Overview - 2019/2020
The Professional Financial Services program will give you the skills you need for limitless career success. This one-year graduate certificate is designed for university and college graduates looking for a career in financial services. You'll learn about personal financial management, tax and retirement planning, insurance, investment and estate planning. You will also study the importance of people skills - critical for working with clients, evaluating their needs and offering financial advice. Available 100% online or in a traditional in-class format with a September and January admission.
If you are thinking about completing your diploma online you can assess your readiness with www.amiready.ca, Fanshawe's Online Readiness Indicator, a measure of the degree to which distance learning and/or learning in a technology rich environment is the right fit for you. We also have a handy checklist to guide you along the way to becoming an online learner.
Qualified graduates can continue on to acquire industry designations and/or licenses, including the CFP® (Certified Financial Planner®) designation awarded by the Financial Planning Standards Council. Students are also prepared to write the Canadian Securities Course® and Life Licensing Qualification Program examinations as prerequisites to securities and life insurance licensing. Students will also have completed the Mutual Funds Licensing course.
Lawrence Lynch, B.A., C.F.P.
Phone: 519-452-4430 x4396
Admission Requirements - 2019/2020
A Two- or Three-Year College Diploma, or a Degree
(Note: minimum 'C+' average or cumulative 2.5 GPA)
Acceptable combination of related work experience and post-secondary education as judged by the College*
Five years of work experience in the Financial Services Industry as judged by the College to be equivalent*
- *Applicants may be required to submit a resume and cover letter that includes details of work experience.
English Language Requirements
Applicants whose first language is not English will be required to demonstrate proficiency in English by one of the following methods:
- A Grade 12 College Stream or University Stream English credit from an Ontario Secondary School, or equivalent, depending on the program's Admission Requirements
- Test of English as a Foreign Language (TOEFL) test with a minimum score of 570 for the paper-based test (PBT), or 88 for the Internet-based test (iBT), with test results within the last two years
- International English Language Testing System (IELTS) Academic test with an overall score of 6.5 with no score less than 6.0 in any of the four bands, with test results within the last two years. SDS Program Requirements.
- Canadian Academic English Language (CAEL) test with an overall score of 70 with no score less than 60 in any of the four bands, with test results within the last two years
- Pearson Test of English Academic (PTE) with a minimum score of 59, with test results within the last two years
- A Cambridge English Test (FCE/CAE/CPE) with an overall score on the Cambridge English Scale of 176 with no language skill less than 169, with test results within the last two years
- An English Language Evaluation (ELE) at Fanshawe College with a minimum score of 75% in all sections of the test, with test results within the last two years
- Fanshawe College ESL4/GAP5 students: Minimum grade of 80% in ESL4/GAP5 Level 9 or 75% in ESL4/GAP5 Level 10
Recommended Academic Preparation
- It is highly recommended that students be proficient in the following areas before entry into the program:
- Business Communication
- Computer applications, particularly Microsoft Word, Excel and PowerPoint
- Applicants may apply for advanced standing on the basis of previous academic achievement at another institution and/or Prior Learning Assessment and Recognition (PLAR). Advanced standing qualifies the applicant for direct entry to a second or higher level of the program.
