About Online Courses for Personal Financial Planners
Taking online courses can be a convenient and cost-effective way to further one's knowledge. Many institutions offer courses that can help a student become a Certified Financial Planner (CFP). Students who are not seeking certification may still wish to take a course or two within a financial-planning program, out of personal interest or for continuing education.
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Significance
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Personal financial planners can advance their careers, gain clients and increase their available job opportunities by becoming certified. To become a Certified Financial Planner, a student must have a bachelor's degree, complete courses within a program that is registered with the CFP Board of Standards and pass a CFP exam. The official website of the Certified Financial Planner Board of Standards (linked to in Resources) provides a list of schools that offer online courses that meet their requirements.
Types
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Some online financial-planning courses are offered by companies that specialize in online-only education, such as the Boston Institute of Finance and the College of Financial Planning. Traditional colleges may also offer online courses and certificates, such as the University of California, Irvine's extension program in personal financial planning. Online-only institutions tend to offer more flexible schedules than traditional programs, while established universities may offer better name recognition among potential clients or employers.
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Time Frame
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Online courses for personal financial planners vary as to their duration, how many courses are required to complete a program and how soon students can enroll. For example, the Boston University Online Program for Financial Planners requires six courses, gives students up to 18 months to complete them, and allows them to enroll at any time. UC Irvine Extension requires eight classes and two electives, and offers online classes during the fall, winter, spring and summer quarters. Students must enroll in courses prior to the beginning of each term.
Features
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Online courses in financial planning cover a variety of topics. For example, the Boston University Online Program for Financial Planners requires six courses, including Introduction to Financial Planning, Risk Management, Investments, Tax Planning, Retirement and Employee Benefit Planning and Estate Planning. The College for Financial Planning's program and the UC Irvine program require courses in similar subjects. The UC Irvine program also requires classes in cash-flow analysis and insurance-risk management and a course practicum, and offers electives on topics including stock-market and real-estate investments, asset allocation and managing a personal financial-planning business.
Considerations
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Online courses for financial planners may vary in cost, depending on the institution offering the program. For example, the Boston Institute of Finance program costs approximately $2,595 to complete, or about $525 for a single course (including the cost of textbooks). The College for Financial Planning's program costs about $3,885 for students who want instructor-led courses, or $2,885 for those who prefer self-study materials, plus about $825 in textbook fees. UC Irvine Extension online courses in financial planning cost about $550 each, or $5,500 for the full certificate, plus the cost of textbooks.
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