Module 1 | Module 2 | Module 3 | Module 4 | Module 5 | Capstone | Fees | Study Guides & Calculator | Register | 2013 Capstone Review
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Beginning in 2012 our program will be modified in order to meet the education requirements for CFP® certification which will include completion of a financial plan development course. This capstone course requirement has been designed to enhance the knowledge, skills and abilities of individuals seeking to attain CFP® certification and implement an assessment of their ability to deliver professional and competent financial planning services to the public.
Successful completion of this course will fulfill the educational requirements to sit for the CFP® Certification exam.
On average, 78% of students taking the CFP® Exam Preparation Course from UMSL pass the exam. This far exceeds the national pass rate of 53%, and places UMSL in the top tier of exam preparation programs in the country.
The CFP® certification is deemed gold-standard proof of expertise in the personal financial industry. As such, it sets stringent criteria for the practitioner with a 4-year degree wishing to distinguish him or herself from other financial professionals.
The initial requirements for certification are known as the four Es: examination, experience, ethics, and education. The CFP® Board requires all applicants who have met the other three Es to have completed both their bachelor's degree and an approved training program.
The University of Missouri–St. Louis has the much sought-after CERTIFIED FINANCIAL PLANNER™-Board of Standards, Inc. approval for this educational training and is the only university in St. Louis that has AACSB accreditation in both Business Administration and Accounting. Many financial practitioners are finding that our seasoned instructors, coupled with quality study material, enable them to complete the exam preparation in months rather than years.
Our team of course instructors carries credentials such as CFP, CPA, PhD, CEO, CLU, ChFC, AEP, JD, CLTC, RFC, CVA, and CFE, and has current, real-world expertise. Since the testing for CFP certification heavily relies on the practical application of case studies, having experienced instructors will give you an edge.
Using the curriculum of the College for Financial Planning, this course covers all topics that the Certified Financial Planner Board of Standards requires. If you have decided to differentiate yourself by becoming a CERTIFIED FINANCIAL PLANNER™ practitioner, spend 20 Saturdays with our knowledgeable instructors.
This structured plan of study led by seasoned professionals, coupled with your determination and discipline, will greatly increase your chances of success on the exam. Through March 2007, 78% of first-time test takers who followed the College's curriculum passed the exam for CFP® certification, as opposed to 64% of all other test takers. (College of Financial Planning)
This course is a prerequisite to success for those who want to differentiate themselves in the financial industry, such as accountants; CPAs; security industry regulators; financial consultants; HR professionals; insurance experts; financial planners; bankers; trust officers; investment specialists; tax professionals and strategists; insurance industry regulators; retirement planners; benefit authorities; attorneys; and other individuals who deal in trusts, estates, and other fiduciary matters.
Who should pursue a Chancellor's Certificate in Educational Requirements Training for CFP® Certification?
This course is a prerequisite to success for those who want to differentiate themselves in the financial industry, such as:
- Accountants Financial planners Retirement planners
- CPAs Bankers Benefit authorities
- Security industry regulators Trust officers Attorneys
- Financial consultants Investment specialists Other individuals who deal in trusts, estates, and other fiduciary matters.
- HR professionals Insurance industry advisors
- Insurance experts Tax professionals and strategists
Certified Financial Planner Board of Standards, Inc. owns the trademarks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with flame logo) certification marks in the U.S., which it awards to individual who successfully complete CFP Board's initial and ongoing certification requirements.
The University of Missouri-St. Louis does not certify individuals to use the CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with flame logo) certification marks. CFP® certification is granted solely by Certified Financial Planner Board of Standards, Inc. to individuals who, in addition to completing an educational requirement such as this CFP Board-Registered Program, have met ethics, experience and examination requirements.
Module 1
Financial Planning Process and Insurance
When: TBD
Fee: $1195
Register for This Module Only
Class: 8:30 AM-3:30 PM
The course begins with a presentation of the basics that form the foundation of knowledge you need as a working financial services professional. The financial planning process as well as the legal, ethical, and regulatory issues affecting financial planners, and time value of money concepts are covered. The course continues with a discussion of the principles of risk management and insurance, allowing you to identify a client's risk exposure and select appropriate risk management techniques.
Topics:
- Introduction to the Financial Planning Process
- Regulatory & Ethical Considerations for Financial Planners
- Introduction to the Time Value of Money
- Introduction to the Insurance Industry
- Introduction to Risk Management & Related Legal Issues
- Introduction to Life Insurance & Annuities
- The Life Insurance Selection Process
- Health Care Plans
- Disability Income & Long-Term Care Insurance
- Property & Liability Insurance
Module 2
Investment Planning
When: TBD
Fee: $1195
Register for This Module Only
Class: 8:30 AM-3:30 PM
In this course you'll learn about the wide variety of investment vehicles that may be included in a client's portfolio, as well as client assessment, tax considerations, economic factors, valuation methods, asset allocation techniques, portfolio performance evaluation, and more. Having the knowledge to choose the right investments is essential for implementing your clients' financial plans–and ensuring their confidence in you.
