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Financial Planning Program

Financial Literacy

Financial Literacy is the ability to use financial knowledge and skills to understand financial choices, plan for the future, spend wisely, and manage the challenges associated with life events such as a job loss, saving for retirement, or paying for a child’s education. The acquired knowledge and skills will empower individuals to make informed judgments and financial decisions and to take effective actions regarding the current and future use and management of money that best fulfills an individual’s personal, family and community goals, while utilizing one’s financial resources effectively for lifetime financial security. The cornerstone of Financial Literacy is Personal Finance education, which provides the principles and methods that individuals use to acquire and manage income and assets. Financial literacy is not an absolute state; it is a continuum of abilities that is subject to variables such as age, education, family, culture, and residence. Financial literacy refers to an evolving state of competency that enables each individual to respond effectively to ever-changing personal and economic circumstances.

Shepherd University’s Financial Planning Program provides a comprehensive curriculum serving the needs of undergraduate students and working professionals. Our program is registered with and approved by the CFP Board of Standards and students who complete a CFP Board-Registered Program are eligible to sit for the CFP® Certification Examination.

Does the CFP® certification help my earnings potential as a Financial Advisor?
Post image for Does the CFP® certification help my earnings potential as a Financial Advisor?A A common question asked by both students enrolled in our CFP® certification educational program and those considering the CFP® certification relate to the earnings potential of Financial Advisors. A recent article in the Registered Rep discusses the earnings upside of nearly 30% for Financial Advisors obtaining the CFP® certification.With evidence of increased earnings for the average practitioner awarded this Certified Financial Board of Standards approved designation, the effort is worth it, say CFP® professionals. Think competency and credibility. Clients get that.

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Contact Information
Program Director
Yuying (Joey) Xie, Ph.D. yxie@shepherd.edu
Department of Economics and Finance

Contact for the CFP Board of Standards:
Ben Martz, Ph.D.  bmartz@shepherd.edu
Department of Business Administration

Shepherd University
P.O. Box 5000
Shepherdstown, WV 25443

FPA Shepherd University Student Chapter
Officers:
President – Open

Rural Financial Planning Project Advisory Council
Rob Hoxton, President
304-876-2619
RHoxton@hoxtonfinancial.com

Program Information
Shepherd University’s Financial Planning Program provides a comprehensive curriculum serving the needs of undergraduate students and working professionals. Our program is registered with and approved by the CFP Board of Standards and students who complete a CFP Board-Registered Program are eligible to sit for the CFP® Certification Examination.

Programmatic Learning Outcomes

Upon completion of this program, graduates should be able to:

CFP Board of Standards Degree Program Approval
Shepherd University is one of the CFP Board of Standards Education Providers

Accreditation
Shepherd University is Regionally Accredited by the Higher learning Commission (HLC).

hlc

The Financial Planning Program is in the School of Business under the Department of Business Administration and is accredited by the International Assembly of Collegiate Education (IACBE).

IACBE

Program Curriculum
The Financial Planning program comprises 7 courses, 21 credit hours:
FINC 308 Financial Planning and Insurance
FINC 425 Investments
ACCT 335 Income Tax Planning
BADM 309 Risk Management and Insurance
BADM 427 Retirement and Employee Benefits
BADM 429 Estate Planning
BADM 431 Financial Plan Development (Capstone)

8 Principal Knowledge Topic Categories:

A. Professional Conduct and Regulation (7%)
B. General Financial Planning Principles (17%)
C. Education Planning (6%)
D. Risk Management and Insurance Planning (12%)
E. Investment Planning (17%)
F. Tax Planning (12%)
G. Retirement Savings and Income Planning (17%)
H. Estate Planning (12%)

A. Professional Conduct and Regulation
A.1.       CFP Board’s Code of Ethics and Professional Responsibility and Rules of Conduct
A.2.       CFP Board’s Financial Planning Practice Standards
A.3.       CFP Board’s Disciplinary Rules and Procedures
A.4.       Function, purpose, and regulation of financial institutions
A.5.       Financial services regulations and requirements
A.6.       Consumer protection laws
A.7.       Fiduciary

B. General Principles of Financial Planning 
B.8.       Financial planning process
B.9.       Financial statements
B.10.     Cash flow management
B.11.     Financing strategies
B.12.     Economic concepts
B.13.     Time value of money concepts and calculations
B.14.     Client and planner attitudes, values, biases and behavioral finance
B.15.     Principles of communication and counseling
B.16.     Debt management

C. Education Planning
C.17.      Education needs analysis
C.18.      Education savings vehicles
C.19.      Financial aid
C.20.      Gift/income tax strategies
C.21.      Education financing

D. Risk Management and Insurance Planning 
D.22.       Principles of risk and insurance
D.23.       Analysis and evaluation of risk exposures
D.24.       Health insurance and health care cost management (individual)
D.25.       Disability income insurance (individual)
D.26.       Long‐term care insurance (individual)
D.27.       Annuities
D.28.       Life insurance (individual)
D.29.       Business uses of insurance
D.30.       Insurance needs analysis
D.31.       Insurance policy and company selection
D.32.       Property and casualty insurance

E. Investment Planning
E.33.       Characteristics, uses and taxation of investment vehicles
E.34.       Types of investment risk
E.35.       Quantitative investment concepts
E.36.       Measures of investment returns
E.37.       Asset allocation and portfolio diversification
E.38.       Bond and stock valuation concepts
E.39.       Portfolio development and analysis
E.40.       Investment strategies
E.41.       Alternative investments

F. Tax Planning 
F.42.       Fundamental tax law
F.43.       Income tax fundamentals and calculations
F.44.       Characteristics and income taxation of business entities
F.45.       Income taxation of trusts and estates
F.46.       Alternative minimum tax (AMT)
F.47.       Tax reduction/management techniques
F.48.       Tax consequences of property transactions
F.49.       Passive activity and at-risk rules
F.50.       Tax implications of special circumstances
F.51.       Charitable/philanthropic contributions and deductions

G. Retirement Savings and Income Planning 
G.52.       Retirement needs analysis
G.53.       Social Security and Medicare
G.54.       Medicaid
G.55.       Types of retirement plans
G.56.       Qualified plan rules and options
G.57.       Other tax-advantaged retirement plans
G.58.       Regulatory considerations
G.59.       Key factors affecting plan selection for businesses
G.60.       Distribution rules and taxation
G.61.       Retirement income and distribution strategies
G.62.       Business succession planning

H. Estate Planning 
H.63.       Characteristics and consequences of property titling
H.64.       Strategies to transfer property
H.65.       Estate planning documents
H.66.       Gift and estate tax compliance and tax calculation
H.67.       Sources for estate liquidity
H.68.       Types, features, and taxation of trusts
H.69.       Marital deduction
H.70.       Intra-family and other business transfer techniques
H.71.       Postmortem estate planning techniques
H.72.       Estate planning for non-traditional relationships

Learning Options
Learners enrolled in the program have the following three delivery options:

Traditional -in a brick and mortar classroom setting.

Hybrid -combines both traditional instruction delivery as well as online. Learners meet at specific time-intervals while the do most of the work online

Online -the program is delivered online

This program is uniquely supported by an advisory board of financial professionals through the Rural Financial Planning Project (RFPP). The mission of the RFPP is to improve the lives of rural Americans through the promotion of financial literacy and the delivery of financial planning by well-trained and ethical financial planning professionals.

The RFPP provides tuition assistance, mentorship, internships and career employment opportunities for students. Faculty members receive funding for professional development and research.