Financial Planning and
Wealth Management Minor

 

Financial Planning: Aligning Values with Actions

Francis J. Noonan School of Business

 

A comprehensive financial planner uses an integrated approach towards all aspects of a financial situation, including, but not limited to: Insurance & Risk Management, Investment Planning, Tax Planning, Retirement Planning, Employee Benefits, and Estate Planning.  Though content is integral, the profession of planning additionally requires a commitment to ethics and awareness of behavioral finance, consumer psychology, family dynamics, customer service, and business development.  In other words, a competent, comprehensive financial planner is a well-rounded individual who is interested in people and values service above self.

Loras provides a differentiated program through our liberal arts tradition, Catholic Social Teaching foundation, and a curriculum based on ethical decision-making and reflective thinking.  We appreciate many financial planners come to the industry from a variety of backgrounds and experiences, thus our Minor in Financial Planning & Wealth Management includes no prerequisites and is open to students of all majors and interests.

As we are a CFP® Registered Program, Duhawks with a Minor in Financial Planning & Wealth Management will be eligible to sit for the CFP® Examination upon graduation.  For further conversation on our CFP®-Registered Minor in Financial Planning & Wealth Management, contact brian.kallback@loras.edu.

Financial Planning & Wealth Management Advisory Council

View all Majors & Minors

 

Requirements for the minor

Requirements for the minor in Financial Planning and Wealth Management:
A student must earn a cumulative average of 2.00 or better in all CFP courses. Students may “double count” a maximum of 6 credits in a minor.

Financial Planning & Wealth Management
Req Course Cr’s
1 L.CFP-300: Financial Planning & Risk Management 3
Select one from Req. 2
2 L.CFP-310: Portfolio Management & Communication 3
2 L.BUS-352: Investments 3
Select one from Req. 3
3 L.CFP-320: Personal Tax Planning 3
3 L.ACC-455: Federal Income Tax I 3
4 L.CFP-330: Retirement Planning & Employee Benefits 3
5 L.CFP-340: Estate Planning 3
6 L.CFP-490: Applications in Financial Planning & Wealth Management 3
18 total required credits
Course Descriptions

L.CFP-300: Financial Planning & Risk Management

The Minor in Financial Planning & Wealth Management is open to students of all majors and interests.  CFP 300 provides an introduction to knowledge students will need working as financial services’ professionals.  Course includes: the financial planning process; legal, ethical, and regulatory issues affecting personal financial planners; and time value of money concepts.  The course continues with a discussion of the principles of risk management and insurance, allowing the student to identify a client’s risk exposure and select appropriate risk management techniques concerning life, accident/health, disability, property and casualty, and long-term care insurance.  Topics covered align with the requirements of the CFP Board’s Principal Topics List.  3 credits.

L.CFP-310: Portfolio Management & Communication

The Minor in Financial Planning & Wealth Management is open to students of all majors and interests.  Course will teach students how to educate, guide, and advise clients on goals-based portfolio management. Instruction is designed to provide students with an introduction to modern portfolio theory, measuring risk and return, portfolio development and analysis, asset allocation and portfolio diversification, equity and bond valuation and derivatives. Intention is for students to gain enough familiarity with investment concepts to form their own opinions to aid in career direction.  Topics covered align with the requirements of the CFP Board’s Principal Topics List.  3 credits.

Note: Students can also take BUS 352: Investments to satisfy this component of the Minor in Financial Planning & Wealth Management.  BUS 352 will count as part of the CFP® education coursework. 

L.CFP-320: Personal Tax Planning

The Minor in Financial Planning & Wealth Management is open to students of all majors and interests.  This course is designed to provide students with an introduction to individual income tax fundamentals and the calculation of income tax.  In addition, the tax issues surrounding business entities, disposition of property and tax basis is discussed.  Students are introduced to AMT, passive activity rules, charitable contributions and tax minimization strategies. Topics covered align with the requirements of the CFP Board’s Principal Topics List.  3 credits.

Note: Students can also take ACC 455: Federal Tax I to satisfy this component of the Minor in Financial Planning & Wealth Management.  However, ACC 455 will not count as part of the CFP® education coursework. 

