1. Opening Session Sponsored by:

2. Welcome

3. 2012 CFP Board Registered Program Conference Opening Session Building for the Future: Engagement; Application; Assessment Dr. Charles Chaffin CFP Board August 9, 2012

4. New Registered Programs University of Georgia (Ph.D. Housing & Consumer Economics with an Emphasis in Family Financial Planning) Louisiana State University (M.S. in Finance with a Specialization in Financial Planning) (B.S. in Finance with a concentration in Financial Planning) University of Dallas (CFP® Certification Professional Education Program) University of Mary (Financial Services and Banking) University of Mississippi Online Executive Certificate in Financial Planning) University of Richmond (Online Executive Certificate in Financial Planning) (e-Certificate in Financial Planning (Live Online)) University of Miami (Masters Certificate in Financial Planning (Live Online)) University of Florida (Personal & Family Financial Planning Program) (B.S. Family, Youth & Community Sciences, Specialization: Personal & Family Financial Management) (M.S. Family, Youth & Community Sciences, Specialization: Personal & Family Financial Management) Wake Forest University (e-Certificate in Financial Planning (Live Online)) (Online Executive Certificate in Financial Planning) Utah Valley University (B.S., Personal Financial Planning)

5. New Registered Programs Walsh College (Personal Financial Planning Certificate Program (Undergraduate)) Olivet Nazarene University (B.S., Economics/Finance with a Concentration in Certified Financial Planning) California State University Northridge (Bachelor of Science in Business Administration Option in Insurance and Financial Services- Sequence in Financial Planning) (Bachelor of Science Finance- Sequence in Financial Planning) Indiana State University (B.S. Finance with concentration in Financial Planning) La Salle University (Certificate in Financial Planning Web- Delivered) (Online Executive Certificate in Financial Planning) Richard Stockton College of New Jersey (The CFP® Certificate Education Program) Saint Louis University (B.S. Finance – Financial Planning Track) Texas A&M - Commerce (Masters Certificate in Financial Planning (Live Online)) (Online Executive Certificate in Financial Planning) University of California – Los Angeles (Financial Planning Certificate) University of Redlands (Professional Financial Planning Certificate Program) University of Texas at Dallas (Masters Certificate in Financial Planning (Live Online)) (Online Executive Certificate in Financial Planning) Western Kentucky University (Online Executive Certificate in Financial Planning)

6. CFP Board Registered Programs ■ 109 baccalaureate ■ 175 certificate ■ 46 master’s ■ 6 doctoral 33 new programs currently in development 6

7. 2012 CFP Board Registered Program Conference Engagement Application Assessment

8. Engagement ■ Student Recruitment for all program types ■ Student retention ■ Engagement of the community of CFP® Practitioners

9. Application ■ Taking the learner from content to competency  Student-centered instruction  Learning objectives-learning experiences- assessment ■ Moving beyond just a theoretical understanding ■ Taking the learner from “where they are” to a higher level of competency ■ Financial Plan Development Course

10. Assessment ■ How do you know they are learning? ■ What is the level of achievement of your students when they enter your program? ■ Where do you want them to be when they leave your program?  Philosophy

11. Student-Centered Learning Objectives based upon CFP Board Principal Topics (CFP Board, 2012)

12. What is it that you want your students to learn (and consequently demonstrate) at the end of a course/unit of study?

13. Learning Objectives ■ They either learned it, or they didn’t  How do you know if they did? ■ Focuses on student needs rather than teacher-centered ■ Defines context ■ Quantifiable ■ Provides guidance to the instructor regarding course construction/assessment ■ Provides guidance to the learner regarding course content/expectations

14. Learning Objectives Faculty Uses ■ Consistent with other requirements ■ Useful for adjunct faculty ■ Useful for faculty from a related field and may not have a background in financial planning ■ It is a starting point

15. With just a topic… ■ What happens in the classroom/online learning platform to facilitate “covering” the topic? ■ How will I assess student learning relative to the topic? ■ What kind of resources are needed to achieve the objective of covering the topic?  Outside readings  Examples from practice

16. With just a topic… ■ *How much time should I allocate in class towards this topic? *Significant program sustainability issue

