed
15 Lantana Court
CARNEGIE VIC 3214
I/We acknowledge that the investments listed in the table below are to be invested in
my/our names.
Investment Amount
ASGARD eWRAP Investment $654,020
ASGARD eWRAP Super $155,980
Client Declaration
I/We confirm having received a Mortgage & General Financial Services Pty Ltd ‘Financial
Services Guide’ (FSG) including the Mortgage & General Financial Services Pty Ltd
‘Privacy Statement’ which I/we have read.
I/We have read, understood and retained a copy of the ‘Statement of Advice’ (SoA)
prepared by Sample Adviser dated 22/12/2010. I/We was/were given the opportunity to
consider the advice provided and ask questions.
I/We confirm that the SoA contains information that accurately summarises my/our
current situation, investments and my/our financial objectives. I/We have provided to you
all necessary information to prepare your advice and understand the advice is based on
the information I/we provided. I/We understand that if I/we provide incomplete or
inaccurate information I/we risk making a financial commitment that may not be
appropriate to my/our needs.
Page 29 of 34
I/We have read and understood the Disclosure section of the SoA, which outlines the fees,
commissions and notes that all recommendations are solely based on current
interpretations of applicable laws and regulations.
I/We acknowledge that we have received a current Product Disclosure Document for each
product recommended and have read it and understood them.
•
•
•
I/We understand that the value of the recommended investment/s may rise and fall in line
with market conditions and that projected returns (where used) are only used as an
estimate based on historical data and no guarantee is given as to future performance.
Where advice has been provided to terminate the whole or part of a product I/we
understand the benefits lost and or charges incurred.
I/We understand that this SoA is solely for the use of the client(s) to whom it is addressed
and Mortgage & General Financial Services Pty Ltd does not accept any liability
whatsoever to third parties who use or rely on the whole or any part of the content.
I/We hereby authorise Sample Adviser to proceed with the implementation of the SoA and
the recommendations made within it.
I/We hereby request Sample Adviser to provide the services detailed in the Ongoing
Advice and Review Section of the SoA. I/We understand that ongoing services other than
those defined in this section are provided at the discretion of Sample Adviser.
Signatories
Individual Authority: Genevieve Mary Individual Authority: «APF:Client 2 Given
Roberson Name» «APF:Client 2 Surname»
Signature Signature
/ / / /
Date Date
Accepted for and on behalf of Mortgage
& General Financial Services Pty Ltd by
Sample Adviser
Signature
/ /
Date
Authorised Representative of
Mortgage & General Financial Services
Pty Ltd
Australian Financial Services Licence
Page 30 of 34
Holder
Reference Material
The following reference material has been included:
• Master Funds and ASGARD
• Age Pension
• Allocated Pensions
• Annuities
• Baby Bonus (Refundable Tax Offset)
• The Blended Portfolio
• Capital Gains Tax
• Additional CGT Concessions for Small Businesses
• Compensation Preclusion Period
• Death Benefit ETP
• Deeming
• Disability Support Pension
• Discretionary Trusts
• Dividend Imputation
• Dollar Cost Averaging
• Eligible Termination Payments (ETPs)
• Estate Planning
• ASGARD eWRAP
• Family Tax Benefits Parts A and B
• Gifting
• Historical Investment Returns
• Income Maintenance Period
• Liquid Assets Waiting Period
• Listed Investments
• Advantages of Managed Investments
• Types of Managed Investments
• Mortgage Trusts
• Negative Gearing
• Dealing with Negative Returns
• Newstart Allowance
• Investing Overseas
• Partner Allowance
• Personal Risk Management
Page 31 of 34
• Property Securities
• Reasonable Benefits Limits
• Redundancy and Early Retirement Payments
• Risk and Reward
• Self-Managed Superannuation Funds
• Share Trusts
• Spouse Superannuation Contributions
• Investing in Superannuation
• Superannuation Contributions Surcharge
• Tax Deductions for Superannuation Contributions
• Investing into Superannuation for a Child Under 18
• Who Can Contribute to Superannuation?
• Who Gets Your Superannuation When You Die?
• Superannuation Pensions
• Tax on Children's Income
• Termination Payments Surcharge
• Undeducted Contributions
• Investing in Unit Trusts
The following appendices or additional information has also been given to you:
• High Growth flyer
•
Master Funds and ASGARD
What is a master fund?

A master fund is a service that allows you to establish a diversified and flexible portfolio
of investments within a single administration facility. In the past, many investors
constructed portfolios of retail managed funds and found that they suffered problems,
including:
• receiving too many statements and various reports from each investment,
• fund manager performance and tax reports were only provided at the individual
investment level, which made it difficult to obtain an overview of the total
portfolio,
• altering the portfolio was an expensive and time-consuming exercise.
A master fund is designed to overcome these problems by providing an efficient portfolio
establishment and administration service. It also provides you with consolidated
performance and tax reports on your total portfolio.
Are there different types of master fund?