Topics:
- Security Markets
- Investment Risk & Return
- Modern Portfolio Theory
- Common Stock Valuation & Performance Measurement
- Security Analysis
- Features of Fixed Income Securities
- Valuation & Analysis of Fixed-Income Investments
- Derivatives
- Real Assets
- Mutual Funds & Foreign Investments
Module 3
Income Tax Planning
When: TBD
Fee: $1195
Register for This Module Only
Class: 8:30 AM-3:30 PM
Because taxes affect virtually every financial decision, having timely knowledge of tax laws and issues greatly enhances your effectiveness as a financial professional-and broadens your opportunities to do business. This course emphasizes the fundamentals of individual income taxation, the tax implications of various types of businesses, tax-advantaged investments, employee compensation issues and planning, alternative minimum tax, tax traps, and more.
Topics:
- Income Tax Concepts, Basic Terminology & Tax Calculations
- Tax Accounting & Forms of Business
- Income Tax Aspects of Property Acquisitions & Introduction to Property Dispositions
- Income Tax Aspects of the Disposition of Property
- Passive Activity Losses & Related Topics
- Income Tax Aspects of Securities
- Tax Planning for the Family
- Tax Law Research & Special Income Tax Considerations
Module 4
Retirement Planning and Employee Benefits
When: TBD
Fee: $1195
Register for This Module Only
Class: 8:30 a.m.-3:30 p.m.
With more and more Americans expressing concern about how they can be financially comfortable in retirement, it's crucial to your business that you know how to serve their needs in this area. This course covers all the major retirement-related issues: retirement savings need analysis, qualified retirement plan design, Social Security, Medicare, and more. In addition, group life, health, and disability insurance, nonqualified deferred compensation, and other commonly provided employee benefits are examined.
Topics:
- Planning for Retirement & Social Security
- Fundamentals of Defined Benefit Plans
- Fundamentals of Defined Contribution Plans
- Fundamentals of 401(k) Plans
- Traditional, Roth & SIMPLE IRAs
- 403(b) Plans & Other Plan Issues
- Retirement Plan Distributions & Plan Selection
- Deferred Compensation & Stock Plans
- Employee Group Benefits
Module 5
Estate Planning
When: TBD
Fee: $1195
Register for This Module Only
Class: 8:30 AM-3:30 PM
Estate planning is vital to a total financial plan, especially in your work with high-net-worth clients. This course introduces you to the process of developing an estate plan. Topics covered include federal estate and gift taxation, techniques that reduce the size of a gross estate, wills, intestacy, probate, trusts, and more.
Topics:
- Estate Planning Process & Goals
- Methods of Estate Transfer at Death
- The Federal Estate Tax
- The Federal Gift Tax
- Methods of Estate Transfer During Life
- Estate Planning Issues Related to Generation-Skipping Transfer Tax & Income Tax
- Estate Liquidity & Postmortem Actions
- Estate Planning for Special Situations: Incapacity, Family Arrangements & Selecting Fiduciaries
Capstone
Capstone Course – Financial Plan Development Course
When: TBD
Fee: $1195
Register for This Module Only
Beginning in 2012, the education requirements for CFP® certification will include completion of a financial plan development course registered with CFP Board. This capstone course requirement has been designed to enhance the knowledge, skills and abilities of individuals seeking to attain CFP® certification and implement an assessment of their ability to deliver professional and competent financial planning services to the public.
Class: 8:30 AM-3:30 PM
Who is required to take the capstone course?
All students of CFP Board-Registered Programs whose initial dates of matriculation (initial enrollment) occur on or after January 1, 2012 will be required to take the capstone course. Individuals who register to take the CFP® exam under "Challenge" status will be required to take the capstone course if their first sitting for the exam is March 2012 or later.
When should the capstone course be completed?
This course should be completed at the end of one’s program of study, as the course is designed to require integration and application of content across all financial planning subject areas.
How do I report completion of the capstone course?
When you complete an application for the March 2012 or later administrations of the CFP® Certification Examination, you will be asked to provide information about how you completed CFP Board’s education requirement, including completion of the capstone course, if applicable.
If I take the November 2011 exam and do not pass, will I need to take the capstone course before re-taking the exam?
No. Students who complete a CFP Board-Registered Program before November 2011, and those whose initial dates of matriculation (initial enrollment) in a CFP Board-Registered Program occur before January 1, 2012, will not need to take the capstone course in order to re-take the exam. Individuals who "challenge" the exam in November 2011 or earlier will not be required to take the capstone course in order to re-take the exam.
