Master of Science in Personal Financial Planning

3 credits; Prerequisite(s): None

This course introduces students to the process of financial planning, and insurance needs and planning. The course includes a case study that students study throughout the first 5 (core) courses. The course applies the financial planning process, the time value of money, cash flow and financing strategies, education planning, and the concepts of a variety of insurance needs.

3 credits; Prerequisite(s): None

This course introduces students to the world of investments, stocks, bonds, and related instruments, their trading markets, factors, forces, and theories, and applies those concepts in a case study. This course also demonstrates the importance of investment risk, quantitative investment concepts, and measures of investment returns.

3 credits; Prerequisite(s): None

The course begins with a fundamental overview of the individual income tax calculation process. The course then delves into investment vehicle taxation including life insurance, annuities, and other securities. Tax reduction techniques such as charitable contributions are subsequently discussed. Next the income tax implications of various types of businesses. The self-employment tax is analyzed. Additionally, property acquisitions and dispositions are discussed in depth. Passive activity rules will be explored. Finally, several compliance and tax penalty issues are evaluated.

3 credits Prerequisite(s): None

In this course, students analyze a wide range of issues facing individuals preparing for retirement. Through the course case study, students will learn how to create comprehensive retirement plans tailored to clients’ needs. Qualified ERISA plans, IRAs, non-qualified plans, and Social Security retirement benefits will all be covered.

3 credits; Prerequisite(s): None

Basic estate planning concepts and techniques are covered in this course. Subjects include the estate planning process, client interaction about estate planning, basic legal estate planning documents, trusts, lifetime transfers, gift, estate, and generation-skipping transfer taxation, life insurance planning, and charitable giving.

3 credits; Prerequisites: PFPL510 and PFPL540, or equivalent

Students will get the chance to apply their knowledge to a case study of a hypothetical couple seeking retirement in 15 to 20 years. Students will be expected to show how they would assist clients and help resolve their retirement issues. Research and writing skills are learned and used in the weekly assignments.

3 credits; Prerequisite: PFPL520

The course covers the theory of investment management, security valuation, and portfolio management, including the analysis of investment risk, return, and portfolio performance evaluation. There are two case studies analyzed, and investment policy statements are created for those hypothetical clients. Short-answer and calculations are required on the weekly assignments.

3 credits; Prerequisites: PFPL510, PFPL520, PFPL530, PFPL540, PFPL550, or equivalent

Students use their knowledge to analyze the situations, to create a financial plan for several hypothetical families in this course. A comprehensive Excel file is filled in and analyzed throughout the course (completed in the final week) and weekly short-answer assignments and quizzes are due weekly.

3 credits; Prerequisites: PFPL600 and either PFPL522 or ABFP^®

Client Psychology and Communication will help students understand and apply the most up-to-date best practices on the qualitative side of financial planning, informed by current academic research. Building on the fields of psychology and behavioral finance, this course includes readings from foundational texts in client psychology and communication, written by the top scholars in financial planning academia. A case study integrates the readings and assignments. The course is both practical and educational.

3 credits; Prerequisite(s): PFPL510 or PFPL520

This course covers financial statement analysis starting with the origin of financial data and uses of financial reporting. Topical coverage includes revenue recognition, income determination with in-depth analysis of the income statement. Coverage also includes applied financial statement investigation including cause-of-change, common-size, and trend analyses.

Prerequisite(s): ACCT545

Building on financial statement analysis tools and techniques covered in ACCT545, this course provides advanced analysis of the asset side of the balance sheet, including receivables, inventory, and long-lived assets. Additional coverage includes using financial information in making decisions associated with credit analysis, contracting, and valuation, as well as in-depth study of the sources and uses of cash as identified in the statement of cash flows (operations, investing, and financing).

3 credits; Prerequisite(s): None

This course covers economic issues relevant to financial planners, including economic indicators, monetary and fiscal policies, economic growth, international trade, currency exchange, and investment decisions. Weekly assignments are largely short answers and one- to two-page essays. Calculations are required in some assignments (e.g., currency exchange).

3 credits; Prerequisites: None

This course covers the fundamentals of quantitative concepts and techniques including descriptive statistics, probability distributions, sampling, hypothesis testing, correlation analysis, linear regression, and time-series models.

3 credits; Prerequisites: FINA525 (or equivalent course)

In this course, students are set to master the intricate world of data analytics, tailored for financial applications. Structured around nine pivotal Program Learning Outcomes (PLOs), the course spans from foundational data analytics principles to advanced topics like regression models, time series forecasting, data mining, and cluster analysis, all essential for financial analysis and investment decision-making. It emphasizes developing robust data management, transformation, and visualization skills, alongside understanding and applying various regression and tree models, and mastering data mining techniques and cluster analysis.

Upon completion, students will not only be proficient in handling, preparing, and transforming financial data, but also adept in visualizing and interpreting complex relationships within datasets. They will be equipped to apply advanced analytical methods, including regression analysis, time series forecasting, and cluster analysis, enabling them to analyze intricate financial datasets, derive insightful information, and make informed, data-driven decisions in the finance sector.

