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Duluth Campus

Financial Planning Minor

Accounting and Finance
Labovitz School of Business and Economics
  • Program Type: Undergraduate minor related to major
  • Requirements for this program are current for Fall 2023
  • Required credits in this minor: 24 to 36
The financial planning minor is designed to be a Certified Financial Planner (CFP) board-registered program so it can be used to fulfill the education requirements for the CFP certification. Upon completion of this program, students are eligible to sit for the CFP Board of Standard certification examination, leading to the professional CFP designation.
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
Admission Requirements
A GPA above 2.0 is preferred for the following:
  • 2.60 already admitted to the degree-granting college
  • 2.60 transferring from another University of Minnesota college
  • 2.60 transferring from outside the University
Admission to the minor is competitive and a planned admission process will be established to manage the cohort through the two-year time frame.
For information about University of Minnesota admission requirements, visit the Office of Admissions website.
Minor Requirements
The Financial Planning minor is available to both LSBE students and non-LSBE students. Requirements are described below.
Program Sub-plans
Students are required to complete one of the following sub-plans.
Financial Planning Minor for BBA/BAcc Students
Financial Planning (24 cr)
ACCT 2001 - Principles of Financial Accounting (3.0 cr)
ACCT 3401 - Individual Income Taxation (3.0 cr)
ACCT 4600 - Employee Benefit and Retirement Planning (3.0 cr)
BLAW 4301 - Estate Planning Concepts and Strategies (3.0 cr)
FIN 3601 - Corporate Finance (3.0 cr)
FIN 3644 - Investment Fundamentals (3.0 cr)
FIN 3655 - Risk Management and Insurance (3.0 cr)
FIN 4646 - Financial Plan Development (3.0 cr)
Financial Planning Minor - Econ BA & Non-LSBE
Pre-minor Requirements (15 cr)
ACCT 2001 - Principles of Financial Accounting (3.0 cr)
BLAW 2001 - The Legal Environment [LE CAT8, HUMANITIES] (3.0 cr)
ECON 1022 - Principles of Economics: Macro [LE CAT, SOC SCI] (3.0 cr)
ECON 1023 - Principles of Economics: Micro [LE CAT, SOC SCI] (3.0 cr)
ECON 2030 - Applied Statistics for Business and Economics [LOGIC & QR] (3.0 cr)
An equivalent statistics course may be allowed in place of ECON 2030; students must consult with an adviser for prior approval.
Upper Division Prerequisite Requirement (3 cr)
FIN 3601 - Corporate Finance (3.0 cr)
Financial Planning Required Courses (18 cr)
ACCT 3401 - Individual Income Taxation (3.0 cr)
ACCT 4600 - Employee Benefit and Retirement Planning (3.0 cr)
BLAW 4301 - Estate Planning Concepts and Strategies (3.0 cr)
FIN 3644 - Investment Fundamentals (3.0 cr)
FIN 3655 - Risk Management and Insurance (3.0 cr)
FIN 4646 - Financial Plan Development (3.0 cr)
 
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· Labovitz School of Business and Economics


