| Dates | Location | Tuition |
|---|---|---|
| May 3, 2009 - May 8, 2009 | Philadelphia | $9,250 |
| Aug 16, 2009 - Aug 21, 2009 | Philadelphia | $9,250 |
The August 2008 class is at capacity and is only accepting applications for the waiting list.
Wealth comes to families in many forms. It may arrive predictably or suddenly. Preparedness is a major concern for all families with substantial assets.
Families recognize that when the concentration of knowledge and experience resides with a patriarch or office executive, it can prevent other family members from fully assuming responsibility for wealth management. Few resources have been available to help families meet the complex challenge of wealth management education.
In collaboration with the Institute for Private Investors, Wharton offers Private Wealth Management for Investors, a five-day residential program. This joint offering was developed to help the next generation of family investors gain the foundation of knowledge necessary to oversee substantial private wealth.
The program also allows participants to meet and work with others who, like themselves, are part of a family with substantial assets. The case study for the program will be directly related to private wealth management issues.
Tuition for Philadelphia programs includes lodging and meals. Prices are subject to change. Program Consultants are available to provide more information on course specifics and discuss how this program might meet your needs. Please contact them by telephone at +1 215.898.1776 or by e-mail.
Through class lectures and interactive casework, participants will increase their depth of knowledge in key areas of wealth management.
The use of a "living" case study compels participants to come to terms with a wide range of investment issues that directly impact all families with significant wealth. Participants will call upon their own experiences, as well as knowledge gained during the week, to solve the problems presented. Learning is enhanced by the continual exchange among participants who have a common bond — that of the responsibility of significant wealth.
Private Wealth Management Session Topics
- Family Governance and Wealth Transfer
- Modern Portfolio Theory
- Evaluation of Investment Managers
- Alternative Investments
- Tax Efficiency
The Private Wealth Management program will be for family investors only and held to a maximum of 30 participants. Class size is limited to allow for open and in-depth interaction. Candidates are selected on their ability to both benefit from, and contribute to, the program. Each candidate will be reviewed by a screening committee and notified of their acceptance or wait-list status within two weeks of their application.
Family members whose assets are in transition from illiquidity to liquidity, or families in which leadership is shifting from one generation to the next, will benefit from this program. Individuals seeking a more disciplined strategy for their investments or a more rigorous curriculum on wealth management issues are also welcome.
We encourage families to send multiple members to leverage the application and value of the program. Additional cohort benefits are available when four or more participants attend a program.
Participant Demographics:
As of January 2008, past participants include 412 graduates from 29 countries. Participants' ages vary, ranging from 20s to 80s.
Gain a thorough understanding of Modern Portfolio Theory and its applicability to your family's asset allocation decisions. Understand performance measurement and attribution.
After this program, you will:
- Be able to partner with your money managers in directing the future of your wealth.
- Gain insight and suggestions regarding the best practices in family governance and wealth transfer.
- Develop a network of peers who face the same issues as you in managing substantial assets.
RICHARD C. MARSTON, PhD
Professor of Economics
Director, Weiss Center for International Financial Research
The Wharton School
Dr. Marston regularly participates in the Investment Management Consultants Association (IMCA) Program and the Advanced Management Program. He is also director of the Institute for Private Investors Program at Wharton.
Dr. Marston has given presentations in more than a dozen countries in Europe, Latin America, and Asia. He has also given presentations for a number of securities firms in the United States, including most recently Merrill Lynch, Lincoln Financial, and Smith Barney. His work has been widely cited in the press, including publications such as Barron's, the Financial Times, Newsweek, and The Wall Street Journal, and he has also appeared on television programs such as the Nightly Business Report and on CNBC.
CHARLOTTE B. BEYER
Institute for Private Investors
JEFFREY JAFFE, PhD
The Wharton School
A. CRAIG MACKINLAY, PhD
The Wharton School
Professor MacKinlay has coauthored two books, one entitled the Econometrics of Financial Markets and another entitled A Non-Random Walk Down Wall Street. He has also published in numerous journals, including the Review of Financial Studies and the Journal of Financial Economics. His honors include the Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security, and the Oxford University Press Century Publication Celebration 100 Best Papers of All Time Award.
ANDREW METRICK, PhD
The Wharton School
A faculty research Fellow for the National Bureau of Economic Research, Andrew Metrick specializes in corporate governance and venture capital. Co-author of a study for the The Quarterly Journal of Economics, Andrew found a striking relationship between corporate governance and equity prices, discovering that firms with weaker shareholder rights were less profitable, had lower sales growth and higher capital expenditures, and made more acquisitions than other firms in their industry.
Other current projects include performance and risk measurement for private equity and analysis of venture capital outcomes. Andrew’s work has been cited by the New York Times, the Wall Street Journal, Forbes, BusinessWeek, and CNN. He has also consulted to several investment advisory and management firms and has served as an expert witness in financial-market litigation.
Andrew holds a BA from Yale University and a PhD from Harvard University.
PAUL A. TIFFANY, PhD
The Wharton School
The Wharton program was out of this world. I loved everything about it — the quality of the instructors, the fact that it really fills a void, the interaction with the other participants, and spending a week with my family. Frankly, I found it so beneficial that I want to do it again.
—An August 2006 graduate of the Private Wealth Management program
"[Wharton] was basic enough for the nonfinancial family members and an excellent refresher course for those with extensive financial backgrounds. It also touches on nonfinancial issues faced by families of wealth that are often overlooked in courses of this type, which can help the nonfinancial and the financially trained members of a family understand each other better."
—Recent graduate
"Thanks so much for an incredible learning experience last week. It was a real privilege to be taught such important skills by such high-caliber professionals."
—A 2006 graduate
"The best investor education I know is to attend the Wharton program. We have sent all of our children AND their spouses. It has been a homerun for our family. Even my art-loving daughter-in-law now wants to know how the managers are doing and what changes are being made in the asset allocation."
—A 2004 graduate