Professional Financial Planning Certificate Program

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  • 1. Professional Financial Planning Certificate 2 0 0 9 - 2 010 P r o f e s s i o n a l C e r t i f i C at e P r o g r a m The Program M any Americans are now responsible for their own financial future and are looking to professional advisers for assistance. The public is looking for a planner who has demonstrated a commitment to competency, and financial professionals want an established certification that sets them apart in a globally expanding financial planning profession. There are an estimated 300,000 “financial planners” in the U.S., but only 59,000 have demonstrated the broad-based competency to provide financial planning services and adhere to a fiduciary standard of care that allows them to call themselves Certified Financial Planner™ professionals. As a Certified Financial Planner™ practitioner, you can energize or revitalize your career, whether as an entrepreneur or in a large firm, by leveraging the knowledge and prestige associated with the world’s most recognized financial planning certification. UCSB EXTENSION www.extension.ucsb.edu (805) 893-4200 inforequest@els.ucsb.edu
  • 2. Professional Financial Planning The Professional Financial Planning Certificate Program meets the have five years from the date their first course ends to complete the Certified Financial Planner Board of Standards, Inc. educational program. requirements to qualify for the CFP® Certification Examination. The program educates and trains individuals to analyze and provide Program PrereqUisiTes advice on all areas of financial planning including investment For those interested in completing the certificate program, it management, income taxation, insurance/risk management, employee is recommended that, in addition to professional studies in benefits, retirement, and estate planning. communication, humanities, and social sciences, students have proficiency in college algebra, be able to perform financial and CFP® CerTiFiCaTion statistical analysis, and have a good working knowledge of the HP The UCSB Extension Professional Financial Planning Certificate 12C calculator (especially as it pertains to finance) — that will be program fulfills the educational component of the Certified covered in Principles of Financial Analysis — prior to enrolling in Financial Planner™ certification. Candidates for certification must have Portfolio and Investment Management. a bachelor’s degree, in any discipline, from a regionally-accredited U.S. reCommenDeD CoUrse seqUenCe college or university, in order to attain CFP® certification. It is recommended that students begin with Principles of Professional UCSB Extension does not certify individuals to use the CFP®, Practice and Principles of Financial Analysis, followed by the remaining CERTIFIED FINANCIAL PLANNER™, and CFP ® marks. courses as they are sequentially offered. Refer to the planned course Certification is granted solely by Certified Financial Planner Board schedule for recommended sequence of classes. Individual courses of Standards Inc. to individuals who, in addition to completing an are open to non-certificate students who wish to study a education requirement such as this CFP Board-Registered Program, specific subject area, as long as course prerequesites are met. have met ethics, experience, and examination requirements. CoUrse FormaTs/loCaTions For information on becoming a CFP™ certificant, contact the Certified UCSB Extension offers the necessary courses to fulfill both the Financial Planner Board of Standards, Inc. at: (800) 487-1497; required and elective course requirements using local qualified fax (202) 379-2299; Web site www.cfp.net; e-mail initialcert@ professionals to provide the instruction. cfpboard.org. Courses typically meet three hours per night, one night per week, with UPComing CFP® CerTiFiCaTion occasional Saturday classes, for ten to twelve week sessions and are examinaTion DaTes: scheduled during fall, winter, spring, and summer quarters. Courses November 20-21, 2009 (Application Deadline: 10/6/09) are held in both Santa Barbara and Ventura. March 19-20, 2010 (Application Deadline: 2/3/10) CoUrse CreDiT objeCTives / beneFiTs As the continuing education division of the University of California at > Provide substantive training in a full range of financial subjects Santa Barbara, UCSB Extension is fully accredited by the Western > Prepare individuals to take advantage of the broad spectrum of Association of Schools and Colleges (WASC). All courses in the opportunities to become a financial planner program are approved for professional-level, post-graduate credit. > Enable participants to effectively decipher and discuss the This type of credit is typically recognized by government and industry complex nature of financial planning options with clients for full or partial tuition funding or reimbursement. Course units and/or > Provide the core course subjects required for those seeking the CEU values are listed with the course descriptions. professional CFP® Designation TransFer CreDiT who will beneFiT From This Program Transfer credit is limited to 8 quarter units. Proposed transfer courses > If you are interested in being part of a profession that helps taken