Use Landscape to see Search/Filter
Item Types:
Field of Study:
CPE Hours:
Course Details

Principles of Wealth Management (Course Id 1993)

Updated / QAS / Registry
  Add to Cart 
Author : Paul Winn, CLU, ChFC
Course Length : Pages: 119 ||| Review Questions: 29 ||| Final Exam Questions: 45
CPE Credits : 9.0
IRS Credits : 0
Price : $80.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Finance - Finance for Course Id 1993

Description :

Principles of Wealth Management examines the financial planning discipline, including Its need, as evidenced by the U.S. poverty rate, the U.S. savings rate, the lack of financial retirement readiness and the ever-increasing cost of higher education. The course details the principal steps in developing a financial plan, the critical issues in managing and protecting wealth, the products and concepts available to implement wealth management objectives and their tax treatment.

Usage Rank : 0
Release : 2023
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 18-Apr-2023
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - 1993

Keywords : Finance, Principles, Wealth, Management, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

Upon completion of this course, you should be able to:
  • Discuss the evidence indicating the need for comprehensive financial planning;
  • Recognize the steps in developing a client’s financial plan;
  • Describe the critical issues in managing wealth;
  • Identify the principal products and concepts available to Implement and facilitate wealth management objectives; and
  • Apply the principles of wealth management to improve the financial situation of clients.

Chapter 1
Financial Planning

When you have completed this chapter you should be able to:
  • Identify the purpose of financial planning;
  • List the major categories of financial planning;
  • Recognize the need for financial planning; and
  • List the traditional steps in the financial planning process.

Chapter 2
Critical Issues in Managing Wealth

When you have completed this chapter you should be able to:
  • Recognize the principal issues faced by individuals in their creation and management of wealth, including –
      o maintaining purchasing power in retirement to offset inflation erosion of income,
      o paying for needed long term care services, and
      o minimizing estate transfer costs;
  • Identify appropriate strategies to –
      o estimate income level needed at retirement to maintain a client’s lifestyle,
      o provide for increasing retirement income to maintain purchasing power without risking capital exhaustion, and
      o address long term care risk;
  • Determine the principal causes of retiree purchasing power decline;
  • Discuss the probability that retirees will require long term care services, the current costs for those services and their funding sources; and
  • List the concerns that may affect appropriate asset transfer at death.

Chapter 3
Annuities to Create and Distribute Wealth

When you have completed this chapter you should be able to:
  • Recognize the generally expanded role of annuities in the creation and management of client wealth;
  • List the available fixed annuity variations, including –
      o Bonus annuities,
      o Multi-year guarantee annuities, and
      o Indexed annuities;
  • Identify the features and benefits of indexed annuities that offer principal guarantees and interest crediting based on stock market gains; and
  • Discuss the risks, benefits and operation of variable annuities.

Chapter 4
Long-Term Care Insurance to Protect Wealth

When you have completed this chapter you should be able to:
  • Recognize the risks of requiring long term care;
  • List the benefit triggers found in long term care insurance coverage;
  • Discuss the tax treatment of long term care insurance premiums and benefits;
  • Identify the methods by which long term care insurance benefits may be payable; and
  • Compare the differences between qualified and nonqualified long term care insurance policies.

Chapter 5
Facilitating Wealth Transfer

When you have completed this chapter you should be able to:
  • List and evaluate the various methods of meeting estate settlement costs;
  • Identify methods available to enable clients to provide funds to pay estate settlement costs without increasing the value of the estate for tax purposes;
  • Recognize the importance of asset retitling, trusts and appropriate life insurance ownership arrangements to reduce estate tax costs;
  • Describe the use of life insurance to equalize inheritance; and
  • Discuss how charitable trusts may be employed to reduce estate taxes and increase client income.