Source: http://www.cfp.net/become/education.asp
Fees
The program fee for all modules is $5395. You can also register for an individual module for $1195 each. Just go to each module section and click "Register for This Module Only." For information on group discounts, call (314) 516-6750.
The University reserves the right to cancel any program. In the event of cancellation, you will be notified immediately, and all program fees will be returned. If you must cancel the registration, you are entitled to a full refund only if you cancel two weeks prior to the first class. A $100 processing fee will be assessed for later cancellations up to the first class.
The cost of continuing education is deductible for federal income tax purposes under certain circumstances. Check with the IRS or your tax adviser.
Study Guides and Calculator
The University of Missouri–St. Louis uses CFP® Board approved study material. It is expected that you will have obtained all your study materials before the beginning of each module. A separate study guide package is available for each of the five modules of the course:
Study Guides
To order study guides from the College for Financial Planning:
- Call (800) 237-9990 and press 2 to activate Student Services ordering.
- Identify yourself as a UMSL/University of Missouri–St. Louis CFP student.
- By using Visa, MasterCard, American Express, or Discover, you assure next business day shipping.
- Unless otherwise instructed, all study materials will be shipped UPS ground, with anticipated delivery time being 4–5 business days. (Personal checks are also accepted, but must be processed before the shipment can be released.)
Calculator
The CFP Board of Standards has a list of allowable calculators that can be used when a student sits for the certification exam. The financial calculator that will be used for this course is the Hewlett-Packard HP-10BII. If you choose to use another calculator, you will be responsible for knowing how to replicate the functions as demonstrated in class.
Register
You have four ways to register:
- Online: Register online for UMSL's CFP® Exam Prep Cohort using a MasterCard, Visa, or Discover credit card. To register for all modules and receive the discounted price of $5395, click the "Register" icon to the right. To register for an individual module, go to each module section and click the "Register for This Module Only" link.
- Fax: Complete a Noncredit Registration Form and fax to (314) 516-6414.
- Mail: Complete a Noncredit Registration Form and mail to the address indicated.
- Call: (314) 516-6750 or TDD (314) 516-5961.
Make checks payable to the University of Missouri–St. Louis.
Capstone Review: Finance 3565 Seminar in Financial Planning
(For Credit or Noncredit ... Not Part of Exam Prep)
Course Objective
This course integrates material from the courses in the registered financial planning curriculum. Students will learn to analyze complex fact patterns and prepare and present comprehensive, professional-level personal financial plans. This course is required by the Certified Financial Planner™ Board of Standards for those who wish to sit for the CFP® examination. Upon completion of this course, you will be able to:
Demonstrate a comprehensive understanding of the content found within the Financial Planning curriculum and effectively apply and integrate this information in the formulation of a financial plan.
- Effectively communicate the financial plan, both orally and in writing, including information based on research, peer, colleague or simulated client interaction and/or results emanating from synthesis of material.
- Collect all necessary and relevant qualitative and quantitative information required to develop a financial plan.
- Analyze personal financial situations, evaluating clients’ objectives, needs, and values to develop an appropriate strategy within the financial plan.
- Demonstrate logic and reasoning to identify the strengths and weaknesses of various approaches to a specific problem.
- Evaluate the impact of economic, political, and regulatory issues with regard to the financial plan.
- Apply the CFP Board Financial Planning Practice Standards to the financial planning process.
Source: http://www.cfp.net/teamup/plandevelopmentcourse.asp#objectives
Credit Option Prerequisites
Successful completion of ACC 3441, FINANCE 3520, 3560, 3561, 3563, and 3564; permission of instructor
Schedule for Financial Plan Development Course (Capstone Course)
- 03/09/13 http://www.cfp.net/become/exam.aspOrientation and Financial Planning Process and Insurance Review
- 03/16/13 Investment Planning Review and Case
- 04/06/13 Income Tax Planning Review and Case
- 04/13/13 Retirement Planning and Employee Benefits Review and Case
- 04/27/13 Estate Planning Review and Case
- 05/11/13 Capstone Review and Case Presentations
Test Dates
The CFP® Certification Examination is scheduled to last 10 hours over a day and a half and is held three times a year, generally on the third Friday and Saturday of March, July and November. The exam consists of one four-hour session on Friday afternoon, and two three-hour sessions on Saturday. Exam locations are available in more than 50 locations around the U.S. Exact location sites are not secured until after the Application Deadline so that we may accommodate all examinees; information about exact exam location sites is provided to examinees approximately two weeks prior to the exam dates through an admission ticket sent by email. http://www.cfp.net/become/exam.asp
