Bachelors (BS) in Financial Planning

Overview

This major offers a 63-semester-hour course of study registered by the CFP® Board, enabling students to acquire the necessary technical and professional skills for a successful career as a Certified Financial Planner®, the top credentialing certification in the financial planning profession. After students complete the course work involved with this degree, they will have met the educational requirement of the CFP® Board and be eligible to sit for the CFP® exam. Like other majors in the Department of Business and Economics, it requires completion of a general business core. Students are required to obtain a minimum grade of C- in all major courses.

Program Objectives

Graduates with a BS in financial planning will possess:

  • The skills and knowledge of financial planning that are represented in the full range of topics covered by the CFP® examination. Including knowing how to:
    • Understand the fundamentals of the financial planning process.
    • Calculate and interpret the time value of money.
    • Develop a clear, professional understanding of insurance policies and strategies.
    • Understand risk management concepts.
    • Apply tax planning strategies to meet the goals of the client.
    • Become skilled in applying retirement planning strategies.
    • Develop estate planning strategies for the benefit of clients.
  • Interpersonal skills necessary to maintain successful client relationships and to work effectively in planning environments.
  • The quantitative, analytical, and technical skills needed to address complex financial situations.
  • The ability to develop financial plans for clients with a variety of needs.
  • The awareness, understanding, and skills necessary to live and work in a diverse world.
  • Knowledge of the legal and regulatory environment in which financial planning occurs and familiarity with relevant licensing, reporting, and compliance requirements.
  • The ability to recognize the ethical dilemmas that may arise in financial planning practices and familiarity with the appropriate responses to those dilemmas, as reflected in the CFP® Board's Code of Ethics and Professional Responsibilities.
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Major Requirements

Complete the following:

Accounting is the language of business. This course provides an introductory overview of accounting from a user perspective. Its purpose is to give students a basic understanding of the logic behind the principles of accounting, enabling them to prepare, read, analyze, and interpret financial statements for the purpose of decision making. Prerequisite: BUSN 110 and Sophomore standing or above.
This course is a continuation of ACCT 271. It emphasizes the uses of accounting data by management to make both planning and control decisions. Students will continue to analyze financial statements to assess a company's liquidity, profitability, capital structure, and stock market ratios. Students will also develop operating budgets and use them to evaluate performance. Cost information will be classified by behavior, and allocated under a cost-beneficial system that assists managers in using relevant costs for decision making. Prerequisite: ACCT 271 Principles of Financial Accounting.
This introductory survey will examine the major functional areas of business and afford the student an opportunity to consider this major as a path to a career. Emphasis is given to contemporary business concepts, in particular, and examination of business as a field for stewardship.
A practical application of personal financial management and an introduction to the field of financial planning. Topics include money history, stewardship, budgets, loans, spending, housing, insurance, investments, and retirement. Prerequisite: Business and economics majors only.
Statistical procedures with applications in management and economics. Emphasis on the development of a basic knowledge of the statistical tools available for analysis of problems and decision making. Prerequisites: MATH 180 College Algebra or higher math course, or an SAT math score of 620 or higher or an ACT score of 28 or higher.
This course is designed to prepare students to meet the ethical challenges facing employees in modern business and nonprofit organizations. The course will address moral issues at every organizational level - personal, interpersonal, group, and system wide. Topics will include identifying personal mission and values; developing character; faith in the workplace; ethical perspectives, moral reasoning, and decision-making formats; ethical organizational communication and influence; ethical group behavior and leadership; and the creation of ethical organizational climates. Prerequisite or Co-requisite of BUSN 110.
Covers the legal aspects of common business transactions. Includes the law of contracts, agency, negotiable instruments, and other phases of private law.
The study of administrative policy and strategy in organizations. Emphasis is placed on the integration and inter-relationships of functional business areas (accounting, economics, finance, marketing, and management) for the purpose of developing an organizational-wide perspective. Students learn a model of strategy formulation and implementation and, through analyzing cases, apply this model to a variety of institutional settings. Prerequisites: MGMT 260 Principles of Management, MKTG 260 Principles of Marketing, FINC 260 Business Finance, ACCT 272 Principles of Managerial Accounting, and senior standing.
An introduction to the macro aspects of the social science concerned with the allocation of resources. Consideration is given to the fundamental principles of the economy as a whole, dealing with economic data, behavior, and theory at the aggregate level of the economy. The course studies topics such as government spending, taxation, and monetary policies, as well as events and issues in the global economy. ECON 211 and ECON 212 are complementary courses; however, it is preferred that ECON 211 be taken first.
An introduction to the micro aspects of the social science concerned with the allocation of resources. Consideration is given to the fundamental principles governing production, distribution, consumption, and exchange of wealth. The course studies the behavior of microeconomic units such as individuals, households, firms, and industries. ECON 211 and ECON 212 are complementary courses; however, it is preferred that ECON 211 be taken first. Prerequisites: Students must have completed MATH 180 College Algebra or higher math course, or an SAT math score of 620 or higher or an ACT score of 28 or higher.
An introduction to the finance function of a business entity. Specific topics to be studied include capital budgeting, cost of capital determination, sources of financing, leverage and its effect on the profits and risk of business, and managing the asset mix and capital structure of a business. Prerequisites: ACCT 271 Principles of Financial Accounting, ACCT 272 Principles of Managerial Accounting (may also be a co-requisite), ECON 211 Principles of Macroeconomics and college level statistics course 200 level or higher. Students who've taken PSYC 240 or SOCI 340 must also complete MATH 150 or higher, or have a SAT math score of 620 or higher or have an ACT score of 28 or higher.
The importance of thinking globally and understanding the legal, technological, political and economic differences that affect business practice are explored through readings and projects. The focus is on the global changes that are impacting national sovereignty, regionalization, and the balance of economic and political power. Prerequisites: ECON 211 Principles of Macroeconomics and MGMT 260 Principles of Management.
A study of the theory and practice of management. The course involves discussion and application of areas such as social responsibility, strategy, problem solving, communication, change, job performance, and financial/operational controls. Prerequisite or Co-requisite of BUSN 110 Introduction to Business
Study of the marketing concept, consumer demand and behavior, and marketing functions of the firm. The objective is to understand the development of marketing channels, products, prices, and promotion strategies. Prerequisite or Co-requisite of BUSN 110 Introduction to Business

