Wealth Management Strategies
In-house
This practical 3 day course run by a former private banker will give you a sound understanding of the wealth management sector and covers all aspects of cutting edge strategies for private banking.
You will have a chance to learn about the latest market trends, how to differentiate your offering from competition, acquire and maintain clients, assess their needs and deliver tailor made services. You will also learn about trusts and estate planning, wealth structuring and tax management. Finally portfolio construction and asset allocation will be discussed in detail.
This unique programme will equip you with the knowledge and skills needed for success in the wealth management world.
Main Topics Covered:
- Wealth management market and the latest trends
- Client's profiling and segmentation
- Assessing buyers' behaviour and risk appetite
- Relationship management and client retention strategies
- Identifying, exploring and understanding client needs
- Behavioural finance and investor psychology
- Trust and estate planning for private clients
- Tax planning and Wealth Structuring
- Risk management, regulation, legal and compliance issues
- Wealth Management in 2020 – successful strategies
- Asset allocation and portfolio construction
- The “traditional” and alternative assets products
- The role of structured products in portfolio design
By the end of this course you will be able to:
- Understand clients' needs and investment requirements
- Improve your clients relationship skills, acquire new customers and maintain existing clients
- Decide on product offering and create portfolio which will suit best your customer
- Have a sound understanding of trusts and estate planning strategies
- Understand the fundamentals of financial planning for private clients
- Build investment portfolio implementing traditional and alternative asset classes
- Explore the latest market trends and strategies for success in the wealth management
This is a very popular programme and we advise to register earlier to avoid disappointment as the number of places is limited.
Who Should Attend
Managers and Team Members from Private Banks, Wealth Management Companies, Family Offices, Asset Management and Consultancies from the following departments:
- Private Banking
- Wealth Management
- Client Relationship
- Portfolio and Asset Management
- Prime Services
- Family Offices
- Business Development
- Consultants
- Financial Planners
- Trusts and Estate Planning
Teaching Method
The course is taught with hands-on, practical exercises forming the framework for the case study model. All the theory will be explained though recent financial examples and put into current market context to help you apply it in your daily business.
You will also benefit from a comprehensive course material. On completion you will receive course certificate.
In order to help us establish your individual and business concerns, you will be asked to fill a pre-course questionnaire.
The number of seats is strictly limited and we advise to reserve your please earlier in order to aviod disappointment.
Wealth Management Strategies - A 3 Day Programme
Day 1
Trends in the Global Wealth Management Market Place
- What is Private Banking and Wealth Management?
- The nature, origins and characteristics of the industry
- Market size, players and dynamics
- The “drivers” of wealth
- Growth potential and opportunities
- The changing wealth management paradigm
- Business models and differentiation strategies
- The “decision matrix”
- Challenges for the “offshore” industry
- The mobility of wealth
- Wealth management after the “perfect storm”- the impact of the downturn
- (Re)Defining the value proposition – the changing value chain
- The importance of “brand” and the “client promise”
- Key performance indicators
- Overdependence on equity markets
Exercise: Your “proposition
Client Profiling and Segmentation
- The importance and rationale for segmentation
- Different approaches client profiling
- Buying behaviour
- Personality type
- Risk appetite
- Understanding changing client needs and expectations
- An overview of different profiling techniques
- Differentiation strategies based upon the client profile
- Strategies for different “segments” of the wealth management market
Case study: Strategies for wealth preservers, builders, maximisers & conservative managers
Relationship Management skills for Wealth Managers
- The changing role of the Relationship Manager
- Call planning and preparation
- The “personal statement” or “elevator pitch”
- The importance of CRM and “Pipeline management”
- Client acquisition strategies
- Prospecting for new private clients
- Contacting high net worth private clients
- Networking
- The “loyalty effect” and the economics of client and RM loyalty
Client retention strategies
- Delivering the “client experience”
- “Moment mapping” and the importance of the “white space”
- Workflow management
- Evolution of the client / advisor relationship
- The Trusted Advisor
- Managing client relationships through the downturn in the economy
- Building client advocacy
Identifying, exploring and understanding client needs
- A structured approach
- The “Advice” Process
- Diagnostic framework
- The purpose & value of needs reinforcement questions
- Handling objections and dealing with client scepticism
- Gaining client commitment to action
- Recognising the difference between a “continuation” and an “advance”
- The portfolio approach to client management
- Understanding features, advantages and benefits
- Translate your products in to benefits for clients
- The “value equation”
- How to describe your solutions to clients
Role plays: Presenting solutions
Day 2
Behavioural Finance and Investor Psychology
- Key concepts and principles
- Identifying patterns of irrational behaviour
- Important lessons for Wealth Managers
- To “moderate” or to “adapt”
- Dealing with “loss aversion” and “regret” during downturns in the economy
Exercise: The “trivia” test
Trust and Estate Planning for Private clients
- The types of Trust and their uses
- A comparison of the planning vehicles (Trusts, Companies, SICAV’s and Foundations)
- Intergenerational wealth transfer
- Applications for wealthy families
- Life insurance based solutions
- The Family Office concept
Case Study: Who’s money is it anyway – the sham trust?
