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Financial Planning B.B.A.
With a rapidly aging population, and an uncertain economy, people from all walks of life need help planning for their financial security. In this major, students learn how to utilize various financial products to help individuals and families make financial decisions. Financial advising careers are expected to be one of the faster-growing occupations over the next decade.
UMD’s Financial Planning major is registered with the Certified Financial Planner Board of Standards, Inc. (CFP Board) and fulfills the educational requirements to take the CFP (Certified Financial Planner) exam.
Students can build a private practice or work with financial institutions, registered investment advisers, insurance companies, broker/dealers, or even non-profit entities.
The program provides students with a foundation for immediate integration into the practices of the financial planning industry.
Utilize new technologies to study and analyze investments, risks, retirement, insurance, and estate planning.
Learn the fundamentals of financial planning, tax planning, and retirement planning.
Apply the knowledge of insurance policies and risk management strategies in developing financial plans for clients.
As population ages and people’s life expectancy increases, the demand for personal financial advisors is expected to grow 14% from 2016 to 2026 (Bureau of labor Statistics). Financial planning prepares students for careers in retirement planning, personnel benefits, estate planning, and wealth management.
Graduates can start their own practice or can work as Registered Investment Advisors, Retirement Planners, Retirement Plans Specialists, Estate Planners, Personal Financial Advisors, Small Business Specialists, or Insurance Specialist/Agents.
Admissions and Scholarships
Students with a major in LSBE are eligible to apply for more than 120 scholarships, with the total scholarship amount in excess of $200,000 annually.
The Financial Planning Club helps its members gain a deeper understanding of the financial planning profession by inviting speakers (industry professionals and UMD graduates) to campus and by coordinating off-campus events. The club holds multiple member socials throughout the semester and participates annually in the symposium organized by the Financial Planning Association of Minnesota.
The Financial Planning program in LSBE is managed by Professor Hugo Hietapelto. As the director of the program, he teaches financial planning courses and coordinates industry connections. He runs a multi-location financial planning practice, serves on several boards of local organizations, and has earned multiple professional designations.
Freshmen and transfer students are typically admitted as pre-business students for all BBA majors. Admission to candidacy status, which allows access to upper division LSBE classes, typically occurs at the junior level when students have successfully completed all pre-major (pre-candidacy) course requirements and met all of the GPA standards. Students apply for admission to the Financial Planning major. Admission is based on an interview and review of previous academic record.
Recent UMD Graduates Job Placement Data & Employers
Here's a sampling of positions Financial Planning B.B.A. grads have attained six months to one year after graduation.
- Financial Planning Associate - Ameriprise Financial, Minneapolis Wealth Advisors, Minneapolis, MN
- Financial Advisor - Edward Jones, Hutchinson, MN
- Tax Associate - RSM US, Duluth, MN
- Associate Financial Planner - TruNorth Wealth Partners, St. Paul, MN
For more data see the Financial Planning B.B.A. Graduate Follow-Up Report.
For ideas about Financial Planning B.B.A. and other majors visit Career & Internship Services.