COURSE SYLLABUS & OUTLINE Survey of Personal Financial Planning, Spring, 2016

Transcription

1 Department of Business & Management COURSE SYLLABUS & OUTLINE Survey of Personal Financial Planning, Spring, 2016 Course Title: Course Number: Quarter: Instructors: Survey of Personal Financial Planning Spring, 2016 Todd S. Davidson Owner, Davidson Financial Planning 2790 Skypark Drive, Suite 200 Torrance, CA, Phone: (310) Kim Bright Owner, Bright Financial Planning 2790 Skypark Drive, Suite 200 Torrance, CA Phone: (310) Meeting Times And Location: Office Hours: Tuesdays 6:30 9:30 p.m. UCLA, 167 Dodd Hall March 29 June 14, 2016 By Appointment

2 Course Description: This course introduces the profession of personal financial planning, emphasizing the identification and quantification of financial objectives and the interrelated facets of a wide range of technical and personal financial planning material. The introductory course is intended for individuals who wish to become practitioners in financial planning, those considering a career transition, and for professionals currently in the financial services industry seeking to advance their careers--bankers, insurance and security brokers, investment and financial advisors, real estate professionals, CPAs, trust officers, and attorneys. Topics include qualitative and quantitative methods used in the financial planning decision-making process. Principles of income taxation, investment analysis and procedure, insurance, employment benefit plans, estate planning, cash-flow management, ethics, strategies, and processes of professional practice are covered.

3 Goals & Objectives: This course is designed for persons who wish to explore the possibilities of a career in Financial Planning or wish to improve their overall knowledge of planning their own financial objectives. The field of Financial Planning grows increasingly complex. This course analyzes the wide variety of financial tools and concepts that the planner may consider while developing a financial plan: 1. The Data Questionnaire 2. Methods of Protecting Current Assets A. Property and Casualty Insurance B. Life Insurance C. Disability Insurance and Long Term Care D. Health Insurance 3. Short & Long Term Objectives 4. Essentials of Budgeting 5. Investments A. Common Stocks B. Exchange Traded Funds C. Bonds D. Mutual Funds E. Tax-Favored Plans F. Real Estate and Hard Assets 6. Income Tax Planning 7. Retirement Planning A. IRA s B. Small Business Plans (SEP, SIMPLE, Keogh) C. 401(k) D. Pension Plans E. Government Programs 8. Estate Planning A. Wills B. Trusts C. Irrevocable Life Insurance Trusts 9. Planning and the Legal Environment The last phase of the program concentrates on combining many of the above tools into a financial plan that enables clients to achieve their financial goals.

4 Required Readings: Course Text: A. Personal Financial Planning, Theory and Practice, 8 th Edition (2014) Michael A. Dalton James F. Dalton Kaplan Financial B. THE WEALTHY BARBER David Chilton Prima Publishing C. LOS ANGELES TIMES, BUSINESS SECTION (or equivalent newspaper) Note: Textbooks can be obtained at the LaValle Bookstore on campus, or at various on-line sites that carry textbooks. Recommended Readings: 1. ONE UP ON WALL STREET, Peter Lynch Available in paperback. Great 1 st basic Discussion of investments and the techniques that made the Fidelity Magellan Mutual Fund a winner. 2. LIARS POKER, Michael Lewis, W.W. Norton Also available in paperback. Interesting discussion of the Bond Markets. Entertaining and educational. 3. KIPLINGER S PERSONAL FINANCE MAGAZINE, Monthly 4. MONEY MAGAZINE, Time-Life, Monthly 5. FORBES MAGAZINE, Monthly 6. GETTING STARTED AS A FINANCIAL PLANNER, Jeffrey Rattiner 7. COMMON SENSE ON MUTUAL FUNDS, John Bogle 8. WINNING THE LOSER S GAME, Charles Ellis 9. SO YOU WANT TO BE A FINANCIAL PLANNER, Nancy Langdon Jones

