AMERICAN FINANCIAL PLANNING INSTITUTE
(Division of PAR Enterprises, Inc. ............1-888-333-5PAR ............par@par-ent.com)
AFPI provides curriculum development and training facility administrative services to educational institutions that have met the CFP™ Board's educational and regsitration requirements. Such services encompass the identification of corporate/private client participants as well as providing qualified instruction at its satellite training facilities.
Courses are also offered on the application of financial calculators and review programs for participants preparing to sit for the CFP national comprehensive examination.
The CFP™ Certification
The CERTIFIED FINANCIAL PLANNER™ certification is the most recognized and respected certification in personal financial planning. This is both due to its rigorous educational and examination requirement as well as the demanding standards and Code of Ethics and Professional Responsibility that are administered and enforced by the Certified Financial Planner Board of Standards.
The national comprehensive examination is administered by the CFP Board 3 times a year at specific regional locations and will test a candidate’s knowledge and comprehension among specific competencies within the 89 topical areas that encompass personal financial planning as established by the CFP Board.
AFPI does not certify individuals to use the CFP™, CERTIFIED FINANCIAL PLANNER™, and CFP (with flame logo)® certification marks. CFP certification is granted only by the Certified Financial Planner Board of Standards, Inc. to those persons who, in addition to completing an education requirement,have met its ethics, experience, and examination requirements.
Courses contain all the subject matter that enables participants to acquire an understanding of the CFP Board's 89 topics.
The courses are taught at an upper division level or its equivalent. Each is presented as a 10-week course of 3 hours per session ( or approximately 30 class hours). Courses at the Stamford CT site are offered either in the evening or on Saturday mornings as applicable.
Course Descriptions
HP-12C/10B: FINANCIAL CALCULATOR & TIME VALUE CONCEPTS
A comprehensive primer which covers time value concepts, tools and procedures corresponding to the case methodologies and quantitative questions that are typical of the CFP™ certification examination.
PFP1 – FUNDAMENTALS OF FINANCIAL PLANNING
The course establishes the framework for the comprehensive personal financial plan inclusive of the ethical considerations and the CFP Board's Code of Ethics, and Professional Responsibility as well as a review of basic time value concepts. It covers the six step process encompassing identification of objectives, gathering and sources of information, preparation of client financial statements, processing and analyzing the data, recommending, implementing and monitoring the financial plan. It further treats the regulatory environment for financial planners as well as the economic and business cycles.
PFP2 – INSURANCE PLANNING AND RISK MANAGEMENT
The material covers the principles and features of risk management and all forms of insurance, inclusive of Property & Casualty ( Home Owners, Automobile, Comprehensive Personal Liability, Dwelling), Accident & Health ( Medical, Dental, Disability, Long term Care, Workers Comp, FSA’s, MSA’s, etc.), Life Insurance ( Term, Endowment, Whole, Variable, Universal, Adjustable, VUL) both group and individual. The material also covers the provisions Social Security as well as the case analysis for determining both the amount of insurance and the most appropriate form of insurance for a given client situation as well as the identification of the corresponding risk exposures.
PFP3 – INVESTMENT PLANNING
Participants learn how to assess the level of liquidity, marketability, risk and taxation of all investment vehicles within the investment pyramid. Participants study portfolio theory and construction. The application of Internal Rate of Return, NPV, Intrinsic Value among other tools are used to evaluate and value all forms of investments, bonds, stocks, derivatives and specialized nvestments( futures, metals, collectibles, real estate, currencies etc) . Market makers, government securities, money market instruments, investment companies, Capital Asset Pricing, Dividend Growth modeling and performance indices, inclusive of Treynor, Sharp, Jensen and related portfolio theory assessment tools are also covered.
PFP4 – INCOME TAX PLANNING
The material presented includes the Federal Income Tax formula and associated forms and schedules. Participants further learn the various tax planning strategies and tax management techniques. Also covered are the tax aspects and implications of various financial planning strategies, qualified and non qualified plans, different forms of business structures, transfer and disposition of property, installment sales, recognition of gains and losses, passive activity loss rules, classification of property, accelerated cost recovery rules, accounting methods, alternative minimum tax and family tax planning.
PFP5 – RETIREMENT PLANNING AND EMPLOYEE BENEFITS
The course provides a comprehensive treatment of the retirement planning process and associated case analysis. It familiarizes the participant with the design and regulations of all qualified plans both Defined Benefit as well as Defined Contribution plans. The material includes the various criteria for selecting the most appropriate retirement arrangement for a given client scenario. Additional attention is given to Non Qualified plans, executive capital accumulation, health care plans and other group welfare arrangements such as term insurance, disability income, AD&D, flex plans, IRA’s, SEP’,s 401(k), 403(b), 457 plans et al.
PFP6 – ESTATE PLANNING
The course covers the Federal Estate Tax calculation, the gross estate as well as the probate estate. Also covered are the effective use of trusts and wills, as well as gift taxes, the unified credit and transfer system, charitable transfers, intra-family business and property transfers, life insurance as an estate planning tool, and estate planning implications in community property states. Estate planning implications of IRA’s and other capital accumulation arrangements are also treated.
PFP7 – CASE STUDY AND ANALYSIS
The course is designed to integrate all of the required and learned competencies into a series of comprehensive case studies. Cases encompass client scenarios that test participant understanding of all aspects of the personal financial planning process as defined by the CFP Board and the 89 topics.
PFPR – REVIEW MODULE
A comprehensive six full day review program is offered three times each year, preceding each of the national comprehensive examinations. The six day program is offered on three consecutive Friday, Saturday weekends. All modules are reviewed extensively and a simulation CFP™ certification exam is administered encompassing questions previously included in the national CFP certification Exam. Test taking tips as well as effective use of the financial calculator and time value techniques are reviewed.