B.S. Financial Planning

B.S. Financial Planning Program Information

Available online at Franklin University .

Financial planning is the development of strategies to assist individuals and small business owners who wish to manage their financial affairs, and to meet specific goals or objectives. This process involves reviewing all relevant aspects of a client's current situation, performing financial analyses, and designing a comprehensive financial plan that meets stated needs.

Financial planning, and the major in the field, consists of six major components: personal financial planning; investment and wealth management; income tax planning; risk management and insurance; employee benefits; retirement planning; and, estate planning. A financial planning professional should master each of these areas, and be able to create comprehensive financial plans for individuals and businesses. Graduates of the program will be prepared for a variety of career paths in this growing specialized business discipline.

The University's Financial Planning major is registered with the Certified Financial Planning (CFP) Board of Standards. At completion of the program, students will have satisfied the education requirement for attaining CFP Certification, and be eligible to sit for the CFP Certification Examination.

Curriculum & Course Descriptions

124 Semester Hours
Fundamental General Education
English Composition
ENG 120 - College Writing (4)

In this course, students acquire the writing competencies necessary for completing analytical and argumentative papers supported by secondary research. A variety of assignments, beginning with personal reflections, build upon one another, as students develop ideas that respond to, critique, and synthesize the positions of others. Students systematize and organize knowledge in ways that will help them in all their courses. The course also emphasizes the elements of critical reading, effective writing style, appropriate grammar and mechanics, clarity of language, and logical and cohesive development. It culminates in submission of an extended, documented research paper.

Mathematics
MATH 215 - Statistical Concepts (4)

This course introduces you to statistics with applications to various areas. The course covers both descriptive and inferential statistics. Topics included are: sampling techniques, data types, experiments; measures of central tendency, measures of dispersion, graphical displays of data, basic probability concepts, binomial and normal probability distributions, sampling distributions and Central Limit Theorem; confidence intervals, hypothesis tests of a mean, or a proportion for one or two populations, and linear regression.

AND

Choose either MATH 140 Introduction to Quantitative Reasoning or MATH 150 Fundamental Algebra as the prerequisite. Course can count as a University Elective.

Social and Behavioral Sciences
ECON 220 - Introduction to Macroeconomics (4)

An introduction to economic theory involving the basic underlying causes and principles of the operation of an economic system. Emphasis is placed on studying the economy as a whole. Issues of inflation, unemployment, taxation, business cycles and growth are discussed in the context of the global economic system.

AND

2 credits from the following types of courses:
Choose from the Anthropology, Geography, History, Political Science, Psychology, or Sociology disciplines.

Science

6 credits from the following types of courses:
Two courses from the Science discipline. One course must have a lab component.

Arts & Humanities
HUMN 210 - Intro to Logic & Critical Thinking Skill (2)

The goal of this course is to help you improve as a critical, logical thinker. You will be introduced to the art of formulating and assessing arguments according to the standards of logical thinking and critical analysis. You will discover how to apply these valuable skills to your studies and everyday life, learning how to overcome obstacles to critical thinking, and how to avoid being deceived by means of misleading reasoning.

AND

4 credits from the following types of courses:
Choose from the Art, English Literature, Fine Arts, Humanities, Music, Philosophy, Religion or Theater disciplines.

Additional General Education
PF 121 - Basic Learning Strategies (2)
This course prepares students to be successful lifelong learners both academically and in their chosen careers. Franklin courses require a high level of self-directed learning and focus on the skills required in the workplace and the classroom that are easily transferrable between the two environments. The course includes strategies for time management, goal setting, reading comprehension, and advancing communication skills, including the use of electronic tools to participate in virtual environments.
OR PF 321 - Learning Strategies (2)
This course prepares students to be successful lifelong learners both academically and in their chosen careers. Franklin courses require a high level of self-directed learning and focus on the skills required in the workplace and the classroom that are easily transferable between the two environments. The course includes strategies for advancing communication skills, including the use of electronic tools to participate in virtual environments. The assignments and activities in the course are created to closely simulate teamwork found in the workplace.