Applicant Selection Criteria
Where the number of eligible applicants exceeds the available spaces in the program, the Applicant Selection Criteria will be:
- Preference for Permanent Residents of Ontario
- Receipt of Application by February 1st (After this date, Fanshawe College will consider applicants on a first-come, first-served basis until the program is full)
- Achievement in the Admission Requirements
Professional Financial Services-2019/2020
Level 1 Credits FINA-6012 Canadian Securities 1 4 Canadian residents wishing to sell securities or advise clients on securities must be licensed and the Canadian Securities Course is the first step toward obtaining a license. FINA-6012 has the same content as Volume I of the Canadian Securities Course and covers the Canadian economy and investment marketplace, fixed income securities, equity securities, managed products, structured products, derivatives and corporations and their financial statements. FINA-5008 Professional Financial Planning 4 This course introduces students to the segmented topics of personal financial planning and the industry-recognized financial planning process. Students will gather and analyze client information to develop personal financial statements and identify client goals and constraints as the first step in developing financial planning strategies. In addition, students will learn strategies for managing liquidity, personal financing, risk protection, personal investing, retirement planning, and estate planning. Students will apply time value of money calculations, and the CFP Code of Ethics to financial planning situations. Students are required to complete assignments that require integration of topics to create a financial plan. INSR-6001 Insurance Planning 4 This course is a preparatory course for provincial licensing requirements for those who wish to sell life insurance and other life insurance products in Ontario. Topics discussed in this course include individual and group life insurance, disability insurance, insurance investment products, underwriting and claims processes, the risk management process and legal and professional standards. FINA-6010 Financial Business Development 3 This course covers the critical issues of building, growing and managing a financial services business. Topics include Emotional Intelligence Quotient and your career, client development and service, marketing to clients, and the development of a framework for an individual business plan, specific to you and your future. FINA-6008 Professional Retirement Planning 3 This course provides a detailed look at the many sources of retirement income available to Canadians and how individuals can plan for their retirement, considering income needs, alternative savings/retirement income vehicles and taxation issues. The course discusses how the financial planner can provide assistance to clients in retirement planning. FINA-6003 Consumer Credit 3 This course provides students with an in-depth knowledge of consumer and mortgage lending from a lender's perspective. Topics include: the types of credit available to match consumers' needs, the application and assessment process, investigation, documentation and collection methods. Level 2 Credits FINA-6013 Canadian Securities 2 4 Any Canadian resident who wishes to be licensed to sell securities or provide security investment advice to clients or customers anywhere in Canada must successfully complete the Canadian Securities Course. FINA-6013 has the same content as Volume II of the Canadian Securities Course and covers investment analysis, security valuation, portfolio development, mutual funds, segregated funds, hedge funds, other managed products, taxation, and financial planning. LAWS-6014 Law, Ethics & Conduct 3 This course is an introduction to Canadian Business Law with an emphasis on the areas of law most pertinent to employees, managers and agents working in the financial services industry. Students must apply the industry code of ethics to identify appropriate conduct standards when faced with a wide variety of client circumstances. FINA-6009 Trust & Estate Planning 3 This course reviews and discusses the importance of tools such as life insurance, wills, powers of attorney and trusts in estate planning, as well as the preservation and the inter-generational transfer of personal and business assets. This course will show the role risk and estate planning plays in a proper financial plan. You will learn strategies that can be used to transfer assets to beneficiaries in the most efficient manner. FINA-6015 Comprehensive Financial Planning 3 This course will examine financial planning on a more inclusive and comprehensive scale. Comprehensive financial planning involved the process of collecting client information and analysing that information for the purpose of making recommendations to the client. The 6 areas under examination are 1) Financial Management, 2) Risk Management, 3) Retirement Planning, 4) Tax Planning, 5) Estate Planning, and 6) Asset Management. The intent of this course is not to bring up a great many new topics but rather to examine how to draw from the other CFP courses in the program and tie the analysis together in order to develop a single financial plan for the client. The six step process will be followed in conjunction with the CFP code of ethics and practice standards. FINA-6005 Taxation & Tax Planning 4 This course provides students with an understanding of the objectives and principles of Income Taxation in Canada. The topics covered include the role of government in income tax administration, liability for personal income tax, employment, business, property, capital gains, other income, deductions, tax credits and the calculation of taxes payable for individuals resident in Canada. In addition it explores advanced concepts related to personal tax affairs and tax planning strategies including the capital gains system, capital cost allowance, capital dividends, eligible capital expenditures, alternative minimum tax and income attribution. MGMT-3059 Strategic Client Engagement 4 This course introduces students to the principles and application of the sales process. Included in this course are the following topics: prospecting, approach, presentation, close techniques, objection handling, and relationship management. Students are required to execute an effective individual sales presentations, conduct interviews, and complete written proposals and reports.
