Fundamentals of Financial Planning

Fundamentals of Financial Planning

Issued by Northern Arizona University

Earners of this badge will develop knowledge on the overview of the financial planning process and guidance for managing a client's risk while achieving goals through savings and investments. The student will gain an understanding of the role and responsibilities of a financial planner, along with some analytical skills to aid in financial decision-making.

Skills

Earning Criteria

  • 1. Explain the CFP Board’s Code of Ethics and Professional Responsibility and apply the Rules of Conduct. Explain the CFP Board’s Disciplinary Rules and Procedures and distinguish between the CFP Board’s disciplinary actions
  • 2. Describe the CFP Board’s Financial Planning Standards and integrate them in the development and communication of a client’s financial plan.
  • 3. Define and compare the function, purpose, and regulation of financial institutions.
  • 4. Demonstrate a comprehensive understanding of investment advisor regulation and the regulatory authorities that impact elements of the financial planning process.
  • 5. Describe consumer protection laws that impact clients.
  • 6. Discuss the fiduciary standard and understand its importance to the planner-client relationship.
  • 7. Describe the financial planning process and recognize unethical practices in the financial planning profession.
  • 8. Evaluate how a client’s attitudes, values, and biases will affect his/her goals and a planner’s recommendations. Apply the principles of behavioral finance, communication, and counseling.
  • 9. Identify sources of money conflict and communicate the importance of congruent family financial goals.
  • 10. Identify and evaluate crisis events with severe consequences. Communicate potential solutions to help clients navigate crisis implications.
  • 11. Analyze debt financing strategies and create client debt management plans.
  • 12. Perform education needs analysis and develop an education financing plan. Compare and recommend education savings vehicles and financial aid options.