The School of Professional Finance GRADUATE DIPLOMA IN FINANCIAL PLANNING 2012 2013 Gateway to the Prestigious International Designation Certified Financial Planner professional The Institute of Bankers in Ireland A RECOGNISED COLLEGE OF UNIVERSITY COLLEGE DUBLIN
The School of Professional Finance 2012 2013 Graduate Diploma in Financial Planning are 139,800 CFP professionals in 24 countries around the world and this number is expected to continue growing at a steady pace. The Graduate Diploma in Financial Planning is a highly regarded postgraduate qualification aimed at those who wish to develop their financial planning knowledge and skills to the highest international standards. This is a joint initiative of the Institute of Bankers in Ireland, LIA and the Irish Tax Institute and is delivered by the Institute of Bankers School of Professional Finance. The Institute of Bankers in Ireland is a recognised college of University Requirements for becoming a Certified Financial Planner professional Financial Planning Standards Board Ireland (FPSB Ireland) requires that a candidate who wishes to become a Certified Financial Planner professional in the Republic of Ireland must, inter alia, College Dublin. Hold both the Qualified Financial Adviser (QFA) designation and The six modules on this programme are specifically designed to provide financial planners with the knowledge and understanding of the applicable regulatory requirements, the mechanisms and purpose of the main investment products and the ability to satisfy their individual clients financial planning and investment portfolio needs. This programme seeks to deepen candidates technical knowledge of areas such as asset, finance and risk management and provide the tools to develop effective mutually beneficial client the Graduate Diploma in Financial Planning Have successfully completed the certification examination of FPSB Ireland Have met the three-year experience requirement in Financial Planning as set out by FPSB Ireland Accept the Continuing Obligations for certification Commit to the ethics and standards required of CFP professionals relationships. Programme Outcomes On successful completion of the Graduate Diploma in Financial Planning candidates will be able to: For further information on CFP certification, visit www.fpsb.ie. Programme Structure The Graduate Diploma in Financial Planning is an 18 month programme consisting of six modules, delivered over three Employ the constituent disciplines underpinning financial planning, including investments, pensions, taxation and estate planning; semesters. For the academic year 2012 2013, commencing in September 2012, it is planned (subject to demand) to offer the programme in two locations: Apply the analytical, problem solving and decision making skills required to undertake complex and comprehensive financial planning; Evaluate economic, financial and other relevant data to create integrated financial plans; Dublin (IFSC), evenings - with lectures taking place on two evenings per week Portlaoise, day - with lectures taking place all day (10am - 5pm) every Monday Integrate a deep understanding of professional values and ethical issues with excellence in financial planning execution. Subject to operational constraints and academic requirements, candidates may opt to take either one or two modules each As well as being an educational award in its own right, the Graduate Diploma in Financial Planning also acts as a gateway to the prestigious international designation Certified Financial Planner professional. Gateway to Prestigious International Designation Certified Financial Planner professional semester. Candidates commencing in September 2012 (and taking two modules per semester) may, therefore, expect to complete the Diploma in January 2014. Successful candidates who wish to proceed to CFP certification will then have to meet the requirements laid down by FPSB Ireland, which include a final certification examination. CFP certification is the world s most widely respected financial planning designation and it marks the individual Certified Financial Planner professional as being knowledgeable, competent, ethical and professional to the highest global standards. At present there 2