Careers - 2019/2020
Graduates of Professional Financial Services are prepared to enter the financial services sector in a variety of fields, including customer service, banking, wealth management, life insurance, investments and credit financial planning. Graduates are suited to a variety of junior-level to intermediate-level positions, including sales representative, customer service supervisor, call centre supervisor, loan officer, mortgage specialist, bank supervisor, insurance advisor, investment advisor, tax advisor, credit counsellor, financial planner, wealth manager, retirement planners, estate planner and securities dealer.
More Information - 2019/2020A One-Year Ontario College Graduate Certificate Program
Offered as a Weekday Program and as an Online ProgramProgram Code: FSP1
Campus Code: LC (LC - London)
15 week terms
Academic Calendars available at www.fanshawec.ca/academicdates
Program Code: FSP1
Campus Code: LCL (LCL - London-Online)
15 week terms
Academic Calendars available at www.fanshawec.ca/academicdates
ContactLawrence Kinlin School of Business: 519-452-4290
Professional Financial Services is a one-year Ontario College Graduate Certificate program, completed in two four-month levels. The program is designed to leverage a university or college credential in any discipline by providing a fast track to a career as a Professional Financial Planner. An intensive curriculum prepares graduates to provide clients with professional advice to build wealth and ensure financial security through setting goals, managing finances, minimizing tax, managing life's risks, and building investment portfolios, as well as customer relations and providing product to clients. The curriculum prepares students to pursue the Certified Financial Planner® CFP®, with the CFP designation awarded by the Financial Planning Standards Council www.fpsc.ca. Graduates complete the Registered Retirement Consultant curriculum and may challenge the RRC® designation assessment. Students are prepared to write the Canadian Securities Course® CSC® and Life Licensing Qualification Program exams. Upon successful completion of the program and external examinations, graduates are well equipped with skills and credentials to enter a wide variety of careers in banking, investment, insurance, credit and financial planning.
- Students entering Level 1 of Professional Financial Services in January are expected to proceed to Level 2 of the program in the summer term.
- Applicants applying to the Online version of the program should select Campus Code LCL (LCL-London - Online).
- Applicants applying to the Online version of the program should ensure they have appropriate technological capacity to complete the program, including access to a computer, required software and internet access for each course in the program.
- Students with diplomas or degrees in any discipline are encouraged to apply. There is no expectation of business or finance education prior to admission.
- Completion of external examinations related to obtaining insurance, securities and financial planning licensing is at the discretion of the students and would depend on their occupational objectives.
- Professional Financial Services has higher than normal associated costs for materials, external registrations and external exams.
The graduate has reliably demonstrated the ability to
1. Analyse client information to formulate financial planning strategies.
2. Create a comprehensive financial plan.
3. Analyse customer credit capacity and select loan instruments to meet customer needs.
4. Evaluate Canadian statute law as it applies to the formulation of financial planning strategy.
5. Analyse compliance cases to reconcile planner advice and conduct, against accepted industryconduct and practice standardsthat reflect the industry code of ethics.
6. Plan tax minimization strategies for clients.
7. Evaluate client risk tolerance, net worth and wealth creation potential to select appropriate investments most likely to achieve client goals and objectives.
8. Analyse client or business risk manageemnt needs and recommend appropriate insurance product strategies.
9. Evaluate client estate and personal care needs in order to recommend strategies to ensure efficient estate distribution and continuity of personal care.
10. Develop a financial services business plan to build long term relationships, maintain efficient client communication and ensure accurate client records management.
11. Evaluate the Canadian financial services industry, capital markets efficiency, regulatory issues and global integration.
12. Evaluate financial products and recommend asset allocation strategies in a constantly changing economic and political environment