Tax planning and Wealth Structuring
- Principles of International Taxation
- Residence and domicile
- The situs of the assets, the manager and the client
- The “source” doctrine
- The key taxes impacting wealthy families
- Tax mitigation strategies
- Tax efficient products
- Financial planning concepts
- Lifetime planning
- Retirement and pension planning
- Protection, savings and investment
Case study: Designing a Financial Plan for a high net worth private client
Risk Management, Regulation, Legal and Compliance issues
- Types of risk
- Perspectives of risk: Client view and Wealth Manager view
- Regulators view
- Emerging risks
- Designing a risk management framework
- Vulnerability to “money laundering”
Case study: What’s on your risk “dashboard”?
Wealth Management in 2020 – successful strategies
- Extrapolation of trends
- Products and services
- New “drivers”
- Changing client, needs, attitudes
- External factors:
- Globalisation
- Regulation
- Technology
- Demographic
- Environmental
- Social
Discussion: the shape of wealth management in 2020 – the winners & the losers
Day 3
Asset Allocation and Portfolio Construction
- Key concepts from Modern Portfolio Theory
- Strategic, tactical and integrated asset allocation
- Investment styles
- The universe of investment strategy
- The traditional asset classes (Equities, Bonds and Cash)
- Adding alternative assets
- Rebalancing and reallocation
Case study: Explaining Asset Allocation concepts to Private Clients
The “traditional” product offering
- Cash and money market
- Bonds and Fixed income
- Equities
Hedge Funds
- Key features and characteristics
- An overview of the investment styles
- Risks associated with hedge funds
- The case for Hedge Funds in the private client portfolio
- Due diligence considerations
Private Equity and Venture Capital
- Introduction and background
- The case for Private Equity in the private client portfolio
- Determining the allocation to Private Equity and constructing the portfolio
- Performance monitoring considerations
- Due diligence considerations
Structured Products
- The evolution of structured products for private clients
- The demand for absolute return and capital protection
- The use of derivatives for risk reduction and return enhancement
- The building blocks of financial engineering
Case study: The role of structured products in portfolio design
Our Course Director began his private banking career with Royal Bank of Canada where he spent 15 years in a wide variety of senior roles covering almost all aspects of the private banking business both onshore (London) and offshore (Bermuda). During this time he led successful asset management, trust and banking operations, focusing on the needs of international high net worth and ultra high net worth private clients.
He was also a member of the Global Private Banking Management team and managed many aspects of the integration of a substantial international private banking acquisition.
He has also worked with Swiss private banks where he was responsible for developing the international private client market in the UK. Throughout this period, he also maintained a portfolio of high net worth international private client relationships.
Our Trainer has broad general wealth management experience but his particular area of expertise is in developing financial planning solutions for international high net worth private clients and their businesses that have complex cross border planning issues. In this capacity he has marketed private banking solutions to other centres of influence including private client and tax lawyers, accountants, independent financial advisers and brokers.
IN-HOUSE TRAINING
If you have a team of 4 or more this course can be customised and organised in-house at your convenience. Contact one of our advisors to find out more
Call us now on +44 (0) 207 993 8597
