PROFESSIONAL FINANCIAL PLANNING

                                      CERTIFICATE PROGRAM • 2006-07


                   ...
OBJECTIVES / BENEFITS                                                     Courses typically meet three hours per night, on...
FINANCIAL ASSISTANCE                                                       This brochure is revised quarterly. Please refe...
RISK MANAGEMENT                                                             RETIREMENT PLANNING
ECON X425.3 (4 units)
    ...
PROFESSIONAL PRACTICUM                                                              ALSO OF INTEREST
ECON X425.8 (4 units)...
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Professional Financial Planning Certificate

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Professional Financial Planning Certificate

  1. 1. PROFESSIONAL FINANCIAL PLANNING CERTIFICATE PROGRAM • 2006-07 THE PROGRAM PROFESSIONAL C E R T I F I C AT E The number and complexity of today’s investment and money management options has led to P R O G R A M the need for professional financial advisors and individuals responsible for preserving wealth to continually update their knowledge of the broad range of financial instruments available. Whereas insurance agents, real estate agents, stockbrokers, accountants, and tax attorneys Recommended Prerequisite typically focus on one area of an individual’s financial picture the generalist financial planner The HP Calculator for the Financial takes a broad-based approach, recognizing the interdependence of various investment vehicles. Professional The Professional Financial Planning Certificate Program meets the Certified Financial Planner Required Courses Board of Standards, Inc. educational requirements to qualify for the CFP® Certification Principles of Professional Practice Examination. The program educates and trains individuals to analyze and provide advice on all Principles of Financial Analysis areas of financial planning including investment management, income taxation, insurance/risk Risk Management management, employee benefits, retirement, and estate planning. Portfolio and Investment Management Retirement Planning CFP® CERTIFICATION Estate Planning Tax Analysis The UCSB Extension Professional Financial Planning Certificate program fulfills the educational Professional Practicum component of the Certified Financial Planner™ certification. Beginning in 2007, candidates for certification must have a bachelor’s degree, in any discipline, in order to obtain CFP® certifica­ tion. Individuals not planning on obtaining a bachelor’s degree must complete the entire certifica­ tion process, including the education, examination, experience, and ethics requirement by Other Related Certificate January 2007. Candidates for CFP® certification should allow time for any possible retakes of the Programs Offered at UCSB Extension CFP® Certification Examination, as well as adequate time to complete the rest of the certification Accounting process by this date. Paralegal UCSB Extension does not certify individuals to use the CFP®, CERTIFIED FINANCIAL Project Management PLANNER™, and CFP ® marks. Certification is granted solely by Certified Financial Planner Board of Standards Inc. to individuals who, in addition to completing an education requirement such as this CFP Board-Registered Program, have met ethics, experience, and examination requirements. For information on becoming a CFP™ certificant, contact the Certified Financial Planner Board of Standards, Inc. at: (800) 487-1497; fax (303) 860-7388; Web site www.cfp-board.org. Upcoming CFP® Certification Examination Dates: November 17-18, 2006 (Application Date: October 4, 2006) March 16-17, 2007 (Application Date: January 31, 2007) For the latest UCSB Extension catalog that includes current course schedule, location, and fee information, please phone, fax, e-mail, or visit our Web site (see below). 8/06 Phone: (805) 893-4200 • Fax: (805) 893-8427 • E-mail: inforequest@els.ucsb.edu • www.extension.ucsb.edu
  2. 2. OBJECTIVES / BENEFITS Courses typically meet three hours per night, one night per week • Provide substantive training in a full range of financial subjects for twelve week sessions and are scheduled during fall, winter, • Prepare individuals to take advantage of the broad spectrum of spring, and summer quarters. Courses are held in both Santa opportunities to become a financial planner Barbara and Ventura. • Enable participants to effectively decipher and discuss the com­ plex nature of financial planning options with clients COURSE CREDIT • Provide the core course subjects required for those seeking the As the continuing education division of the University of professional CFP® Designation California at Santa Barbara, UCSB Extension is fully accredited by the Western Association of Schools and Colleges (WASC). All INTENDED AUDIENCE courses in the program are approved for professional-level, • Investment specialists including banking, insurance, real estate, post-graduate credit. This type of credit is typically recognized by and securities government and industry for full or partial tuition funding or • Trust officers reimbursement. Course units and/or CEU values are listed with • Estate Planners the course descriptions. • Lawyers • Accountants/CPAs TRANSFER CREDIT • Retirement specialists Transfer credit is limited to 8 quarter units. Proposed transfer • Managers of corporate investment and retirement planning courses taken at other schools must be comparable in content and programs length to the UCSB Extension equivalent and must have been • Individuals who meet the prerequisites and who wish to study taken from an accredited college or university within the last five specific subjects without pursuing the certificate years. To determine whether courses taken at other schools will