Syllabus for Financial Planning Applications | AAEC 4134, Study notes of Agricultural engineering

Download Syllabus for Financial Planning Applications | AAEC 4134 and more Study notes Agricultural engineering in PDF only on Docsity! AAEC 4134: Financial Planning Applications Spring 2011 Instructor: Ruth Lytton Secretary: Lisa Blankenship 204 Latham Hall 306B Hutcheson Hall 540-231-6678 540-231-6921 rlytton@vt.edu Office Hours: Send me 2-3 available times in your schedule; I’ll promise to meet one of them. NOTE: All exterior Latham Hall doors LOCK at 5:30. If we have a meeting past that time, come to the 2nd floor of Smyth Hall. At the end of the hall Smyth joins Latham via double doors and a short hallway. My office is just around the corner in Latham. I will meet you at the door between Latham and Smyth Halls. Course Description Integration of financial planning content in the resolution of client situations in the context of ethical and compliant workplace practices. Utilizes a case analysis approach applying financial planning processes and procedures. PRE: 3104, 4104, FIN 3144, 3204, or co-requisites FIN 4004 or ACIS 4344 or permission of the instructor. (3H, 3C) Course Objectives Having successfully completed this course, the student will be able to: 1. Apply and explain the processes and procedures of financial planning in the resolution of the client’s needs and goals. 2. Demonstrate the ability to analyze, synthesize, and evaluate financial planning situations for an individual, household, or small business owner. 3. Synthesize and integrate knowledge drawn from other courses in the financial planning option into cohesive and defensible client recommendations. 4. Comprehensively integrate financial planning content areas into the development of a financial plan that meets specific client needs. 5. Utilize oral, written and graphic communication and presentation skills appropriate to the client to summarize the financial planning situation and present recommendations. 6. Demonstrate an understanding of the ethical and compliance issues that exist in the financial services workplace. Textbooks The Process of Financial Planning: Developing a Financial Plan (2006), R. H. Lytton, J. E. Grable, D. D. Klock, The National Underwriter Co. (Referred to in the syllabus as LGK) ISBN: 087218669 The Case Approach to Financial Planning: Writing a Financial Plan (2008), J. E. Grable, D. D. Klock, R. H. Lytton, The National Underwriter Co. (Referred to in the syllabus as GKL) ISBN: 0-87218-669-5 Text readings should be completed prior to the assigned night for discussion. I reserve the right to do unannounced quizzes if it appears you are coming to class unprepared to fully engage in the planned activities. I also suggest that you regularly read the business/money section of a major newspaper (The Wall Street Journal; USA Today; etc.), as well as industry publications such as: Investment News, http://www.investmentnews.com/apps/pbcs.dll/frontpage Journal of Financial Planning http://www.fpanet.org/journal/ Financial Advisor http://www.fa-mag.com Financial Planning http://www.financial-planning.com Investment Advisor http://www.investmentadvisor.com Bloomberg’s Wealth Manager http://wealth.bloomberg.com Assignments I will try to have all handouts and assignments posted on Scholar in a timely manner; however, some assignments will be made orally in class or will require you to do research to complete. Your principal and/or clients of the firm typically will not make requests or give assignments in writing, nor will they always give you all of the needed information. It will be up to you to interpret oral directions, find missing information (or make and document assumptions) and proceed as a professional – without an exact set of written instructions. This class will be conducted as a senior-level seminar – it is NOT a lecture course. In addition to mini-lectures, the course will include discussion of the cases/problems assigned, quizzes, and the implications of the weekly topic for the analysis and preparation of a financial plan. Discussion of the content, cases, and analysis of the example plan sections are important elements for mastering the content and the skills to prepare a comprehensive plan. Also, effective communication skills – both oral and written – are essential professional skills. Therefore, active class participation and preparation will be considered in determining final grades. Bottom line: if you lack the professionalism to come to class prepared and committed to fully participating as a member of the team, please respect your classmates and do not come! You will be asked to evaluate the work (written or oral) of your classmates. Take that role seriously—it is part of professional practice and ethical conduct. Honor System The Honor Code will be strictly enforced in this course. All assignments submitted shall be considered graded work, unless otherwise noted. All aspects of your coursework are covered by the Honor System. Any suspected violations of the Honor Code will be promptly reported to the Honor System. Honesty in your academic work will develop into professional integrity. The faculty and students of Virginia Tech will not tolerate any form of academic dishonesty. ALL WORK IS TO BE COMPLETED INDEPENDENTLY, unless EXPLICITLY STATED BY THE INSTRUCTOR or ASSIGNMENT INSTRUCTIONS 2 Implications/applications for the plan section Mar 2 Life Insurance Planning– GKL, Ch. 5 Life, Disability Determining needs Bedos FF Taxation of insurance products Implications/applications for the plan section Health Insurance Planning – GKL, Ch. 6 Determining needs Taxation of insurance products Implications/applications for the plan section Disability Insurance Planning – GKL, Ch. 7 Determining needs Taxation of insurance products Implications/applications for the plan section Take-Home Essay Exam 1 Due by Fri., March 4, 5:00 p.m. Spring Break Mar 16 LTC Insurance Planning – GKL, Ch. 8 Determining needs Taxation of insurance products Implications/applications for the plan section Property & Liability Insurance Planning – GKL, Ch. 9 Important planning needs Implications/applications for the plan section Mar 23 Investment Planning – GKL, Ch. 10 Assets (cash equivalents, stocks, bonds, mutual funds, real estate, etc.) Theory of Portfolio Construction Diversification, Asset allocation strategies Taxation Implications/applications for the plan section Mar 30 Education Planning – GKL, Ch. 11 Determining needs Planning tools (characteristics, taxation, advantages, disadvantages) Implications/applications for the plan section INTEGRATION….cash flow tracking, I & E, balance sheet for the Bedos April 6 Retirement Planning – GKL, Ch. 12 Bedos Retir, Est FF Retirement plans (IRAs, 401(k), SEP, SIMPLE, etc.) 5 Determining needs Distribution options and taxation Implications/applications for the plan section April 13 Work session with faculty consultants  Johnsen, Insurance quotes  Klock, TVM and plan ideas  Lytton, IPS Advisor Pro  Plans for review April 20 Estate Planning – GKL, Ch. 13 Tools (wills, POAs, trusts, etc.) Strategies for use and tax implications Determining needs Implications/applications for the plan section Plans due Friday, April 22 The Profession of Financial Planning April 27 Ethics, Laws, & Regulation in Financial Planning -- LGK, Ch. 2 CFP Board of Standards: Practice Standards, Code of Ethics, Disciplinary Rules & Procedures Read and report: What’s the latest news? May 4 Marathon class – presentation of plans and discussion Friday, May 6: Special Needs Paper Due May 9, Monday FINAL EXAM, 7 – 9 p.m. 6