AND

COMM 150 - Interpersonal Communication (4)
By using applied critical and creative thinking, students in this course will develop a set of communication skills that will enhance their personal and professional relationships and endeavors. This course will focus on skill development in key areas such as self, perception, listening, verbal messages, conversations, relationships, conflict management, persuasion, and presentation skills.
OR SPCH 100 - Speech Communication (4)
This basic public-speaking course intends to improve the student's ability to think critically and to communicate orally. Theory and practice are provided in various speaking situations. Each student is required to speak before an audience, but class work also involves reading, gathering and organizing information, writing, and listening.

AND

PF 106 - Introduction to Spreadsheets (1)

This course focuses on using spreadsheets to solve business problems.

AND

3 credits from the following types of courses:
Any General Education course at the 100 or 200 level

Major Foundational
ACCT 202 - Financial/Managerial Acct for Non-Majors (4)

This course is an introduction to financial and managerial accounting. It is designed for non-accounting majors. Financial accounting emphasizes how general purpose financial statements communicate information about the business's performance and position for users external to management. It emphasizes how the accountant processes and presents the information. The course also examines the major elements of the financial statements. The managerial accounting portion of the course studies internal reporting and decision-making. The course assists those who wish to learn "what the numbers mean" in a clear, concise and conceptual manner without focusing on the mechanical aspects of the accounting process.

BSAD 220 - Business Law (4)

A study of the everyday legal problems encountered in business with emphasis on the areas of legal procedure, contracts, agency, employment law, business organizations and torts, with cases relating to these and other areas.

ECON 210 - Introduction to Microeconomics (4)

An introduction to economic theory involving the examination of how decision making by firms and individuals is shaped by economic forces. Emphasis is placed on demand, supply, market equilibrium analysis, and basic market structure models. The invisible hand as the driving force for economic decisions as well as market externalities are discussed. The class concentrates on providing a balanced approach to studying economic agents' behavior and the global implications and outcomes.

FINA 301 - Principles of Finance (4)

This course is designed to survey the field of finance and provide the foundation for more advanced finance coursework. Topics include sources of business and financial information, financial statement analysis, the time value of money, the nature and measurement of risk, financial institutions, investments and corporate finance.

MGMT 312 - Principles of Management (4)

This course explores the basic concepts and processes of management. Students will explore the functional roles and processes of planning, leading, organizing, and controlling comprising the manager role. Students develop skills related to the manager function that are required in today's competitive environment.

MKTG 300 - Marketing (4)

Learn the core concepts of marketing and apply them by drafting a basic marketing plan. Build your marketing vocabulary, sharpen your strategic thinking, and take your first hands-on step toward becoming a marketing professional.

AND

Completion of ACCT 215 - Financial Accounting & ACCT 225 - Managerial Accounting can fulfill the ACCT 202 requirement.

Major Area Required
FPLN 300 - Principles of Financial Planning (4)

An introduction to personal financial planning. Topics include the financial planning process, money management and investments, insurance needs, income tax planning, retirement planning and estate planning. Cases are used to illustrate important planning concepts, techniques and issues.

FINA 405 - Investments (4)

An examination of investment markets, transactions, planning and information. Topics include investment risk and return measures, debt and equity instruments, evaluation techniques, hybrid and derivative securities, mutual funds, real estate investments, tax planning and the investment process, and portfolio management.

FPLN 430 - Tax Planning (4)

An introduction to federal income taxation and the role of the tax code in financial planning for individuals, businesses, and business owners. Topics include the tax environment, fundamentals of income tax planning, the measurement of taxable income, the taxation of business income, individual income taxation, and the tax compliance process.

FPLN 440 - Risk Management & Insurance Planning (4)

An introduction to the techniques and issues of risk management and insurance for businesses and individuals. Topics include legal principles in risk and insurance, insurance contracts, personal property and liability risk, life and health risks, social insurance, insurance companies and product markets, insurance pricing, insurance taxation, government regulation of insurance, and professional ethics and market conduct.