Master funds are available in many different forms. In broad terms, however, they can be
split into three main types:
Page 32 of 34
1. Fund of Funds
With this type of master fund, you and your financial adviser choose the type of
investment (for example, capital stable, managed or growth portfolios). The operator of
the master fund chooses the investment managers and looks after the paperwork.
2. Discretionary
With this type of master fund, you and your financial adviser choose from a ‘menu’ of
wholesale investments offered by the master fund operator. Each investment is usually
offered by a reputable fund manager. After you have selected the investments, the
master fund operator then looks after the paperwork.
3. Comprehensive
Some master funds now provide both ‘fund of funds’ and ‘discretionary’ options. These
provide you and your financial adviser with a range of options in constructing your
investment portfolio. Master funds are available for investment of both superannuation
and non-superannuation money. You can use a master fund to contribute to
superannuation, to roll over benefits received from other funds or to pay you a regular
income stream, such as an allocated pension. Alternatively, you can use a master fund to
simplify your investments in unit trusts.
Why use a master fund?

Master funds offer you a wide range of benefits including:
• consolidated reporting for ease of investment monitoring,
• simplified and consolidated tax reporting to promote better tax planning,
• access to lower-cost wholesale fund management,
• improved monitoring of superannuation requirements, such as Reasonable Benefit
Limits and preserved superannuation benefits,
• simple and low cost investment switching, and
• regular income received at pre-determined intervals from one source, greatly
simplifying financial planning and cash flow management.
How do I invest in a master fund?

All master funds issue Product Disclosure Documents. These documents will outline the
fund’s investment options and it will contain an application form. When you wish to invest
in a master fund, your financial adviser will help you to complete the application form and
a document detailing your investment selections. These documents and your cheque are
then sent to the master fund’s administration. Your member account is then opened and
your money is invested in accordance with your instructions. On a regular basis you will
then receive consolidated reports on your investment portfolio including detailed
transaction statements and investment valuations.
About the ASGARD Superannuation Account

The ASGARD Superannuation Account is designed to allow individuals to accumulate
savings for their retirement in a tax-advantaged environment. Earnings within the
superannuation environment are taxed at a maximum of 15 percent compared with
investing outside superannuation where you will be taxed at your marginal tax rate which
is often a higher rate. The 15 percent rate may be offset by imputation credits and
building depreciation/allowances that the fund receives from investments as well as tax
deductible expenses. The ASGARD Superannuation Account allows you to invest in a tax
effective environment with capital growth.
The ASGARD Superannuation Account is part of a complying superannuation fund and
provides access to a diverse range of investments including managed funds, cash, shares
and listed property from which you can construct your own individual portfolio.
Page 33 of 34
Through ASGARD you have access to a range of wholesale managed investments – with
lower investment manager charges than retail managed investments – which are
generally not available to retail investors. ASGARD has also negotiated rebates on the
fees charged by some investment managers and these are passed on to you in full (net of
GST).
Page 34 of 34

Statement of Advice Prepared For Ms Genevieve Mary Roberson: XXXXX

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Statement of Advice prepared for Ms Genevieve Mary Roberson

ABN 41 005 845 778

Ms Genevieve Mary Roberson

Ms Genevieve Mary Roberson

GOALS AND OBJECTIVES...............................................................................................................................................5

ANNUAL CASH FLOW.................................................................................................................................................18

INITIAL FEES AND BROKERAGE....................................................................................................................................24

ONGOING ADVICE AND REVIEW SERVICE..............................................................................................28

ADVISORY SERVICES AND FREQUENCY..........................................................................................................................28

MASTER FUNDS AND ASGARD.................................................................................................................................32

Goals and Objectives

Strategy and Recommendations

Source A Source B Source C

As a result of my recommendation to contribute on an ongoing basis, I will receive $XX

PERSONAL DETAILS GENEVIEVE MARY

Date of birth 4 December 1952

NAME AGE LAST BIRTHDAY AGE DEPENDENCY CEASES

Assets and Liabilities

Total of Liabilities Nil

Income and Expenses

Estimated Funds Required

Retirement Plans Estimated Income per Retirement Age

Attitude to Investing and Risk

Your Risk Profile

High Growth Risk Profile

Property Equity International Equity Australian

Source of Funds Amount Recommended Application Amount

Investment Owner Investment Employ Salary Deduc Spous Unded

Detailed Recommendations and Strategy

Reasons for Recommendations

Alternative Strategies Considered

Diversification Over Investment Market Sectors

Your capital for investment

Inves tment into the Service

Income or Consolidated reporting

ASGARD Master Trust

Investment into each Fund or Shares

Income from each Fund or Share

Managed Managed Managed Shares

Investments Status Amount Owner Reinve Est (%) Est (%)

• No guarantee of investment performance or rates of return on either capital or

Recommended Asset Allocation

Sector Actual Target Variance

Annual Cash Flow

Year One Taxable Income by Client

The following is a graphical representation of the above illustration.

Projected Portfolio Value

• If the recommendation is accepted, «APF:Referral Name» will receive X.X percent

Initial Fees and Brokerage

• Dollar amounts are rounded up to the nearest dollar.

Ongoing Contributions Disclosure

Ongoing Fees and Brokerage

Wsale (0.33%) (0.36%) (0.49%) (1.95%)

Ongoing Contributions Disclosure

Explanation of MER and GST

Management Expense Ratio (MER)

Goods and Services Tax (GST)

Ongoing Advice and Review Service

Advisory Services and Frequency

Fees and Charges

Client's Obligations and Responsibilities

Master Funds and ASGARD