Certified Personal Finance - NFEC · 2020-01-17 · zPersonal Finance is a Unique Subject zConnecting Financial Literacy to Lifestyle zCommunication Strategies zzLearning Process

Introduction

Content Knowledge

Financial Coaching Standards & Code of Conduct

Psychological Aspects of Financial Coaching

Coaching Process, Strategies & Skill Building

Understanding Clients

Diagnosing Clients Situation

Goal Setting, Prioritization & Action Steps

Education, Guidance & Accountability

Financial Education Principles for Coaches

Counseling & Psychotherapy Approaches to Financial Coaching

Progress Tracking & Plan Modifications

Recap, Final Exam & Certification Requirements

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Certified Personal Finance Consultant (CPFC)

Training Outline & Table of Contents

zz Welcomez� Welcome

z� Overview & Graduation Requirements

zz Pre-course Measures: Surveys & Testing z� Introduction

z� Course Pre-test

z� Coach Survey & Information

zz Coaching Vision & Objectivesz� Introduction

z� Shared Mission & Objectives

z� Warm Up Activities: KWR & VIQQS

z� Personal Benefits of Coaching

z� Mental Imagery

zz Course Preview & Visual Education z� Introduction

z� Preview Methods: Crib Notes & THEIVES

z� Visual Education

zz Case Method z� Introduction

z� Case Study Warm Up Activities

z� Personal Case Method

Introduction

Introduction

zz Financial Coaching Overview z� Introduction

z� What is a Financial Coach

z� Skill Sets Financial Coaches Develop

z� Impact of Financial Coaching

z� Services Financial Coaches Provide

z� Financial Coaching vs Financial Services and Education

z� Problems in the Financial Coaching Industry

z� Practice Standards of Distinguished Financial Coaches

Content Knowledge

zz Content Knowledgez� Introduction

z� Savings, Expenses & Budgeting

z� Account Management & Financial Team

z� Loans & Debt

z� Credit Profile

z� Income

z� Basic Economic & Government Influences

z� Basic Risk Management & Insurance

z� Basic Investing & Personal Financial Planning

Financial Coaching Standards & Code of Conduct

zz Introduction

zz Ethical Standards z� Fiduciary Standards

z� Coaching Role

z� Financial Coaching vs Financial Advising

z� Security

z� Recordkeeping

z� Addressing Issues

zz Practice Standardsz� Defining Client Relationship

z� Disclosure

z� Understanding Clients

z� Benchmarks

z� Client Education

z� Modifications

zz Professional Standardsz� Professionalism

z� Continuing Education

z� Fiduciary Evaluations

z� Representation

z� Marketing

zz Safeguard Rule Training z� Safeguard Rule Introduction

z� Safeguard Rule General Requirements

z� FTC Safeguard Rule Overview

z� Employee Management & Training

z� Information Systems

z� Detecting and Managing System Failures

z� Project-based Learning

Psychological Aspects of Financial Coaching

zz Introduction

zz Understanding Common Financial Influencers z� Overview Page

z� Common Financial Situations

z� How Financial Behaviors Are Formed

z� How Financial Sentiment is Formed

z� Common Levels of Financial Education

z� Common Money Management Systems

zz Financial Psychology z� Introduction

z� Needs, Emotions, Money, & the Connection

z� How Financial Behaviors & Attitudes Form

z� Identifying Your Financial Behaviors

z� Molding Positive Financial Behaviors

z� Turning Dreams Into Goals & Plans

z� Post Education Case Studies

zz Behavioral Financez� Behavioral Finance & Financial Coaching Introduction

z� Emotional and Social Factors of Behavioral Finance

z� Biases Involved in Personal Finance

z� Additional Behavioral Finance Aspects of Personal Finance

z� Strategies for Financial Coaches & Educators

Coaching Process, Strategies & Skill Building

zz Introduction

zz New Client Onboarding & Environment z� New Client Onboarding & Environment Introduction

z� Setting Up Client Communication Systems

z� Creating a Professional Onboarding Experience

z� Creating a Professional Coaching Environment

zz Customizing the Coaching Program & Process for Clientsz� Customization: Types of Clients

z� Customization: Services Ordered or Offered

z� Time Allocation Overview Based on Total Coaching Time

Understanding Clients

zz Introduction

zz Skills Needed to Understand Your Client z� Intrapersonal Skills to Help You Understand Your Clientz� Listening Strategiesz� Interview Techniques & Style