17. Provides Guidance to the Instructor ■ CFP Board only requires one course per say (Financial Plan Development Course) ■ All other topics can be configured in any way as long as there is a minimum of 270 contact hours ■ Example: Investments course could be 54 hours *Knowing your student population will help determining some course lengths

18. Time Management ■ Evaluate the time necessary to meet a pre- determined learning outcome ■ Numerous options for implementation  Hybrid/blended instruction  Some courses/content areas may require more or less student preparation time (more frequent class meetings to shorten window)  Degree- may leave more time to devote to experiential learning/related fields

19. Course Construction WeekWeekly Topic Learning Outcomes Activities Required Readings Assessments 1 2 3 4 5

20. Providing Guidance to the Instructor 16. Disability Income Insurance (individual) a. Describe differences between short-term and long-term disability plans and identify the policy provisions that should be included in privately-purchased disability policies. b. Create a plan for meeting individual disability income needs, in consideration of household financial resources, and existing coverage under employer plans, Social Security, and disability income insurance options. c. Calculate the tax implications of paying for and receiving disability benefits. Student-Centered Learning Objectives based upon CFP Board Principal Topics (2012)

21. Providing Guidance to the Instructor ■ Quality control notion for registered program  Adjuncts  Within a larger division/department/college ■ Philosophical notion within document  What do you believe should be the outcome relative to each topic and higher level learning?

22. Contributors ■ Dr. Vickie L. Bajtelsmit ■ Dr. Somnath Basu ■ Dr. Sharon Burns ■ Dr. John Grable, CFP ® ■ Dr. Tom Warschauer, CFP ® ■ Dr. Charles Chaffin ■ Comments from faculty from across the country

23. Financial Plan Development (capstone) course

24. Financial Plan Development (Capstone) course Congratulations…and thank you.

25. Financial Plan Development (Capstone) course ■ An overwhelming majority of programs are utilizing more than one case in this course ■ There is less focus on the use of “mini-cases” in this course and courses leading up to the capstone  Students begin to experience the process of application of content ■ Beyond content, how can coursework prepare the learner for the FPDC?

26. Educational Sequencing MacroMicroMacro

27. Educational Sequencing Financial Plan Development Course Case/ Application Exercise Theoretical Content Case/ Application Exercise

28. Beyond CFP Board criteria… Some issues ■ Courses tend to be packed tightly  Pacing may be too fast  What if remediation is necessary?

29. The capstone course is the beginning… ■ Improvement for experienced professionals ■ Continuous learning and development for career changers and traditional students ■ Reflective Practice- taking ownership of one’s own learning through evaluation of previous experiences  Reflecting upon oral communication  Reflecting upon decision-making  Informal peer assessment

30. Who is in your class? ■ Are you able to take them from where they are with regard to achievement to where you would like them to be?  Practice experience  Education  Career objectives of the individual  Objectives of the firm ■ You define “effectively”  Experienced professionals may require more advanced cases, experiences, assessment strategies *The CFP Board required learning objectives leave room for important interpretation

31. Capstone course can impact the entire program… ■ Communication amongst faculty across the curriculum  Determining strengths and deficiencies relative to the previous coursework  Program evaluation ■ Working backwards from capstone course to entire program of study

32. Financial Plan Development (capstone) course Assessment

33. ■ Define each portion of the rubric  Feedback to the learner  Consistency if using multiple evaluators  More qualitative feedback to the learner ■ In your rubric, are you assessing for each of the CFP Board required learning objectives?  NOTE: LO #7 can be assessed through other avenues and not the rubric - Apply the CFP Board Financial Planning Practice Standards to the financial planning process. - You need to show evidence in your syllabi that you are assessing for all seven learning objectives

34. Assessment ■ Is the oral/written components of the comprehensive financial plan at the end of the course the ONLY assessment instrument?  “I had no idea I was failing this class.” ■ Can you assess as they develop the case?  Offering feedback as they develop  Offering structure so the learner completes the plan on time ■ The comprehensive presentation should still be the primary assessment instrument

35. Program Sustainability

36. CFP Board Registered Programs ■ Illustrating the value of your program  Defining competencies/outcomes  Induction into the profession of financial planning  Induction into becoming a CFP® Professional ■ How big is your program’s “footprint?”  Recent graduates  Engagement with practice  Building community (classroom-based or distance)