qualify, send a copy of the course title and description and the CERTIFICATE REQUIREMENTS dates the course was taken along with the UCSB Extension course Completion of 30 units: 8 required courses. Candidates for the title equivalent(s) to the certificate advisor. The advisor will inform certificate must complete all required and elective courses with students whether the coursework is transferable. To activate the letter grades of “C” or better. Most students take two to three years formal transfer of credit, students must have filed their to complete the program; however, you may proceed at your own Application for Candidacy in the certificate program and must pace depending on how many courses are available each quarter. request the school previously attended to send an official tran­ Students have five years from the date their first course ends to script to the certificate advisor. complete the program. Students have five years to complete the requirements for the APPLYING FOR CANDIDACY Professional Financial Planning Certificate Program. Program To be accepted as a candidate in a certificate program, students requirements begin on either the beginning date of the first must first submit the Application for Candidacy Form in this applicable course or on the date the Application for Candidacy brochure and a one-time, nonrefundable filing fee of $50 if the was approved, whichever comes first. The program ends when application is filed before completion of the third course or $100 a student’s last requirement is fulfilled. Upon written request, if filed after completion of the third course. Students are urged to exceptions will be considered on an individual basis file their Application for Candidacy anytime before completing (certificates@els.ucsb.edu). their third course. Students will be expected to fulfill program requirements in place at the time candidacy is filed. Students will PROGRAM PREREQUISITES automatically be notified of acceptance once the application and All certificate courses are open to individual enrollment. For those filing fee are received. Allow four weeks for applications to be interested in completing the certificate program, it is recommend­ processed. ed that, in addition to professional studies in communication, Certificate candidates must notify the UCSB Extension certificate humanities, and social sciences, students have proficiency in col­ advisor by e-mailing certificates@els.ucsb.edu or by phoning lege algebra, be able to perform financial and statistical analysis, (805) 893-3816 when they receive their grade for the final course. and have a good working knowledge of the HP 12C calculator Once your final grade is received and your records are checked to (especially as it pertains to finance) prior to enrolling in Principles verify that you have met all program requirements, your certificate of Financial Analysis. will be processed and mailed to you. Duplicate certificates are available if requested in writing. There is a $22 charge for each RECOMMENDED COURSE SEQUENCE duplicate certificate. It is recommended that students begin with Principles of Professional Practice or Principles of Financial Analysis, followed by ESTIMATED PROGRAM COST the remaining courses as they are sequentially offered. Refer to the The total cost of the Professional Financial Planning Certificate planned course schedule for recommended sequence of classes. Program is determined by the number of units required to com­ Individual courses are open to non-certificate students who wish plete the entire curriculum and the actual courses taken, particu­ to study a specific subject area. larly in the area of elective courses where tuition fees can vary greatly. Individual course fees are listed in the current UCSB COURSE FORMATS/LOCATIONS Extension catalog and on the Web site. For planning purposes, an UCSB Extension offers the necessary courses to fulfill both the overall tuition cost has been estimated at $3,300. This figure is for required and elective course requirements using local qualified course tuition fees only and does not include the costs of text­ professionals to provide the instruction. books and/or materials. This cost figure is an estimate only and is subject to change without notice.
  3. 3. FINANCIAL ASSISTANCE This brochure is revised quarterly. Please refer to the current UCSB UCSB Extension courses and certificate programs qualify for Extension catalog or Web site for any significant changes that may several forms of financial assistance: affect this program. Continuance of individual courses usually requires a minimum number of enrollments. UCSB Extension is • The Lifelong Learning Loan Program (LLLP) supported entirely by course fees. Students who are accepted candidates in UCSB Extension certifi­ cate programs containing 140 or more hours of instruction (14 units) may apply for a low-cost LLLP through Santa Barbara PROFESSIONAL FINANCIAL PLANNING 2006-07 CERTIFICATE PROGRAM COURSE SCHEDULE Bank & Trust. If your annual income is under $42,800 and you reside in Santa Barbara County, $54,800 and you reside in Ventura Required Courses (30 units total) Units Fall Winter Spring Summer Principles of Professional Practice 3 ● ▲ ● ▲ County, or $38,400 and you reside in San Luis Obispo County, Principles of Financial Analysis 3 ▲ ● you may qualify for a loan of up to $10,000 a year with an Risk Management 4 extended payback period. Full details and the loan application Portfolio and Investment Management 4 ▲ ● are available for downloading on the UCSB Extension Web site: Retirement Planning 4 ● ▲ www.extension.ucsb.edu; or call (805) 893-4200 to request an Estate Planning 4 ● ▲ application. Tax Analysis 4 ▲ ● Professional Practicum 4 ▲ ● • Most UCSB Extension courses and certificate programs qualify Also of Interest (not required for cert.) for