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FPSB’s Financial Planning Curriculum Framework

Financial Planning Curriculum Components


FPSB’s Financial Planning Curriculum Framework consists of the following eight Curriculum Components:

1.    Principles and Practices of Financial Planning

2.    Financial Management

3.    Asset Management

4.    Risk Management

5.    Tax Planning

6.    Retirement Planning

7.    Estate Planning

8.    Integrated Financial Planning

The first seven Curriculum Components relate to the Fundamental Financial Planning Practices and Financial Planner Abilities described in FPSB’s Financial Planner Competency Profile, while the Integrated Financial Planning Curriculum Component provides students the opportunity to gain the knowledge and practical skills needed to integrate financial planning abilities, skills and knowledge from the first seven Curriculum Components using real world client situations.

Educators can use the Financial Planning Curriculum Components to create financial planning educational modules/ courses that teach students to develop strategies and evaluate the advantages and disadvantages of each strategy; optimize strategies and make recommendations; and prioritize action steps to assist clients in implementing recommendations as part of the process of developing a financial plan. More than one component can form part of a module/subject as long as learning outcomes are covered at an appropriate level.

1. Principles and Practices of Financial Planning
The Principles and Practices of Financial Planning Component provides the student with an introduction to basic financial planning information and principles including: the financial planning process, client interactions and behavior, time value of money applications, ethical and practice standards for financial planning, compliance issues, economics, and the regulatory environment of the applicable jurisdiction.


2. Financial Management
The Financial Management Component prepares the student to develop strategies and use techniques to optimize short and mid-term cash flow, assets and liabilities, as well as to collect and synthesize information relating to personal financial statements, cash flow and debt, asset acquisition, liabilities, education planning and emergency fund provision.


3. Asset Management
The Asset Management Component prepares the student to develop strategies and use techniques to optimize returns on assets considering the client’s requirements and constraints, as well as to understand: various types of securities traded in financial markets, investment theory and practice, portfolio construction and management, and investment strategies and tactics. (Note: The terms "risk", "risk exposure" and "risk tolerance" refer to the risk of financial loss due to market circumstances.)


4. Risk Management
The Risk Management Component prepares the student to develop strategies and use techniques to manage financial exposure due to personal risk. (Note: The terms "risk", "risk exposure" and "risk tolerance" refer to the risk of financial loss due to personal circumstances).


5. Tax Planning
The Tax Planning Component prepares the student to understand and broadly evaluate strategies and techniques to maximize the present value of the client’s after-tax net worth and includes: the principles, current law and practice of taxation and their impact on the client’s financial situation, and financial planning for individuals, couples and families in their roles as individual investors, employees and business owners.


6. Retirement Planning

The Retirement Planning Component prepares the student to develop strategies and use techniques for wealth accumulation and withdrawal during retirement years, taking into consideration the structure and impact of public and private retirement plans on the client’s financial plan.


7. Estate Planning
The Estate Planning Component prepares the student to understand and broadly evaluate strategies and use techniques to handle the preservation and distribution of accumulated assets, and to understand the legal, tax, financial, and non-financial aspects of this process, to efficiently conserve and transfer wealth, consistent with the client’s goals.


8. Integrated Financial Planning

The Integrated Financial Planning Component serves as a capstone course that allows the student to engage in critical thinking, make decisions and integrate among the Curriculum Components (Principles and Practices of Financial Planning, Financial Management, Asset Management, Risk Management, Tax Planning, Retirement Planning and Estate Planning) while developing strategies, recommendations and financial plans for clients using real world situations and facts.


 
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Financial Planning Standards Board Ltd. owns the marks above outside the U.S. and permits qualified individuals to use these marks to indicate that they have met FPSB's initial and ongoing certification requirements.

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