Module I - Introduction to Financial Planning
Module II - Risk Analysis & Insurance Planning
Module III - Retirement Planning & Employees
Module IV - Investment Planning
Module V - Tax Planning & Estate Planning
Module VI - Advanced Financial Planning
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Introduction to Financial Planning (Examination Exempted)
This module would serve as an introduction to financial planning. The module would cover the six-step process which includes financial planning process, client interactions, time value of money applications, personal financial statements, cash flow and debt management, asset acquisition, education planning, overview of risk management investment planning and retirement planning, special circumstances, plan integration, ethics, and business aspects of financial planning.
At the end of this module, a student should be able to: 1. To implement the financial planning process, while following the AFP Board's Financial Planning Practise Standards and Code of Ethics and Professional Responsibility.2. Understand the economic, social, political, and technological environment and be able to determine how financial plans should accommodate those environments.3. Understand the potential goals a client may have, help them enunciate their goals and evaluate strategies to help clients achieve their goals. 4. Understand basic investment topics (including investment types, risk and return, diversification, passive versus active management) and specific investment strategies necessary to allow clients a mechanism to achieve realistic goals.5. To structure and choose the optimal business format for the delivery of financial planning services for services for specific for specific target client markets.
Risk Analysis and Insurance Planning
This module would cover the knowledge requirements relating to insurance and risk management for a CFPCM certification. It introduces students to risk management and insurance decisions in personal financial planning. Planning for clients' exposures to mortality, health, disability, property, liability, and long term care risk is emphasized.
At the end of this module, a student should be able to: 1. Understand the role of the financial planner in the personal risk management process. 2. Implement insurance into a comprehensive, integrated financial plan. 3. Identify and explain features of private and public insurance available to meet each identified need. 4. Integrate the tax implications into insurance decisions. 5. Evaluate client insurance and risk management needs.
Retirement Planning and Employee Benefits
This module would cover the knowledge requirements relating to retirement planning and employee benefits for a CFPCM professional. The emphasis is on the process of wealth creation and the retirement planning and strategies for clients.
1. Understand the importance of retirement planning for the pre-retirement accumulation period and the actual retirement when the
funds are used.2. Demonstrate the ability to provide a client with an evaluation of retirement needs. 3. Determine legal and tax
requirements for a retirement plan to be considered qualified for income tax purposes. 4. Explain types of defined contribution and
defined benefits qualified plans.5.Compare personal savings plans used in the retirement planning process.
This module includes introduction to Investment Planning, Investment vehicles, investment strategies, Regulation of an investment advisor, Application to clients, etc.
At the end of this module, a student should be able to: 1. Understand the importance of investment planning in the financial planning process, ethical issues for advisors, regulation of advisors. 2. Understand the choice of investment products in terms of their risk-return characteristics. 3. Evaluate investment choices in the context of client's financial planning needs.4. Understand how client investment portfolios are created, monitored and rebalanced based on their objectives and needs. 5. Recommend a portfolio of investment products.
Tax & Estate Planning
This module would cover the knowledge requirements relating to tax planning and estate planning for a CFPCM professional.
At the end of this module, a student should be able to: 1. Evaluate the appropriateness of tax strategies for individual family situations.2. Integrate tax planning into the six step financial planning process. 3. To understand the universal nature of estate planning needs.4. To recognize the high level of ignorance regarding estate planning among the general population as well as students.5. To comprehend the fundamental objective of greater efficiency in wealth transfer.
Advanced Financial Planning
This module builds upon the foundations in financial planning and the knowledge requirements in Modules 2 to 5 to enable the CFPCMprofessional to construct a comprehensive financial plan for a client. Miscellaneous topics are also covered in this module.
At the end of this module, a student should be able to: 1. Determining the client's financial status by analyzing and evaluating the client's information.2. Developing and preparing a client-specific financial plan tailored to meet the goals and objectives of client, commensurate with client's value, temperament, and risk tolerance.3. Implement and monitor the financial plan.