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Wealth Management #367926

Course Overview

Credit

Amount

CPA

CFP^®

CDFA^®

CIMA^®/CPWA^®/RMA^®

Course Author: Steven M. Bragg, CPA Field of Study (CPA): Specialized Knowledge Field of Study (CFP): Financial Planning Field of Study (CDFA): Financial Planning Field of Study (IWI/CIMA): Wealth Management

Course Description

Course publication/revision date: This course was updated on 7/16/26.

The best way to accumulate a significant amount of wealth is by creating and following through on a financial plan. In the Wealth Management course, we show how to create such a plan, while also discussing how to preserve your existing wealth, and enroll the services of a financial advisor. The course also covers the essential elements of all key types of investments, including stocks, bonds, real estate, and alternative investments. In addition, the course covers a variety of related topics, including charitable contributions, insurance, and individual retirement accounts. In total, the course is designed to give you a firm grounding in wealth management principles.

Table of Contents

Chapter 1 - Baseline Information for Financial Planning1

Introduction	1
Life Planning	1
Translating Life Planning into Financial Policies	2
Identify Funding Tranches	3
Identify Timing of Goals	3
Identify Lifestyle Costs	3
Discuss Retirement	3
Consider Your Withdrawal Plans	4
Identify Your Risk Profile	4
Identify Your Investment Management Style	6
Summary	7
Review Questions	8

Chapter 2 - The Financial Plan9

Introduction	9
Your Current Financial Position	9
Liquidity Analysis	9
Investments in Private Businesses	10
Your Planning Assumptions	10
The Cash Flow Projection	11
Plan Adjustments	11
Your Investment Strategy	12
Portfolio Rebalancing	12
Tax-Loss Harvesting	12
The Use of Leverage	12
Dollar-Cost Averaging	13
Sector Rotation	13
Summary	14
Review Questions	15

Chapter 3 - Financial Advisors16

Introduction	16
The Need for Steady Advice	16
The Certified Financial Planner	17
The Ideal Advisor	17
Advisory Fees	18
Advisor Evaluation Questions	18
Disadvantages of Using a Financial Advisor	19
Summary	19
Review Questions	20

Chapter 4 - Wealth Preservation21

Introduction	21
Investment Principles	21
Speculation and Investing	22
Investment Risk	22
Fixed Income Risk	23
Equity Risk	24
The Basic Investment Types	24
Ownership Investments	24
Stock Market Investments	24
Real Estate Investments	24
Business Ownership Investments	25
Lending Arrangements	25
Savings Instruments	25
Debt Reduction	26
Risk and Investing	26
Mitigating the Risk of a Decline in Market Value	26
Mitigating the Risk of a Decline in a Specific Investment	27
Mitigating the Risk of Inflation	27
FDIC Coverage	27
Summary	28
Review Questions	29

Chapter 5 - Investing in Stocks30

Introduction	30
How Businesses Raise Money	30
How Businesses Add Value	30
Characteristics of Stocks	31
The Stock Market	32
Market Moving Events	32
Bull Markets and Bear Markets	33
Investing Strategies	33
Mutual Funds	35
A Word on Speculative Bubbles	36
Penny Stock Concerns	36
A Word on Money Manager Performance	36
How to Judge Your Investing Performance	37
Summary	37
Review Questions	38

Chapter 6 - Investing in Lending Arrangements39

Introduction	39
Characteristics of Lending Arrangements	39
Lending Choices	39
Banks	39
Money Market Funds	40
Bonds	41
Types of Bonds	41
Bond Features	42
Bond Investment Considerations	42
The Yield Curve	43
U.S. Government Debt Instruments	44
State and Local Government Debt	45
Corporate Bonds	45
How to Buy Bonds	45
Summary	46
Review Questions	48

Chapter 7 - Investing in Funds49

Introduction	49
Mutual Funds vs. Exchange-Traded Funds	49
Fund Investment Best Practices	51
Reduce Fund Costs	51
Look for Consistent Returns	52
Avoid Taxes	52
Allocate Assets	52
Avoid Leveraged Funds	52
Invest in Experience	53
Stock Fund Fundamentals	53
Bond Fund Fundamentals	54
Bond Fund Selection Process	54
Hybrid Funds	55
Summary	55
Review Questions	56

Chapter 8 - Investing in Property57

Introduction	57
Advantages of Investing in Real Estate	57
Disadvantages of Investing in Real Estate	58
Types of Real Estate Investments	60
Purchase a Residence	60
Convert a Residence to a Rental	60
Upgrade and Sell Your Home	60
Buy a Second Home	61
Buy a Timeshare	61
Buy a Residential Property	62
Flip a Residential Property	63
Buy Commercial Property	63
Buy Undeveloped Land	64
How to Acquire Real Estate	64
Foreclosures	64
Probate Sales	66
Short Sales	66
Installment Sales	67
Real Estate Investment Trusts	68
Real Estate Investment Best Practices	69
Summary	70
Review Questions	71

Chapter 9 - Investing in Alternative Investments72

Introduction	72
Call Options	72
Put Options	72
Currencies	72
Hedge Funds	73
Venture Capital	74
Precious Metals	74
Works of Art	74
Collectibles	75
Raw Land	75
Timberland Investments	76
Summary	76
Review Questions	77

