Wealth Management School Monaco 2010
July 2010 Monaco
For our current 3 day Wealth Management Strategies programme in London and Dubai click here.
A 3 day intensive training run by a former private banker designed to prepare Wealth Managers, Private Bankers and Family Offices for the latest challenges. Learn about:
- The latest market trends for Wealth Management
- How to differentiate your services from the competition
- Enhancing client satisfaction and retention
- The most efficient investment strategies in current markets
- Portfolio construction in practice
- Investing in traditional and alternative asset classes
This practical course will give you an in-depth knowledge of wealth management strategies and covers all aspects of cutting edge strategies for modern private banking.
Description
During 2009 the wealth management community has, selectively, struggled to justify itself to clients – particularly with some mediocre investment performances. Other client concerns relate to high staff turnover and the impact of non-wealth management activity within parent banks onto the wealth management business itself.
Going forward, the reputation of the organization and quality of line management and financial advice will be crucial for the wealth managers to hold onto disgruntled clients. As ever though, in adversity lies an opportunity for those managers with a business model aligning their interests with those of their clients. Learn how to can get better prepared for the coming challenges.
Main Topics Covered During This Training
- Wealth management today - how big is the market?
- Client segmentation and inter-generation wealth transfer
- The importance of client relationship management and how to ensure client's satisfaction
- Wealth products and services - how to differentiate from the competition?
- Onshore vs. offshore banking
- The role of family office
- Art advisory and philanthropy
- Modern Portfolio Theory and portfolio construction in practice
- Active and passive investment strategies
- Investing in bonds and equities
- Alternative investments – Private equity, commodities, hedge funds and FX overlay
- Risk management and portfolio optimisation
- Using derivatives in the portfolio management
What Will You Learn By The End Of This Training
By the end of this training you will:
- Be up-to-date with the latest wealth management trends
- Learn how to differentiate your services from the competition and recognise your client needs
- Be able to choose the best investment strategies to meet your client requirements
- Assess risk and return for different investment instruments
- Explore the latest trends in hedge funds, private equity, commodities and other alternative instruments
Who Should Attend
- Wealth Managers
- Private Bankers
- Family Offices
- Portfolio Managers
- Client Relationship Managers
- Asset Managers
- Consultants
- Heads of Family Services
- Head of Business Development
- Financial Planners
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.
In order to help us establish your individual and business concerns, you will be asked to fill a pre-course questionnaire.
The number of places is strictly limited and we advise to book earlier in order to avoid disappointment.
Wealth Management School Monaco 2010 – A Three Day Programme
DAY 1
WEALTH MANAGEMENT IN PRACTICE
Introduction and Overview of the Market Place
- Wealth Management in context
- How big is the market? Who are the major players? Does size help?
- Where is the revenue growth to come from? What are the implications of this?
- Onshore vs offshore – where are the most popular locations? The pressure is on
Case Study: How do Wealth Managers measure their success?
Who exactly is a Wealth Management Client?
- How does one define ‘High Net Worth’?
- Client segmentation; inter-generational wealth transfer
- How many providers might a client use?
- The importance of the client relationship manager – staff retention
- How to measure client satisfaction? Which Wealth Manager came top in 2009?
Case Study: How do clients choose a bank and why might they leave?
Wealth Management Products and Services
- How do you differentiate your bank from the competition?
- How have the banks invested their clients’ wealth? The APCIMS benchmarks
- Changing asset allocation strategies in the credit crunch
- Family Office – combining the roles of accountant, lawyer, banker
- Ideas for complementary services – Art advisory, philanthropy
Case Study: The ideal professional service provider
Modern Portfolio Theory and efficient markets as applied to today’s environment
- Efficient markets – Are they? Do we live in a ‘normal’ world?
- Are investors rational? Behavioural finance and its impact on current thinking
- The capital asset pricing model and efficient frontiers
- Betas and the search for Alpha
- What is the correct equity risk premium now? Can history be a guide
Case Study – Beta at work in practice
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DAY TWO – INVESTMENT STRATEGIES
Investing in Bonds – From sovereign to corporate
- Factors to consider when managing bond portfolios
- The search for income – From sovereign to corporate
- Maturity, duration; yield curve and spread trading
- From investment grade to high yield – Rising stars and fallen angels
Case Study: Credit spreads in practice across the Emerging Market bond universe
Investing in Equities – From active to passive portfolio management
- Thematic vs geographical selection criteria
- Growth vs value investing – how do the numbers work?
