Syllabus FI 420 Personal Financial Planning

Transcription

1 Syllabus FI 420 Personal Financial Planning Instructor Julie Asti, CFP GOLDEN GATE UNIVERSITY Adjunct Professor, Department of Finance and Economics Edward S. Ageno School of Business Fall Trimester 2012 Contact Information Office hours: to set up telephone appointment (Please do not call I check my daily to see if there are any requests). Class Location 536 Mission St., Room TBD Time/Important Dates Meeting day and time: Each Monday 6:50 9:30 PM First day of class: August 27, 2012 Last day to add: September 8, 2012 Last day of class: December 3, 2012 Last day to drop/audit: November 3, 2012 **NO CLASS = LABOR DAY, MONDAY, SEPTEMBER 3, 2012 Course Description This class is an introduction to financial planning providing topical exposure to a broad range of financial planning practice areas. This is the entry level course for the Certificate in Financial Planning and the Master of Science in Financial Planning. The course is designed for students interested in pursuing careers in the financial planning and the asset management profession. This course will also be highly beneficial for those wishing to learn how to manage their own financial affairs and how to make wise financial decisions. o This course will be adapted with a focus on personal financial planning (rather than those who are looking to become financial planners) for those students who are MS Finance and taking this course as an elective. The course and curriculum are approved by the CFP Board of Standards and meets one component of the educational requirement for becoming a Certified Financial Planner. Topics will include: gathering and assessing client data, client goals and client values; the importance of stress testing and what if analysis; insurance/risk management; asset allocation and determining a client s risk tolerance; the myriad implementation of investment strategies; tax planning and estate planning. Key themes running through the class are the importance of ethics; the fiduciary and its importance to the financial planner; the practical (real world) application of academic information in the financial planning marketplace; and the tremendous impact financial planning has on the lives of individuals.

2 Course Objectives The principal objective of this course will be to provide a strong base for the next level financial planning coursework: FI 421 Personal Investment Management FI 422 Retirement & Employee Benefits Planning FI 425 Income Tax Planning FI 483 Insurance Planning FI 430 Business Development in Financial Services FI 426 Estate Planning and FI 434 Case Studies are not available until to you complete these classes The course will also provide an understanding and appreciation for the work of financial planning, the career opportunities available, and the business of financial planning. The course will also work to help students achieve and complete their own personal financial plan. Background of the Instructor Julie Asti has been working in the financial services industry since Since 2005 she has owned her financial planning and investment advisory firm, Asti Financial Management, LLC. Prior to starting her own firm, she worked for a small mutual fund in San Francisco as a Managing Director focusing on the firm s operations and marketing. Julie received her undergraduate degree from San Francisco State University in Finance, Banking and Real Estate. She received her graduate certificate in Financial Planning from UC Berkeley in 2005 and became a CFP Certificant in May Grading Criteria: Class attendance Class participation (subjective assessment by instructor) and homework completion Mid term exam Final exam Personal Financial Plan Required Text & Financial Calculator TEXTBOOK TBD BY STUDENT MAKEUP If majority of class are students in the CFP program, we will use Personal Financial Planning Theory and Practice, 5th Edition, Kaplan Financial; if majority of class students are MS Finance, we will use Personal Finance Kapoor, Dlabay, Hughes 10th Edition, McGraw Hill HP 12C calculator, 17BII, 10BII; Texas Instruments TI BA II Plus; Sharp EL 733A Note: YOU ARE REQUIRED TO BE PROFICENT IN THE USE OF YOUR CALCULATOR BEFORE CLASS BEGINS. PLEASE CONSIDER ATTENDING THE FREE FINANCIAL CALCULATOR REVIEW & TIME VALUE OF MONEY WORKSHOP (DATE TO BE ANNOUNCED) 2

