Below is an overview of a standard bachelor\u2019s program in financial planning. The titles of the
core financial planning courses are shown in bold. \n
\n- Microeconomics \u2013 the basics of supply and demand; the market economy; elasticity; the foundation of consumer demand; the theory of the business firm and costs of production; the market structures of perfect competition, monopoly, oligopoly, and monopolistic competition; theories of labor unions and wages; antitrust policy; and the microeconomic view of international business
\n- Macroeconomics \u2013 the schools of economic thought and international economics; the methodology, concepts, and terminology of macroeconomics, including principles, theories, and tools; banking, money, the Federal Reserve System, and monetary theory; macroeconomic problems such as inflation, unemployment, economic growth, and globalization
\n- Introduction to Statistics \u2013 collecting, analyzing, presenting, and interpreting data; descriptive and inferential statistical methods applied to problem solving and decision making; analysis of real-world data sets using statistical software
\n- Accounting Foundations \u2013 introduction to accounting principles emphasizing the operation of a business as a sole proprietorship; the complete accounting cycle for merchandising and service entities; partnership accounting; the application of computer technology to accounting processes
\n- Microcomputer Applications: Spreadsheets \u2013 creating and manipulating spreadsheets with Microsoft Excel to solve business applications; advanced features including data validation, linked workbooks, pivot tables, lookup functions, solver, and scenario manager
\n- Professional Ethics \u2013 social and professional situations, especially in the fields of business, law, and technology; ethical theory and examination of ethical dilemmas
\n- The Business Systems Cycle \u2013 the five phases of the systems development life cycle: system planning, systems analysis, system design, system implementation, and system operation and support; how many typical business needs are incorporated into a business system, including invoicing, accounts receivable, order entry, inventory, accounts payable, payroll, manufacturing, and sales and marketing
\n- Corporate Finance \u2013 the fundamental principles of corporate finance: company analysis, the term structure of interest rates, the relationship between risk and return, time value of money principles, security analysis, cost of capital and capital structure, and capital budgeting techniques
\n- Principles of Project Management \u2013 project definition, resource planning, project scheduling, and project control; planning and scheduling with limited resources; using project management software
\n- Business Law Foundations \u2013 the fundamental principles of business law; the legal system, dispute resolution, government regulation torts, and crimes affecting business, contracts, sales, and agency
\n- Management Foundations \u2013 the four universal functions of management: planning, organizing, leading, and controlling
\n- Marketing Foundations \u2013 learning and application of the strategies, tactics, and terminology used by market-oriented businesses; market segmentation, product, pricing, marketing communication, research, and marketing channel strategies
\n- Federal Taxation I \u2013 an explanation of the federal tax structure, application of tax principles as they pertain to individuals; introduction to taxation for businesses, federal tax laws and regulations, taxation theory, and tax research and planning techniques
\n- Investment Planning \u2013 an introduction to investment fundamentals: risk and return, investment information sources, market indexes, analysis of the economy, industry and companies, and investments in stocks, bonds, and mutual funds; an introduction to international investing and active versus passive investment strategies
\n- Money and Banking: Treasury Management Focus \u2013 a study of the US banking system and how the government and the Federal Reserve Board influence bank operations and US monetary policy
\n- Financial Analysis for Business Managers \u2013 the practical interpretation of financial statements
\n- International Finance \u2013 the flow of funds, exchange rate determination and forecasting, management of economics, and the financing of international trade; the international monetary system, foreign exchange trading, and the problems that occur in international markets
\n- Portfolio Management \u2013 advanced study of portfolio construction, management, and protection; topics include setting portfolio objectives, formulating an investment strategy, portfolio monitoring and revision, and evaluating portfolio performance
\n- Financial Plan Development \u2013 students conduct case studies and participate in field experiences to apply their knowledge of financial planning topics
\n- Federal Taxation II \u2013 continued study of federal taxation, focusing on business taxation for partnerships, corporations, and limited liability companies; payroll taxes, estate and gift taxes
