As a financial advisor, you’ll do more than crunch numbers; you will be helping people make good decisions about their future. Whether it’s managing their investment portfolio, figuring out how to control their debt, navigating the complicated tax code or maximizing retirement income, people want an expert they can trust. It’s a role that requires not only technical knowledge, but also strong people skills, like communication, relationship management, listening and being empathetic.
The Financial Planning and Wealth Management minor will provide you with a solid understanding of the cutting-edge concepts and techniques you need to become that trusted advisor. You’ll gain the skills necessary to help meet the evolving needs of an increasingly diverse client base, from individuals to institutional clients like pension funds, foundations and businesses. As a registered CERTIFIED FINANCIAL PLANNER™ (CFP) Program, you’ll be able take the CFP exam upon graduation, earning you the most widely recognized designation for financial advisors.
The minor is administered by the Department of Finance and available as an elective to students who are enrolled in bachelor’s degree programs at Michigan State University.
Admission
The online application must be completed by the deadline of April 15. Admissions decisions are made in late spring each year. Admission is highly competitive and therefore not guaranteed. By applying to the minor, you are agreeing to allow the selection committee to review your grades.
For students participating in S/NS grading, please note that The Broad College will use original numeric grades from Fall 2020 and Spring 2021 in admission decisions for the Financial Planning and Wealth Management Minor.
To be admitted to the minor, students must complete one course from item (a) and one course from item (b). A grade of 3.0 or higher in each course is required for admission.
a. One (1) of the following courses (3 credits)
- STT 200 Statistical Methods
3 credits
Data analysis, probability models, random variables, estimation, tests of hypotheses, confidence intervals, and simple linear regression.
View full course description at the Office of the Registrar.
- STT 201 Statistical Methods
4 credits
Probability and statistics with computer applications. Data analysis, probability models, random variables, tests of hypotheses, confidence intervals, simple linear regression. Weekly lab using statistical software.
View full course description at the Office of the Registrar.
- STT 231 Statistics for Scientists
3 credits
Calculus-based course in probability and statistics. Probability models, and random variables. Estimation, confidence intervals, tests of hypotheses, and simple linear regression with applications in sciences.
View full course description at the Office of the Registrar.
- STT 315 Introduction to Probability and Statistics for Business
3 credits
A first course in probability and statistics primarily for business majors. Data analysis, probability models, random variables, confidence intervals, and tests of hypotheses with business applications.
View full course description at the Office of the Registrar.
- STT 351 Probability and Statistics for Engineering
3 credits
Probability models and random variables. Estimation, confidence intervals, tests of hypotheses, simple linear regression. Applications to engineering.
View full course description at the Office of the Registrar.
- STT 421 Statistics I
3 credits
Basic probability, random variables, and common distributions. Estimation and tests for one-, two-, and paired sample problems. Introduction to simple linear regression and correlation, one-way ANOVA.
View full course description at the Office of the Registrar.
- STT 441 Probability and Statistics I: Probability
3 credits
Probability, conditional probability and independence. Random variables. Discrete, continuous, univariate, and multivariate distributions. Expectation and its properties, moment generating functions. Law of large numbers, central limit theorem.
View full course description at the Office of the Registrar.
b. One (1) of the following courses (3 credits)
- FI 311 Financial Management
3 credits
Overview of financial management for business majors. Analysis of financial statements, markets, and assets. Risk and valuation, corporate budgeting and investment decisions. International and ethical implications. Current events applications.
View full course description at the Office of the Registrar.
- FI 320 Introduction to Finance
3 credits
Overview of finance for the non-business major. Stocks, bonds, mutual funds, financial statement analysis, capital budgeting, financial planning.
View full course description at the Office of the Registrar.
Apply Now
If you have satisfied the course prerequisites for admission, you are invited to apply for the minor.
Minor in Financial Planning and Wealth Management Requirements
Students must complete 15 credits from the list of required courses:
- FI 312 Introduction to Investments*
3 credits
Theoretical and empirical analyses of securities. Risk and return formation. Security analysis and concepts of market efficiency. Common stocks, bonds, options, futures, and mutual funds.
View full course description at the Office of the Registrar.
*Non-Broad majors should take FI 321 Theory of Investments
3 credits
Theoretical analysis of common stocks, bonds, options and futures. Tradeoff between risk and return, market efficiency, efficient portfolios and CAPM. Cash flow evaluation and option evaluation.
View full course description at the Office of the Registrar.
- FI 370 Introduction to Financial Planning and Wealth Management
3 credits
Techniques used to develop and implement comprehensive plans to achieve a person’s overall financial objectives. Budgeting, liability management, investing, tax planning, risk management, employee benefits, retirement planning, and estate planning.
View full course description at the Office of the Registrar.
- FI 380 Principles of Risk Management and Insurance
3 credits
Overview of techniques for measuring and managing risk. Pure risks related to mortality, health-related expenses, property damage and product liability. Management techniques studied include risk assumption, prevention, diversification and transfer via insurance and non-insurance market mechanisms.
View full course description at the Office of the Registrar.
- FI 460 Estate and Income Tax Planning
3 credits
Estate planning and income tax planning issues for the financial planner and wealth management advisor.
View full course description at the Office of the Registrar.
- FI 470 Advanced Financial Planning and Wealth Management
3 credits
Advanced estate, tax and retirement planning. Client management, planning tools and software applications. Creation of a comprehensive financial plan.
View full course description at the Office of the Registrar.
Student Organization
The Wealth Management Association (WMA) at Michigan State University is committed to educating undergraduate students about different careers in Financial Planning and Wealth Management, as well as placing them in internship and full-time opportunities within the Wealth Management industry.
