FFP210 - Personal Wealth Management

Outline info
Last revision date 2018-07-20 13:30:24.035
Last review date 2018-07-20 13:30:41.048

Subject Title
Personal Wealth Management

Subject Description
This general interest subject is designed for students who wish to obtain a better understanding of financial affairs to best suit their objectives. This subject will cover three main areas of interest: Retirement and Estate Planning, Personal Tax Planning and Investments. 

Credit Status
This is a general interest subject.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

  • Prepare a Personal Financial Plan
  • Make decisions to enhance one’s personal and family financial needs
  • See the success of realizing personal goals while considering the role of the economy.
  • Explain the importance of the necessary review of a Financial Plan
  • Work toward a comprehensive personal and family desired retirement lifestyle
  • Understand what the various government programs are and their effect on one’s retirement plans
  • Know the advantage of preparing for retirement and the disadvantages of not having a complete retirement plan
  • Understand the tax implications of a Registered Retirement Plan
  • Become familiar with the terminology of used in tax planning
  • See the advantages of proper investment planning for retirement

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on http://library.senecacollege.ca for further information regarding cheating and plagiarism policies and procedures.

All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.


Topic Outline

  • Preparing a Personal Spending Plan
  • Preparing a Personal Financial Plan
  • Tax Free Saving Account
  • Owning vs. Renting 
  • Mortgages & Loans
  • Interest:  Prime Rate vs Fixed Rates and the joy of compounding
  • Government Pension
  • Registered Retirement Savings Plan
  • Recommendation of a suitable retirement plan
  • Company Pensions with Personal Registered Retirement Savings
  • Canadian Personal Tax
  • Non Refundable tax credit
  • Taxable and Non-taxable income
  • Charitable contributions
  • Income splitting
  • Taxation – Self employment
  • Taxation for sole proprietorship or partnership
  • Tax deductibles for small business
  • The basics of Investments
  • The tax treatment of capital gains/losses

Mode of Instruction
A combination of teaching methods such as lectures, small group work and case studies will be used.

Prescribed Texts
Prospectuses, financial newspapers and websites.
Additional materials will be handed out in class.

Reference Material

Required Supplies

Promotion Policy

Grading Policy
A+ 90%  to  100%
A 80%  to  89%
B+ 75%  to  79%
B 70%  to  74%
C+ 65%  to  69%
C 60%  to  64%
D+ 55%  to  59%
D 50%  to  54%
F 0%    to  49% (Not a Pass)
EXC Excellent
SAT Satisfactory
UNSAT Unsatisfactory

For further information, see a copy of the Academic Policy, available online (http://www.senecacollege.ca/academic-policy) or at Seneca's Registrar's Offices.

Program Coordinator
Cynthia Duncan

Approved by: Academic Program Manager Emiliano Introcaso, Chair - Business Studies Danielle Mercier