FPLN 450 - Retirement Savings & Income Planning (4)

This course is an introduction to retirement planning concepts, procedures, and issues for individuals, businesses, and business owners. Topics include understanding and evaluating client retirement objectives, qualified and non-qualified retirement plans, tailoring retirement plans to client needs, funding retirement plans and investing plan assets, retirement planning for individual clients, post-retirement monetary needs, tax considerations in retirement planning, and retirement plan distributions.

FPLN 460 - Estate Planning (4)

An introduction to the principles and techniques in estate planning. Topics include the use of living and testamentary trusts, joint ownership of property, life insurance, charitable dispositions, inter vivos gifts, and the marital deduction to efficiently conserve and transfer wealth, consistent with the client's goals. Note, this course has proctored exam(s).

FPLN 495 - Financial Plan Development (4)

This course is designed to provide a capstone experience, challenging students to apply financial planning techniques, procedures, and practices to actual problems and cases. The primary objective of this course is to provide you with the opportunity to integrate all the financial planning skills and knowledge obtained in the previous core courses, as well as effectively utilize and apply these skills in real-life situations. There are two major parts of this course. You will work on cases that focus on planning for individuals and families. You will sharpen your skills by conducting different types of planning for various types of client households, such as planning for younger households, elderly households, households with special needs, households with a surviving spouse, and households with couples with previous marriages. You will also plan for self-employed clients based on specific areas in each case provided.

Major Electives

At least 8 credits from the following courses:

