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Financial Planning Competency Handbook, 2nd Edition

Book Description

The official guide for exam success and career excellence

Financial Planning Competency Handbook, Second Edition is the essential reference for those at any stage of certification and a one-stop resource for practitioners looking to better serve their clients. This fully updated second edition includes brand new content on connections diagrams, new case studies, and new instructional videos, and a completely new section devoted to the interdisciplinary nature of financial planning. You'll gain insights from diverse fields like psychology, behavioral finance, communication, and marriage and family therapy to help you better connect with and guide your clients, alongside the detailed financial knowledge you need to perform to the highest expectations as a financial planner. This book contains over ninety chapters that are essential for practitioners, students, and faculty.

Whether a practitioner, student, or faculty member, this guide is the invaluable reference you need at your fingertips. Comprehensive, clear, and detailed, this handbook forms the foundation of the smart financial planner's library.

Each jurisdiction has its own laws and regulations surrounding financial planning, but the information in this book represents the core body of knowledge the profession demands no matter where you practice. Financial Planning Competency Handbook, Second Edition guides you from student to practitioner and far beyond, with the information you need when you need it.

Table of Contents

  1. Acknowledgments
  2. About the Book
  3. Preface
    1. NOTES
  4. About the Practice Questions
  5. About the Contributors
  6. PART ONE Introduction
    1. 1 Theory and Practice
      1. PART ONE
      2. CHAPTER INTRODUCTIONS
      3. STUDENT-CENTERED LEARNING OBJECTIVES BASED ON CFP BOARD PRINCIPAL TOPICS
      4. IN CLASS
      5. BLOOM’S TAXONOMY
      6. PROFESSIONAL PRACTICE CAPABILITIES
      7. IN PRACTICE
      8. PART TWO
      9. PART THREE
      10. NOTES
    2. 2 Function, Purpose, and Regulation of Financial Institutions
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVE
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    3. 3 Financial Services Regulations and Requirements
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    4. 4 Consumer Protection Laws
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVE
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    5. 5 Fiduciary
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVE
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    6. 6 Financial Planning Process
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    7. 7 Financial Statements
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    8. 8 Cash Flow Management
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    9. 9 Financing Strategies
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    10. 10 Economic Concepts
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    11. 11 Time Value of Money
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTE
    12. 12 Client and Planner Attitudes, Values, Biases, and Behavioral Finance
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    13. 13 Principles of Communication and Counseling
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    14. 14 Debt Management
      1. CONNECTIONS DIAGRAM
      2. OVERVIEW
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    15. 15 Education Needs Analysis
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. NEEDS ANALYSIS CALCULATION
      4. LEARNING OBJECTIVES:
      5. IN CLASS
      6. PROFESSIONAL PRACTICE CAPABILITIES
      7. IN PRACTICE
    16. 16 Education Savings Vehicles
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    17. 17 Financial Aid (Education)
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    18. 18 Gift and Income Tax Strategies (Education)
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    19. 19 Education Financing
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVE
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    20. 20 Principles of Risk and Insurance
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    21. 21 Analysis and Evaluation of Risk Exposures
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    22. 22 Health Insurance and Health Care Cost Management
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTE
    23. 23 Disability Income Insurance (Individual)
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    24. 24 Long-Term Care Insurance
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    25. 25 Annuities
      1. CONNECTION DIAGRAM
      2. INTRODUCTION
      3. FREQUENCY OF CONTRIBUTIONS
      4. DISTRIBUTION ALTERNATIVES
      5. DISTRIBUTION OPTIONS
      6. INVESTMENT OPTIONS
      7. TAXATION OF ANNUITIES
      8. FEES AND CHARGES IN ANNUITIES
      9. PENSION PROTECTION ACT OF 2006
      10. LEARNING OBJECTIVES
      11. IN CLASS
      12. PROFESSIONAL PRACTICE CAPABILITIES
      13. IN PRACTICE
      14. NOTES
    26. 26 Life Insurance (Individual)
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    27. 27 Business Uses of Insurance