zz Information Gathering Processes, Questions & Detailsz� Introduction

z� Understanding Clients: Needs, Goals & Psychology

zz Income, Savings & Assetsz� Incomez� Savings z� Assets

zz Housing Expense, Loans & Debt, Budget Preparednessz� Housing Expenses

z� Loans & Debt

z� Budget Preparedness

zz Money Management, Systems & Teamz� Credit Profile

z� Taxes

z� Accounts, Team, & Systems

zz Assets: Protection, Planning & Growing z� Risk Management & Insurance

z� Investing & Personal Financial Planning

zz Project-based Learningz� Project-based Learning

z� Personal Coaching Activity 1: Understanding Your Personal Financial Situation

zz Introduction to Diagnosis

zz Diagnosing Clients Situation

z� Diagnosis Manual Training

z� Project-based Learning – Personal Diagnosis

z� Personal Coaching Activity 2: Diagnosing Your Personal Financial Situation

Diagnosing Clients Situation

Goal Setting, Prioritization & Action Steps

zz Introduction

zz Goal Setting, Prioritization & Action Steps

z� Goal Setting Process with Clients

z� Prioritization of Goals

z� Breaking it Down Goals into Action Steps

z� Personal Coaching Activity 3: Prioritization & Goal Setting

Education, Guidance & Accountability

zz Introduction

zz Education, Guidance & Accountability

z� Educational Resources Overview

z� How to Assign Education Lessons

z� Important lessons to assign early

z� Review Activities & Provide Feedback

z� Providing Accountability

z� Personal Coaching Activity 4: Assign Education & Action

z� Personal Coaching Activity 5: Holding Yourself Accountable & Support

Financial Education Principles for Coaches

zz Introduction

zz Outcome Measuresz� How to Quantify Content Knowledge

z� Participant Impact & Behavior Change

z� Transtheoretical Model of Behavior Change

z� Financial Psychology

z� Money & Emotions

zz Financial Literacy Education Essentialsz� Personal Finance is a Unique Subject

z� Connecting Financial Literacy to Lifestyle

z� Communication Strategies

zz Learning Processz� The Brain & Learning

z� Communication Techniques to Pass Brain Filters

z� Learning Styles & Interest

zz Sales Process for Teaching Personal Finance z� Sales Process: Overview

z� Sales Process Phase 1: Preparation

z� Sales Process Phase 2: Listening & Rapport

z� Sales Process Phase 3: Offer Solutions

z� Sales Process Phase 4: Take Action

z� Sales Process Phase 5: Feedback

z� Sales Process: Wrap Up

Financial Education Principles for Coaches

zz Teaching Method Essentials z� Teaching Method Essentials: Motivate

z� Teaching Method Essentials: Engage

z� Teaching Method Essentials: Educate

z� Teaching Method Essentials: Move to Action

zz Educator Stylez� Educator Style: Authentic Voice

z� Educator Style: Language & Tone

zz NFEC Lesson Plan Methodologyz� Understanding the Learner

z� Introductions

z� Warm-up Activities

z� Educational Reasons

z� Visual Education

z� Lesson Previews

z� Learner-led Education: Case Method

z� Skill-building Activities

z� Lectures

z� Project Based Learning

z� Ongoing Education

Counseling & Psychotherapy Approaches to Financial Coaching

zz Introduction

zz Counseling & Psychotherapy Approaches to Financial Coaching

z� Counseling & Psychotherapy Approaches

for Financial Coaches

z� Drawing the Line Between Coaching and Licensed Counseling Professionals

z� Psychodynamic Approach

z� Behavioral Approach

z� Humanistic Approach

z� Transformative Learning Theory in Financial Coaching

Progress Tracking & Plan Modifications

zz Introduction

zz Progress Tracking & Plan Modificationsz� Framework for Measuring Coaching Program

z� How to Track Client Results & Outcomes

z� Client Reports

z� Re-planning Process

z� Personal Coaching Activity 6: Progress Tracking & Plan Modifications

Recap, Final Exam & Certification Requirements

zz Introduction

zz Recap, Final Exam & Certification Requirements

z� Upload Your Projects

z� Background Check Information

z� Testing Recap & Preparation

z� Register for The Exam