at other schools must be comparable in content and length to people gain control over their lives and their futures the UCSB Extension equivalent and must have been taken from an > If you are a big picture thinker and a good listener accredited college or university within the last five years. To determine > If you are looking for a career filled with opportunities and whether courses taken at other schools will qualify, send a copy of the challenges course title and description and the dates the course was taken along with the UCSB Extension course title equivalent(s) to the certificate CerTiFiCaTe reqUiremenTs advisor. The advisor will inform students whether the coursework is Completion of 30 units: 8 required courses. Candidates for the transferable. To activate the formal transfer of credit, students must certificate must complete all required and elective courses with letter have filed their Application for Candidacy in the certificate program grades of “C” or better. Most students take two to three years to and must request the school previously attended to send an official complete the program; however, you may proceed at your own pace transcript to the certificate advisor. depending on how many courses are available each quarter. Students aPPlying For CanDiDaCy UCSB EXTENSION www.extension.ucsb.edu (805) 893-4200 inforequest@els.ucsb.edu (page 2)
  • 3. Professional Financial Planning To be accepted as a candidate in a certificate program, students must first submit the Application for Candidacy Form in this brochure and PROFESSIONAL FINANCIAL PLANNING 2009-10 certificate program course schedule a one-time, nonrefundable filing fee of $50 if the application is filed before completion of the third course or $100 if filed after completion required courses (30 units total) units fall Wtr. spr. sum. of the third course. Students are urged to file their Application for Principles of Professional Practice 3 ● ▲ Candidacy anytime before completing their third course. Students Principles of Financial Analysis 3 ● ▲ Risk Management 4 ▲ ● will be expected to fulfill program requirements in place at the Portfolio and Investment time candidacy is filed. Students will automatically be notified of Management 4 ▲ ● acceptance once the application and filing fee are received. Allow four Retirement Planning 4 ● ▲ to six weeks for applications to be processed. Acceptance letters are Estate Planning 4 ● ▲ mailed upon acceptance into the program. Tax Analysis 4 ▲ ● Professional Financial Planning Certificate candidates must notify the UCSB Extension certificate Practicum 4 ▲ ● advisor by phoning (805) 893-3816 or by e-mailing certificates@els. ▲ UCSB ● Ventura ucsb.edu when they receive the grade card for their final course. Once This matrix lists courses we plan to offer during the time indicated and is your final grade is received and your records are checked to verify that subject to change. Additional courses may be offered; see current catalog. you have met all program requirements, your certificate is processed and mailed to you. Duplicate certificates are available if requested in insTrUCTors writing. There is a $22 charge for each duplicate certificate. The instructors who teach in this program are practicing professionals from the community. They are chosen for their personal commitment, esTimaTeD Program CosT academic background, teaching ability, and professional expertise. We The total cost of the Professional Financial Planning Certificate provide students with the opportunity to comment on our instructors, Program is determined by the number of units required to complete our program, and our customer service at the end of each class. We the entire curriculum and the actual courses taken, particularly in the welcome any comments that would assist us in improving the quality area of elective courses where tuition fees can vary greatly. Individual of instruction in our program. course fees are listed in the current UCSB Extension catalog and on the Web site. For planning purposes, an overall tuition cost has been DisabiliTy serviCes estimated at $3,420. This figure is for course tuition fees only and Students who need assistance are asked to refer to the current does not include the costs of textbooks and/or materials. This cost UCSB Extension catalog (General Information section under figure is an estimate only and is subject to change without notice. Disability Services) or www.extension.ucsb.edu/student/disability/ for information on available services and required procedures. Requests TUiTion reimbUrsemenT to meet with the representative received later than two weeks Most UCSB Extension courses and certificate programs qualify for before instruction begins may limit our ability to provide you with the employer-paid tuition reimbursement. Be sure to check with your requested services in time for the first class. For further information, employer about any employee assistance programs that you may be call 893-3444. eligible to receive. CerTiFiCaTe aDvisor TexTbooks/CoUrse maTerials For questions concerning program requirements, course substitutions Most credit courses require a textbook. Textbook costs range from and transfer credit, status of Application for Candidacy, or issuance of $30 to $150 per course and are not