Curriculum

This is the introductory course in the Financial Planning (FP) program. As the name suggests, this course will introduce students to the general principles of Financial Planning. The course will begin by describing the FP process including the collection of data, financial statements and the budgeting process and the requirements of both the planner and of the profession (ethics, competencies, standards, regulations, etc.). The course will then establish the different areas of FP (law, taxes, insurance, investments, estate planning, etc.). The course will provide the appropriate foundation for the rest of the FP courses.

This course will primarily cover the following three areas: tax planning considerations, tax computations and tax planning strategies. The main focus will be on personal tax management and strategies.

Insurance is an important aspect of a financial plan. In order to acquire and develop the requisite skills, students will be provided with a knowledge base in the evolving area of risk management. This course in Risk Management and Insurance will provide students with an understanding of the modern methods of appraising risk and the different tools and techniques used to manage it. The course will provide an in-depth introduction to insurance as the traditional tool of risk management. Life, health, property and casualty, liability and other forms of insurance will be examined in detail in this course. At the end of this course, students should be able to assess the risk exposure and tolerance of clients and the different ways in which different types of insurance can be used to manage risk. Prerequisites: MFP 521 AND MFP 513.

A significant task of a financial planner is to address the estate planning needs of clients. This complex legal area explores issues in transfer of property, wills, trust, gifts, etc. Related issues in valuation, taxes, documentation, etc., are also examined. This course will also delve into issues of probate, freezes, marital deductions, charitable contributions, charitable trusts and planning for incapacity. Special attention will be given to trusts, the use of insurance in estate planning, taxation issues in estate planning, etc. The course should provide students with the knowledge necessary to advise clients in estate planning matters as well as to recommend different plans and strategies. Prerequisites: BUS 521 and BUS 513.

This is the capstone course in Financial Planning and it will attempt to integrate the material in all other dedicated FP classes. Students will take this course only when they have finished all other courses successfully. This course will be structured as a casework course and the cases used will closely reflect the types of cases they may encounter both as financial planners and as part of their CFPTM Exams or Certification. Hence, each case will have components of all other FP courses and will integrate such material to reflect the complexities of real life clients. The course ends with an exam styled after the CFP Certification Exam. Successful students will not only be proficient in basic and advanced financial planning skills and competencies but also will most likely be successful in attaining their CFP certification. Prerequisites: MFP 521, MFP 525, MFP 526, MFP 527 AND MFP 513.

Finance and financial institutions as they relate to the firm and the flow of funds are studied. Emphasis is on the supply and demand of capital, principles and tools of business finance, money, and capital markets. Topics include: time value of money, valuation of securities, capital budgeting, Capital Asset Pricing Model (CAPM), market efficiency, risk and return analysis, working capital management, budgeting and planning, costs of capital, and financial ratio analysis. Cross listed with MBA 513.

This course is a study of the various type of available investments and the functions of financial intermediaries in money and capital markets. Study will also be given to the problems encountered in the management of a portfolio of investments. Cross-listed with MBA 542.

This course is intended to explore how financial planning practitioners bridge the gap between client's wealth and their cash flow needs during retirement. To do this we will explore the implications of longevity, inflation and return volatility on client funding needs. Students will create a pro-forma retirement budget in order to define both base and discretionary spending levels. Students will then use both Probability-based and Safety-first methods to determine appropriate asset allocations based on client risk tolerance and capacity. Comparisons will be made between Annuitized products (including Social Security) and capital assets to better understand the risks of both. Students will also explore alternative retirement products such as LT Care Insurance, Longevity Insurance, and Reverse Mortgages as ways to hedge against running out of assets during retirement.

This course is part of a series of courses designed to prepare students to provide services customary of business professionals. Ultimately, the goal of the class is for students to enhance their potential to succeed in the business world by augmenting their skills and abilities to communicate and persuade effectively given cultural parameters. The present course will focus on the development of communication skills based on best practices, cultural realities, and methods from several fields central and peripheral to business and management. For example, students will formulate an individual orientation to communication based on theoretical leanings, empirical evidence, and personal preferences. Additionally, students will learn strategies to ascertain what clients attempt to communicate, and strategies to arrive at workable solutions to typical business communication challenges.

?Influencing financial planning clients is a leadership event. Understanding the influential tactics that clients respond to is one of the key success skills that financial planners must master. Understanding the values that their clients have, identifying those values, understanding the goals of the clients, and succeeding in getting clients to change their spending, saving and earning strategies to achieve those goals is crucial to helping both the planner and client succeed. This course will focus on the social psychology of leading and influencing clients through behaviors that the planner displays, developing skills in evaluating client values, and preparing a plan for further development of their leadership skills. The course will stress theoretical approaches and models as well as practical application relevant for financial planners.?

Small to medium-sized businesses and professional practices are a primary market for the experienced financial planner. It is pivotal for the planner to: understand and anticipate the client's risks and concerns, provide the client with workable and practical solutions to mitigate risks, and provide the client with viable incentive and reward packages to attract and retain highly skilled and valued employees. This course uses a theory- practice approach of readings, class discussion, discussion boards, assessment tools, and case studies to provide students with an in-depth analysis of these problems and their solutions.