3 Student Responsibilities Students are responsible for completing the homework reading and homework exercises. They will be called upon in class to provide answers to the homework exercises and to engage in general discussions on the topic(s) assigned in the reading. Both the Midterm and the final exams will be based on the text book and will cover material that was given in the readings and covered during class time. It is also hoped students will engage in discussion based on their own work or real world experiences. Homework If homework is assigned, it will be done at the end of each class. Each week s assignments will cover material from that week s reading, so you should be current and have read the chapters assigned for that week by the time you attend class so you can be prepared to discuss and ask questions. Homework should be handed in at the beginning of each class and will be discussed once handed in. Please note: it will be graded according to correctness, but credit will be given on completing the assignment with focus on measuring understanding of concepts and making sure a continued understanding of the topics covered. Class Schedule / Reading Assignments *SYLLABUS MAY CHANGE * Class #1: Monday, August 27, 2012 Intro to Financial Planning Survey on Class Makeup to determine curriculum Based on first class, we will use either the Kaplan textbook or the Personal Finance textbook with the following assignment/lecture discussion: [FOR NEXT CLASS BASED ON TEXTBOOK] Chapter One Introduction to Personal Financial Planning Chapter Two External Environmental Analysis Chapter Three Communication and Internal Environmental Analysis Homework = Asset Questionnaire Class # 2 Monday, September 3, 2012 NO CLASS LABOR DAY Class # 3 Monday, September 10, 2012 Review = Asset Questionnaire Discuss class project preparation of personal financial plan Watch I.O.U.S.A & Discuss (1.5hr) Chapter Four Personal Financial Statements Chapter Five Establishing Financial Direction 3

4 Class # 4 Monday, September 17, 2012 Watch I.O.U.S.A Update (30 minutes) Review = Financial Statements + budgets Discuss Cash Flow/Budgeting; Financial Statements [FOR PFP = INITIAL ASSET QUESTIONNAIRE + BALANCE SHEET + BUDGET DUE] [HW FOR PFP= SCHEDULE PERSONAL INTERVIEWS / WORK ON PROJECT SCOPE DOC] Class # 5 Monday, September 24, 2012 Watch I.O.U.S.A Update (30 minutes) Discuss foundation for building a financial plan [FOR PFP PERSONAL INTERVIEWS COMPLETED / PROJECT SCOPE DOC DUE] Chapter Six Time Value of Money Chapter Seven Education Funding Class # 6 Monday, October 1, 2012 Discuss Time Value of Money and Education Funding In Class Problems on Time Value of Money Bring calculators! Chapter Eight Introduction to Insurance and Risk Management Chapter Nine Managing Life, Health and Disability Risks ( ) Homework = time value of money calculation problems Class # 7 Monday, October 8, 2012 Insurance + Risk Management Life, Health and Disability Chapter Ten Personal Property and Liability Insurance Chapter Eleven Social Security and Other social insurance Class # 8 Monday, October 15, 2012 MIDTERM EXAM 4

5 Class # 9 Monday, October 22, 2012 Review = Midterm review Personal Property and Liability Insurance Social Security and Other social insurance Chapter Twelve Introduction to Investment Concepts (pages ) Chapter Twelve Supplement A Fixed Income Securities (pages ) Class # 10 Monday, October 29, 2012 Chapter Twelve Introduction to Investment Concepts (pages ) Chapter Twelve Supplement A Fixed Income Securities (pages ) Chapter 12 Supplements B C (pages ) [FOR PFP INVESTMENT PORTFOLIO HAND OUT ASSESSMENT DISCUSSED] Class # 11 Monday, November 5, 2012 Chapter 12 Supplements B C (pages ) Chapter 15 Introduction to Retirement Planning Chapter 16 Basic Retirement Plans Class # 12 Monday, November 12, 2012 Chapter 15 Introduction to Retirement Planning Chapter 16 Basic Retirement Plans Chapter 13 Individual Income Tax Planning Chapter 14 Business Entities [FOR PFP INVESTMENT PORTFOLIO HAND OUT ASSESSMENT RECOMMENDATIONS DUE ] [FOR PFP DISCUSS RETIREMENT PROJECTIONS BASE SCENARIO + RECOMMENDATIONS] Class # 13 Monday, November 19, 2012 Chapter 13 Individual Income Tax Planning Chapter 14 Business Entities [FOR PFP FINAL PLAN DUE!!] 5

6 Class # 14 Monday, November 26, 2012 FINAL EXAM Class # 15 Monday, December 3, 2012 Review Final Exam Class Evaluations Movie Inside Job 6