Personal Financial Planning Process

Overview

This CPE course can be purchased individually or as part of the PFP Practical Applications Certificate Program.

Personal financial planning is a process with multiple steps requiring a disciplined approach to gathering data and responding to scope limitations and conflicts of interest. Each step in the PFP process has the potential to change the direction of the engagement.

In this audiovisual CPE course, Tom Tillery covers elements of the overall planning process, including:

• Gathering data
• Establishment of financial objectives
• Identification of constraints

This course also covers The Statement on Standards in Personal Financial Planning Services (SSPFPS) No. , and the seven steps in the PFP process.

Finally, you'll also gain a deep knowledge of the spending plan and the statement of financial position, documents you'll need to understand to be able to best serve your personal financial planning clients.

Prerequisites

Basic knowledge of the areas of personal financial planning (PFP)

Designed For

Who Will Benefit

• CPAs and financial planners with basic knowledge of personal financial planning and an interest in estate planning.

Objectives

Learning Outcomes

• Recognize the steps in the personal financial planning process.
• Select the step in the personal financial planning process that defines the client's responsibilities.
• Recall the requirements of the Statement on Standards in Personal Financial Planning Services No. 1, in the case of a conflict of interest.
• Identify the step in the personal financial planning process that addresses scope limitations.