Chapter 6
Wealth Accumulation & Protection

When you have completed this chapter you should be able to:
  • Identify the steps employed in the financial planning process;
  • List the critical client objectives that normally need to be addressed in comprehensive financial planning;
  • Apply traditional guidelines to assess a client’s risk-tolerance level;
  • Recognize the advantages for clients of using deferred annuities for accumulating wealth, including –
      o potentially increased accumulations due to tax-deferral,
      o obtaining guaranteed death benefits enabling clients to lock-in gains, and
      o having the ability to reallocate investments without incurring tax costs to address changes in risk-tolerance and in anticipation of market cycles; and
  • Describe how charitable and noncharitable gifting strategies may be effectively used to transfer wealth.

Chapter 7
Income Tax Planning

When you have completed this chapter you should be able to:
  • List the general principles of income tax planning;
  • Describe methods of income and deduction shifting;
  • Identify the common methods of accelerating and deferring income and tax deductions;
  • Explain the concept of tax loss harvesting;
  • Identify the principal tax-favored methods of retirement funding;
  • List the methods of tax-smart education funding, including –
      o Qualified Tuition Programs (QTPs),
      o Coverdell education savings accounts (ESAs),
      o Using education tax credits, and
      o Using the Education Savings Bond program; and
  • Describe the use of health savings accounts (HSAs) to pay qualified medical expenses.
Course Contents :

