Financial Planning

Demonstrate expertise with advanced professional issues in personal financial planning, including regulatory compliance, investment, retirement, risk management, insurance, tax and estate planning. (Knowledge Base) a. Describe key concepts, principles, personal tax rules, and overarching themes in financial planning. b. Apply financial planning techniques such as the time value of money concept, debt management, and counseling. c. Recognize the unique planning needs for higher education and medical expenses.

Understand financial services regulations and apply CFP Board Financial Planning Practice Standards. (Ethics and Rules) a. Understand and apply CFP certification requirements, CFP Board's Code of Ethics and Professional Responsibility and Rules of Conduct. b. Recognize the fiduciary responsibly of financial planners. c. Follow financial services regulations and requirements and develop ethical behaviors.

Establish the relationship with a client, gather client data, and effectively communicate with the client. (Communication) a. Demonstrate competence in writing, oral, and interpersonal communication skills. b. Write a cogent evaluation report, present information to the client, and engage in discussion of financial planning issues. c. Develop flexible interpersonal approaches that optimize information exchange and relationship development.

Analyze and evaluate the client's financial status, personal values, and family priorities. (Analysis) a. Critically explore issues and ideas, consider evidence, and analyze assumptions before accepting or formulating an opinion or conclusion. b. Evaluate the impact of economic, political, and regulatory issues with regard to the financial plan. c. Demonstrate the ability to use logic and reasoning to identify the strengths and weaknesses of various recommendations.

Develop comprehensive plans, present financial planning recommendations, and implement financial plans. (Plan Development and Implementation) a. Synthesize and integrate complex topics into cohesive and defendable recommendations. b. Produce a comprehensive financial plan, present alternatives to the client, and express recommendations with clarity. c. Implement the financial planning recommendations and monitor the progress.