ACCT 411 - Tax Practicum (1-4)
This course provides students with a real world work experience opportunity that allows students to interact with taxpayers in completing and filing their income tax returns through the VITA (voluntary income tax assistance) program administered by the Internal Revenue Service (IRS). This supervised work experience in tax return preparation mirrors the tax practice in small accounting firms. In addition, it provides an opportunity for students to demonstrate a commitment to providing community service. Students undertake an intensive course delivered in a series of modules preparing participants to complete tax forms for individuals. Students must successfully pass the IRS VITA volunteer tax preparer exam. Students then are responsible for maintaining the professional requirements of the established tax practice. Tax returns are computerized and electronically filed. Professional skills are emphasized.
CJAD 420 - Cybercrime (4)
Most assets escape exploitation not because they are impregnable but because they are not targeted. (Herley, 2014 p.70) Cybercrime is perpetrated all over the world and results in tremendous financial loss to many individuals, businesses, and countries of the World. This course sets out to accomplish several learning outcomes but also to develop a level of literacy about cyber related crime that will help to diminish or mitigate the problems associated with these types of crimes. The awareness of cybercrime-related activity as it pertains to your everyday life is important to your ability to navigate away from this serious criminal activity that is just beginning to grip our society. This course is designed as a literacy course and although it has critical terminology is not fundamentally a computer forensics or technical course. Herley, C., (2014). Security, Cybercrime, and Scale. Communications of the ACM, 57,(9). DOI:10.1145/2654847
ENTR 395 - Foundations of Entrepreneurship (4)
Foundations of Entrepreneurship is an introductory course that examines the theory, practice, and tools of entrepreneurship. Various entrepreneurship structures and how such structures result in different unique pathways to success are explored. Students will focus on the importance of developing an entrepreneurial mindset as they assess their individual values and determine their affinity for entrepreneurial thinking, while also reviewing the risks and rewards of entrepreneurial businesses in the context of their chosen entrepreneurial philosophy. Finally, students will identify and evaluate opportunities for new ventures, and consider a strategic approach for successful business plan development.
FINA 340 - Money, Banking, & Financial Markets (4)
This course provides an overview of the financial system. The roles of money, financial intermediaries, financial markets, and central banks are discussed in the context of global economy.
FINA 450 - Global Finance (4)
Global Finance is an examination of financial management in the global economy. Topics include international financial markets, exchange rates, interest rates and inflation, exchange rate risk management, working capital management, capital budgeting, country risk analysis, long-term financing, and global strategic planning.
FPLN 410 - Financial Planning Internship (1-4)
This course provides qualified students with an opportunity to receive academic credit for supervised professional training and experience in an actual work environment. This Internship is an ongoing seminar between the student, the faculty member and the employment supervisor. It involves an Internship Application and Learning Agreement, periodic meetings with the faculty representative, professional experience at a level equivalent to other senior-level courses and submission of material as established in the Internship Application and Learning Agreement. Participation cannot be guaranteed for all applicants.
FPLN 499 - Independent Studies in Financial Planning (1-4)
Independent studies courses allow students in good academic standing to pursue learning in areas not covered by the regular curriculum or to extend study in areas presently taught. Study is under faculty supervision and graded on either a Pass/No Credit or a letter grade basis (See the "Independent Studies" section of the Academic Bulletin for more details).
MKTG 345 - Social Media Marketing (4)
Learn how to plan and run social media campaigns that support real business goals. You?ll work with tools like blogs, wikis, podcasts, and social networks to create a social media marketing plan. In a hands-on simulation, you?ll make real-time decisions and see the results of your strategy.
BUSA 200 - Database Fundamentals (2)
This introductory course focuses on applying information technology to business strategies using databases. The student will gain a working knowledge of current database technology, including relational database concepts, database design, data extraction, and data warehousing while working with database applications.
DATA 300 - Introduction to Analytics (4)
This course introduces the fundamentals of Business and Data Analytics with practical applications, including an AI Augmented Analytics framework. Students will learn business problem framing, data wrangling, descriptive and inferential statistics, data visualization, and data storytelling in analytics.
ACCT 215 - Financial Accounting (4)
This course is an introduction to accounting, emphasizing how general-purpose financial statements communicate information about the business corporation's performance and position for users external to management. Approximately one third of the course emphasizes how the accountant processes and presents the information and includes exposure to recording transactions, adjusting balances and preparing financial statements for service and merchandise firms according to established rules and procedures. The balance of the course examines major elements of the statements such as cash, receivables, inventory, long-lived assets, depreciation, time value of money, payroll, bonds, and other liabilities and stocks. Concepts of this course are applied to ACCT 225 (Managerial Accounting). Students are advised to avoid any time lapse between these two courses.
ACCT 225 - Managerial Accounting (4)
The study of management accounting for internal reporting and decision-making. The course introduces a business-management approach to the development and use of accounting information. Major topics include cost behavior, cost analysis, profit planning and control measures. Accounting for decentralized operations, capital budgeting decisions, and ethical challenges in managerial accounting are also covered.
RMI 330 - Life & Health Insurance (4)
This course analyzes the uses of individual and group life and health insurance to manage the financial risks that illness, incapacity, and death pose to individuals and organizations. It includes a review of various health and life insurance products and their utility in addressing specific needs and situations, as well as the underwriting and operational mechanisms that insurers employ in providing such products.
RMI 420 - Commercial Lines Property & Casualty Insurance (4)
This course focuses on the core principles underlying and potential applications for commercial lines property and casualty insurance as a risk management tool. Emphasis is placed on analyzing various types of property and casualty insurance products for businesses, contracts involved in such products, and considerations of both the insurer and the insured in identifying suitable P & C insurance products for mitigating specific business risks.
RMI 450 - Personal Lines Property & Casualty Insurance (4)
This course focuses on the core principles underlying and potential applications for personal property and casualty insurance as a risk management tool for families. Emphasis is placed on analyzing various types of personal property and casualty insurance products such as auto, homeowners', and watercraft, as well as insurance for "toys" such as four-wheelers and travel trailers. It also addresses personal lines profitability and pricing as well as portfolio management.
University Electives

28 credits from the following types of courses:
Any undergraduate courses offered by the University except developmental education courses.

Additional Requirements

All students are required to pass College Writing (ENG 120), and either Basic Learning Strategies (PF 121) or Learning Strategies (PF 321) prior to enrolling in any course at the 200 level or above. Students who enroll at Franklin with 30 or fewer hours of transfer credit are required to pass PF 121 Basic Learning Strategies in place of PF 321 Learning Strategies. Interpersonal Communication (COMM 150) or Speech Communication (SPCH 100) must be taken prior to enrolling in any course at the 300 level or above. Students must also meet the University algebra competency requirement.