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    28. 28 Insurance Needs Analysis
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVE
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    29. 29 Insurance Policy and Company Selection
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    30. 30 Property and Casualty Insurance
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTE
    31. 31 Characteristics, Uses, and Taxation of Investment Vehicles
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTE
    32. 32 Types of Investment Risk
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    33. 33 Quantitative Investment Concepts
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    34. 34 Measures of Investment Returns
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTE
    35. 35 Asset Allocation and Portfolio Diversification
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    36. 36 Bond and Stock Valuation Concepts
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    37. 37 Portfolio Development and Analysis
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    38. 38 Investment Strategies
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    39. 39 Alternative Investments
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVE
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    40. 40 Fundamental Tax Law
      1. CONNECTION DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    41. 41 Income Tax Fundamentals and Calculations
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    42. 42 Characteristics and Income Taxation of Business Entities
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    43. 43 Income Taxation of Trusts and Estates
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    44. 44 Alternative Minimum Tax (AMT)
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    45. 45 Tax Reduction and Management Techniques
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    46. 46 Tax Consequences of Property Transactions
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    47. 47 Passive Activity and At-Risk Rules
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVE
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    48. 48 Tax Implications of Special Circumstances
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    49. 49 Charitable/Philanthropic Contributions and Deductions
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    50. 50 Retirement Needs Analysis
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    51. 51 Social Security and Medicare
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    52. 52 Medicaid
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    53. 53 Types of Retirement Plans
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    54. 54 Qualified Plan Rules and Options
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    55. 55 Other Tax-Advantaged Plans
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTE
    56. 56 Regulatory Considerations
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVE
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    57. 57 Key Factors Affecting Plan Selection for Businesses
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    58. 58 Distribution Rules and Taxation
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    59. 59 Retirement Income and Distribution Strategies
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    60. 60 Business Succession Planning
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    61. 61 Characteristics and Consequences of Property Titling
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    62. 62 Gifting Strategies
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    63. 63 Estate Planning Documents
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    64. 64 Estate Tax Compliance and Tax Calculation
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    65. 65 Sources for Estate Liquidity
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    66. 66 Types, Features, and Taxation of Trusts
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTES
    67. 67 Marital Deduction
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    68. 68 Intra-Family and Other Business Transfer Techniques
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVE
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    69. 69 Postmortem Estate Planning Techniques
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
    70. 70 Estate Planning for Non-Traditional Relationships
      1. CONNECTIONS DIAGRAM
      2. INTRODUCTION
      3. LEARNING OBJECTIVES
      4. IN CLASS
      5. PROFESSIONAL PRACTICE CAPABILITIES
      6. IN PRACTICE
      7. NOTE
    71. Supplement: CFP Board’s Code of Ethics and Professional Responsibility
  7. PART TWO Introduction
    1. THE JAMESON FAMILY
    2. NOTE
    3. 71 Establishing and Defining the Client-Planner Relationship
      1. DEFINITION
      2. PURPOSE
      3. TECHNIQUES
      4. IN PRACTICE
      5. NOTES
    4. 72 Gathering Information Necessary to Fulfill the Engagement
      1. DEFINITION
      2. PURPOSE
      3. TECHNIQUES
      4. IN PRACTICE
      5. NOTES