L.CFP-330: Retirement Planning & Employee Benefits

The Minor in Financial Planning & Wealth Management is open to students of all majors and interests.  This course will provide students with an introduction to retirement planning and employee benefits, including public and private retirement plans as well as group and fringe benefits.  Specifically, the course will cover the public retirement plans including Social Security, Medicare and Medicaid as well as the private plans including both defined benefit and defined contribution plans.  In addition, the course will provide students with an understanding of the regulatory provisions associated with the installation, administration and termination of retirement plans, the specific characteristics of the various plans available including qualified, non-qualified and other tax advantaged plans. Finally, the course will detail employee group and fringe benefits and the taxation of these benefit plans, and the issues that individuals face in retirement.  Topics covered align with the requirements of the CFP Board’s Principal Topics List.  3 credits.

L.CFP-340: Estate Planning

The Minor in Financial Planning & Wealth Management is open to students of all majors and interests.  The estate planning course cultivates a foundation of knowledge students need working as financial services professionals.  Topics will include: the estate planning process and the basic documents needed for an estate plan, such as a will, durable power of attorney for healthcare and an advanced medical directive.  The course continues with a discussion regarding property ownership, assets that pass through and around the probate process, gift and estate taxes, and planning techniques to reduce an individual’s tax liability.  Topics covered align with the requirements of the CFP Board’s Principal Topics List.  3 credits.

L.CFP-490: Applications in Financial Planning & Wealth Management

The Minor in Financial Planning & Wealth Management is open to students of all majors and interests.  Applications in Financial Planning & Wealth Management is a capstone requirement for all students who declare a minor in this field.  Prior to taking this course, students should have completed four of the five previous courses in the Minor curriculum.  It is an individualized, competency-based course which connects instruction and experiences to the body of related skills and knowledge that affect a significant portion of one’s performance in a given profession. Course utilizes competency-based learning objectives, as approved by the CFP Board.  This form of instruction will provide a detailed summary of learner effectiveness relative to the role of the personal financial planner, while also informing subsequent education and experiences relative to this course.  Topics covered align with the requirements of the CFP Board’s Principal Topics List.  Prerequisites: CFP-300, CFP-310, CFP-320, CFP-330, CFP-340. One prerequisite can be taken concurrently with CFP 490.  3 credits.

What Are CFP Board-Registered Programs?

CFP Board-Registered Programs are financial planning education programs at the college or university level that meet specific criteria for educating individuals who wish to fulfill the education component for obtaining CFP® certification. Individuals who meet CFP Board’s education requirement are eligible to sit for the CFP® Certification Examination. Successful completion of the education and examination components completes two of the core prerequisites to obtain CFP® certification.

To register a program, an institution must submit an application for review by CFP Board. Registration is granted on a biennial basis and must be renewed every other year.

For more information, visit www.cfp.net

Bernardi-Upstrom Award
L. Joseph Bernardi, CFP®, IAR
R. John Upstrom Loras College Professor Emeritus

When Duhawks who studied Finance return to campus, it is inevitable the conversation will turn to the impact made on their lives by Joe Bernardi and John Upstrom. These gentlemen laid the foundation over decades of service to our Loras community for our unique financial planning and wealth management offering.

We are humbled to honor their contribution by creating the Bernardi-Upstrom Award for students pursuing CFP ® certification.

Click the button below to contribute to the Bernardi-Upstrom Award.

Help Fund the Bernardi-Upstrom Award

We thank you for your support and service to the Loras College students and Duhawk community.

Financial Planning Association [FPA] Chapter

Loras College is home to a FPA Student Chapter. This organization is more than a campus club. The Financial Planning Association provides real-world, career guidance and connections to assist our students in beginning their journey into the profession of financial planning.

I want to be a financial planner because I want to help people. I love the opportunity to look at the quantitative and qualitative aspect of wealth management. To be able to build long-lasting relationships rooted in the fulfillment of clients’ ultimate financial goals will be exciting.”

 

– Olivia Flynn (’20) FPA Student Chapter President

The Financial Planning Association (FPA) is the home for the next generation of CFP ® professionals. By providing diverse education, relationship building, information-sharing, and volunteer opportunities that create positive social change, FPA is the definitive resource for students to gain knowledge and establish relationships.