Course Learning Objectives

Introduction to the Course

Chapter 1 - Financial Planning

Chapter Learning Objectives



Financial Planning Defined

Scope of Financial Planning for the Individual Client

The Need for Financial Planning

U.S. Poverty

U.S. Saving Rate

International Saving Rates Compared

Effects of Saving Rate

National Effects of Saving Rate

Personal Effects of Saving Rate

Post-Secondary Education

Education and Future Income Correlation

Education and Unemployment

College Costs

Student Loan Debt

Financial Retirement Readiness

401(k) Plan Popularity

Shift to 401(k) Plans

401(k) Plan Funding

Deferral Amounts and Investments

Defined Benefit Pension Plans Decline in Favor of 401(k) Plans

Workers Unready to Retire

Workers Dealing with Insufficient Retirement Saving

Steps in Developing a Financial Plan

Obtaining Relevant Client Information

Personal Information

Client Attitudes, Values, Concerns, and Expectations

Financial Information

Annual Income



Relevant Documents


Chapter 1 Review Questions

Chapter 2 - Critical Issues in Managing Wealth

Chapter Learning Objectives


Maintaining One’s Lifestyle

Providing Adequate Retirement Income

Overcoming Purchasing Power Risk

Protecting Assets While Facing Long-Term Care

Likelihood of Needing Long-Term Care

Types of Long-Term Care

Long-Term Care Costs

Sources of Long-Term Care Funding

Transferring Assets to the Next Generation

Determining Asset Disposition

Minimizing Estate Transfer Costs

Asset Retitling

Trust Creation

Deferred Charitable Giving Programs

Estate Tax Portability Provision

Ensuring Liquidity

Replacing Gifted Assets

Equalizing Inheritance

Providing Estate Liquidity


Chapter 2 Review Questions

Chapter 3 - Annuities to Create and Distribute Wealth

Chapter Learning Objectives


The Concept

Traditional Role

Accumulation Period

Distribution Period

Life Annuities

Temporary Annuities

Traditional Fixed Annuity Characteristics


Number of Lives Covered

Annuity Starting Date

Accumulated Value


Tax Treatment

Taxability of Withdrawals

Taxability of Periodic Payments

Tax Rules Changed for Qualified LTC Coverage Charges

Tax Treatment of Deferred Annuities at Death

Fixed Annuity Variations

Multi-Year Guarantee Annuities

Bonus Annuities

Indexed Annuities

Variable Annuities


Chapter 3 Review Questions

Chapter 4 - Long-Term Care Insurance to Protect Wealth

Chapter Learning Objectives


The Concept

Benefits Provided by Long-Term Care Insurance

Nursing Home

Home Care

Assisted Living Facility

Adult Day Care Facility

Hospice Care

Benefit Triggers

Product Characteristics

Elimination Period

Benefit Period

Inflation Protection

Qualified Versus Nonqualified Policies

Tax Status of Long-Term Care Policies

Changed Benefit Triggers

Alternatives to Stand-Alone Long-Term Care Insurance

Deferred Annuity/LTC Hybrid Products

Life Insurance/LTC Hybrid Products


Chapter 4 Review Questions

Chapter 5 - Facilitating Wealth Transfer

Chapter Learning Objectives


The Concept

Providing Estate Liquidity

Cash in the Estate

Selling Assets


Using Life Insurance

Equalizing Inheritance

Replacing Gifted Assets

Characteristics of Life Insurance Policies

Whole Life Insurance



Cash Values

Death Benefits


Advantages and Disadvantages of Whole Life Insurance

Universal Life Insurance



Cash Values

Death Benefits


Advantages and Disadvantages of Universal Life Insurance

Survivorship Life Insurance

Advantages and Disadvantages of Survivorship Life Insurance


Chapter 5 Review Questions

Chapter 6 - Wealth Accumulation & Protection

Chapter Learning Objectives


Beginning the Process—Needs Assessment

Gathering Information

Setting Objectives and Priorities

Determining Risk Tolerance

Developing the Plan

Budgeting Income

Identifying and Evaluating Alternative Strategies

Wealth Accumulation

Wealth Protection

Long-Term Care Insurance for Working Adults

Long-Term Care Insurance for Older Purchasers

Wealth Transfer


Chapter 6 Review Questions

Chapter 7 - Income Tax Planning

Chapter Learning Objectives


Effect of Income Taxes on Accumulation

General Personal Income Tax Planning Principles

Income and Deduction Shifting

Acceleration and Deferral Techniques

Harvesting Year-End Investment Losses

Wash Sale Rules

Delayed Mutual Fund Purchases

Specific Personal Income Tax Strategies

Funding Retirement Income

Tax-Favored Employer Retirement Plans

Defined Benefit Plans

Defined Contribution Plans

401(k) Plans

403(b) Tax Sheltered Annuity Plans

Solo 401 (k) Plans

Individual Retirement Plans

Traditional IRA

Roth IRA

Nonqualified Annuities

Funding Children’s College Education

Qualified Tuition Programs

Prepaid Tuition Plans

College Savings Plans

Limits on Contributions

Tax Treatment of Qualified Tuition Programs

Qualified Tuition Program Contributions Not Deductible and are Considered Gifts

College Savings Plan Distributions may be Tax-Free

Qualified Tuition Program Advantages and Disadvantages

Coverdell Education Savings Account

Limits on Contributions

Eligible ESA Beneficiaries

Tax Considerations

Tax-Free ESA Distributions

Education Tax Credits

American Opportunity Credit

Overview of the American Opportunity Credit

Eligibility to Claim an American Opportunity Credit

Lifetime Learning Credit

Overview of the Lifetime Learning Credit

Eligibility to Claim a Lifetime Learning Credit

Education Savings Bond Program

Qualified U.S. Savings Bonds

Figuring the Potentially Tax-Free Amount

Education Savings Bond Program Eligibility Subject to Income Limits/Filing Status

Education Savings Bond Program Advantages

Paying for Medical Care

Health Savings Accounts

HSA Eligibility

HSA High Deductible Health Plan Requirement

HSA Contributions

Additional Contributions for Age 55 and Older Account Holders

Employer HSA Participation

HSA Distributions

Account Transfer at Death

HSA Tax Treatment

Contribution Tax Treatment

Distribution Tax Treatment

Tax-Free HSA Distributions

Taxable HSA Distributions

HSA Distribution Tax Penalty

Health Savings Account Benefits


Chapter 7 Review Questions




Annuity Contracts

Education Funds

Retirement Assets


CPE Finance Course: https://www.cpethink.com/cpe-for-cpas
Thank you for taking one of our free courses. We would like to be able to let you know when we add free courses or have special offers and will never spam you or share your address with anyone. If you are Ok with that please reply with "Ok" or if not please reply "No Thanks". Either way enjoy your free CPE course.
Exam completed on .

Do you want to add the course again?