Personal Finance and Wealth Management

  1. Professional Wealth Management
    1. Financial Advisory Landscape
      1. Types of Financial Professionals
        1. Certified Financial Planner
          1. Chartered Financial Analyst
            1. Personal Financial Specialist
              1. Chartered Financial Consultant
                1. Wealth Managers
                  1. Investment Advisors
                    1. Broker-Dealers
                      1. Insurance Agents
                        1. Tax Professionals
                          1. Estate Planning Attorneys
                          2. Professional Designations and Credentials
                            1. Education Requirements
                              1. Experience Requirements
                                1. Continuing Education
                                  1. Ethical Standards
                                  2. Regulatory Environment
                                    1. Securities and Exchange Commission
                                      1. Financial Industry Regulatory Authority
                                        1. State Insurance Commissioners
                                          1. Department of Labor
                                        2. Advisor Selection and Evaluation
                                          1. Defining Advisory Needs
                                            1. Comprehensive Planning
                                              1. Investment Management
                                                1. Specialized Planning Areas
                                                  1. Implementation Support
                                                  2. Advisor Search Process
                                                    1. Referral Sources
                                                      1. Online Resources
                                                        1. Interview Process
                                                          1. Due Diligence Checklist
                                                          2. Key Questions for Potential Advisors
                                                            1. Qualifications and Experience
                                                              1. Services Provided
                                                                1. Client Communication
                                                                  1. Fee Structure
                                                                    1. Investment Philosophy
                                                                    2. Red Flags and Warning Signs
                                                                      1. Unrealistic Promises
                                                                        1. High-Pressure Sales Tactics
                                                                          1. Lack of Transparency
                                                                            1. Regulatory Issues
                                                                          2. Fiduciary Standards and Ethics
                                                                            1. Fiduciary Standard Definition
                                                                              1. Duty of Care
                                                                                1. Duty of Loyalty
                                                                                  1. Best Interest Standard
                                                                                  2. Suitability Standard
                                                                                    1. Reasonable Basis Suitability
                                                                                      1. Customer-Specific Suitability
                                                                                        1. Quantitative Suitability
                                                                                        2. Regulatory Differences
                                                                                          1. Investment Advisor Act of 1940
                                                                                            1. Securities Exchange Act of 1934
                                                                                              1. FINRA Rules
                                                                                                1. State Regulations
                                                                                                2. Conflicts of Interest
                                                                                                  1. Identifying Conflicts
                                                                                                    1. Disclosure Requirements
                                                                                                      1. Conflict Management
                                                                                                    2. Advisor Compensation Models
                                                                                                      1. Fee-Only Compensation
                                                                                                        1. Assets Under Management Fees
                                                                                                          1. Hourly Fees
                                                                                                            1. Project-Based Fees
                                                                                                              1. Retainer Fees
                                                                                                              2. Commission-Based Compensation
                                                                                                                1. Product Sales Commissions
                                                                                                                  1. Transaction-Based Fees
                                                                                                                    1. Trailing Commissions
                                                                                                                    2. Fee-Based Compensation
                                                                                                                      1. Combination Models
                                                                                                                        1. Disclosure Requirements
                                                                                                                        2. Compensation Transparency
                                                                                                                          1. Form ADV Disclosures
                                                                                                                            1. Fee Schedules
                                                                                                                              1. Total Cost Analysis
                                                                                                                            2. The Financial Planning Process
                                                                                                                              1. Client Discovery and Data Gathering
                                                                                                                                1. Financial Goal Identification
                                                                                                                                  1. Risk Tolerance Assessment
                                                                                                                                    1. Current Financial Position Analysis
                                                                                                                                      1. Family Situation Review
                                                                                                                                        1. Values and Priorities Discussion
                                                                                                                                        2. Financial Analysis and Planning
                                                                                                                                          1. Cash Flow Analysis
                                                                                                                                            1. Net Worth Calculation
                                                                                                                                              1. Insurance Needs Analysis
                                                                                                                                                1. Investment Portfolio Review
                                                                                                                                                  1. Tax Planning Analysis
                                                                                                                                                    1. Retirement Planning Projections
                                                                                                                                                      1. Estate Planning Review
                                                                                                                                                      2. Plan Development and Presentation
                                                                                                                                                        1. Recommendation Formulation
                                                                                                                                                          1. Alternative Strategy Analysis
                                                                                                                                                            1. Implementation Timeline
                                                                                                                                                              1. Cost-Benefit Analysis
                                                                                                                                                                1. Plan Documentation
                                                                                                                                                                2. Implementation and Coordination
                                                                                                                                                                  1. Account Opening and Funding
                                                                                                                                                                    1. Insurance Application Process
                                                                                                                                                                      1. Tax Strategy Implementation
                                                                                                                                                                        1. Professional Team Coordination
                                                                                                                                                                        2. Ongoing Monitoring and Review
                                                                                                                                                                          1. Performance Monitoring
                                                                                                                                                                            1. Plan Updates and Adjustments
                                                                                                                                                                              1. Life Change Adaptations
                                                                                                                                                                                1. Regular Review Meetings
                                                                                                                                                                                  1. Progress Tracking
                                                                                                                                                                                2. Working with Professional Teams
                                                                                                                                                                                  1. Building a Professional Team
                                                                                                                                                                                    1. Financial Advisor
                                                                                                                                                                                      1. Tax Professional
                                                                                                                                                                                        1. Estate Planning Attorney
                                                                                                                                                                                          1. Insurance Specialist
                                                                                                                                                                                            1. Investment Manager
                                                                                                                                                                                            2. Team Coordination and Communication
                                                                                                                                                                                              1. Information Sharing
                                                                                                                                                                                                1. Strategy Alignment
                                                                                                                                                                                                  1. Implementation Coordination
                                                                                                                                                                                                    1. Ongoing Collaboration
                                                                                                                                                                                                    2. Managing Professional Relationships
                                                                                                                                                                                                      1. Setting Expectations
                                                                                                                                                                                                        1. Communication Protocols
                                                                                                                                                                                                          1. Performance Evaluation
                                                                                                                                                                                                            1. Relationship Maintenance

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                                                                                                                                                                                                        7. Estate and Wealth Transfer Planning

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                                                                                                                                                                                                        1. Foundations of Personal Finance