Financial Counseling represents a market opportunity for a knowledgeable financial planner. In this course, you will be introduced to the attributes of the financial counseling in four major areas: 1) competencies in the practice of financial counseling and framework; 2) financial counseling soft skills in understanding financial decisions, client's psychology, financial behaviors, and addictions; 3) debt management in debtor rights; litigation; credit, and foreclosures; 4) consumer population of the poor in financial mentality. This course qualifies for one of the education requirements for the Accredited Financial Counselor® certificate examination.

International and advanced estate planning represents a planning opportunity for knowledgeable financial planners. An individual client (or a spouse, child, or dependent) and their assets may be subject to the law in more than one country. Students will learn the attributes of international and advanced estate planning in four major areas: 1) competencies in the cross-states and cross-border estate documents; 2) global financial asset ownerships; 3) tax jurisdiction; and 4) planning with international tax treaty countries.

The success of the financial planning practice is more than effective sales and marketing management. To build a sellable practice, financial planning professionals must possess the necessary skills. This course helps financial planning professionals integrate their practice with sales, marketing, operation, communication, and servicing clients. These processes begin with a servant leadership style and end with a succession plan.

The purpose of the applied research course is to advance your expertise within a particular planning niche. Students will integrate material learned in prior financial planning courses with current research in answering financial planning practitioners' need, which positions you as a content expert. Applied research methodology to be explored outline of the research process in data collection, summary, analysis, and interpretation as well as limitations and implication for financial planning practitioners. Target journal publications are Journal of Financial Planning, Journal of Personal Finance, Financial Service Review, Journal of Financial Services, Journal of Financial Counseling and Planning as well as CFP Board's Financial Planning Review.

This course illustrates how contemporary macroeconomics theories and practice explain the current state of affairs in creating better opportunities for many people and business entities in the global economy. This course also explains and argues about the emergence of the crises that have shaken the economic foundations of many economies and regions in the world. The course brings attention to major current problems in the world such as Global Financial Crisis and its outcome in the form of increase in unemployment, high public debt, and growing poverty and income gap within a country and among the nations. The class provides ample opportunities for debating the comtemporary and prevailing policy initiatives with respect to issues such as inflation, exchange rates regimes, fiscal rules and regulations. Students will have the opportunity to develop an international macroeconomic prespective. They are encouraged and assisted to use critical and deductive reasoning, adaptive thinking, ethical judgment in reaching the possible conclusions. This class will embark on helpng the students to enhance their capacity to synthesize competing points of view and effective communication. Cross-listed with MBA 511.

This seminar course is intended to explore the field of behavior and to promote an appreciation for the importance of human behavior in the spectrums of households, institutions and society. Behavioral science is an interdisciplinary body of knowledge with strong ties to the social sciences-psychology, sociology and anthropology, as well as to allied social sciences-such as economics and political science. Behavioral studies uses scientific methods to develop and empirically test theories about human behavior across all spectrums, therefore, the role of the scientific method in understanding and application of knowldege regarding topic areas is quintessential. This course is devoted to understanding the nature and role of reason, emotions and behavior in financial decision making under uncertainty. The three areas of decision-making behavior that will be thoroughtly explored will be in the fields of investment, retirement savings and financial and mental health. Cross-listed with MBA 545.

The financial planning profession deals with both general and industry-unique ethical challenges. There are various factors, including the regulatory environment, compensation structures, conflicts of interests, aging population, and consumer behavioral constraints, have a profound need for ethical behavior. Students will develop and study models for ethical decision-making based on the analysis of the main philosophical and ethical systems in this course.

Managers are called upon to make important choices that require a well-informed understanding of how organizations are designed and operate. Toward that end, they must be knowledgeable of all of an organization's functions (including accounting, finance, human resources, marketing, operations, etc.) and how these activities must be coordinated. Further, to achieve firm goals, managers are required to have a profound understanding of the industry and professional environment. This course introduces the functional areas of an organization, seeks to develop external environment analytical skills, and proposes theoretical and practical paradigms to effectively manage in an increasingly competitive global environment. Cross-listed with MBA 505.

With more and more products and services chasing fewer dollars, marketing strategy and plan execution is more important than ever. The goal of marketing is to plan, build, manage and grow ethical and profitable customer relationships over time. Marketing Management introduces students to the great variety of functions that must be managed in a marketing organization. Activities and issues addressed include product marketing and management, customer satisfaction, pricing, product launches, digital marketing, marketing information systems, channel management, marketing administration, industry marketing, marketing communications, lead management, event marketing and marketing campaign strategy. Cross-listed with MBA 509.

Financial Technology (FinTech) reshapes the financial planning industry depends on how adaptive the practitioners leverage the FinTech. In this course, you will be introduced to the basics of FinTech, Blockchain, and the applications of Blockchain. Financial Planning industry is highly regulated. How do FinTech influence regulation and compliance? As well as how consumers demand the use of FinTech or Blockchain that could potentially disrupt the Financial Planning industry.

The main focus of this course is on the decision-making process and the role of management science in that process. Students need to demonstrate knowledge of the practical basis of the course by mastering and correctly applying the methods for making these decisions, comparisons, and inferences in business settings The purpose of this course is to provide students with a sound conceptual understanding of the role management science plays in the decision-making process. The course is concerned with the wide variety of quantitative techniques currently being used in the field of operations research. Students must apply the management science model to generate solutions and recommendations for management. Cross listed with MBA 510.