Course overview
Wealth management is a fast paced environment. You cannot afford to miss out on understanding the current changes and how they impact this highly profitable sector.
This course gives you a comprehensive overview of how to build a successful wealth management strategy and raise the performance of your institution. It examines the main stakeholder in this environment: the client and their expectations, then moves on to discuss asset allocation as a powerful generator of client loyalty.
You will learn not only how to identify asset management products and services but how to meet specific client demands as well as formulate innovative estate planning services to benefit both the client and the bank. Throughout the course the focus is on understanding the needs of private wealth clients and identifying profitable marketing opportunities.
Summary of course content
- Design a successful private banking strategy to maximise profitability and efficiently compete in today’s market
- Implement innovative marketing techniques to win new business and defend an existing client base
- Use creative asset management products and services to meet specific client demands
- Formulate innovative estate planning services to benefit both the client and the bank
- Implement the optimal business plan to establish a private banking branch in a new region
Methodology
This highly interactive training combines presentations, lively discussions, case studies and group work, which will allow delegates to put to practice what has been learnt throughout the course.
- Application of key concepts through practical hands-on workshops
- Various and recent real-life case studies
- Group work and team presentations
Who should attend this training course?
- Private bankers
- Wealth managers
- Relationship managers
- Investment managers
- Trust managers
- Department heads
Supporting publication
DAY 1
Introduction and welcome
The private banking world
- The wealth management world today
– Where are we?
– The state of the industry in the world
– The state of the industry in Asia
– Latest developments
Discussion: How to get there?
- Business model
– Costs and revenues
– Cross selling
– Client relationship
– The formula
- Who are the private banking clients?
– Individual clients
– Family clients
– KYC, and legal and regulatory requirements
– Additional needs
Discussion: Family office services in Asia
- Private client needs analysis
– Daily needs
– CLEWI
– Business
– Future needs
– Retirement planning
– Life-long investing
Case study: A prospective client analysis
- Risk and return
– The risk
– An uncertain outcome
– Risk aversion
– The return
– Expected return
– Relative vs. absolute return
Case study: Clients risk aversion analysis
DAY 2
Asset allocation for private clients
- The process of asset allocation
– What is asset allocation?
– Why is it needed?
– What to put in a portfolio pricing?
– Decisions and basis point assumptions
– Review of the various investment vehicles
- The diversification effect
– Portfolio risk and return
– Specific vs. systemic risk
– The efficient frontier
– Rewarding the risk: sharpe ratio
- The investment world
– Top-down approach
– Cycles
– Emerging markets
– Foreign exchanges
- The investment process
– Specifying objectives
– Specifying constraints
– Formulating a policy
– Monitoring and updating the portfolio
- Rebalancing
– Active vs. passive portfolio management
– Benchmarking issues
– Market timing
– Sectors rotating
– Asset allocation vs. security selection
- Formulating the offer
– Meeting the client needs
– Dealing with investment restrictions
– Abiding to local regulations
– Pricing issues
DAY 3
Estate planning needs and tools
- What is estate planning?
– Wealth analysis
– Geographical and legal constraints
– Wealth transmission
– Tax optimisation
– Retirement planning
– Constraints management
- Trusts
– What are they?
– Jurisdictions
– Legal issues
– Documents
- Family foundations
– What are they?
– Jurisdictions
– Legal issues
– Documents
- Other tools and their weaknesses
– The will
– Offshore companies
– Local instruments for local purposes
- Non-financial assets
– Real estate
– Boats
– Art collections
– Other
- The offering
– What is the best mix?
– The domicile of the client
– Tax issues
– Ethical considerations
– The pricing
- Cultural differences
– Regional differences
– The religion element
– Ethical considerations
– Do’s and don’ts
Video examples
DAY 4
Private wealth management products
- The full offer
– Onshore vs. offshore
– Additional services to be delivered
– In-house or sub-contracted
– Regulatory aspects
- Alternative investments
– Commodities
– Real estate
– Private equity
– Hedge funds
Case study
- Structured products
– Current situation
– Capital guaranteed products
– Yield enhancement products
– Participation products
Case study
- Prospecting
– The importance of the network
– First contact
– The hook
– Gatekeepers
- Managing and retaining the client
– Managing the client’s expectations
– Setting up the frame
– Dealing with the shortfalls
– How to deliver bad news
Role play
DAY 5
Business development: offering private wealth management products in a new area
- Managing the private wealth management team
– Objectives
– Incentives
– The first 18 months
– The shortfalls and the successes
A case study will follow throughout the entire day
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Opportunity analysis
– Market expectations
– Strategic implications for the bank
– Legal and regulatory constraints
– Competition
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Right structure for the offshore approach
– Existing resources or hiring
– Skills-gap analysis
– Evaluating the candidates
– Evaluating the business development potential
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Local office option
– The structure
– Legal and regulatory constraints
– Marginal costs and revenues
– Taxes
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Business plan
– What should be in?
– What are the limits of business planning?
– Human bias
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The decision
– SWOT
– PEST
– Image management
– Other factors
Group discussion: How can you implement what you have learned during the course upon returning to the office?
Summary and close
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This instructor is an independent private banker, consultant, business coach, speaker and trainer in over 20 countries, covering a wide number of topics. He also regularly lectures at Trinity College Dublin.
He is a CFA Institute Approved Speaker and member of the Board of Regents of the Financial Analyst Seminar. His extensive knowledge of the banking world; in particular of the private wealth management industry; stems from over 20 years working within the banking business alongside an array of senior bankers from all around the world that he has advised, trained and coached.
He holds an MBA from the Heriot- Watt University in Edinburgh and is a Certified Financial Analyst and Portfolio Manager (AZEK/CFPI) and a NLP practitioner as well as being a PADI Certified Divemaster!
Interested in holding this course in-house? Please fill out your details and a member of our team will be in touch with more information.