The School of Professional Finance Year 1 Semester 1 (September 2012 to December 2012) Principles and Ethics of Personal Financial Planning Tax and Estate Planning Semester 2 (February 2013 to May 2013) Retirement Planning Asset Management Year 2 Semester 3 (September 2013 to December 2013) Financial and Risk Management Integrated Personal Financial Planning Module Overview Principles and Ethics of Personal Financial Planning Economic Concepts; Legal Concepts including Contract Company and Partnership Law; Time Value of Money Concepts and Calculations; Financial Planning Process; Regulatory and Ethical Environment; Assessment of Risk Tolerance; Soft Skills. Financial and Risk Management Personal Financial Ratios; Financing Strategies; Cash Flow Management; Financial Statements; Business Financial Statements; Personal Protection Needs; Temporary Insurance; Whole of Life Assurances; Serious Illness Insurance; State Ill Health Benefits; Savings and Investment Policies; Taxation of Policy Benefits; Legal Issues Regarding Life Insurance. Integrated Personal Financial Planning Fact-finding; Use of Financial Mathematics and Spreadsheets in Financial Planning; Segmented Financial Planning for Special Circumstances; Comprehensive Financial Planning; Multi-disciplinary Case Studies. Before registering for the Integrated Personal Financial Planning module candidates must have: 1. Successfully completed the four Year 1 modules and 2. Be currently registered for/have completed the Financial and Risk Management module Tax and Estate Planning Income Tax; Capital Gains Tax; Capital Acquisitions Tax (including taxation of gifts and inheritances); Succession and Estate Planning; Philanthropy; Fundamentals of Corporation Tax and Stamp Duty; International Issues. Retirement Planning Need for Retirement Provision; State Pensions; Personal Retirement Provision; Employer/Employee Pensions Schemes; Retirement Benefit Arrangements; Pension Fund Limits; Pension Fund Investment; Investment Restrictions; Marriage Breakdown and Pensions Adjustment Orders (PAO); Regulation of Pensions Arrangements; Other Employee Benefits; Fact-finding for Retirement Planning; Retirement Planning; Case Studies. Asset Management Role of Investment; Asset Classes; Investor Types; Investment Structures and Markets; Market Equilibrium; Fundamental Market Value; Derivatives; Efficient Markets; Risks - Types and Measurement; Modern Portfolio Theory; Behavioural Finance; Portfolio Management; Property Management; Alternative and Socially Responsible Investing; Portfolio Construction; Investment Management and Measurement. Who Should Undertake this Programme? This Graduate Diploma is ideal for Qualified Financial Advisers (QFAs), AITI Chartered Tax Advisers (CTA), Accountants, Business Graduates and other professionals who wish to enhance their knowledge and skills to postgraduate level. It will help them develop careers as professionals providing complex and wide ranging financial planning for their clients. Location The Graduate Diploma in Financial Planning is delivered by lectures in Dublin city centre and Portlaoise (subject to demand). Entry Requirements For entry to the programme candidates must have one of the following: Relevant Honours Business Degree, or Equivalent Relevant Professional Qualification (e.g. Qualified Financial Advisor (QFA) with three years relevant work experience, AITI Chartered Tax Advisers (CTA), Accountants, Solicitors and Barristers) For holders of the QFA Designation, the three years relevant experience must have been obtained in the banking and financial services industry. Candidates should have a basic working knowledge of Excel on commencing the programme. 3
The School of Professional Finance 2012 2013 Exemptions Holders of the AITI Chartered Tax Adviser (CTA) qualification are eligible to apply for an exemption from the Tax and Estate Planning module. If you wish to apply for this exemption, please indicate accordingly on the application form. (An administration fee of 55 is payable in respect of processing any exemption applications). Exemptions for Holders of Graduate Diploma Holders of the Graduate Diploma in Financial Planning will, on application, receive exemptions from the following modules from the Professional Diploma in Financial Advice: Investment, Life Assurance, Pensions and Financial Planning. Assessment Candidates are assessed by a combination of examinations and continuous assessment, based on assignments and case studies. Fees 1,025 per module, payable at the beginning of each semester. Tax relief may be available to candidates who are paying the programme fees in an individual capacity, further information on the tax relief is available at www.revenue.ie. Award Those who successfully complete this programme are awarded the Graduate Diploma in Financial Planning by UCD. This is a postgraduate qualification included on the National Framework of Qualifications at level 9 and carries 60 ECTS credits. Application Process Early applications are encouraged. An application form may be downloaded from the websites of the Institute of Bankers in Ireland (www.bankers.ie), LIA (www.lia.ie) or the Irish Tax Institute (www.taxinstitute.ie). The closing date for applications is Friday, 3rd August 2012. Applications received after this date will be considered on a first come, first served basis, if places are available. Further Information Further