employer-paid tuition reimbursement. Be sure to check with The HP Calculator for the your employer about any employee assistance programs that you Financial Professional ● ▲ Goleta ● Ventura may be eligible to receive. ON Online This matrix lists courses we plan to offer during the time indicated and is TEXTBOOKS/COURSE MATERIALS subject to change. Additional courses may be offered—see current catalog. Most credit courses require a textbook. Textbook costs range from $30 to $150 per course and are not included in course fees unless stated in the catalog. It is the responsibility of the student to deter­ mine if a book is required or recommended prior to the first class REQUIRED COURSES by contacting MBS Direct and supplying the Reg number of the (9 courses, 34 units total, all courses required) class. Books lists are usually available through MBS Direct between three and four weeks prior to the beginning of the class. It is rec­ PRINCIPLES OF PROFESSIONAL PRACTICE ommended that students make every effort to have their books by ECON X425.1 (3 units) the first class session. Various shipping options are available, with This course provides a basic introduction to the business practices the cost generally increasing with service and speed required. that are essential for financial planning. Topics include: MBS Direct contact information: Phone: (800) 325-3252 • Survey of the five components of financial planning: invest­ Internet: http://direct.mbsbooks.com/ucsbext.htm ments, tax planning, retirement planning, estate planning, and insurance INSTRUCTORS • Purpose, benefits, components and responsibilities of a financial The instructors who teach in this program are practicing profes­ planner sionals from the community. They are chosen for their personal • Introduction to CFP Board’s Code of Ethics Financial Planning commitment, academic background, teaching ability, and profes­ Practice Standards sional expertise. We provide students with the opportunity to com­ • Budgeting ment on our instructors, our program, and our customer service at • Emergency fund planning the end of each class. We welcome any comments that would • Credit and debt management assist us in improving the quality of instruction in our program. • Function, purpose, and regulation of financial institutions • Client attitudes and behavioral characteristics DISABILITY SERVICES • Educational funding Students who need assistance are asked to refer to the current • Financial planning for special circumstances UCSB Extension catalog (General Information section under • Characteristics and consequences of types of entities and Disability Services) or www.extension.ucsb.edu/student/disability/ property titling for information on available services and required procedures. • Financial services industry regulation requirements Requests for services must be made at least two weeks before any • Business law instruction begins. For further information, call 893-5874. • Monetary settlement planning CERTIFICATE ADVISOR PRINCIPLES OF FINANCIAL ANALYSIS For questions concerning program requirements, course substitu­ ECON X425.2 (3 units) tions and transfer credit, status of Application for Candidacy, or Basic analytic tools and mathematical techniques used in profes­ issuance of certificates, please contact the certificate advisor at sional financial planning are introduced along with the economic (805) 893-3816 or e-mail certificates@els.ucsb.edu. concepts underlying the them. Topics include: • Personal financial statements • Credit and debt management • Buying vs. leasing • Economic concepts • Time value of money concepts and calculations • Quantitative analysis
  4. 4. RISK MANAGEMENT RETIREMENT PLANNING ECON X425.3 (4 units) ECON X425.5 (4 units) An analysis of fundamental insurance practices and principles of Students survey the various plans that are available to financial risk management as they apply to financial planning. Topics planners for providing retirement benefits and other investment- include: oriented employment benefits to business and employees. Topics • Principles of insurance include: • Analysis and evaluation of risk exposures • Retirement needs analysis • Legal aspects of insurance • Employee stock options • Property and casualty insurance • Stock plans • General business liability • Non-qualified deferred compensation • Health insurance • Employer/employee insurance arrangements • Disability income insurance • Types of retirement plans • Long-term care insurance • Qualified plan rules and options • Life insurance • Other tax-advantaged retirement plans • Viatical settlements • Regulatory considerations • Insurance needs analysis and rationale • Plan selection for businesses • Taxation of life, disability, and long-term care insurance • Investment considerations for retirement plans • Insurance policy selection • Distribution rules, alternatives, and taxation • Insurance company selection and due diligence Prerequisite: Principles of Professional Practice or Principles of • Employee benefit plans Financial Analysis • Social Security, Medicare, and incapacity planning Prerequisite: Principles of Professional Practice or Principles of ESTATE PLANNING Financial Analysis ECON X413 (4 units) An in-depth study of the tax and other considerations that consti­ PORTFOLIO AND INVESTMENT MANAGEMENT tute an effective estate plan. Topics include tax planning, probate, ECON X425.4 (4 units) wills and will substitutes, the unlimited marital deduction, trust Examine different investment vehicles for financial planners par­ and trust taxation, holding title to property, lifetime gifts, use of ticipating in securities markets, and discover sources of informa­ life insurance in estate planning, intra-family transactions, genera­ tion about the various instruments traded and trading procedures. tion- skipping