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CPE Self-Study
PFP in Practice: Putting it all Together, Part 1 and 2
NASBA FIELD OF STUDY
Specialized Knowledge
LEVEL
Intermediate
CPE CREDITS
Online: 8.0
A two-part course presenting four case studies that cover typical scenarios the personal financial planner may encounter.

CPE On-Demand
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Product details

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

Personal financial planning is more of an art than a science. A personal financial plan is not a series of inputs into an excel spreadsheet. It is an analysis of data, and a reasoned recommendation based on that analysis. Data is not only found in an Annual Spending Plan, or a Statement of Financial Position; but oftentimes, can be found in an off-hand client remark like, "We do not have a will." Additionally, a personal financial planner will benefit greatly from heuristics or rules of thumb; for example, an ideal savings goal for financial independence is ten percent of annual earnings.

In this two-part CPE course, we present four case studies that cover typical scenarios the personal financial planner may encounter:

Part 1

  • Case Study 1 – Young Married Couple
  • Case Study 2 – Pre-retirement Married Couple

Part 2

  • Case Study 3 – Financially Independent (Retired) Married Couple
  • Case Study 4 – Business Owner

While most clients have life and financial goals that include all areas of personal financial planning (retirement, estate, risk, and investment planning), each client's discussion will be unique. For example, their life-stage will have a major bearing on their short-term and intermediate-term needs. Understanding the triggers that impact their priorities and how various PFP areas are impacted will enable you to present your recommendations in a logical prioritized order that will deepen your client relationships. The case studies in this two-part course illustrate these concepts.

Learning Objectives

  • Select the type of personal financial planning engagement which is most appropriate based on the case study's facts and circumstances.
  • Calculate the personal financial planning client's gross income based on their Cash Flow Statement.
  • Calculate the number of months the personal financial planning client has funded their emergency reserves based on their Statement of Financial Position.
  • Determine the personal financial planning client's PITI ratio.
  • Recall the four key areas of personal financial planning should be accomplished in a personal financial plan.
  • Identify the correct ownership of a life insurance contract for the personal financial planning client.

Who Will Benefit?

  • CPAs, financial planners, and qualified professionals with basic knowledge of, and interest in, personal financial planning.

Enhanced On-Demand Format

This enhanced on-demand format offers meaningful and relevant content in the form of tables, charts, and discussion points on slides. An instructor who is an expert on the topical area breaks down complex topics, offers best practices, provides clarity, and shares insights that help the learner achieve the learning objectives for the course.

DISCOUNTS

PFP section members and PFS credential holders receive a 20% discount

When you log into this website with your AICPA member account, the section discount will be automatically applied during checkout. Section discounts cannot be combined with any other offer. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Find out more information on the PFP Section.

Ratings and reviews
Author(s)

Susan M. Tillery, CPA/PFS, CFP®

Susan M. Tillery, CPA/PFS, is President & CEO of Paraklete® Financial Inc. Paraklete® provides integrated fee-for-service financial planning without asset management or product sales. The firm acts as An Advocate in Financial Services® for its clients with a disciplined focus on independence and objectivity. Susan also is a co-founder and president of Financial Planning Advocate LLC, a provider of continuing education for CPAs, financial advisers, universities and colleges.

Ms. Tillery’s experience at Harris myCFO, a multi-family office where she was responsible for the development and delivery of comprehensive family office solutions to affluent families, together with her work at Arthur Andersen, Ronald Blue & Co and other financial firms, provides the framework for Paraklete.

Susan earned both her bachelor’s and master’s degrees in accounting from the University of Georgia. Susan is a member of the American Institute of CPAs (AICPA) and the Georgia Society of CPAs (GSCPA). In addition, she is chair of the AICPA Personal Financial Planning Credential Committee. Susan also serves on the Board for The National Center for Stewardship and Generosity.

Susan has over 30 years of experience in tax, philanthropy and financial planning, as well as in the administrative and compliance areas encountered by affluent individuals and families. Ms. Tillery speaks on the topics of: Financial Planning, CPAs and Financial Planning, Financial Issues Facing Women, Responsibilities of Wealth, Charitable Giving and Stewardship.

Tom Tillery, MA Ed, MSFS, CFP®, CLU®, ChFC®, LUTCF, CRPC®

Vice President, Financial Planning Advocate, LLC
Vice President & CCO, Paraklete® Financial, Inc.

Thomas Neal Tillery, CFP®, AEP®, CLU®, ChFC®, CRPC®, LUTCF is Vice President and Chief Compliance Officer of Paraklete® Financial, Inc. Paraklete® provides integrated fee-for-service financial planning without asset management or product sales. The firm acts as An Advocate in Financial Services® for its clients with a disciplined focus on independence and objectivity. Tom is also a co-founder and Vice President of Financial Planning Advocate, LLC, a provider of continuing education for CPAs, financial advisers, universities and colleges.

Tom earned a M.S. in Financial Services from The American College and an M.A. in Education from The Southern Baptist Theological Seminary. He is an active member of AICPA (Non-CPA Associate), the Atlanta Estate Planning Council and the Society of Financial Service Professionals. He also serves on the Board for The National Center for Stewardship and Generosity.

With more than 30 years of experience in personal financial planning, Tom is a frequent speaker and writer on all topics relating to personal financial planning. He has written personal financial planning curriculum for several universities and on-line providers. Tom has been a provider of Continuing Education for attorneys, CPAs, and investment and insurance professionals for over 30 years. Tom and his family reside in Kennesaw, Georgia.

Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Price:
$179.00
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Nonmember Quantity:
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Estimated total:
$179.00
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CREDIT INFO
CPE credits
Online
: 8.0
NASBA Field of Study
Specialized Knowledge
Level
Intermediate
Prerequisites
None
ADVANCE PREPARATION
None
Delivery Method
QAS Self-Study
Course acronym
PFP-PROC5
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