5 Grading: Course grades will be based on participation and completion of assignments as follows: There will be one outside assignment that will count for 30% of the total grade. This will be completed by the 9 th week of class. It will be submitted as a typewritten analytical report and will be graded on the basis of content, presentation, clarity and grammar. It will be limited to 2 pages. Font size must be 10 or larger. Students are expected to work independently on this assignment. Students will loose ½ grade for each week the assignment is late. There will be 6 quizzes given throughout the quarter. Each will cover the reading materials for that week, or the prior week. The quizzes are closed book. Each quiz will be approximately 20 questions. Your lowest quiz grade will not count. The total points from these quizzes will be added together and count for 30% of the course grade. There will be no make-ups on the quizzes. In addition, a final examination will be given at the last class session. The final will be worth 40% of the total course grade. It will be open book and essay in nature. The details will consist of developing a financial plan from a set of facts. This must be written in a Blue Book that is available at the University Bookstores. A student who gets a total of: points will receive an A points will receive a B points will receive a C points will receive a D Below 65 points will Fail. Please note that ALL COURSE GRADES ARE FINAL. Incompletes: The interim grade Incomplete may be assigned when a student's work is of passing quality, but a small portion of the course requirements is incomplete for good cause (e.g. illness or other serious problem). It is the student s responsibility to discuss with the instructor the possibility of receiving an I grade as opposed to a non-passing grade. The student is entitled to replace this grade by a passing grade and to receive unit credit provided they complete the remaining coursework satisfactorily, under the supervision of and in a time frame determined by the instructor in charge, but in no case later than the end of the next academic quarter. At that time, the Registrar will cause all remaining Incompletes to lapse to the grade "F". Note: Receiving an I does not entitle a student to retake all or any part of the course at a later date Student Behavior involving cheating, copying other s work and plagiarism will not be tolerated and will result in disciplinary action. Students are responsible for being familiar with the information on Student Conduct in the General Information Section of the UCLA Extension Catalog or on the website at

6 COURSE OUTLINE, Spring, 2016, 8 th Edition: Kaplan/Dalton* Date/Topic Learning Goals Readings Topic Knowledge List for CFP Certification Examination Week 1 Personal Financial Planning Environment The Role of the Financial Planner Week 2 The Personal Financial Planning Process Cash Management Week 3 Risk Management Health, Homeowner s, Auto, and Liability Insurance Understand comprehensive financial planning; the concepts of external and internal environments, and business cycles; client communications and how life cycle affects financial planning Understand the preparation and analysis of personal financial statements; the financial planning process Understand different types of risk and methods of managing that risk; how to manage personal property and excess liability risk Dalton Ch 1 Dalton Ch2 (pgs 17-25, 28- end) Dalton Ch3 Dalton Ch 4 Dalton Ch5 Dalton Ch 8 Dalton Ch 10 A6, B8, B14, B15 B10, B16 Quiz 1, Ch 1, 2, 3 Week 4 Asset Protection Life, Disability, Health Insurance Quiz 2, Ch 4, 5, 8, 10 Week 5 Retirement Planning Understand how to manage life, health, and disability risks; how Social Security and other social insurances affect financial planning Understand how retirement planning plays a major role in financial planning Dalton Ch 9 (pgs , 323-end) Dalton Ch 11 (pgs , 451 end) Dalton Ch 15 (pgs ) Dalton Ch 16 Week 6 Tax Planning Education Planning Quiz 3, Ch 9, 11 Week 7 Investment Planning Quiz 4, Ch 7, 13, 14 Week 8 Investment Planning (continued) Distribute Assignment Understand how individual income taxation and tax planning fit into the financial planning concept; the various business entities available to clients; various aspects of education funding Understand how investment concepts fit into the financial planning process Dalton Ch 13 Dalton Ch 14 Dalton Ch 7 Dalton Ch 12 (pgs , , 522, , ) Dalton Ch 12 (pgs , , 575, 577, , C18, C19

7 Week 9 Estate Planning Quiz 5, Ch 12 Week 10 Practice Management Ethical Considerations Assignment Due Week 11 Financial Independence Case Studies Quiz 6, Ch 15, 16, 17 Week 12 FINAL EXAM Understand how estate planning is utilized throughout the client s life cycle Understand the practice of financial planning; ethical responsibilities and how they relate to the financial planning practice Understand how a set of client facts can be analyzed in terms of a financial plan Dalton Ch 17 Dalton Ch 18 Dalton Ch 19 Appendix A, #4 Blue Book Required A1, A2, A3 * Course Syllabus and Outline subject to change

8 Personal Financial Planning Program Entry Questionnaire, Spring, Name: Student # (if known) 2. Address: Business Name: Phone: Home: Phone: 3. Educational Background: School: Degree 4. Business/Work Background: 5. What kind of one-on-one client consulting or sales exposure and/or experience do you have? 6. Financial Planning Background. A. What is it about financial planning that excites you? B. What is it about financial planning that worries or scares you? C. What about financial planning do you know now already? [i.e., classes or training programs have you had in the insurance, investment, banking, estate or financial planning areas. List any professional designations or licenses.] D. In what area of financial planning do you feel you have the greatest strengths? Greatest weaknesses? E. What brought you, specifically, to the UCLA Program? 7. If we were sitting in class on the last day and you were telling me that the class was a phenomenal and practical experience for you, describe how the course would have unfolded to have made it a phenomenal and practical experience. 8. Are you taking courses for personal knowledge or in preparation for taking the CFP examination or for CPE (MCLE, etc.)? 9. If you are going to take the CFP examination, when do you expect that you might sit for the exam? 10. If you are seeking the CFP Designation have you reviewed the work experience and candidate fitness standards for the CFP Designation? 11. Will your coursework be subsidized by your employer yourself scholarship or other?