Master of Science in Financial Planning

Edward S. Ageno School of Business

In the spring of 2000, the Department of Finance and Economics at Golden Gate University introduced a new degree, the master of science in financial planning. This degree is designed for students who aspire to become financial planners, investment advisers or money managers, or who may be interested in one of the many elements - estate planning, insurance, taxes, real estate, for example - of this broad and rapidly-growing field. Golden Gate University has one of the oldest accredited programs in financial planning in the country, having offered our first courses more than 20 years ago. Now, with this new program, our students will have the opportunity to move into the 21st century equipped with the latest skills, with appropriate professional credentials, and with advanced academic degrees.

At the heart of this new degree is a core of courses that examine the key functions of financial planning: financial planning principles, income tax planning, risk management, estate planning, investments, and employee benefits and retirement planning. Not only do these courses provide the academic foundation of the discipline, they also satisfy the educational requirements necessary for the premier Certified Financial Planner™ designation; thus, students can prepare to sit for the CFP™ exam while they are earning an advanced academic degree in financial planning.*

All of the coursework necessary to complete the MS in financial planning is available via the internet, through Golden Gate University's innovative CyberCampus, as well as in traditional classroom settings. You may mix and match cyber-courses and classroom offerings to create schedules that are flexible and convenient.

The work of the financial planner is best viewed through a "quality of life" lens: how can one assist one's clients in achieving their life goals, in realizing their dreams? There are important technical issues to be addressed-What tax structure is best suited for my client? What asset allocation provides the desired risk/return profile?-but many of the critical questions have to do with the kind of life the client envisions, and how the client's emotional and psychological predispositions facilitate or obstruct (or both) the development of successful financial plans. Thus,

It is the overarching objective of the Master's degree in Financial Planning at Golden Gate University to ensure that our graduates have both the technical skills and the relationship skills to create and deliver financial strategies that will support their clients' progress towards their most important life goals.

• Graduates of the MS Financial Planning Degree program at Golden Gate University will possess the skills and knowledge of financial planning that are represented in the full range of topics covered by the CFP examination, including
• The general principles of the federal income tax system and the integration of state income taxes as they relate to individual taxpayers.
• Tools and techniques of estate and gift planning, philanthropy and the minimization of estate taxation.
• The investment management process, including asset allocation, modern portfolio theory, the risk/return trade-off, passive vs. active investing, tax efficient trading strategies and transaction costs.
• Risk mitigation needs of individuals, including but not limited to: property, liability, disability and life insurance. Students will be able to distinguish between product features, definitions and appropriate coverage. They will be able to calculate life and disability insurance needs analysis.
• Retirement planning and how to calculate a retirement needs analysis. They will understand current IRS and ERISA laws as they relate to qualified and non-qualified retirement plans.
• The various types of employee benefits, their advantages, limitations and taxation.
• Our students who choose to sit for the CFP exam will pass at a rate that exceeds the national average of all applicants, reflecting the careful attention that our curriculum pays to the topics covered by that examination.
• Our graduates will display the interpersonal skills necessary to maintain successful client relationships and to work effectively with colleagues, individually or in teams. In particular, they will
• Be familiar with the process of eliciting financial goals in the client interview process, identifying existing and/or potential issues in reaching those goals and then communicating recommendations to clients in written and oral format.
• Be aware of theories regarding the emotional and psychological traits that may affect the success of clients' financial strategies.
• Have begun to develop tools and techniques to assist clients in working through psychological barriers to successful plan implementation.
• Be able to communicate effectively, both orally and in writing, with clients and colleagues.
• Our students will develop the quantitative, analytical, and technical skills needed to address complex financial situations. They will
• Possess the basic quantitative skills of data collection, analysis, optimization, implementation and monitoring of a personal financial plan.
• Be able to identify the appropriate mathematical computations required in order to properly analyze a given financial planning issue.
• Be able to identify and analyze the impact of external socio-political-economic issues to a personal financial plan.
• Be familiar with the use of appropriate computer applications, including industry-specific software programs.
• Our graduates will be exposed to real-world applications of financial planning principles and practices via case studies and/or internships.
• Complex, integrative cases will be used to further students' understanding of the interrelationships among the various quantitative and qualitative elements of effective planning.
• Our graduates will be familiar with the principles of managing a financial planning practice. They will be knowledgeable about
• The profitability, cost structures and growth metrics of building a financial planning practice.
• The various fee and compensation structures of alternative financial planning practices.
• The technology and tools available to financial planning professionals.
• Quality control measures that they may employ in the management of their practices, as described in the CFP Board's Financial Planning Practice Standards.
• Our graduates will understand the legal and regulatory environment in which financial planning occurs and be familiar with relevant licensing, reporting, and compliance requirements.
• Our graduates will be able to recognize the ethical dilemmas that may arise in financial planning practice and will be familiar with appropriate responses to those dilemmas, as reflected in the CFP Board's Code of Ethics and Professional Responsibility.

The MS in financial planning degree requires completion of 30 units of advanced program course work, with a cumulative grade point average of 3.00 (B) or better in courses taken at Golden Gate University. Courses carry three semester units of credit unless otherwise noted. Individual foundation program courses may be waived if the student has previously completed comparable courses at a regionally accredited college or university. Students may be admitted to advanced program courses before completion of the entire foundation program, but must complete the foundation program by the time that twelve (12) units have been earned in the advanced program.

MATH PROFICIENCY REQUIREMENT

Students admitted to this program are expected to possess a level of mathematical skill at least equivalent to College Algebra (MATH 30) or Mathematics for Management (MATH 200).

COMPUTER PROFICIENCY

Applicants are expected to demonstrate a working familiarity with computers and software applications appropriate for graduate studies. Deficiencies in computer proficiency may require additional work as determined by the faculty.

FOUNDATION PROGRAM - 12 units
· ACCTG 201 Accounting for Managers
· ECON 202 Economics for Managers
· FI 203 Financial Analysis for Managers
· MATH 240 Data Analysis for Managers

ADVANCED PROGRAM - 30 units

Core Courses - 24 units
· FI 420 Personal Financial Planning
· FI 421 Personal Investment Management
· FI 422 Retirement & Employee Benefits Planning
· FI 425 Income Tax Planning
· FI 426 Estate Planning
· FI 430 Business Development in Financial Services
· FI 434 Cases in Financial Planning
· FI 483 Insurance Planning

Electives - 6 units
Any two 300- or 400-level graduate courses for a total of 6 units. FI 497 Internship: Finance may be taken for three (3) of these units.