Chapter 10 - Individual Retirement Accounts78

Introduction	78
Overview of Individual Retirement Accounts	78
Individual Retirement Account (IRA)	78
Roth IRA	78
IRA and Roth IRA Comparison	79
Rollover IRA	80
Savings Incentive Match Plan for Employees (SIMPLE)	81
Simplified Employee Pension (SEP) IRA	81
Ability to Contribute to an IRA	82
Caps on IRA Contributions	82
Contribution Caps for Singles	82
Contribution Caps for Spouses	83
Excess Contributions	83
Deductibility of IRA Contributions	83
Allowable Distributions	84
Early Distribution Penalties	84
Taxability of IRA Interest	85
Required Minimum Distributions	85
Qualified Charitable Distributions	86
Summary	86
Review Questions	87

Chapter 11 - Socially Responsible Investing88

Introduction	88
ESG Investing	88
Thematic Investments	88
Summary	89
Review Questions	90

Chapter 12 - The Role of Insurance in Wealth Management91

Introduction	91
Property Insurance	91
Types of Property	91
Policy Inclusions	91
Policy Exclusions	92
Additional Coverages	92
Valuation Issues	92
Remedial Activities	93
Life Insurance	93
Varieties of Life Insurance	94
Annuities	95
Summary	95
Review Questions	96

Chapter 13 - Charitable Contributions97

Introduction	97
The Nature of a Charitable Contribution	97
Qualified Charitable Organizations	97
Types of Allowable Contributions	97
Contributions from Which You Benefit	97
Property Contributions	99
The Determination of Fair Market Value	101
Deduction Recapture	104
Contributions that are Not Deductible	104
Penalties	105
Substantiation Requirements	105
Substantiation of Cash Contributions	105
Substantiation of Noncash Contributions	106
Substantiation of Out-of-Pocket Expenses	106
Summary	107
Review Questions	108

Answers to Chapter Questions109

Glossary118

Index121

Course Details

Author: Steven M. Bragg, CPA

Steven Bragg, CPA, has been the chief financial officer or controller of four companies, as well as a consulting manager at Ernst & Young. He received a master’s degree in finance from Bentley College, an MBA from Babson College, and a Bachelor’s degree in Economics from the University of Maine. He has been a two-time president of the Colorado Mountain Club, and is an avid alpine skier, mountain biker, and certified master diver. Mr. Bragg resides in Centennial, Colorado. He has written more than 300 books and courses, including New Controller Guidebook, GAAP Guidebook, and Payroll Management.

Publication/Revision Date: 7/16/2026

Course Exam Questions (online): 40 (multiple-choice)

Program Delivery Method: Self-Study (NASBA QAS Self-Study)

Available Formats of Course Text: PDF or PDF plus printed copy sent in the mail

Course Level, Prerequisites, and Advance Preparation Requirements

License	Course Level	Prerequisites	Advance Preparation Requirements
CPA	Overview	None	None
CFP®	Overview	None	None
CDFA®	Overview	None	None
CIMA®/CPWA®/RMA®	Overview	None	None

This program is appropriate for professionals at all organizational levels.

Sponsor ID Numbers

National Registry of CPE Sponsors ID: 107615

CFP Board Sponsor ID: 1008 — Course ID: 319457

Registered with the Institute for Divorce Financial Analysts

IWI CE Sponsor ID: 222740 — Course ID: 24BCNHF004

State CPA Board Sponsor ID Numbers (where applicable)

Florida Division of Certified Public Accounting: 0004761

Hawaii Board of Public Accountancy: 14003

New York State Board for Public Accountancy: 002146

Ohio Accountancy Board: CPE .51 PSR

Pennsylvania State Board of Accountancy: PX178025

Texas State Board of Public Accountancy: 009349

Learning Objectives

As a result of studying the course material, you should be able to meet the objectives listed below:

Identify the steps in the wealth management process.
Specify the issues related to your lifestyle costs.
Describe the four percent rule.
Identify how the efficient market hypothesis works.
Specify the nature of a liquidity analysis.
Identify the situations calling for an adjustment to your financial plan.
Recall when tax-loss harvesting should be used.
Specify the characteristics of an ideal financial planner.
Describe the different types of ownership investments.
Describe a speculative investment.
Specify the nature of savings instruments.
Recall the functions of a stock exchange.
Recall how a mutual fund works.
Specify how you can avoid a speculative bubble.
Identify how a money market fund works.
Recall the names of the chief credit rating agencies.
Recall how the yields on a bond instrument are measured.
Specify the best practices for purchasing bonds.
Identify the best practices for making fund investments.
Recall the fees associated with mutual funds.
Specify the selection criteria for a bond fund.
Identify the advantages and disadvantages of investing in real estate.
Recall when it makes the most sense to buy and flip property to earn a return.
Specify how to profit from the purchase of undeveloped land.
Identify how call options and put options work.
Recall the strategies followed by hedge funds.
Specify the tax rules related to the different types of IRAs.
Identify the investment risks associated with thematic investments.
Recall the best uses for a life insurance payout.
Specify the different types of annuity payments.
Specify the tax rules related to charitable contributions.