InvestmentPlanningWeek1 - FSU Certificate in Financial...

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FSU Certificate in Financial Planning Investment Planning © Florida State University Page 1 Lecture Title: Week 1: Markets, Instruments, Influence of Taxes, Mutual Funds Introduction from the Instructor Hi everyone and welcome to the Investment Planning course. I'm a Certified Financial Planner™ who's been in the securities business for twenty-nine years. In 1995 I decided I needed to become a CFP® practitioner and enrolled in the first Certificate in Financial Planning class (live, not online) held at FSU. Yes, I was one of their guinea pigs and was fortunate enough to complete the course work, somehow passed the CFP® Certification Examination and became one of the first FSU-trained CFP® practitioners in 1997. I later taught the Investment Planning course (live) and have taught it online for several years. I hope you'll enjoy the class and I sincerely believe I can help you. I will approach the class with the goal of helping you accomplish two things: 1. become a better financial planner in the real world 2. assist you in mastering the competencies outlined by Certified Financial Planner Board of Standards Inc. (CFP Board) to a degree that you'll have a good shot at passing the CFP® Certification Examination . This second objective takes place in the strange and mysterious world of CFP Board, located on a planet named Washington D.C.. Theirs is a slippery world of theory, complex calculations and confusing, subjective test questions. The inhabitants of this place tend to be quite clannish. They try to numb the brains of any would-be joiners by using terms such as "capital asset pricing model", "treynor ratio", "coefficient of determination" and the like. And when all else fails to deter, they bring out the dreaded (please be sure no children or invalids view this) formulas page, which can be found on page 28 of the Guide to CFP® Certification (available for download in the course library in the right sidebar). Hey, is that enough to rattle your teeth, or what? I almost withdrew from the program the first time I saw that monstrosity. The good news is you can learn this stuff; it's not easy, but you can get through it with some effort.
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FSU Certificate in Financial Planning Investment Planning © Florida State University Page 2 If you haven't figured it out yet, I'll go ahead and tell you. I'm not an academic. I'm a working stiff like most of you. I run a business, have a wife and kids, can't find enough time to get everything done, etc. I hope that by sharing some of what I've learned in the real world over two decades and having struggled and prevailed in the battle to pass the CFP® Certification Examination, I can overcome any intellectual shortcoming. Here's how I hope to lead you. I will identify and emphasize the difficult material and will tell you which parts are fairly simple and can be skimmed over. You need to have a working knowledge of all of the CFP® Certification Examination investment topics. Some topics are just easier for you to read and comprehend on your own. Keep in mind we
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