\n- Behavioral Finance \u2013 the effect of psychology on the behavior of people in the financial field, such as portfolio managers, financial planners, investors, brokers, etc.; the forces \u2013 such as greed, hope, and fear \u2013 that determine risk-taking behavior in the field of investing; the effect of human reactions on important aspects of market behavior and price movements; the effect of investors\u2019 biased reactions to public announcements about securities; the effect of perceptions of risk and return on portfolio management and security selection
\n- Financial Planning and Insurance \u2013 financial planning and wealth-creation techniques for individuals; evaluating and establishing financial goals of individuals; tax considerations, fringe benefits, investment techniques, insurance, and retirement and estate planning; risk management and various types of insurance including life, health, disability, long-term care, property, and liability; regulatory, ethical, and legal issues
\n- Retirement Plan / Employee Benefits \u2013 the principles of retirement planning: defined contribution plans and defined benefit plans for the private sector, retirement plans for non-profit and government entities; retirement plan design
\n- Estate Planning \u2013 the estate planning process and its goals, the methods of estate transfer at death as well as during life; taxi issues that arise with estate planning
\n
\n
Master\u2019s Degree in Financial Planning \u2013 One to Two Year Duration
\nMaster\u2019s programs in financial planning are rare. Graduate students are more likely to pursue a master\u2019s in finance. The financial planning master\u2019s programs that do exist tend to be aimed at practising financial planners who wish to enhance their skills, often for the purpose of pursuing the Certified Financial Planner (CFP) credential. As noted above, the best bachelor\u2019s programs are also designed to prepare students to sit for the CFP exam. The master\u2019s option, however, offers a shorter route to CFP eligibility for candidates with experience in the field.
\n
Financial planning master\u2019s programs may also offer targeted training to obtain advanced designations, including the:
\n
\n- Chartered Retirement Planning Counselor (CRPC)
\n- Chartered Retirement Plans Specialist (CRPS)
\n- Accredited Wealth Management Advisor (AWMA)
\n- Accredited Portfolio Management Advisor (APMA)
\n- Chartered Sustainable, Responsible, and Impact Investing Counselor (CSRIC)
\n
", "display_order": 2, "created_at": "2019-10-01T11:36:16.713426-07:00", "updated_at": "2022-02-24T11:11:50.989131-08:00"}, {"degree_id": 1449, "page": 1, "title": "Degrees Similar to Financial Planning", "summary_markdown": "**[Actuarial Science](/degrees/actuarial-science-degree/)** \r\nThis degree program provides students with in-depth training in mathematics, statistics, and probability. It teaches the use of models in analyzing and solving financial problems and includes coursework in economics, finance, accounting, and computer science. \r\n\r\n**[Economics](/degrees/economics-degree/)** \r\nEconomics asks wide questions about world economies, how governments should respond to financial crises, how stock prices and exchange rates are set, and how to help people living in poverty. The degree field is focused on how to use the concepts and theories of economics to study and solve real-world problems. \r\n\r\n**[Entrepreneurship](/degrees/entrepreneurship-degree/)** \r\nEntrepreneurship students learn how to build, promote, and manage their own or others\u2019 businesses. Common classes are entrepreneurial finance, foundations of entrepreneurship, investor relations and funding, new product design and development, and business plans. \r\n\r\n**[Finance](/degrees/finance-degree/)** \r\nIn very simple terms, the finance field is about helping businesses, organizations, and individuals make money. Degree programs in finance, therefore, teach students about investing, financial and estate planning, risk management, interest rates, insurance, and taxes. Their objective is to produce graduates who are ready to help both commercial and retail clients reach their short- and long- term financial goals. \r\n\r\n**[Insurance](/degrees/insurance-degree/)** \r\nDegree programs in insurance prepare students to work as insurance underwriters, the professionals who issue insurance policies. Students of the field learn how to consider individual circumstances and decide which policies to offer to potential clients.", "content_markdown": "", "content_html": "
Actuarial Science
\nThis degree program provides students with in-depth training in mathematics, statistics, and probability. It teaches the use of models in analyzing and solving financial problems and includes coursework in economics, finance, accounting, and computer science.
\n
Economics
\nEconomics asks wide questions about world economies, how governments should respond to financial crises, how stock prices and exchange rates are set, and how to help people living in poverty. The degree field is focused on how to use the concepts and theories of economics to study and solve real-world problems.