37. CFP Board Registered Programs ■ How are you differentiating your program from others?  Accessibility  Price  Delivery method (population preference)

38. CFP Board Registered Programs Flexibility for Innovation ■ Teaching methods ■ Content beyond minimum requirements ■ Experiential opportunities beyond the classroom/online learning platform ■ Relationships with practice  Prospective students for program  Prospective employers for graduates

39. Program Sustainability ■ Course sequence can impact student retention significantly  Subject matter  Faculty ■ Where is your data regarding student retention?  Analysis to determine retention “drop-off points” ■ Know your student profiles (certificate programs)  Could help to determine course sequence ■ Define your track and make explicit  A major advising challenge for concentrations

40. Certificate Program X ■ Each of the six classes met for 12 weeks  Once per week  4-6 week gap between each course  21 months  Enrollment had declined

41. Certificate Program X ■ Faculty schedules  When can everyone teach? ■ Should we offer classes once or twice per week? ■ How long does it take to facilitate students meeting our outcomes ( Student-Centered Learning Objectives based upon CFP Board Principal Topics, 2012) ?

42. Certificate Program X ■ Should we offer hybrid instruction?  Opportunities for students to engage in online learning between class meetings - Discussion boards - Online lectures (synchronous or asynchronous)  Will your faculty use appropriately?  Can you help them learn to use it appropriately? ■ Do you know your students?  Admissions/Student profiles  Exit and entrance surveys

43. Is there a Market for Remediation for your population? ■ Attract more career changers through formal remediation strategies  A course designed as induction into program before entering full student cohort  Exit exam before cohort entrance

44. Degree Programs ■ Significant challenge for concentrations  Advising  Marketing the program across the division/department/college  Tracking enrollment ■ Engaging the community  Speakers to talk about CFP® designation  Sponsors for FPA student chapter  Employers  Employers to help assess capstone course

45. Degree Programs ■ Initiatives across the country for programs to offer online learning at baccalaureate and graduate level  An enrollment opportunity for CFP Board Registered Programs

46. Online Learning Ways to help faculty move to online learning ■ Immerse faculty in the online learning environment  Unknown entity  Provide access for them to engage it on their own time ■ Allow faculty to take an online/blended course as a student in any discipline  Experience from the perspective of the student  Experience the capabilities of online/blended learning

47. Ways to help faculty move to online/hybrid instruction ■ Shared problem solving with other faculty in your program  Helping one another by sharing successes and solving problems  Online meetings or asynchronous discussion boards are ideal

48. Program Sustainability ■ “Do you know where your program objectives are?”  If so, are they embedded within the program?  Building relationships through refinement of program objectives - Faculty from across departments - Program advisory groups ■ Induction of new faculty (instructors, adjuncts)  Have them teach from YOUR syllabus the first time, then discuss potential revisions

49. Annual Renewals

50. Annual Renewal as Advocacy Instrument ■ This is not merely an administrative exercise ■ Review letter  Intended to highlight strengths of program  Offer suggestions relative to areas for improvement ■ When programs do not meet CFP Board criteria  Collaborative process  Happy to offer suggestions for meeting requirements or increasing student achievement and/or enrollment

51. Annual Renewals ■ Simplified process for 2012  Pre-populated forms  Terms and Conditions document  Submit electronically or via U.S. Mail  Submit anytime up to deadline ■ More transparency and explanations regarding requirements  www.CFP.net/RegisteredPrograms

52. Registered Program Renewal ■ All programs must renew annually ■ A month before the renewal date, each program will receive a pre-populated application filled in with the information submitted last year. ■ Steps to complete renewal:  Update information on pre-populated application  Attach syllabi for all courses  Fill out the 78-Topic List  Attach curriculum vita for new professors  Renewal fee

53. Renewal Status

54. ■ Each of these statuses will be accompanied by an email stating the status and the effect that it has on the Registered Program ■ Extension requests of up to seven days will be evaluated on a case by case basis  Zero rejections of initial extension requests to date ■ Engagement is key