3 credits; Prerequisites: PFPL520 (or equivalent)

This course covers the advanced analysis of equity and debt securities including the valuation of common stock, preferred stock, and various types of fixed-income instruments. In regard to common stock, coverage includes valuation techniques including discounted cash flow analysis, price multiples, and the residual income model. Bond features and characteristics including time-to-maturity, types of coupons, callability, conversion are covered. Relevant topics include investing strategies, duration, convexity and risks relevant to securities, including default, credit, interest rate and reinvestment risk. Additional coverage includes behavioral finance, technical analysis and the Efficient Market Hypothesis.

3 credits; Prerequisite(s): PFPL510 and PFPL520 (or equivalent)

This course examines the financial structure of corporations with an emphasis on understanding financial statements, time value of money, cash flows, working capital management, capital structure, financing decisions, cost of capital, capital budgeting techniques.

Prerequisite(s): PFPL520 and FINA565

This course explores derivatives, alternative investments and alternative investment strategies. The course covers the mechanics and markets for options, forward and futures contracts, forward and futures pricing, equity options and interest rate derivatives. Additionally, it covers alternative investments and alternative strategies including the use of derivatives in these strategies. Learners will be introduced to hedge funds, real assets, private capital, liquid alternatives and the use of derivatives and alternative investments in portfolio management.

3 credits; Prerequisite: PFPL520

Students enrolled in this course are immersed in the world of behavioral finance. This is a fascinating look at real-world case studies of the psychology, experiences, and personal biases people possess surrounding money. Weekly assignments consist of short-answer and one- to two-page essays.

3 credits; Prerequisite(s): PFPL510 and PFPL 520 (or equivalent courses)

The primary objective of the course is to provide students with an understanding of the role business valuation plays in the real world. The course provides a pathway to becoming a business valuation analyst and/or Accredited in Business Valuation (ABV) credential holder or Certified Valuation Analyst (CVA) credential holder. The course introduces basic principles in business valuation and pre-engagement considerations including professional standards such as AICPA VSSection 100. The course covers sources of data, economic and financial statement analysis, the three valuation approaches, cost of capital, and valuation adjustments. It concludes with a discussion of the valuation conclusion and reporting and a brief survey of valuations for financial reporting, intangible assets, and litigation.

3 credits; Prerequisite: PFPL530

This course provides students with a strong background in the application of income tax concepts, calculations, and planning techniques specific to middle- and higher-income taxpayers. Short-answer questions on hypothetical situations are on the weekly assignments.

3 credits; Prerequisite: PFPL550

This course examines selected issues related to estate planning in a case study-driven format. These include both tax and non-tax aspects of planning for disability and death. Short-answer questions on hypothetical situations are on the weekly assignments.

3 credits; Prerequisite(s): None

The Chartered Retirement Planning Counselor^℠ or CRPC^® Professional Designation Program is taught by the College at the graduate level. Students who complete the program earn 3 credits in graduate credits that can be applied to the Master of Science in Personal Financial Planning program to fulfill elective requirements.

3 credits; Prerequisite(s): None

The Chartered Retirement Plans Specialist^℠ or CRPS^® Professional Designation Program is taught by the College at the graduate level. Students who complete the program earn 3 credits in graduate credits that can be applied to the Master of Science in Personal Financial Planning program to fulfill elective requirements.

3 credits; Prerequisite(s): None

The Accredited Wealth Management Advisor^℠ or AWMA^® or Sports and Entertainment Accredited Wealth Management Advisor^℠ or SE-AWMA^℠ Professional Designation Programs are taught by the College at the graduate level. Students who complete the program earn 3 credits in graduate credits that can be applied to the Master of Science in Personal Financial Planning program to fulfill elective requirements.

3 credits; Prerequisite(s): None

The Accredited Portfolio Management Advisor^℠ or APMA^® Professional Designation Program is taught by the College at the graduate level. Students who complete the program earn 3 credits in graduate credits that can be applied to the Master of Science in Personal Financial Planning program to fulfill elective requirements.

3 credits; Prerequisite(s): None

The Accredited Behavioral Finance Professional^℠ or ABFP^® Professional Designation Program is taught by the College at the graduate level. Students who complete the program earn 3 credits in graduate credits that can be applied to the Master of Science in Personal Financial Planning program to fulfill elective requirements.

3 credits; Prerequisite(s): None

The Chartered SRI Counselor^℠ or CSRIC^® Professional Designation Program is taught by the College at the graduate-level. Students who complete the program earn 3 credits in graduate credits that can be applied to the Master of Science in Personal Financial Planning program to fulfill elective requirements.

3 credits; Prerequisites: PFPL560 and PFPL570

The course covers a financial planning topic of the students’ choosing. Research and writing skills are learned in this course. Weekly critiques of writing are given, and students complete a 25- to 40-page research paper by the end of the class.