FPA Student Chapter Officers: Anthony Berardi (’20), William Luzzo (’20)

Resources include, however not limited to:

FPA Job Board Showcase skills to prospective employers. Search by career stage including internships and entry-level positions.
FPA Activate A free online Facebook community to help immediately connect and start building a professional network.
Financial Planning Podcast You’re a Financial Planner, Now What? gain valuable insights on everything to know to be an effective financial planner and business owner. fpaactivate.org
FPA MentorMatch Connect with expert financial planners to get tips on advancing a career in financial planning.
FPA Connect Student Community Connect with FPA student members from across the country to get tips and advice on taking the exam, starting a study group, and career advice. visit website
Financial Planning Journal The Journal of Financial Planning is FPA’s award-winning publication will help students stay current with the best thinking from experts in the profession. Preview current issue.
Pro Bono Volunteer to help those in need of financial planning assistance. Volunteer duties must be performed within CFP Board’s experience standards to meet the CFP Board experience requirement. View video and visit foundation-finplan.org.

For more information, visit https://www.onefpa.org/

Questions? Contact Us!

James Padilla
Francis J. Noonan School of Business Dean
563.588.7405 | james.padilla@loras.edu

Padilla served as associate dean/associate professor of the School of Business Administration at Marymount University in Arlington, Va. Prior to that, he was an associate professor at the Tiffin University School of Business in Tiffin, Ohio, serving as dean there for two years; assistant professor in the Department of Movement Science at Grand Valley State University in Allendale, Mich.; assistant professor at Ball State University’s School of Physical Education, Sport and Exercise Science in Muncie, Ind.; assistant professor at University of Saint Francis’ Keith Busse School of Business and Entrepreneurial Leadership in Fort Wayne, Ind.; and a lecturer at Ivy Tech State College, also in Fort Wayne.

Originally from the Chicago area, Padilla is an expert in the athlete disability insurance field. Over the past 20 years, he has worked with players, coaches, agents, financial advisors and professional teams in regards to properly protecting themselves and their assets. He later merged his own insurance firm with Braman Insurance in Merrillville, Ind., and still serves as a consultant for Braman.

Padilla received his undergraduate degree in sociology from Northern Illinois University. He received his juris doctorate at Southern Illinois University School of Law in Carbondale, Ill., and an executive certificate in sports management from Loyola University Chicago.

Eric Eller, Ph.D.
Associate Professor of Finance
563.588.7202 | Eric.Eller@loras.edu

Dr. Eller received his PhD from the University of Virginia, a Masters degree from the University of Missouri, and his undergraduate degree from Missouri State. Prior to joining the faculty at Loras, Dr. Eller spent time on the tenure-track faculty at Bellarmine University, at Buena Vista University (where he was tenured), and at Upper Iowa University. Dr. Eller’s areas of scholarly research include International Service Learning and Microfinance. He has taught numerous study away courses with travel destinations including Cuba, Haiti, Russia, Egypt, and the Galapagos Islands.

Under Dr. Eller’s direction, the LIFE Investment class (which manages a portion of the Loras endowment) will focus on choosing investments which align with the College’s mission while still maximizing portfolio efficiency.

Brian J Kallback CFP® CLU® QPA QKA CTFA
Instructor of Finance
563.588.7626 | Brian.Kallback@loras.edu

Finance Instructor, Loras College Frances J. Noonan School of Business teaching Financial Planning & Risk Management, Managerial Finance, Investments, and Personal Financial Literacy. https://www.linkedin.com/in/kallback/

Luke Lammer, M.A., C.P.A., C.M.A., C.I.A.
Associate Professor of Accounting
563.588.7379 | Luke.Lammer@loras.edu

Curriculum Vitae

Professor Lammer joined Loras in 2011. He received his Bachelor’s degree in Accounting from Clarke University and his Master of Accountancy degree from the University of Iowa. Lammer has earned certifications as a Certified Public Accountant (CPA), Certified Management Accountant (CMA), and Certified Internal Auditor (CIA). Prior to Loras, Lammer worked as an auditor with McGladrey & Pullen, LLP, working primarily with financial institutions. Lammer has been an active contributor to item development for both the CPA and CMA exams.

Erin McGovern
Assistant Professor of Accounting
563.588.7245 | erin.mcgovern@loras.edu

Professor McGovern joined Loras in 2018.  She is a 2004 Loras graduate with a degree in Accounting and Finance, and went on to earn her MBA from St. Ambrose University in 2005.  Prior to Loras, McGovern worked primarily in the banking industry in various accounting roles and has earned Certified Public Accountant (CPA) certification.