A Comprehensive Overview of Financial Planning is a comprehensive, modular, self study CPD Workbook for financial advisors. The focus of the content:
In addition to the content (refer to the summary of the contents for an overview of each chapter), the Workbook also has lots of questions and answers on each chapter.
When the Workbook is completed, the advisor has the option of writing a non-qualifying exam on the content, and the exam is marked remotely. Exam certificates are issued to those who successfully complete the passing requirements.
This Workbook represents 35 CPD self study hours.
The implications of marriage, separation and divorce: very important for you to understand the implications when doing a financial plan.
Focuses on the main types of insurance and their implications when making a financial plan. The types of insurance covered are life, disability, critical illness, long term care, and business insurance. Also, life insurance with respect to: needs analysis; protection products; common policy provisions and options that can be added; savings and investment products; pensions; and taxes.
The implications of inheritance tax, capital gains tax and other tax issues on formulating a financial plan.
The key elements of retirement planning and the implications that need to be considered from the perspective of financial planning. Includes retirement needs analysis, powers of attorney, living wills, state pensions, company pensions, personal pensions, divorce and pensions, tax and pensions, annuities.
The key elements of estate planning and the implications that need to be considered from the perspective of financial planning. Includes the implications of wills on estate planning, inheritance tax and estate planning, tax minimization and deferral prior to death, trusts and estate planning, plus much more).
The key elements of managing controllable assets, the factors that can affect them and the major implications that should be considered, again from the perspective of financial planning. Includes the importance of the asset mix, balancing risk and return, types of risk and tips for measuring and managing it, and tips for managing the asset mix.
Gives an overview of the industry and the industry's key players, and identifies the trends that indicate explosive growth is likely. Two sections that will be of major interest to all advisors are "A Code of Ethics and Standards of Conduct for Financial Advisors" and "Compliance Rules That Apply To Financial Advisors". These sections neatly pull together information rarely found in one convenient place.
Outlines the six step process for developing a financial plan for a client. There are a great deal of time saving and money-making ideas in this chapter. Step 1 Initial Interview: highlights the importance of getting a letter of agreement or contract signed. Step 2 Fact Finding lays out in detail the type of information that you need from your client in order to formulate a financial plan; through to Step 6 Plan Monitoring and Review.
This is a complete chapter on Step 3 of the process for developing a financial plan. It focuses on two major pieces of financial information that you can pull together from the fact find: a Net Worth Statement and an Income and Expenditure Statement (current and projected). We show you how to prepare these documents, how to use the information, and how to determine the savings needed to achieve the client’s financial goals.
Focuses on the client’s financial objectives, time horizons and liquidity needs, finding the balance between income and growth strategies, determining the client’s tolerance for risk, and where the client is in his or her investment life cycle. A definite don’t miss chapter!
The factors in the marketplace that can affect residential mortgages and the implications that a mortgage can have on a financial plan.
This is intended to give you the basics that you need to know (without the 'legalese') about contracts, the concept of agency (including an advisor as an agent); fiduciary relationships (like you have with clients), negligence, plus other key legal factors that can impact on your client, your relationship with your client, and the financial plan for your client.