Complete the following:

In this course, we will cover Topics 1-21 of the CFP Board Principal Knowledge Topics. Areas of focus will include: the financial planning process, the client/planner relationship, communication and counseling, personal financial statements, cash flow management and financing strategies, time value of money, economic concepts, financial institution regulation, consumer laws, and CFP Board's Code of Ethics, Rules of Conduct, Practice Standards and Disciplinary Procedures. Prerequisites: BUSN 120 Personal Finance, ACCT 271 Principles of Financial Accounting, BUSN 240 Statistics for Business and Economics and ECON 211 Principles of Macroeconomics.
In this course, we will cover Topics 22 – 32 of the CFP Board Principal Knowledge Topics. Areas of focus will include: principles of risk and insurance, risk exposure, health insurance, disability insurance, long-term care insurance, annuities, life insurance, taxation, business insurance, needs analysis, policy selection, property and casualty insurance. Prerequisites: FINC 250 Personal Financial Planning for Professionals.
3 hours In this course, we will cover Topics 42 – 51 of the CFP Board Principal Knowledge Topics. Areas of focus will include: tax law fundamentals, compliance, tax calculations, taxation of business entities, trust and estate tax, alternative minimum tax, tax reduction techniques, property transactions, passive activity and at-risk rules, tax implications of special circumstances, charitable contributions and deductions. Prerequisites: FINC 250 Personal Financial Planning for Professionals.
In this course, we will cover Topics 63 – 72 of the CFP Board Principal Knowledge Topics. Areas of focus will include: property titling, transferring property, documents, gift and estate tax compliance, estate liquidity, trusts, marital deductions, intra-family transfer, postmortem estate planning. Prerequisites: FINC 250 Personal Financial Planning for Professionals and FINC 320 Income Tax Planning.
In this course, we will cover Topics 33 – 41 of the CFP Board Principal Knowledge Topics. Areas of focus will include: characteristics, uses and taxation of investment vehicles, types of investment risk, measures of investment returns, asset allocation and diversification, bond and stock valuation, portfolio development and analysis, investment strategies, and alternative investments. Prerequisites: FINC 250 Personal Financial Planning for Professionals, FINC 320 Income Tax Planning and FINC 260 Business Finance.
In this course, we will cover Topics 52 – 62 of the CFP Board Principal Knowledge Topics. Areas of focus will include: retirement needs analysis, Social Security, Medicare, Medicaid, retirement plans, plan rules, tax advantages, regulatory considerations, distribution rules, retirement strategies, and business succession planning. Prerequisites: FINC 320 Income Tax Planning and FINC 450 Investment Planning (may also be a co-requisite).
In this course, we will cover all 72 topics of the CFP Board Principal Knowledge. Topics. We will tie together the concepts by constructing a financial plan. The focus of this course is on case study application. Areas of focus will include: cash flow and financial situation, income tax evaluation, education funding evaluation, retirement evaluation, risk management/insurance evaluation, estate planning evaluation, and plan construction and communication. Prerequisites: FINC 310 Insurance Planning and Risk Management, FINC 330 Estate Planning, FINC 470 Retirement Planning, and FINC 450 Investment Planning.