included in course fees unless certificates, please contact the certificate advisor at (805) 893-3816 or stated in the catalog. It is the responsibility of the student to determine e-mail certificates@els.ucsb.edu. if a book is required or recommended prior to the first class by contacting MBS Direct and supplying the Reg number of the class. Please refer to the current UCSB Extension catalog or Web site for Books lists are usually available through MBS Direct between three any significant changes that may affect this program. Continuance of and four weeks prior to the beginning of the class. individual courses usually requires a minimum number of enrollments. UCSB Extension is supported entirely by course fees. It is recommended that students make every effort to have their books by the first class session. Various shipping options are available, with reqUireD CoUrses the cost generally increasing with service and speed required. (8 courses, 30 units total, all courses required) MBS Direct contact information: Phone: (800) 325-3252 Internet: http://bookstore.mbsdirect.net/ucsbext.htm Principles of Professional Practice ECON X425.1 (3 units) This course provides a basic introduction to the business practices that are essential for financial planning. Topics include: UCSB EXTENSION www.extension.ucsb.edu (805) 893-4200 inforequest@els.ucsb.edu (page 3)
  • 4. Professional Financial Planning > Survey of the five components of financial planning: invest- > Insurance policy selection ments, tax planning, retirement planning, estate planning, and > Insurance company selection and due diligence insurance > Employee benefit plans > Purpose, benefits, components and responsibilities of a finan- cial planner > Social Security, Medicare, and incapacity planning > Introduction to CFP Board’s Code of Ethics Financial Planning Prerequisite: Principles of Professional Practice or Principles of Finan- Practice Standards cial Analysis > Ethics > Budgeting Portfolio and Investment Management ECON X425.4 (4 units) > Emergency fund planning Examine different investment vehicles for financial planners > Credit and debt management participating in securities markets, and discover sources of information > Function, purpose, and regulation of financial institutions about the various instruments traded and trading procedures. Topics > Client attitudes and behavioral characteristics include: > Educational funding > Types and use of investment vehicles > Financial planning for special circumstances > Types of investment risk > Characteristics and consequences of types of entities and > Measures of investment risk and returns property titling > Time-influences security valuation concepts > Financial services industry regulation requirements > Bond and stock valuation methods > Business law > Portfolio management and measurement concepts > Monetary settlement planning > Formula investing Principles of Financial Analysis > Investment strategies ECON X425.2 (3 units) > Asset allocation and portfolio diversification Basic analytic tools and mathematical techniques used in professional > Efficient Market Theory financial planning are introduced along with the economic concepts > Asset pricing models underlying the them. Topics include: > Leverage of investment assets > Personal financial statements > Hedging and option strategies > Credit and debt management > Tax efficient investing > Buying vs. leasing > Investment strategies in tax-advantaged accounts > Economic concepts > Taxation of investment vehicles > Time value of money concepts and calculations Prerequisite: Principles of Financial Analysis is required and > Quantitative analysis Principles of Professional Practice is highly recommended Prerequisite: Principles of Professional Practice recommended Retirement Planning ECON X425.5 (4 units) Risk Management Students survey the various plans that are available to financial ECON X425.3 (4 units) planners for providing retirement benefits and other investment- An analysis of fundamental insurance practices and principles of risk oriented employment benefits to business and employees. Topics management as they apply to financial planning. Topics include: include: > Principles of insurance > Retirement needs analysis > Analysis and evaluation of risk exposures > Employee stock options > Legal aspects of insurance > Stock plans > Property and casualty insurance > Non-qualified deferred compensation > General business liability > Employer/employee insurance arrangements > Health insurance > Types of retirement plans > Disability income insurance > Qualified plan rules and options > Long-term care insurance > Other tax-advantaged retirement plans > Life insurance > Regulatory considerations > Viatical settlements > Plan selection for businesses > Insurance needs analysis and rationale > Investment considerations for retirement plans > Taxation of life, disability, and long-term care insurance UCSB EXTENSION www.extension.ucsb.edu (805) 893-4200 inforequest@els.ucsb.edu (page 4)
