This course covers the fundamentals of financial planning from a holistic and international perspective. It builds the knowledge and skills necessary to conduct financial planning to high professional and ethical standards.
It starts within an overview of financial planning within a global context against a backdrop of international markets. It illustrates the essence and importance of financial planning and how to instil this via client awareness and education.
Through paired role play and simulations delegates are guided through the 6 step financial planning process from fact finding to presenting solutions and delivering recommendations.
The second part, financial planning solutions focuses on the key products to meet and achieve clients’ financial planning needs. It highlights the importance of understanding financial protection needs and a comprehensive overview of the main products including business protection. Retirement planning is examined in light of socio-economic factors. The characteristics of different type of pension schemes both occupational and private are covered. Followed by how to evaluate a client’s pension plans and analyse their retirement planning shortfalls. The critical role of investment planning within a client’s financial planning is examined. This covers the different asset classes, collective investments and different types of funds. Delegates will learn the basics of investment analysis and core investment management theories. How to structure an investment portfolio optimised for client’s attitude towards risk and achieving their investment goals. Accounting for their growth and increasing role in global markets, the essence, ethics and differentiation factors of sharia compliant investments are also covered.
At the heart of this course is putting the interests of clients first and adopting high levels of professionalism to globally recognised standards. The final part covers integrity and ethics in professional practice followed by industry regulation.
COURSE KEY TAKEAWAYS
- Understand the essence and role of financial planning as an integral part of the global financial services industry.
- Develop a holistic approach to the financial planning decision-making process based on economic, financial and investment principles.
- How to communicate effectively with clients and deliver coherent financial planning solutions and recommendations to meet client’s financial goals and investment expectations.
- Develop a broad expertise across all key financial planning products and solutions and be familiar with their benefits, limits and constraints.
- Create a multi-level risk awareness and appreciation encompassing product and investment risks, client preferences and attitude to risk and inherent business risk that applies to running a financial planning business. The key aim of the latter is to reduce regulatory risk, avoid misselling and complaints.
WHO SHOULD ATTEND?
Prospective financial planners and para planners as well as wealth managers who wish to develop their knowledge and understanding of financial planning and advice. Existing financial advisers who wish to refresh or deepen their financial planning knowledge and develop their skills.
FINANCIAL PLANNING PROFESSIONAL CERTIFICATION
The CISI is the largest and most widely respected professional body for the securities and investment industry in the growing number of financial center’s globally. With the highest standards of professionalism , CISI Offers the following three elements in the wider financial services area:
Knowledge, Skills and Behavior.
Formed in 1992 by London Stock Exchange practitioners, CISI has a global community of more than 40,000 members in 121 countries, where more than 41,000 exams were sat in the 2015 calendar year.
- Length 5 days
- Level Intermediate
- Industry Financial Services
- Prerequisites None
- Association CISI - Chartered Institute for Securities & Investment
- Language English
- This program is worth 35 NASBA CPE credits
PART 1 – The Financial Planning Process
1. Financial Planning Fundamentals
2. Financial Planning Assumptions
3. Step 1: Establishing the Client-Planner Relationship
4. Step 2: Collect the Client’s Information
5. Step 3 Analyze the Client’s Financial Status
6. Step 4: Developing and Communicating Financial Planning Recommendations
7. Step 5: Implement Financial Planning Recommendations
8. Step 6: Review the Client’s Situation
PART 2 – Financial Planning Solutions
1. Financial Protection – Managing Life’s Risks
- CONSUMER AND RETAIL MARKET FACTORS AND TRENDS RELEVANT TO FINANCIAL PROTECTION
- PROTECTION NEEDS
- LIFE ASSURANCE AND PENSION-BASED POLICIES
- INCOME PROTECTION
- CRITICAL ILLNESS PROTECTION
- LONG-TERM CARE PROTECTION
- INSURANCE-BASED PROTECTION
- SELECTING APPROPRIATE PROTECTION SOLUTIONS
2. Retirement Planning
- PENSION PROVISION IN THE CONTEXT OF POLITICAL, ECONOMIC, LEGAL AND SOCIAL ENVIRONMENT FACTORS DEFINED
- BENEFIT (DB) AND DEFINED CONTRIBUTION (DC) SCHEMES
3. Investment Planning
- ASSET CLASSES & COLLECTIVE INVESTMENTS
- INVESTMENT ANALYSIS
- INVESTMENT MANAGEMENT THEORY AND APPLICATION
- PORTFOLIO CONSTRUCTION THEORIES
- INVESTMENT ADVICE PROCESS
4. Financial Planning Based on Islamic Principles
- ISLAMIC ASSET CLASSES
- ZAKAT ON INVESTMENTS
- SHARIA COMPLIANT WILLS AND ESTATE PLANNING
PART 3 – Professional Conduct, Ethics and Regulation
1. Integrity and Ethics in Professional Practice
- PROFESSIONAL ETHICS
- CODES OF ETHICS AND CODES OF CONDUCT
- PROFESSIONAL INTEGRITY AND ETHICS
2. Industry Regulation
- FINANCIAL SERVICES REGULATION
- FINANCIAL CRIME