\n
Entrepreneurship
\nEntrepreneurship students learn how to build, promote, and manage their own or others\u2019 businesses. Common classes are entrepreneurial finance, foundations of entrepreneurship, investor relations and funding, new product design and development, and business plans.
\n
Finance
\nIn very simple terms, the finance field is about helping businesses, organizations, and individuals make money. Degree programs in finance, therefore, teach students about investing, financial and estate planning, risk management, interest rates, insurance, and taxes. Their objective is to produce graduates who are ready to help both commercial and retail clients reach their short- and long- term financial goals.
\n
Insurance
\nDegree programs in insurance prepare students to work as insurance underwriters, the professionals who issue insurance policies. Students of the field learn how to consider individual circumstances and decide which policies to offer to potential clients.
", "display_order": 3, "created_at": "2019-10-01T11:36:16.714559-07:00", "updated_at": "2021-11-18T13:55:46.094844-08:00"}, {"degree_id": 1449, "page": 1, "title": "Skills You’ll Learn", "summary_markdown": "- Analytical skills \u2013 analyzing economic trends, regulatory changes, risk, and client risk tolerance \r\n- Comfort with using IT software \u2013 using financial planning systems and software is an integral part of the job \r\n- Communication skills \u2013 strong oral and written communication skills and the ability to explain complex ideas and industry jargon in simple terms are key \r\n- Entrepreneurship \u2013 this skill is vital for financial planners opening their own business \r\n- Interpersonal skills \u2013 relationship building and trust building \r\n- Market awareness and ongoing learning \u2013 financial planners must stay on top of developments and trends in order to properly advise their clients \r\n- Math skills \u2013 financial planning requires understanding numbers, gains, and losses \r\n- Organization and attention to detail \u2013 these skills are vital to avoiding potentially costly mistakes \r\n- Passion \u2013 the best financial planners are passionate about helping others grow their wealth \r\n- Sales / persuasion skills \u2013 financial planners are essentially sellers of both their skills and investments \r\n- Stress management \u2013 managing clients\u2019 financial portfolios involves helping them make life impacting decisions \r\n- Using models, charts, and graphs to present findings", "content_markdown": "", "content_html": "", "display_order": 4, "created_at": "2019-10-01T11:36:16.715683-07:00", "updated_at": "2022-02-24T11:09:34.871522-08:00"}, {"degree_id": 1449, "page": 1, "title": "What Can You Do with a Financial Planning Degree?", "summary_markdown": "Financial planning graduates find jobs at banks, credit unions, investment firms, insurance companies, and in independent practice. According to the US Bureau of Labor Statistics, these are the largest sectors (in descending order) in which financial advisors and planners work: \r\n\r\n- Securities, commodity contracts, and other financial investments and related activities \r\n- Self-employment / private practice \r\n- Credit intermediation and related activities \r\n- Insurance carriers and related activities \r\n- Management of companies and enterprises \r\n\r\nIn their roles, financial planners may choose to focus on one or more of these areas of financial planning: \r\n\r\n- Cash flow management \r\n- Risk management \r\n- Investment planning \r\n- Tax planning strategies \r\n- Retirement planning \r\n- Estate planning", "content_markdown": "Common, related titles in the industry include: \r\n\r\n- Broker \r\n- [Budget Analyst](//www.chevelle-parts.com/careers/budget-analyst/) \r\n- College / [University Professor](//www.chevelle-parts.com/careers/professor/) \r\n- Commodities Sales Agent \r\n- [Credit Counselor](//www.chevelle-parts.com/careers/credit-counselor/) \r\n- Employee Benefits Manager \r\n- Financial Counselor \r\n- Financial Planner \r\n- Financial Services Sales Agent \r\n- Insurance Sales Agent \r\n- [Loan Officer](//www.chevelle-parts.com/careers/loan-officer/) \r\n- Personal Banker \r\n- Personal [Financial Advisor](//www.chevelle-parts.com/careers/financial-advisor/) / Planner \r\n- [Securities Trader](//www.chevelle-parts.com/careers/stock-trader/) \r\n- Wealth Manager", "content_html": "
Common, related titles in the industry include:
\n
", "display_order": 5, "created_at": "2019-10-01T11:36:16.716802-07:00", "updated_at": "2022-02-24T11:15:41.099855-08:00"}], "degree_specializations": []}">
