General Information
Target Audience
This course focuses on the financial management issues faced by private wealth holders. It will be of interest to students who aim to work in the private wealth industry or who want to better understand wealth management for their own families.
Format
12 regular sessions and one extended group presentation class.
Course Mission
The goal of the course is to help students develop an understanding of the unique financial management problems and opportunities faced by individuals and families of wealth, and the practical, integrated approaches to dealing with them. We also want to help students see and be able to apply the integrated approach required in the management of private wealth.
Course Scope
The course covers the following major topics:
- Understanding and quantifying client objectives
- Cash flow projections and financial planning
- The management of personal and market risk
- Asset allocation decisions and investment management
- Tax, insurance, and estate planning
- Alternative investments, real estate, and private equity
- The impact of family dynamics and communication on the wealth management process
- Succession planning for family businesses and private wealth
Evaluation and Grade Breakdown
| Component | Due Date | Weight |
|---|---|---|
| Class Participation | Ongoing | 15% |
| Assignment | Week 3 | 10% |
| Test #1 | Week 6 | 25% |
| Test #2 | Week 9 | 25% |
| Group Report/Presentation | Week 12 | 25% |
Required Resources
Textbook: Wealth of Wisdom: The Top 50 Questions Wealthy Families Ask, Tom McCullough and Keith Whitaker.
Articles from various respected financial journals and media sources.