Personal Financial Planning Certificate
The Personal Financial Planning certificate program is principally designed for individuals employed in financial planning or in areas related to the financial services and insurance industries. Students entering this program are assumed to have a business foundation gained either through college instruction or on-the-job learning.
Students in this program are likely to be:
- Financial planning practitioners looking to update and strengthen their knowledge or broaden their base.
- Practitioners interested in earning the CFP® professional designation.
- Employees in financial institutions seeking professional development.
- Mature employees seeking a career change.
- Liberal arts college graduates seeking courses in financial planning.
- Students and graduates from business programs who are interested in financial planning courses not offered by their institutions.
- Adult learners returning to the labor force who are interested in working in the financial services industry.
Students who complete each course successfully and who meet all other certification requirements may be eligible to sit for the national Certified Financial Planner (CFP) exam, administered by the CFP Board of Standards.
To sit for this comprehensive exam, a student must pass an accredited certificate program (such as this one), have a bachelor's degree, and pay a fee to the CFP Board. Anyone seeking the CFP designation should meet individually with the program coordinator to be advised of CFP procedures and certification requirements. Further information is also available on the CFP Board's web site: www.cfp.net.
The program may be completed on a part-time basis over three regular semesters. Evening courses will be offered during the fall and spring semesters.
Students should have a financial calculator capable of computing internal rate of return (IRR) to successfully complete the program.
|BFP* 210^||Fundamentals of Personal Financial Planning||3|
|BFP* 230||Investment Management||3|
|ACC* 243||Tax Planning I||3|
|BFP* 250||Retirement Planning and Employee Benefits||3|
|BFP* 260||Estate Planning||3|
|BFP* 265^^||Case Study and Analysis||3|
|Total Credits Required: 18|
^ While there are no prerequisites for the financial planning courses, a working knowledge of Financial Accounting (or completion of ACC* 115: Financial Accounting) is strongly advised for BFP* 210 and all other courses in the program.
^^ MCC's Personal Financial Planning certificate program is CFP® Board-approved. The Board has made a curriculum change, which they describe as follows:
"All students of CFP Board-Registered Programs whose initial dates of matriculation occur on or after January 1, 2012 will be required to take a financial plan development course registered with CFP® Board. Completion of the course will be required for those who register under "Challenge" status for the March 2012 or later administrations of the CFP® Certification Examination." BFP* 265: Case Study and Analysis fulfills the new curriculum requirement. Any student who is already enrolled in this certificate program (and has declared it as a program of study), may follow the course requirements listed in previous catalogs that can be found on the MCC website.
Note: Additional information about requirements, exam topics, etc. can be found at the Board's website: http://www.cfp.net/become. Students interested in taking the certification exam and have a career in the field are strongly encouraged to visit the site.
For more information, contact Donna Waldron at 860-512-2627.
Upon successful completion of all Personal Financial Planning certificate program requirements, graduates will
- Determine whether and how an individual can meet life goals through the proper management of financial resources.
- Explain issues and concepts related to the overall financial planning process.
- Apply financial planning concepts, tools and techniques in an objective, integrated and comprehensive manner for the benefit of individuals to help them achieve their financial objectives, using the financial planning process.
- Demonstrate an understanding of their responsibilities to the public, to clients, to colleagues and to employers in terms of acting in an ethical and professionally responsible manner in all professional services and activities.
- Demonstrate mastery of the financial planning topics determined by the Certified Financial Planner Board of Standards to constitute the core curriculum for personal financial planning practitioners: gather client data and determine goals and expectations; analyze and evaluate a client’s financial status; develop and present a financial plan; calculate and interpret time value of money; demonstrate an understanding of risk management, the process of risk analysis, and life insurance needs analysis; understand investment theory and strategies; explain the features of investment vehicles; calculate measures of investment and portfolio performance; understand the provisions of current Federal tax laws; apply tax planning strategies; and apply retirement and estate planning strategies.
Source: 2011-2012 Course Catalog