Financial planners are being utilized more frequently in the planning efforts of those trying to achieve their short-, medium-, and long-term financial goals. Certainly there is no guarantee that planners with or without the CFP® certification will be effective in any given investment situation. However, clients can rest assured that those planners with the CFP® certification have completed a minimum of 225 contact hours of classroom instruction, have validated that education by passing a rigorous 10 hours of standardized examinations, subscribe to a professional Code of Ethics, and obtain 30-hours of continuing education every two years.
The curriculum, textbooks, and instructors must be reviewed and approved in each program of study registered by the CFP Board of Standards. We can guarantee that you will be exposed to the appropriate, up-to-date material. Ultimately, it is up to the individual as to whether they approach the program with a healthy attitude of study and class involvement.
1) Is your program an instructor-led program or self-study?
Our program is instructor-led. Classes meet one night per week from 6:00-9:00 p.m. for approximately 15 months. Each module lasts for 11 weeks and can be taken in any order. A student can expect to spend 3-9 hours per week outside of class time on reading, assignments and general study. This time varies according to professional and academic background.
2) Can I use this program as part of an academic degree?
No, the financial planning coursework is a certificate program (i.e., non-credit). You will be tested and graded in each class, and your grades will be submitted to Certified Financial Planner Board of Standards, Inc to show that you have successfully completed an approved educational program. However, there are other schools that offer this program as an academic program at either the undergraduate or graduate level. For more information, visit www.cfp.net.
3) Some programs have a minimum of 5 modules and some have as many as 7 – what is the difference?
Some programs combine the Fundamentals module with the Insurance module while others do not. Also, some programs offer separate modules in Case Studies and a Capstone or review module. Our program offers the following six courses: Fundamentals of Financial Planning, Insurance Planning, Taxation of Individuals, Investment Planning, Retirement Planning, and Estate Planning. All registered programs must cover all assigned topics and meet for a minimum number of contact hours. How the topics are arranged into courses is a matter of program preference.
4) What are the costs associated with the program?
Each course/module is $700, payable at the beginning of the course. In addition, students are responsible for course texts which are estimated at approximately $600 total. A financial calculator is also required. Models range from $40-100.
5) What books must I purchase?
There is a total of six text books that must be purchased if you are taking the full six-module program. Each book costs about $110.
Titles include:
FP 101, Fundamentals of Financial Planning: Financial Planning: Process and Environment, Second edition, 2007. Editors Don A. Taylor and C. Bruce Worsham.
FP 102, Fundamentals of Insurance Planning: Fundamentals of Insurance Planning, 2nd edition, 2007. Burton T. Beam, Jr., and Eric H. Wiening.
FP 103, Fundamentals of Income Tax Planning: Fundamentals of Income Taxation, 8th edition, 2007. James F. Ivers, III.
FP 104, Fundamentals of Investment Planning: Fundamentals of Investments for Financial Planning, 5th edition, 2008. Walt J. Woerheide.
FP 105, Fundamentals of Retirement Planning: Planning for Retirement Needs, 10th edition, 2009. David A. Littell and Kenn Beam Tacchino.
FP 106, Fundamentals of Estate Planning: Fundamentals of Estate Planning, 11th edition, 2008. Constance J. Fontaine.
Please visit http://www.theamericancollege.edu/subpage.php?pageId=183 for ordering information.
Along with the text books, you will need to purchase the appropriate case studies book for each module. These can be purchased from Keir Education by following the instructions below:
Go to www.KeirFinancial.com
Select Supplemental Materials
Select Study Materials in the box at the bottom of the screen
You will then find a link to all case study books under the title “Additional Resources”
Each one costs $15 and are titled as:
Financial Planning
Insurance Planning
Investment Planning
Income Tax Planning
Retirement Planning
Estate Planning
6) I have a business degree and have taken courses in tax and insurance as part of my degree. Do I still have to take these modules again in your financial planner program?
Unless you have taken a class at a CFP Board-registered program, then you will have to take the same class again. Our program is based on CFP Board-approved 89 topics. Even though you may have covered some of the same topics in your previous class, if it is not an approved program, you will have to take the class again in a registered program to be eligible to sit for the 10-hour certifying exam.
7) If I have completed a module through an approved self-study program, do I have to take the module again through your program?
No. As long as it is a CFP Board registered self-study program and proof of successful completion can be provided, you will not have to retake the module.
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8) Do I have to have a bachelor’s degree to start the program?
Beginning January 1, 2007, CFP Board will require candidates for CFP® certification to earn a bachelor’s degree before they can hold the CFP® certification. If you hold the CFP® certification by the end of 2006, you will be grandfathered in under the current guidelines.
9) What type of work experience is required to obtain the CFP® certification once one passes the CFP® certification examination?
Generally, working in the personal financial services arena, dealing with individuals or small businesses will qualify. If your role is more of a corporate financial or research position, it may not qualify. The general guideline is that three years of experience must be achieved by those applicants holding a bachelor’s degree. A long window of opportunity exists such that the experience may have been achieved before or after taking the examination. For more information on the types of experience needed to satisfy the experience criteria, visit www.cfp.net. Ultimately, it is the decision of the CFP Board of Standards as to whether your experience will qualify.
10) What are the qualifications of the instructors for the program?
CFP Board Instructor guidelines state that an instructor must have a bachelor’s degree with CFP® certification or a master’s degree. UNCW Cameron School of Business looks for evidence of teaching experience and experience in the financial services field.
11) When are the CFP® certification examinations given?
March, July and November – the third weekend of each. Visit www.cfp.net for locations and other national examination information. The registration cost for the examination is $595.
12) What educational level is your curriculum (junior/senior baccalaureate, master’s level, or a combination)
Our curriculum is based on the CFP Board-approved course materials. Our classes are run similarly to our master’s level courses.
13) Is assistance available for those students who deserve it?
Yes, any student may seek assistance at any time from either the instructor of the course module, or the director of the program (William Sackley, 910.962.3720 or sackleyw@uncw.edu).
14) How do you schedule your courses and how often are courses offered?
Courses meet one night per week from 6:00-9:00 p.m. We start a new sequence of courses each January. The six courses take approximately 15 months to complete. The course sequence beginning January 2008 conducts classes on Monday nights. The course sequence beginning January 2009 conducts classes on Tuesday nights to allow concurrent classes as needed. Modules may be taken in any order as long as each one is completed.
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An EEO/AA institution. Accommodations for disabilities may be requested by calling (910.962.2237) at least three days prior to the start of the program.
