Financial planning represents the management of personal finance related to cash flow, investment planning, risk and insurance management, retirement planning, estate planning, financing education and dealing with debts. It represents a long-term plan to optimize individuals’ or businesses future financial prospects, and to generate greater return on assets.
This postgraduate diploma gives students an in-depth and comprehensive insight into the role of the financial planner through a succession of detailed modules and topics.
On completion of the course, the student will be well versed in the disciplines behind financial planning, including taxation, insurance (health, life, property etc), investments, and estate planning.
What is financial planning, the financial planning industry, types of financial planning, the role of the financial planner, areas of financial needs (risk management and insurance planning, investment and planning issues, retirement planning, tax planning, estate planning, cash flow and liability management, educational financial management, relationship management).
Definition of the financial planning process, the six steps in the financial planning process (setting financial goals, gathering relevant data, analyzing data, recommendation of financial plan, implementation of financial plan, monitoring the financial plan).
Introduction to the time value of money, basic concepts, calculating the time value of money (present value, present value of an annuity, present value of a perpetuity, future value, future value of an annuity), formulas and examples, personal balance sheets, financial assets, explicit and implicit liabilities, economic net worth.
Introduction to life Insurance, types of life insurance policies, critical illness, taxation of life insurance, cost of life insurance, considerations, settlement options (lump sum, fixed and variable annuity), other options, planning techniques: buy-sell agreement, key man insurance, deferred compensation, Capital Maximization Strategy (CMS).
Introduction to health insurance, the health insurance plan, need for health insurance, short and long-term health insurance, types of health insurance (hospital, medical, surgical, travel, dental, eye care etc), disability health insurance, private health insurance, cost of a health policy, sources of health insurance, employee health benefits.
Introduction to home insurance, history of home insurance, policies, types of home insurances, insurance forms (basic form homeowner policy, broad form homeowner policy, special form homeowner policy, renters insurance, premier homeowner policy, condominium policy, holder houses), coverage rates, different types of automobile coverage, no-fault insurance.
Introduction to the risk management, risk management regulation and regulators, personal insurance, business insurance, general insurance.
Cash management planning, budgeting, cash flow analysis and planning, setting saving goals, effective saving strategies, tax considerations, introduction to deposit accounts, national savings and investments (NS&I), tax-exempt savings accounts (TESSAs), gilts and bonds, guaranteed income bonds (GIBs), permanent income bearing shares (PIBs).
Introduction to investment products and markets, fixed-income investments, savings accounts, marketable and nonmarketable government issues, municipal bonds, corporate bonds, preferred stock, common stock investments.
Mutual funds, closed-end-versus open-end funds, types of funds, aggressive growth funds, international/global funds, growth and income funds, fixed income funds, equity income funds, sector funds, money market funds, traditional index funds, benefits and risks, iShares, MSCI funds, variable annuity and life investment products, benefits and disadvantages of variable annuity.
Fixed-income security return, fixed-income security risk, buying and selling a bond, equity securities, equity return, equity risk, buying and selling stock, limiting risk, sale of mutual funds, asset allocation model, portfolio management, investment planning process, setting goals, life cycle, risk versus return, the investment portfolio.
Costs of college and university education, instruments of educational investment, alternatives, savings bonds for education, financial assistance, grants and scholarships, student loans, work study programs, repaying student loans, tuition rates, reducing tuition rates.
Cash flow management, setting goals, sources of credit (loans, credit cards, overdrafts etc), credit history, loan applications, collateral, interest rates, managing debt, financial counseling, bankruptcy.
Introduction to retirement planning, government sponsored retirement plans, social security, personal retirement funds, deductable versus nondeductible contributions, types of IRAs, rollover versus Transfer, Keogh Plan, corporate retirement plans, coverage requirements, types of plans, retirement income needs analysis, early retirement.
Introduction to tax planning, calculating gross income, adjusting gross income, IRA contributions, deductions, exemptions, tax computation (marginal tax rate, tax credits, capital gains and dividends), inheritance tax, charitable giving, corporation tax, stamp duty.
Introduction to estate planning, estate planning objectives, the Will, components of the Will, memorandum, power of Attorney, personal representative, probate, introduction to joint ownership, advantages and disadvantages of joint ownership, trusts, computation of estate tax, gift tax, estate tax reduction strategies.