55. Education Verifications

56. CFP Board Education Verification System ■ An expedient avenue for partner institutions to submit eligibility lists ■ Quality control with regard to accuracy of data ■ Effective communication avenue to student regarding status of eligibility list upload ■ Enforcement of CFP Board Education requirements

57. CFP Board Education Verification System ■ Registered programs are submitting eligibility lists of students directly through new system ■ Students will not have to register for the exam first in order for names to be captured by CFP Board ■ Students who have completed the capstone course only (challenge status) will also need to be submitted by the institution  New form available online specific to students who only completed capstone course

58. CFP Board Education Verification System

59. ■ Optional forms at www.CFP.net/RegisteredPrograms www.CFP.net/RegisteredPrograms  Student info forms

60. CFP Board Education Verification System ■ A username and password for primary contact and program director  Flexibility regarding who from your program should have access ■ www.CFP.net/RegisteredPrograms www.CFP.net/RegisteredPrograms ■ A recording of the December 2011 webinar announcing process is available on webpage ■ Significant feedback regarding new system

61. Financial Planning Challenge ■ Engagement of students and faculty in the financial planning process ■ A case with two clients and the student must present a comprehensive financial plan  Financial Planning Case Study (Written)  Financial Planning Case Study (Oral)  “How Do You Know Challenge?” www.CFP.net/RegisteredPrograms

62. Financial Planning Challenge Opportunity to highlight components of the learning process ■ Case Study ■ Assessment Rubric www.CFP.net/RegisteredPrograms

63. 2012 Financial Planning Challenge Finalists ■ Colorado State University ■ Kansas State University ■ Shepherd University ■ Virginia Tech 1 ■ Virginia Tech 2 ■ Virginia Tech 3 ■ Texas Tech University ■ Virginia Commonwealth University

64. Financial Planning Competency Handbook

65. Objectives ■ To outline the subject areas that financial planners need to KNOW ■ To outline the items that planners DO Intended Audience ■ Practitioners ■ Students enrolled in CFP Board Registered Programs ■ Faculty within CFP Board Registered Programs ■ Practitioners and students in related fields

66. Financial Planning Competency Handbook ■ Section One- the 78 topics  Connections diagram - Linking the topic to other content areas across the curriculum  Introduction - Background information on topic - Historical perspective on topic  Learning Objectives - Student-centered Learning objectives based upon CFP Board Principal Topics - Background information regarding many of the learning objectives

67. Financial Planning Competency Handbook Section One (continued) ■ Bloom’s Taxonomy (1956, 2001)  Illustration of the learning activities and assessment instruments for facilitating higher order cognitive thinking  Classroom-based and online learning platforms  For each of the 78 topics ■ Professional Practice Capabilities  A description of what individuals in practice should be able to relative to the given topic  Novice, competent, expert  Dreyfus & Dreyfus model of skill acquisition (1980)

68. Financial Planning Competency Handbook ■ Vignettes  Outlines the contexts in which these topics are used in practice  What the financial planner would do in practice without getting into calculations  Names and contexts that represent diversity

69. Financial Planning Competency Handbook Section Two What planners “DO” (Domains) ■ Definition ■ Purpose ■ Techniques ■ Contexts

70. Financial Planning Competency Handbook Publication Date: Spring 2013

71. Public Awareness Campaign Toolkit Increasing public awareness is central to CFP Board’s mission. In November 2010, CFP Board’s Board of Directors authorized the organization to proceed with a multi-year public awareness campaign to raise the awareness of CFP® certification. The campaign includes a toolkit of resources that CFP® professionals can use in their local communities to extend the reach of the campaign, and updates from CFP Board on the progress of the campaign.updates The link to the toolkit is http://www.cfp.net/publicawareness/default.asp. http://www.cfp.net/publicawareness/default.asp

72. Marketing Materials ■ Digital Copies available on flash drive and at www.CFP.net/RegisteredPrograms

73. Resources Information and Resources: www.CFP.net/RegisteredPrograms Sample Exam Items: http://www.cfp.net/become/examquestions.asphttp://www.cfp.net/become/examquestions.asp. Communicate: LinkedIn subgroup for Registered Program Directors and Faculty http://bit.ly/RPLnkdhttp://bit.ly/RPLnkd.