information may also be requested from the following: Institute of Bankers in Ireland (01) 611 6500 LIA (01) 456 3890 Irish Tax Institute (01) 663 1700 Student Testimonials Declan Kelly, AIB Bank Participation and completion of the Graduate Diploma in Financial Planning has been a very positive experience for me over the past two years, both from a professional and personal point of view. Being involved in the programme was a great opportunity to step back from my daily role and it afforded me the chance to look at my own job role in a fresh way. The programme, while challenging in many respects, was extremely worthwhile as it has improved my overall technical capability in dealing with clients. It has offered me the opportunity to think differently and it has enhanced my ability to bring more value to all interactions that I have with clients. Completion of the programme has also allowed me to sit the Certified Financial Planning exam and to become a Certified Financial Planner professional. I would have no hesitation in recommending this programme to others. 4
The School of Professional Finance Marie Bradley, Bradley Tax Consulting Pension planning and personal financial planning form a big part of my work, and I decided to undertake the Graduate Diploma in Financial Planning to improve my knowledge and skills in this area. I really enjoyed using the skills acquired to complete case studies - the facts of which were based on real life scenarios - which have relevance to my day to day role. I also benefitted from completing class assignments on issues relevant to the current global economic environment. As a tax adviser my service offering has been enhanced arising from the knowledge acquired by participating in the programme. Liam Mc Grory, Omac Life & Pensions Ltd I undertook the Graduate Diploma in Financial Planning to increase my knowledge and understanding of personal financial planning and to be in a better position to offer a more detailed service to clients. The modules are very relevant and I enjoyed attending lectures, working in project groups, researching product design and construction and working on case studies. This programme has provided me with the professional skill set to provide clients with the best possible service and the confidence to deliver that service in a structured manner. I would recommend this programme to anyone who provides, or would like to provide a holistic personal financial planning service to clients. 5
The School of Professional Finance 2012 2013 The Institute of Bankers in Ireland A RECOGNISED COLLEGE OF UNIVERSITY COLLEGE DUBLIN Founded in 1898, The Institute of Bankers in Ireland is the professional education body for bankers and financial services practitioners on the island of Ireland. The Institute is one of the oldest and most respected banking institutes in the world with over 33,000 members. The Institute of Bankers in Ireland is a recognised college of University College Dublin. The Institute of Bankers in Ireland (a company limited by guarantee and not having a share capital) Registered Office: 1 North Wall Quay, Dublin 1. Registered Number: 197171 LIA is the professional education association for financial advisers. With over 8,000 members LIA s mission is to improve the competence, standing and success of those who give and support financial advice. Over its 33 year history, LIA has achieved this by providing education, training and development for those working in the financial services industry. The Irish Tax Institute is the leading representative and educational body for Ireland s AITI Chartered Tax Advisers (CTA) and is the only professional body exclusively dedicated to tax. Its members provide tax expertise to thousands of businesses, multinationals and individuals in Ireland and internationally. In addition many hold senior roles within professional service firms, global companies, Government, Revenue and state bodies. The Institute is the leading provider of tax qualifications in Ireland, educating the finest minds in tax and business for over thirty years. The AITI Chartered Tax Adviser (CTA) qualification is the gold standard in tax education and the international mark of excellence in tax advice. A respected body on tax policy and administration, the Institute engages at the most senior levels across Government, business and state organisations. Representing the views and expertise of its members, this plays an important role in the fiscal and tax administrative discussions and decisions in Ireland and in the EU. CFP, CERTIFIED FINANCIAL PLANNER and are trademarks owned outside the United States by Financial Planning Standards Board Ltd. Financial Planning Standards Board Ireland Limited is the mark s licensing authority for the CFP Marks in the Republic of Ireland, through agreement with FPSB. 6