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· Financial Planning Minor
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ACCT 2001 - Principles of Financial Accounting
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Concepts of financial accounting and external reporting. Nature and measurement of assets, liabilities, equities, revenues, expenses. Emphasis on use and understanding of external financial statements. prereq: Minimum 15 credits or college consent
ACCT 3401 - Individual Income Taxation
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Provides an understanding of how taxes impact personal financial decisions. Takes tax planning/minimization perspective and provides basic information on reporting tax positions to the IRS. In addition to tax planning and compliance, the student will be exposed to basic tax concepts. prereq: Credit will not be granted if already received for ACCT 3152 or 4152; LSBE candidate or approved non-LSBE accounting minor or college consent
ACCT 4600 - Employee Benefit and Retirement Planning
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
This course will provide preparation for professionals who will be providing employee benefits and retirement planning services for clients. The course will focus on the importance of retirement planning, an evaluation of the client's needs, and understanding of Social Security and Medicare, and qualified and non-qualified retirement plans. prereq: Acct 3401, LSBE candidate, no grad credit
BLAW 4301 - Estate Planning Concepts and Strategies
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Periodic Spring
Examines the basics of estate planning, including both the legal and tax aspects of developing an estate and/or incapacity plan. Topics include: probate and probate substitutes, wills and other estate planning documents, gifting and insurance strategies, use of trusts, and federal estate, gift and generation-skipping taxation. prereq: Acct 3401, LSBE candidate or college consent; credit will not be granted if already received for 3301; no grad credit
FIN 3601 - Corporate Finance
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Fundamental concepts of managerial financial decision making. Time value of money, valuation, risk and return, financial statement analysis, short-run financial management, capital budgeting, cost of capital, long-term financing, and corporate taxation. prereq: LSBE candidate or approved non-LSBE business administration minor or approved Finance minor or college consent; credit will not be granted if already received for FMIS 3601
FIN 3644 - Investment Fundamentals
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Comprehensive introduction to nature, problems, and process of evaluating particular securities and portfolio construction. Survey of basic principles of security analysis, analytical techniques, and investment policy for individual and institutional investors. Introduction to computer-assisted investment analysis. prereq: FMIS 3601 or FIN 3601, LSBE candidate or approved finance minor or college consent; credit will not be granted if already received for FMIS 3644
FIN 3655 - Risk Management and Insurance
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Foundations as well as the economic, financial and legal issues surrounding risk management and insurance. Students will discuss and analyze risk management techniques currently used in business and examine different types of insurance policies. prereq: FMIS 3601 or FIN 3601, LSBE candidate or approved Finance minor or instructor consent; credit will not be granted if already approved for FMIS 3655
FIN 4646 - Financial Plan Development
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Financial planning is the process of managing resources to achieve personal financial goals. It involves the steps of determining current financial situations, developing financial goals, identifying alternative courses of actions, evaluation alternatives, creating financial action plans, and finally evaluating and revising plans. This course provides the systematic framework for implementing these activities. prereq: FMIS 3601 or FIN 3601, FMIS 3644 or FIN 3644, FMIS 3655 or FIN 3655, ACCT 2001 and 3401 and 4600, BLAW 3301 (can be taken concurrently); no grad credit; credit will not be granted if already received for FMIS 4646
ACCT 2001 - Principles of Financial Accounting
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Concepts of financial accounting and external reporting. Nature and measurement of assets, liabilities, equities, revenues, expenses. Emphasis on use and understanding of external financial statements. prereq: Minimum 15 credits or college consent
BLAW 2001 - The Legal Environment (LE CAT8, HUMANITIES)
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Introduction to U.S. legal system and its impact on modern business operations. Ethical, economic, social, and political perspectives of legal environment. Constitutional law, administrative regulation, torts and products liability, contracts, business organizations, employment/labor law. prereq: Minimum 30 credits
ECON 1022 - Principles of Economics: Macro (LE CAT, SOC SCI)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Analyzing overall performance of an economic system. National income accounting and theory, unemployment, inflation, fiscal policy, money, monetary policy, economic growth, international trade, non-U.S. economies, and real-world application of these concepts. prereq: Minimum 15 credits or department consent
ECON 1023 - Principles of Economics: Micro (LE CAT, SOC SCI)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Analyzing free enterprise system through study of product and resource markets. Supply and demand, utility, production and cost, market structure, resource use, market failures, regulatory role of government, and real-world application of these concepts. prereq: Minimum 15 credits or department consent
ECON 2030 - Applied Statistics for Business and Economics (LOGIC & QR)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Introduction to modern business statistics, emphasizing problem solving applications through statistical decision making using case studies. Topics include organization and presentation of data, summary statistics, distributions, statistical inference including estimation, and hypothesis testing. prereq: minimum 30 credits, LSBE student, pre-business or pre-accounting or Econ BA major or Graphic Design and Marketing major or Graphic Design with Marketing subplan major or Econ minor or Accounting minor or Business Admin minor or Arts Administration; credit will not be granted if already received for Econ 2020, Stat 1411, Stat 2411, Stat 3611, Soc 3151, Psy 3020
FIN 3601 - Corporate Finance
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Fundamental concepts of managerial financial decision making. Time value of money, valuation, risk and return, financial statement analysis, short-run financial management, capital budgeting, cost of capital, long-term financing, and corporate taxation. prereq: LSBE candidate or approved non-LSBE business administration minor or approved Finance minor or college consent; credit will not be granted if already received for FMIS 3601
ACCT 3401 - Individual Income Taxation
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Provides an understanding of how taxes impact personal financial decisions. Takes tax planning/minimization perspective and provides basic information on reporting tax positions to the IRS. In addition to tax planning and compliance, the student will be exposed to basic tax concepts. prereq: Credit will not be granted if already received for ACCT 3152 or 4152; LSBE candidate or approved non-LSBE accounting minor or college consent
ACCT 4600 - Employee Benefit and Retirement Planning
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
This course will provide preparation for professionals who will be providing employee benefits and retirement planning services for clients. The course will focus on the importance of retirement planning, an evaluation of the client's needs, and understanding of Social Security and Medicare, and qualified and non-qualified retirement plans. prereq: Acct 3401, LSBE candidate, no grad credit
BLAW 4301 - Estate Planning Concepts and Strategies
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Periodic Spring
Examines the basics of estate planning, including both the legal and tax aspects of developing an estate and/or incapacity plan. Topics include: probate and probate substitutes, wills and other estate planning documents, gifting and insurance strategies, use of trusts, and federal estate, gift and generation-skipping taxation. prereq: Acct 3401, LSBE candidate or college consent; credit will not be granted if already received for 3301; no grad credit
FIN 3644 - Investment Fundamentals
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Comprehensive introduction to nature, problems, and process of evaluating particular securities and portfolio construction. Survey of basic principles of security analysis, analytical techniques, and investment policy for individual and institutional investors. Introduction to computer-assisted investment analysis. prereq: FMIS 3601 or FIN 3601, LSBE candidate or approved finance minor or college consent; credit will not be granted if already received for FMIS 3644
FIN 3655 - Risk Management and Insurance
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Foundations as well as the economic, financial and legal issues surrounding risk management and insurance. Students will discuss and analyze risk management techniques currently used in business and examine different types of insurance policies. prereq: FMIS 3601 or FIN 3601, LSBE candidate or approved Finance minor or instructor consent; credit will not be granted if already approved for FMIS 3655
FIN 4646 - Financial Plan Development
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Financial planning is the process of managing resources to achieve personal financial goals. It involves the steps of determining current financial situations, developing financial goals, identifying alternative courses of actions, evaluation alternatives, creating financial action plans, and finally evaluating and revising plans. This course provides the systematic framework for implementing these activities. prereq: FMIS 3601 or FIN 3601, FMIS 3644 or FIN 3644, FMIS 3655 or FIN 3655, ACCT 2001 and 3401 and 4600, BLAW 3301 (can be taken concurrently); no grad credit; credit will not be granted if already received for FMIS 4646