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Financial Planning I

 

You will learn how to:

  • Consolidate relevant customer information in order to provide quality advice to clients
  • Apply broad product knowledge to achieve results for clients
  • Recommend appropriate financial solutions
  • Build trustworthy and credible client relationships
  • Develop methods for improving communication with clients
  • Evaluate solutions - pros and cons
  • Build and expand your business

What's New

Updated content to reflect the 2019 Federal Budget specifically:

  • Module 2 Borrowing and Mortgages
    • Added new content: The First-Time Home Buyer Incentive
    • Updated the Home Buyers' Plan (HBP) limits
  • Module 3 Taxes, Investments and Retirement
    • Updating tax rates and pension limits
    • Updated online learning activities and sample practice questions.
  • Added a putting it all together quiz at the end of the online course

Learning Experience

CSI's online learning system helps you meet your study goals. You'll benefit from:

  • Textbook readings available in PDF, e-Book and printed format
  • Accessing the course materials through your computer, laptop, tablet, or phone. Or, download the e-Book for offline reading.
  • Learning objectives and goals that keep you focused
  • Online activities including standalone review questions for each chapter and section quizzes to help you reinforce your learning and identify topics that may need to be revisited during exam preparation
  • Regular course updates to ensure you're learning the most current and up-to-date practical material in your studies
  • Online assistance from CSI's academic support specialists

What you'll learn?

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Syllabus Click Here to Expand

Chapter 1 - Managing the Financial Planning Process

This chapter provides an introduction to wealth management as a distinct practice in today's financial services environment. You will learn about the key trends in the industry and the skills and traits you need to be a successful wealth advisor. We also explain how changes in the regulatory environment are likely to affect advisors in the wealth management industry. Furthermore, we provide a process with which you can create a financial plan and manage the diverse wealth management needs of your clients. Finally, we explain the importance of assembling a team of specialists you can rely on to help provide holistic wealth management services to your clients.

Topics covered in this chapter are:

  • The Role of the Advisor

  • Meeting Your Clients' Needs

  • The Full Service Offer

  • The Financial Planning Process

Chapter 2 - Budgeting and Consumer Lending

The first step in the financial planning process is to help your clients create a budget. With a budget in place, they can see how much of their income they can use to service loan payments and how much they can save for their future. During this process, it is important that you remain abreast of rapid changes in the financial services industry, particularly in the areas of technology and regulation. This chapter explains your role as an advisor in the financial planning process in terms of helping your clients budget and teaching them about consumer lending.

Topics covered in this chapter are:

  • Cash Flow and Budgeting

  • Preparing Client Statements

  • Budgeting and Savings Fundamentals

  • The Role of Financial Institutions

  • Credit Fundamentals

  • Debt Service Ratios

  • Personal Borrowing Options

Chapter 3 - Mortgages

Housing expenditures represent the largest portion of monthly expenses for most people, and the purchase of a house is almost always a major financial decision. Because few can afford to purchase a home outright, most people finance the purchase with a mortgage loan. This chapter explains your role as an advisor in the financial planning process in terms of helping your clients plan to purchase a home

Topics covered in this chapter are:

  • Mortgage Options

  • Types and Features of Mortgages

  • Assessing Home Affordability

  • Creditor Insurance

  • Regulatory Considerations When Selling Creditor Insurance

Chapter 4 - Taxation

Because taxes have an impact on most financial products, tax planning should be viewed as an integral part of financial planning, and not a separate function. As an advisor, you are not expected to be a tax expert, but you cannot disregard taxation altogether. Investment and financial decisions are not made for tax reasons alone, but ignoring taxes can lead to poor choices that fail to maximize after-tax wealth. This chapter explains your role as an advisor in the financial planning process in terms of helping your clients plan for the tax implications pertaining to their financial plans.

Topics covered in this chapter are:

  • The Canadian Tax System

  • Personal Income Tax Returns

  • Types of Income

  • Tax Deductions

  • Tax Credits

Chapter 5 - Investments

One of your most important roles as an advisor is to understand and evaluate the different types of investments available to your clients, so you can recommend appropriate choices. To assess an investment's performance, you first need to know the types of risks that affect it. You must also be able to measure those risks and determine whether your clients will be adequately compensated for bearing them. This chapter explains your role as an advisor in helping your clients create investment plans that are tailored to their individual needs and objectives.

