The accelerated CFP® program consists of six planning modules, followed by a case study initiative that results in a comprehensive financial plan:
Fundamentals of Financial Planning and Ethics—This course provides a foundation for understanding the financial planning process. The steps in the financial planning process are presented, including financial statement preparation and analysis. The legal, ethical and regulatory issues affecting financial planners are discussed, as well as the Practice Standards and Code of Ethics by which CFP(r) professionals are guided. Students are also led through the maze of alternatives available for funding college educations. Finally, the use of the HP 12C financial calculator in solving hypothetical client scenarios, including time-value-of-money and uneven cash flow situations, is also covered. It is expected that students will complete the "Understanding the HP 12C Calculator" course prior to the first class meeting.
Insurance Planning and Risk Management—This course helps students identify the various types of financial risk and how to evaluate alternative strategies to lessen the impact of unplanned events. The analysis of client insurance needs and methods of determining the type and amount of insurance best suited to each client's situation is examined, incorporating discussions of life, property, liability, homeowner's and personal-auto insurance. Also covered are medical and disability insurance and long-term care policies.
Investment Planning—This course surveys the wide variety of investment vehicles that can be included in a client's investment portfolio, introducing risk-return criteria as a means of evaluating alternatives. An emphasis on the client is the overriding theme for the course, beginning with the client needs assessment as it relates to risk tolerance, return requirements and liquidity needs. Modern portfolio theory, risk management, market strategies, efficient market theory, and asset allocation and diversification are introduced.
Retirement Planning and Employee Benefits—This course covers all aspects of retirement planning and employee benefits, beginning with the presentation of tax-deferred retirement program options and the framework used to conduct a needs analysis for achieving retirement income goals. Key features of qualified retirement plan design are discussed, emphasizing the advantages and disadvantages of specific types of plans for the owners of small- to medium-sized businesses. Employee compensation has changed significantly in recent years, so it is essential that financial planners grasp how to coordinate employer-sponsored benefits within a plan.
Income Tax Planning—This course provides an overview of the federal income tax system, examining the income taxation of individuals, sole proprietorships, partnerships, LLCs and corporations. It focuses upon how financial planners advise clients about the most effective methods of maximizing wealth by reducing their tax burden through an examination of a variety of tax issues-including tax law, accounting methods, tax planning related to employee compensation, research and practitioner concerns, cost-recovery methods, consequences of like-kind exchanges and tax-advantaged investments.
Estate Planning—Planning and managing federal estate and gift taxation is one of the most overlooked yet critical elements of a financial plan. There are many facets to proper estate planning, and this course introduces all of the essential elements necessary for consideration by the financial planner. Charitable, intrafamilial, postmortem and business-transfer planning techniques that play an important part in estate planning are addressed, and additional focus is placed on the implications of gifts and bequests, including lifetime gifting and coordination of the unified credit with marital deduction.
Capstone Case Study Preparation—This workshop gives students the opportunity to synthesize the knowledge gained from the program's coursework through the study of client-specific cases. Through interactive lectures and an intensive study of these cases, students develop a fully integrated view of all financial planning elements. Also discussed are client and planner roles and the principles of communication and counseling. This course offers valued preparation for certification examination case questions.
