In a financial services organization, a case manager is tasked with overseeing a client\'s investment portfolio. The client has expressed concerns about the risk associated with their current asset allocation, which is 70% equities and 30% bonds. The case manager decides to conduct a risk assessment and recommends adjusting the allocation to 50% equities and 50% bonds. If the expected return on equities is 8% and on bonds is 4%, calculate the expected return of the portfolio before and after the adjustment. What is the percentage change in the expected return as a result of this adjustment?