    5. 73 Analyzing and Evaluating the Client’s Current Financial Status
      1. DEFINITION
      2. PURPOSE
      3. TECHNIQUES
      4. IN PRACTICE
      5. NOTES
    6. 74 Developing Financial Planning Recommendations
      1. DEFINING A RECOMMENDATION
      2. PURPOSE OF A RECOMMENDATION
      3. TECHNIQUES IN DEVELOPING A RECOMMENDATION
      4. IN PRACTICE
      5. NOTES
    7. 75 Communicating the Financial Planning Recommendations
      1. DEFINITION
      2. PURPOSE
      3. IN PRACTICE
      4. NOTES
    8. 76 Implementing the Financial Planning Recommendations
      1. DEFINITION
      2. PURPOSE
      3. IN PRACTICE
      4. NOTE
    9. 77 Monitoring the Financial Planning Recommendations
      1. DEFINITION
      2. PURPOSE
      3. TECHNIQUES
      4. IN PRACTICE
      5. NOTE
  8. PART THREE Introduction
    1. 78 Gathering Data from Clients:: Insights from Cognitive Task Analysis and Requirements Engineering
      1. APPROACHES TO KNOWLEDGE ELICITATION
      2. SOME KNOWLEDGE ELICITATION TECHNIQUES
      3. KNOWLEDGE ELICITATION FOR FINANCIAL PLANNING
      4. NOTES
    2. 79 The Need for Education
      1. JOHN AND JOANN
      2. KATHY AND MARIO
      3. LOU AND KAREN
    3. 80 Financial Planning Standards Board
      1. INTRODUCTION
      2. FINANCIAL PLANNER ABILITIES FRAMEWORK
      3. FINANCIAL PLANNING FUNCTIONS
      4. CORE FINANCIAL PLANNING COMPETENCIES
      5. FUNDAMENTAL FINANCIAL PLANNING PRACTICES
      6. FINANCIAL PLANNING COMPONENTS
      7. TERMS USED IN THE FINANCIAL PLANNER ABILITIES MATRIX
      8. FINANCIAL PLANNER PROFESSIONAL SKILLS
      9. FINANCIAL PLANNING KNOWLEDGE BASE
      10. FPSB FINANCIAL PLANNING TOPIC LIST
      11. FINANCIAL PLANNING CURRICULUM FRAMEWORK
      12. LOOKING FORWARD
      13. WORKING TOGETHER
      14. NOTE
    4. 81 Behavioral Finance and Its Implications for Financial Advisors
      1. HEURISTIC SIMPLIFICATION
      2. SELF-DECEPTION
      3. AFFECTIVE AND SOCIAL INFLUENCES
      4. UNCERTAINTY, COMPLEXITY, AND TIME CONSTRAINTS
      5. IN PRACTICE
      6. NOTES
    5. 82 Applications of Behavioral Economics in Personal Financial Planning
      1. INTRODUCTION
      2. THE FINANCIAL DECISION-MAKING PROCESS
      3. HEURISTICS AND BIASES
      4. PROSPECT THEORY
      5. MENTAL ACCOUNTING
      6. THE OSTRICH EFFECT
      7. RISK TOLERANCE
      8. OVERCONFIDENCE
      9. FINANCIAL LITERACY
      10. SELF-REGULATION
      11. PSYCHOPHYSIOLOGICAL ECONOMICS
      12. SAVE MORE TOMORROW PROGRAM
      13. SUMMARY
      14. NOTES
    6. 83 Marriage and Family Therapy Applications to Financial Planning
      1. APPLICATIONS FROM MARRIAGE AND FAMILY THERAPY
      2. SYSTEMS THEORY
      3. ECOLOGICAL THEORY
      4. SIMILARITIES AND DIFFERENCES BETWEEN SYSTEMS AND ECOLOGICAL THEORY
      5. SYSTEMS AND ECOLOGICAL PERSPECTIVES IN THE FINANCIAL PLANNING PROCESS
      6. IN PRACTICE
      7. STRATEGIES FOR WORKING WITH MULTIPLE FAMILY MEMBERS
      8. CONCLUSION
      9. NOTES
    7. 84 Financial Therapy: The Integration of Financial Planning and Theory
      1. INTRODUCTION AND RATIONALE FOR FINANCIAL THERAPY IN FINANCIAL PLANNING
      2. KEY CONCEPTS IN FINANCIAL THERAPY
      3. MONEY SCRIPTS
      4. MONEY DISORDERS
      5. MULTICULTURAL CONSIDERATIONS
      6. THEORETICAL PERSPECTIVES IN FINANCIAL THERAPY
      7. COLLABORATIVE RELATIONAL MODEL
      8. TOOLS FOR EDUCATION
      9. CONCLUSION
      10. NOTES
    8. 85 Aging Clients: Special Considerations
      1. SEASONS OF RETIREMENT LIFE
      2. CRITICAL CONVERSATIONS RELATED TO LIFESTYLE
      3. THREATS TO LATER LIFE COGNITIVE FUNCTION
      4. CLIENT COGNITIVE ABILITY AND PLANNER FIDUCIARY RESPONSIBILITY
      5. ELDER ABUSE
      6. CRITICAL CONVERSATIONS RELATED TO DECISION-MAKING CAPACITY
      7. CRITICAL CONVERSATIONS RELATED TO HEALTH
      8. HOME IS A NEW PLACE
      9. HOME IS IN THE SAME PLACE … OR CLOSE TO IT
      10. AGING IN PLACE
      11. EMERGING HOUSING ALTERNATIVES
      12. CRITICAL CONVERSATIONS RELATED TO HOUSING
      13. LATER TIMED PARENTING
      14. LATER LIFE DIVORCE
      15. LATER LIFE COHABITATION
      16. MAY–DECEMBER MARRIAGE
      17. CAREGIVING CONCERNS
      18. RECEIVING CARE
      19. CLIENT CONVERSATIONS CONCERNING FAMILY
      20. PROFESSIONAL PRACTICE CONSIDERATIONS
      21. NOTES
    9. 86 Accounting for Time: Important Distinctions and Concepts for Financial Planners
      1. TIME PERSPECTIVE THEORY
      2. PREDICTING BEHAVIOR USING TIME PERSPECTIVES
      3. EMPIRICAL EVIDENCE
      4. USING TIME PERSPECTIVE TO HELP CLIENTS
      5. SUMMARY
      6. NOTES
    10. 87 The Psychology of Decisions: A Short Tutorial
      1. INTRODUCTION
      2. ATTRIBUTE SUBSTITUTION: THE AVAILABILITY, REPRESENTATIVENESS, AND AFFECT HEURISTICS
      3. THE REPRESENTATIVENESS HEURISTIC
      4. THE AVAILABILITY HEURISTIC
      5. THE AFFECT HEURISTIC
      6. ANCHORING
      7. LOSS AVERSION
      8. UNREALISTIC OPTIMISM
      9. CONCLUSION
      10. NOTES
  9. CONCLUSION
    1. 88 Moving Forward
      1. DEVELOPMENT OF A PROFESSION
      2. CAREER PATH
      3. DEMOGRAPHICS
      4. RESEARCH IN FINANCIAL PLANNING
      5. FOCUS ON PLANNING
      6. NOTES
  10. Index
  11. Access Code
  12. EULA