Topics covered in this chapter are:

  • Investment Theory – Risk and Return

  • Types of Investments

  • Registered Education Savings Plans

  • Tax-Free Savings Accounts

Chapter 6 - Retirement

To provide sound advice to clients who are planning for retirement, you must have a solid understanding of retirement savings vehicles. RRSPs are the preferred vehicle for many clients wishing to supplement their future retirement income. During financial planning discussions, your clients will want to know how best to maximize their savings and minimize their taxes. A long-term retirement strategy should be established early and reviewed periodically. This chapter explains your role as an advisor in the financial planning process in terms of helping your clients create retirement savings plans that are tailored to their individual needs and objectives.

Topics covered in this chapter are:

  • Registered Retirement Savings Plans

  • Registered Retirement Income Funds

  • Registered Pension Plans

  • Government Pension Plans

  • Calculating Retirement Needs

Chapter 7 - Wills and Powers of Attorney

The drafting of wills and powers of attorneys in all Canadian provinces other than Quebec are derived from common law, which are laws developed through court decisions. In Quebec, the Civil Code applies. Consequently, rules of general application in Quebec will differ in many respects from those that apply in the rest of Canada. The content in this chapter covers both common law and the Civil Code. This chapter explains your role as an advisor in the financial planning process in terms of helping your clients create estate plans that are tailored to their individual needs and circumstances.

Topics covered in this chapter are:

  • Writing a Will

  • Revoking and Amending a Will

  • Appointment of Executors, Guardians and Trustees

  • Intestacy

  • Probate

  • Objectives of a Powers of Attorney

  • Powers of Attorney for Property and Mandates

  • Powers of Attorney for Personal Care and Living Wills

Chapter 8 - Risk Management and Life Insurance

Risk management is a fundamental element of financial planning. The goal of this function is to minimize the potential costs related to common risks by managing them in the most efficient way possible. As an advisor, you should be able evaluate common risks and help protect your clients from the threat they pose to their current and future financial security. This chapter explains your role as an advisor in the financial planning process in terms of helping your clients create risk management plans that are tailored to their individual needs and circumstances.

Topics covered in this chapter are:

  • The Nature of Risk

  • Managing Risk

  • Types of Risk

  • The Life Insurance Industry

  • Types of Life Insurance

  • Understanding a Client's Life Insurance Needs

Approximate Hours of Study**
Hours of Study 70 - 90 hours

** In order to provide some guidance to course participants as to the length of time it will take to be sufficiently prepared to write the final examination, CSI has prepared this estimate of the number of hours an average participant could possibly expect to spend studying for a course. Please note that these are only recommended hours of study developed based on research and our course content, however, this does not mean that some students with exceptional backgrounds would not take less time than recommended or that students with no background at all in finance or economics would not take longer than the maximum.

EXAM WEIGHTINGS
(weightings are approximate)
Managing the Financial Planning Process 20%
Budgeting, Consumer Lending and Mortgages 15%
Taxation 15%
Investments 15%
Retirement 10%
Wills and Power of Attorney 15%
Risk Management and Life Insurance 10%
EXAM INFORMATION
Exams 1
Exam Format Proctored (remote or in person at a test centre)
Exam Duration 3 Hours
Question Format Multiple Choice
Questions Per Exam 80
Attempts Allowed Per Exam 3*
Passing Grade 60%
Assignments None
ENROLMENT PERIOD
Enrolment Period 1 year†
COURSE COMPLETION NOTICE

On successful completion of this course you will be able to download a Notice of Course Completion available through your student profile. This will remain on your profile as formal confirmation of course completion.

* The first attempt is included in the course enrolment fee. Further attempts incur fees.

†Please note: Access to your online materials will close 2 weeks after successful course completion or course expiry (whichever comes first). This course can be extended by 1 year provided you have not exceeded the attempts allowed  for each exam. You can view CSI extension fees here . Your enrolment period can only be extended one time.

Continuing Education (CE) Credits

Click the links below or the buttons at the top of the page on the right side to access CE accreditation information. To search for specific course information, press Ctrl + F and then enter the course name to search the document for the information you are interested in.

National/Provincial (Excluding Quebec)
Download CE Chart (PDF, 163 kb)

Quebec (IQPF/CSF)
Download IQPF/CSF Chart (PDF, 182 kb)

Please note: While CSI makes every effort to ensure that the information is up-to-date, we are unfortunately unable to fully guarantee its accuracy. The information listed in the charts above may be subject to change.

More detailed information on CE Credits are available.