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PROFESSOR, COLUMNIST PUBLISHES FINANCIAL PLANNING TEXTBOOK

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12/1/2009 —

As the writer of a daily personal finance advice column for Bankrate.com, Don Taylor is quite familiar with the ins and outs of the financial planning industry. Good thing too, because good advice during these difficult times is hard to find for many. But as assistant professor of business administration at Penn State Brandywine, Taylor's expertise lends itself quite nicely to future financial planners by way of his newly published third edition textbook.

Published by the American College Press, the textbook, Financial Planning: Process and Environment, edited by Taylor and Craig Lemoine, provides an overview of the financial planning process, including communication techniques, ethics, risk tolerance, time-value-of-money concepts, financial planning applications, regulatory issues and the legal and economic environment for financial planning.

"The primary audience for this textbook is students taking coursework in financial planning who will eventually sit for the Certified Financial Planner examination," he said. "The students will gain an understanding of the role and responsibilities of a financial planner, along with some analytical skills to aid in financial decision-making."

The textbook is different from a consumer-oriented text in personal finance because it’s used to educate financial planners who work directly with clients.

"The book covers the CFP Board of Standards, Inc.'s Topic List for General Principals of Financial Planning," Taylor said. "The list is dynamic, resulting from the CFP Board's biannual Job Analysis Study, so along with regulatory and industry changes, the book needs to educate students on the general principles of financial planning."

But the 11-chapter book wasn't exactly an easy edit. "The field is dynamic, so there’s always an issue with textbooks representing a snapshot of the rules and regulations at a point in time," he said in regards to keeping up with the always-changing financial landscape in America. "With this edition, the difficulty was in releasing the new edition before the government completed its planned reform of the financial services industry."

Past editions of this textbook, published in 2005 and 2007, were widely used by universities and colleges that teach financial planning.

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