  • 5. Professional Financial Planning > Distribution rules, alternatives, and taxation planning practice. They also review key issues on ethics, marketing, fee setting, and staff development. Topics include: Prerequisite: Principles of Professional Practice or Principles of Finan- cial Analysis > Preparing a financial plan for a client > Studying and writing case studies Estate Planning ECON X413 (4 units) > Reviewing principles for running and marketing a practice An in-depth study of the tax and other considerations that constitute > Handling regulatory issues, licensing, and credentials an effective estate plan. Topics include tax planning, probate, wills > Analyzing modern portfolio theory and will substitutes, the unlimited marital deduction, trust and trust taxation, holding title to property, lifetime gifts, use of life insurance in > Developing a business plan estate planning, intra-family transactions, generation-skipping transfer Prerequisite: Completion of all required courses in the Professional tax, taxes affecting business interests, post-death considerations, and Financial Planning Certificate Program an analysis of recent tax law. Prerequisite: Principles of Professional Practice or Principles of Finan- also oF inTeresT cial Analysis The HP Calculator for the Financial Professional The Hewlett Packard HP 12c financial calculator is the standard Tax Analysis industry tool that allows quick and accurate financial calculations. In ECON X425.7 (4 units) this workshop, students explore the financial business calculations This course is designed to enable financial planner to recognize many that make financial planning easier. The course offers hands-on of the income tax planning opportunities and dilemmas, and to focus experience with common problems like simple and compound on the interrelation of the more common income tax rules, regulations, interest, general annuities, present and future value, annual interest and planning techniques applicable to individuals, tax shelters, and rate, bond valuation, and cash flow analysis. corporations. Topics include: > Tax implication of employee stock options This course is of interest to those in business, finance, and real estate, > Income tax law fundamentals and should be taken by financial planners before taking Principles of > Tax compliance Financial Analysis. It is of particular interest to those who plan to sit for > Income tax fundamentals and calculations the CFP® exam. > Tax accounting methods Prerequisite: An HP-12C calculator with owner’s manual, and a basic > Tax characteristics of entities knowledge of the financial concepts covered in this course > Basis > Income tax law fundamentals > Cost-recovery concepts > Tax compliance > Tax consequences of like-kind exchanges > Income tax fundamentals and calculations > Tax consequences of gain or loss on sales of assets > Tax accounting methods > Alternative Minimum Tax > Tax characteristics of entities > Tax management techniques > Passive activity and at-risk rules > Basis > Tax implications of changing circumstances > Cost-recovery concepts > Charitable contributions and deductions > Tax consequences of like-kind exchanges > Income in respect of a decedent > Tax consequences of gain or loss on sales of assets Prerequisite: Principles of Professional Practice or Principles of Finan- > Alternative Minimum Tax cial Analysis > Tax management techniques > Passive activity and at-risk rules > Tax implications of changing circumstances Professional Financial Planning Practicum > Charitable contributions and deductions ECON X425.8 (4 units) The professional practicalities and client-based concerns of > Income in respect of a decedent establishing and running a financial planning practice are examined. Prerequisite: Principles of Professional Practice or Principles of Finan- Students draw upon their previous financial planning training to cial Analysis analyze case studies, prepare for the CFP™ Certification Examination, and explore the business procedures necessary to manage a financial UCSB EXTENSION www.extension.ucsb.edu (805) 893-4200 inforequest@els.ucsb.edu (page 5)
  • 6. Professional Financial Planning for office use oNlY Certificate Program Certificate Code: Application for Candidacy _______ CFP (ProFinPlan) OBJ=CA Date Paid ________________ This application signifies my intention of pursuing the prescribed course of study toward the Professional Financial Planning Certificate Program. Initials ___________________ ❐ YES I possess a Bachelor’s Degree. Print your name as desired on certificate: NoNrefuNdable applicatioN fee: ❐ Ms. ❐ $50 before completion of the 3rd course ❐ Mr. ❐ $100 after completion of the 3rd course ❐ Check enclosed payable to: Name Regents of the University of California ❐ Charge my MasterCard Home Address ❐ Charge my VISA City State Zip account Number For your security and protection, UCSB Extension requires you to verify your credit card security Social Security Number Fax code for enrollment. Employer credit card cVV security code Enter the 3-digit code that appears on the back of your credit card. Positio Daytime Phone E-mail Address expiration date Please e-mail me information about upcoming programs. ❐ Yes ❐ No On a separate sheet, list courses you have completed or are currently taking that are part of cardholder’s Name this program. Exactly as it appears on card. web-FP 8/09 (L564) Mail: UCSB Extension (Attn: SSO) • 1110 Kerr Hall, UCSB, Santa Barbara, CA 93106-1110 UCSB EXTENSION www.extension.ucsb.edu (805) 893-4200 inforequest@els.ucsb.edu (page 6)