transfer tax, taxes affecting business interests, Topics include: post-death considerations, and an analysis of recent tax law. • Types and use of investment vehicles Prerequisite: Principles of Professional Practice or Principles of • Types of investment risk Financial Analysis • Measures of investment risk and returns • Time-influences security valuation concepts TAX ANALYSIS • Bond and stock valuation methods ECON X425.7 (4 units) • Portfolio management and measurement concepts This course is designed to enable financial planner to recognize • Formula investing many of the income tax planning opportunities and dilemmas, • Investment strategies and to focus on the interrelation of the more common income tax • Asset allocation and portfolio diversification rules, regulations, and planning techniques applicable to individu­ • Efficient Market Theory als, tax shelters, and corporations. Topics include: • Asset pricing models • Tax implication of employee stock options • Leverage of investment assets • Income tax law fundamentals • Hedging and option strategies • Tax compliance • Tax efficient investing • Income tax fundamentals and calculations • Investment strategies in tax-advantaged accounts • Tax accounting methods • Taxation of investment vehicles • Tax characteristics of entities Prerequisite: Principles of Professional Practice is required, Principles • Basis of Financial Analysis is highly recommended • Cost-recovery concepts • Tax consequences of like-kind exchanges • Tax consequences of gain or loss on sales of assets • Alternative Minimum Tax • Tax management techniques • Passive activity and at-risk rules • Tax implications of changing circumstances • Charitable contributions and deductions • Income in respect of a decedent Prerequisite: Principles of Professional Practice or Principles of Financial Analysis
  5. 5. PROFESSIONAL PRACTICUM ALSO OF INTEREST ECON X425.8 (4 units) The professional practicalities and client-based concerns of estab­ THE HP CALCULATOR FOR THE FINANCIAL PROFESSIONAL lishing and running a financial planning practice are examined. The Hewlett Packard HP 12c financial calculator is the standard Students draw upon their previous financial planning training to industry tool that allows quick and accurate financial calculations. analyze case studies, prepare for the CFP™ Certification In this workshop, students explore the financial business calcula­ Examination, and explore the business procedures necessary to tions that make financial planning easier. The course offers hands- manage a financial planning practice. They also review key issues on experience with common problems like simple and compound on ethics, marketing, fee setting, and staff development. Topics interest, general annuities, present and future value, annual inter­ include: est rate, bond valuation, and cash flow analysis. • Preparing a financial plan for a client • Studying and writing case studies This course is of interest to those in business, finance, and real • Reviewing principles for running and marketing a practice estate, and should be taken by financial planners before taking • Handling regulatory issues, licensing, and credentials Principles of Financial Analysis. It is of particular interest to those • Analyzing modern portfolio theory who plan to sit for the CFP® exam. • Developing a business plan Prerequisite: An HP-12C calculator with owner’s manual, and a Prerequisite: Completion of, or concurrent enrollment in, basic knowledge of the financial concepts covered in this course all required courses in the Professional Financial Planning Certificate Program UCSB EXTENSION FOR OFFICE USE ONLY Certificate Code: PROFESSIONAL FINANCIAL PLANNING CERTIFICATE PROGRAM _______ CFP(Pro Fin Plan) A P P L I C AT I O N F O R C A N D I D A C Y OBJ=CA Date Paid __________ This application signifies my intention of pursuing the prescribed course of study toward the Professional Financial Planning Certificate Program. Initials ____________ Print your name as desired on certificate: ❐ Ms. NON-REFUNDABLE APPLICATION FEE: ❐ Mr. ❐ $50 before completion of the third course __________________________________________________________________________________ ❐ $100 after completion of the Name third course ❐ Check enclosed payable to: __________________________________________________________________________________ Regents of the University of California ❐ Charge my MasterCard Home Address __________________________________________________________________________________ ❐ Charge my VISA City ___________________________________ Account Number __________________________________________________________________________________ For your security and protection, UCSB Extension requires you State, Zip to verify your credit card security code for enrollment. Credit Card CVV Security Code: __________________________________________________________________________________ ___________________________ Social Security Number Fax Enter the 3-digit code that appears on the back of your credit card in the space provided. __________________________________________________________________________________ _________________________________________ Employer Expiration Date __________________________________________________________________________________ Position _________________________________________ Cardholder’s Name __________________________________________________________________________________ Daytime Phone E-mail Address Mail: UCSB Extension, Attn: SSO Please e-mail me information about upcoming programs. ❐ Yes ❐ No 6950 Hollister Ave., Suite 102 On a separate sheet, list courses you have completed or are currently taking that are part of this program. Goleta, CA 93117-5824 Fax: (805) 893-8427 web-FP 8/06 (K254)

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