1. Assignment 1 (20%, Individual, word limit of 1,500 words +/- 10%) Priscilla Cher is a senior wealth manager who works for UBS Singapore for the past 8 years. She earns about S$180,000 per year, is single, owns a Mercedes CLX (open top) which her father gave her for her 21st birthday, and lives in a high-end rented apartment off Holland Village. 17 Priscilla owes S$45,000 in four platinum credit card accounts which have increased gradually over the last few years. She is sick of paying high interest and never having any ‘spare cash’ to get ahead. Priscilla has SUHD 55-inch Smart TV, 3 Macbooks, 2 IPad-Minis, 2 Iphones, 15 pairs of Prada shoes, eats out all nights and enjoys regular Friday nights out with her friends. The Friday night dinners (usually for 4) are accompanied by expensive red wines and usually cost about an average of $1,000. Priscilla often ‘flashes her platinum card’ to pay for them. The Mercedes car ‘drinks’ petrol like ‘drinking water’ i.e. consumes lots of petrol and Priscilla seldom goes outside the city area of Singapore as most of her clients are within the business district where she works. Priscilla became more concerned about her less than comfortable financial position when an old friend from the university days bought a private apartment for cash in a nearby area where she stays. Her friend had come from a poor family and had been working the same length of time, so Priscilla decided it must really be possible to save and get ahead of her own life including owning her own dream private apartment. You are now engaged as Wealth Manager assigned to handle Priscilla's situation. The list of questions, that will serve as guidelines for your report write-up, are as follow: a. Perform a Know-Your-Client (using the HCF Model) as one of the key financial planning process to identify Priscilla’s situation. b. Using Behavioural Finance concept, identify Priscilla's behavioural traits that could impact on her future investment decisions. c. Advise Priscilla on how she should change her lifestyle to build her net assets as well as construct her present income and expense statement plus balance sheet. d. What would be a suitable investment portfolio for Priscilla to meet her goals and tax issues? You are required to provide your explanation/reasons to support your recommendation of a suitable investment portfolio?