- Can active management add value? The growth of index tracking
- Exchange Traded Funds – Active passive?
Case study: Assessment criteria used by equity fund managers
Portfolio construction for private clients in practice
- How have Wealth Managers’ invested their clients’ wealth to date?
- Investments of ‘passion’
- Changing asset allocation strategies in today’s markets
- Diversification vs correlation
- Client profiles and model portfolios
Case Study – Putting together a Portfolio for a HNWI in practice
Using Derivatives in Portfolio Management
- Which products do Portfolio Managers mainly use & why?
- For hedging or speculation; Exchange tradable vs Over-the-Counter instruments
- Index futures – Hedging a portfolio, margin requirements
- Equity index swaps for equity fund managers
- Using options to protect portfolio positions
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DAY THREE: USING ALTERNATIVE INVESTMENTS IN THE PORTFOLIO
Risk measurement and management across the investable universe
- Volatility – Statistical probability and dispersion of returns
- Fat tails in finance & black swans explained
- Case Study: Volatility in practice across the Mutual Fund universe
- Sharpe ratios – Risk adjusted performance measurement
- Portfolio optimisation and rebalancing (Excel demonstration)
- Value at Risk
Alternative investments- Private equity, commodities, FX overlay
- Investor attitudes to private equity as an investment proposition
- The range of investable opportunities within private equity
- Foreign exchange as an asset class vs currency overlay strategies
- Commodities as an asset class – comparisons with traditional investments
Case Study: Investable commodities’ performances
Alternative investments – Hedge funds, an overview
- What are they exactly? How do they differ from conventional funds?
- How many are there? How big are they? What do they cost?
- Relationships with investment banks - Prime brokerage
- Counterparty relationships: Prime brokerage and fund administration
- Lessons from 2008 - Counterparty risk
- Manager tactics – Leverage & shorting explained
Case Study: How do Investors choose their hedge fund manager?
Rationale for using hedge funds in an investors’ portfolio
- The non-correlated asset class? So what happened during the crisis?
- Efficient frontiers revisited for the long term investor
- Due diligence process
- Survivorship bias, drawdown
- Transparency issues
- Benchmark risks for investors
Case Study: Exclusion criteria in the due diligence process
Paul Meadows
Paul started his career in 1983 at Royal Insurance in the long-term equity portfolio team. In 1990 he joined Swedish insurer Trygg-Hansa’s London start-up operation to manage its UK Equity exposure.
In 1994 he moved into the Private Client arena, as part of the Investment Unit of Lloyds Private Banking & over a two year period diversified away from an exclusive analytical/Fund Management role to incorporate an extensive presentational package on the Bank’s investment strategy delivered ‘on the road’ to its network of offices around the country.
In 1996 Paul joined Bank of Butterfield to head up the global Equity research effort in London in support of the Bank’s (offshore) private client base. By this time that he had also developed training material covering most aspects of Portfolio Management & the behaviour of institutional investors for delivery (as a freelance consultant) to a wide range of audiences in the UK & abroad. This was subsequently extended to incorporate the Private Client Asset Management area.
Paul had a spell with an international high-risk security company analysing the operations of quoted oil & mining corporates worldwide. In 2000 Paul moved into full time training with main course providers, specialising in Fund Management, Equity Markets, Private Banking & Hedge Funds.
Clients trained include Citigroup, Man Investments, Axa Investment Managers, Barclays Global Investors, HSBC, Renaissance Capital, ABN AMRO Private Bank, Hoare & Co.
July 2010 Monaco
Early Bird offer before 31 May - £2199
After that date £2399
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DISCOUNTS
BIG GROUP SAVINGS!
- 2 people - 5% discount, 3 people - 10% discount. Delegates have to be from the same company and register at the same time.
- If you book for 2 courses at the same time you will receive 10% of the full value of the cheaper course.
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) 207 193 5035
