Utilizing Financial Planning Software in the Classroom

1
Utilizing Financial Planning Software in the
Classroom

• Craig Lemoine, CFP
• The American College

2
Todays Presentation

• Software Taxonomy
• The Technical Tool Kit
• Applications in Financial Planning Curriculums
• Developing Strategic Partnerships
• Discussion

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Software Taxonomy

• Taxonomy helps answer the question. What types
  of software tools are useful in a personal
  financial planning curriculum?
• Kingdom
• Computer Programs
• Online Calculators
• Phylum
• Productivity
• Presentation
• Class
• Office Tools
• Personal Finance
• Order
• Financial Planning
• Portfolio Management
• Customer Relationship Management
• Investment Analysis
• Decision Making
• Project Management
• Business Operations

4
Software Taxonomy

• Family
• Web Based
• Network Based
• Stand Alone PC
• Type of Input
• Type of Output
• Paper
• Digital
• Genus
• Methodology Questions
• Cash Flow Based
• Goal Based
• Mathematical Function
• Customized Output
• Level of Compliance
• User Competency
• Learning Curve
• Species!!

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The Technical Tool Kit

• Toolkit Handy
• Integrate Programs around Curriculum and Learning
  objectives

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The Technical Tool Kit

• Efficiency
• Spreadsheet
• Calculator
• Pencil Paper
• Learning Styles
• Charts Graphs
• Tables
• Audio

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Applications in Financial Planning Curriculums

• Applied Elements
• Design
• Create
• Monitor
• Track
• Develop

• Core Knowledge
• Topic Areas
• TVM
• Content
• Strategy
• Understanding

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Applications in Financial Planning Curriculums

• Models
• One Class vs. Across the Spectrum
• 3rd, 4th year and Masters Students
• Own Pace
• Web Based
• Remote Log In
• The nature of software lends itself to Student
  Managed Funds Case Studies
• Certification Programs
• Applications across spectrum struggle with
  Estate Planning

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Developing Strategic Partnerships

• Software Vendors Want to Help
• Altruism
• Industry Trend
• Potential to Change the World
• Define Program Needs
• Curriculum
• Taxonomy
• Resources!!
• Outcomes

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Developing Strategic Partnerships

• Outcomes (Expanded)
• What companies are used in graduates marketplace
• Potential (Common) Employers
• Ask Graduates and Alumni
• Industry Trends
• Forrester Report
• Journal of Financial Planning
• Industry Conferences
• The Vendor Room

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Developing Strategic Partnerships

• Contact Potential Partners
• Usage
• Length of Licenses
• Training!!
• Help Files
• Webinar
• Live
• Put a System in Place
• Fluid
• Dynamic

12
Discussion Challenges

• Changing Marketplace
• Resources
• Time
• Teaching, Training Trying
• Research Uses
• Morningstar
• Monte Carlo
• Advanced Modeling