Common obstacles to communication, types of communication, listening skills, organization communication, effective communication channels, working in a team, team roles, benefits of negotiation, dealing with conflict.
Types of customers, customer service, call centres, consistency and quality of communication, channel improvement, customer empowerment, measuring the customer experience, retaining customers.
Getting started, the internal and external environment, state of the financial market. competition, target audience, company organization, partners, employing staff, recruiting internships, use of business cards, vision and mission statements, issues to consider (costs, licensing/training), business plans, risks and liabilities.
Benefits of marketing, principles of marketing management, target audience segmentation, price strategies, promoting the business online, branding, marketing strategies, the marketing mix, contemporary marketing practices, advancements in marketing strategies, marketing and ethics.
Developing office writing skills, letters, writing style, language, confidentiality, graphs, tables, financial spreadsheets and figures, planning a presentation, choice of visual aid, public speaking, rehearsal techniques.
Statutory bodies and regulators, trade organizations, licenses and qualifications, self regulation, regulation within the financial sector, aims and objectives of regulations, International laws and authorities, aspects of compliance, compliance management.
The global economy, competition, consumer demand, laws and regulations, the marketplace, the financial planners of the future, types of financial planning offered to consumers, technological advancements.
Introduction to financial accounting, users of financial information, key accounting models, terminology, need for financial statements, the balance sheet, balance sheet layouts, ratio and the balance sheet.
Income statement and layout, ratios, revenues and trade receivables, owners equity, cash flow measurement and documentation, inventories and cost of sales, tangible and intangible assets, liabilities, financial statements and recording transactions, preparing financial statements, analyzing and interpreting financial statements, analysis tools, auditing.
Introduction to spreadsheets, step by step instructions on using the features, functions and applications for spreadsheets, customizing the spreadsheet software, installing the spreadsheet software, security, platforms, operating system compatibility.
Detailed definitions of key financial planning terms.
The Business Plan, Legalities, Setting Up, the Marketing Strategy, Knowing Your Competitors, Promotional Tools.
Preparation and Research, Speech Content, Subject Matter and Objectives, Speech Delivery and Variety, Body Language, Eye Contact, etc., Presentation Aids e.g. Visuals, etc., Management of Locations and Audiences, Presentation Structure.
The projects are an important part of the course. Each course participant is given 5 project briefs. Participants are asked at the end of the course to produce 5 financial planning projects. This gives participants the opportunity to use the knowledge they have obtained during the course in a focused way.
Online Lecture Modules, Subject Expert Feedback Sessions after each Module, Practical Case Studies, End of Module Practical Activities etc.
Full support is available from our Subject Experts by email at the end of each module and an ongoing basis during the course.
Anyone working in the general business sector in a senior or support role which is likely to require Financial Planning Skills.
Successful candidates are awarded the Postgraduate Diploma in Financial Planning (PG. Dip. Fin. Plan.) at Pass, Credit or Distinction level.
On successful completion of this course you will receive a Professional Diploma qualification that is certified and awarded by the ICM (Institute of Commercial Management).
The Institute of Commercial Management was founded in 1979 and is one of the leading Professional Examination and Certification Bodies in the world today. Fitzwilliam Institute have developed and provided practical skills training courses in liaison with the Institute of Commercial Management qualifications and certifications framework for over 25 years. The Institute of Commercial Management certifications and continual professional development training awards are recognised by leading industries, bodies and professions.
Duration: You will have full access to online resources and subject expert support for two calendar years. However, you can complete the course in as little as 1 year, by dedicating 6-8 hours of study per week.
Course Fees: 1995.00 EUR
To secure your place on the course the full fee is required. All fees must be paid in full before the course begins. Please note, the full course fees are inclusive of all course materials and certification costs.
Enrolment intake is strictly limited on this course. Early application is advised. Places are allocated on a first come first served basis.
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Fitzwilliam Institute closes on Bank Holidays and for a number of days at Christmas and New Year. Fitzwilliam Institute reserves the right to postpone, cancel or alter courses without notice or to change any of the details in this brochure. Fees are not refundable unless the course is cancelled by Fitzwilliam Institute. Distance Learning courses are provided by Fitzwilliam Institute BGLS Ltd.
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