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Financial Planning Education 101: 10 Standout Schools

Every recognized profession has its top colleges. Medical and law schools in the U.S. date back to the 18th century. As a much more recent profession, financial planning has spent much of the last four decades developing its own system of education and professional certification. As many of the current crop of planners near retirement, they don't have to look too far to figure out where the next generation will come from. The answer is in all the schools. Not only has the number of programs been on the rise - up 15% since the past year and a half, according to the CFP Board - but enrollment in the programs themselves has generally been increasing, too. With so many CFP Board-registered programs out there, Financial Planning focused on 10 worthy institutions. We talked to veteran planners and industry leaders to get a sense of which 10 programs belonged in an overview. Our list is not a ranking. Like this survey itself, the information we've gathered is just a starting point. Think of it as Financial Planning Education 101, an introduction.
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The College For Financial Planning

Location: Greenwood Village, Colo.

CFP Board-registered programs: 2 - online certificate program and online graduate program for Master of Science degree in Personal Financial Planning

Enrollment: 5,071 in CFP certificate program; 469 in M.S. planning program

Students who sat for CFP exams so far in 2011: 969

Pass rate of those students: 75%

Faculty: 43 (11 full-time and 32 adjunct)

Tuition: CFP certification program $3,885, including materials and fees

M.S. program: $7,140

Web address: cffpinfo.com
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University of Georgia

Location: Athens, Ga.

CFP Board-registered programs: 5 - College of Family and Consumer Sciences has an undergraduate degree program, master's and doctoral program; Terry College of Business has 2 certificate programs, online and classroom (off campus)

Enrollment: 100 undergraduate, 12 master's, 6 doctoral, several hundred in Terry College online program and 50 in the classroom program

Students who sat for CFP exams so far in 2011: 10 in degree programs, 51 in certificate

Pass rate of those students: 2 graduate students, pass rate 100%; 8 undergraduate students, pass rate 50%; 75% for certificate

Faculty: 5 in financial planning (3 full-time professors, 2 adjunct faculty), 8 supporting full-time professors (3 professors of housing and 5 in consumer economics); 12 instructors for Terry College certificate programs

Tuition: Graduate tuition per semester for in state: $3,600; out of state: $10,950. Undergraduate in state: $3,641; $12,746 nonresident. Most doctoral students and master's students receive graduate assistantships with tuition waiver and stipend. Classroom certificate program is $4,950, or $995 for a single class; online program is $1,995, or $600 for a single class

Web address: financialplanning.uga.edu
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Boston University

Location: Boston, Mass.

CFP Board-registered programs: 2 - online and classroom certificate programs

Enrollment: online: 4,457 through September 2011; 5,942 projected for full year. Classroom: 319

Students who sat for CFP exams so far in 2011: N/A

Pass rate of those students: N/A

Faculty: 20

Tuition: Virtual classroom package, $3,995; online access program $2,295 to $2,895; classroom program $6,365

Web address: http://professional.bu.edu/programs/financial-planning/
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Kansas State

Location: Manhattan, Kan.

CFP Board-registered programs: 4 (undergraduate, master's, Ph.D. and graduate certificate)

Enrollment: 200 (45 undergraduate, 35 certificate, 90 master's, 30 Ph.D.)

Students who sat for CFP exams so far in 2011: 20

Pass rate of those students: undergraduate/master's 67%; certificate 75%; Ph.D. 100%

Faculty: 8

Tuition: $1,395 to $8,370 annually, depending on the degree program

Web address: ipfp.ksu.edu
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Kaplan

Location: Online; classrooms in New York and San Francisco, as well as several private corporate programs

CFP Board-registered programs: 2 - self-paced and accelerated/virtual certificate programs

Enrollment: N/A

Students who sat for CFP exams so far in 2011: N/A

Pass rate of those students: "Kaplan students in the accelerated certificate program have performed better than the national pass rate" since November 2006, based on a July 2011 CFP Board report.

Faculty: 22

Tuition: $4,999 for all six units plus live review of accelerated and virtual programs; $3,999 for self-paced program

Web address: schweser.com/cfp
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San Diego State University

Location: San Diego, Calif.

CFP Board-registered programs: 3 - B.S. in Financial Services with certificate in personal financial planning; M.S. in Business Administration with a concentration in financial and tax planning; executive financial planner advanced certificate (graduate credit certificate).

Enrollment: 110 in all programs

Students who sat for CFP exams so far in 2011: 32

Pass rate of those students: 45% to 75%

Faculty: B.S.: 25; M.S.: 18; executive certificate: 5

Tuition: B.S.: $3,289 per semester in state, $8,869 out of state; M.S.: $6,970 per semester in state, $11,434 out of state; executive financial planner advanced certificate: $7,416 total cost, including books

Web address: sdsu.edu/finplan
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William Paterson University

Location: Wayne, N.J.

CFP Board-registered programs: 2 - undergraduate Bachelor of Science in Business Administration/financial planning and certificate program

Enrollment: 30 (undergraduate)

Students who sat for CFP exams so far in 2011: 3 (undergraduate)

Pass rate of those students: 33% (undergraduate)

Faculty: 4 (2 full-time, 2 adjunct)

Tuition: $5,732 a semester in state; $9,314 out of state; certificate program is $4,600, including textbooks

Web address: https://secure.wpunj.edu/gfsi/cfp.html

Certificate program: http://cms.wpunj.edu/cpe/index.dot
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Texas Tech University

Location: Lubbock, Texas

CFP Board-registered programs: 11, from undergraduate to Ph.D., including minors and dual graduate degrees in financial planning and business or law

Enrollment: 280 full-time majors (125 undergraduates, 120 master's and 35 Ph.D.s)

Students who sat for CFP exams so far in 2011: 34

Pass rate of those students: 38% to 56%

Faculty: 11 full-time and 2 graduate adjuncts

Tuition: Undergraduate, per semester, in state: $3,690; out of state: $7,446; graduate, per semester, in state: $4,290; out of state: $8,046

Web address: pfp.ttu.edu
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Utah Valley University

Location: Orem, Utah

CFP Board-registered programs: 1 (undergraduate major in personal financial planning)

Enrollment: 35

Faculty: 2 full-time financial planning, plus faculty from other departments

Tuition: $2,300 a semester in state; $6,740 out of state

Web address: uvu.edu/woodbury/
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Virginia Tech

Location: Blacksburg, Va.

CFP Board-registered programs: 2, undergraduate Bachelor of Science degree program in either finance or applied economic management

Enrollment: 130

Students who sat for CFP exams so far in 2011: 17

Pass rate of those students: 65%

Faculty: 2 full-time, 5 additional who teach required CFP courses

Tuition: $10,500 per year in state, $24,500 per year out of state

Web address: fnpn.agecon.vt.edu
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