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Rotman School of Management

Family Wealth Management

Rotman’s Family Wealth Management Program
May 21—24, 2020
4 days
Toronto, Ontario, Canada
CAD 6500 ≈USD 4953
CAD 1625 per day

How it works

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Description

Learn the key frameworks for successful wealth management, including how to avoid common mistakes. This program is designed for family members who would like to successfully preserve, grow and transition family wealth.

Overview

The effective management of family wealth is a critical skill set in ensuring the long-term financial success of wealthy families. This program will provide the practical insights and knowledge that families need to oversee the management of their wealth and help each family member to be an excellent leader and/or contributor to the wealth management process. Participants will learn the key building blocks and frameworks for successful wealth management, how to create an integrated wealth management strategy that considers the family's complete financial picture, and how to avoid common catastrophic mistakes.

The program is designed for family members who would like to learn more about the wealth management process and how to successfully preserve, grow, and transition family wealth.

Articles

Tom McCullough has written several white papers that may be of interest to participants in Rotman's Family Wealth Management Program:

Control What You Can, Conservatively Estimate the Rest

Creating an effective wealth plan involves managing a wide variety of elements, some of which are controllable (e.g. investment costs) while others are not (e.g. investment returns). This article identifies which elements are controllable and how to plan for the unpredictable elements.

The Critical Role of Expenses in Family Cash Flow Planning

Cash flow projections are an essential tool to plan for the amount of capital required to meet a family’s goals. While there are several inputs that impact cash flow projection results, expenses are by far the most important. To illustrate why, this article explores an example and also examines the impact different expense levels has on a family’s investment portfolio.

Tips for Managing Investment Risk

A family’s investment portfolio plays a critical role in helping them meet their financial goals. Unfortunately, many families take on unnecessary risk which could compromise their financial well-being. This article explores the reasons why investors take on excess risk, and steps to take to avoid these pitfalls.

What is a Family Office?

While family offices have really come into their own in the last 30 years, the concept remains unfamiliar to many. This white paper answers some of the key questions about family offices, including what are the differences between single-family and multi-family offices, what are the range of services provided, and what benefits does a family office provide.

What’s Next? Preparing for life after selling your business

Many entrepreneurs are great at running their businesses but are not prepared for the transition that occurs after that business is sold. Managing an operating business and managing the wealth that the sale of an operating business can generate are two different skillsets. This article covers how entrepreneurs can prepare to make the transition from being wealth creators to being wealth owners.

Key Benefits

This program will help participants develop the frameworks, tools and skills to better understand and participate in the family wealth management process.

Topics include:

  • Goals based wealth management
  • Investment planning and strategic development
  • Asset allocation
  • Portfolio management
  • Security selection
  • Types of family capital
  • Tax and estate planning
  • Insurance, wills and trusts
  • Integrated financial management
  • Family governance and communication
  • Risk identification and management
  • Selection of investment firms and advisors
  • Strategies for the preservation and inter generational transfer of wealth

Key Takeaways

  • Develop a comprehensive wealth management strategy that considers family goals, objectives, values and family circumstances
  • Identify the pitfalls and common mistakes to avoid
  • Select an investment strategy that is realistic, prudent, tax-efficient and actionable given the time and resources you have to commit
  • Learn how to integrate the family business or concentrated family asset into a wealth management strategy
  • Identify the key roles, responsibilities, and opportunities for family members in understanding, supervising, and managing the family assets
  • Better understand how to effectively manage the personal and social benefits and risks of family wealth

Who should attend

This course is for wealth owners only. Family office executives may attend with principal family members but no other financial services professionals may attend. The course is ideal for those:

  • striving to maintain prosperity and a flourishing family through retirement and, for many, across generations.
  • contemplating-or recently experiencing-a significant liquidity event, whether through the sale of a company, inheritance, or other major wealth transition.
  • committed to engaging their families in more productive dialogue about the challenges and opportunities of wealth.
  • seeking added confidence to evaluate and select financial advisors and/or to set strategic direction for a family office.

We have found that multiple members of the same family derive considerable benefit from taking the course together. The program gives them a foundation for continued productive dialogue well into the future.

Experts

Bio Eric Kirzner holds the John H. Watson Chair in Value Investing and teaches investment finance. Equitable Trust Director and Audit Committee Chair, Investment Industry Regulation Organization of Canada (IIROC) Director and Healthcare of Ontario Pension Plan’s lead external advisor, Eric desig...
Bio TOM MCCULLOUGH is an adjunct professor of finance at Rotman and teaches private wealth management. He is also Chairman and CEO of Northwood Family Office LP, a multi-family office which serves the comprehensive needs of families of significant net worth. He has spent over 30 years in the wea...
Bio Michael J Lagopoulos is the recently retired Deputy Chairman of RBC Wealth Management, where he is responsible for the coordination and servicing of leading Ultra High Net Wealth families and institutional clients around the world. He is also responsible for the Corporate Governance of the m...

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Next dates

May 21—24, 2020
4 days
Toronto, Ontario, Canada
CAD 6500 ≈USD 4953
CAD 1625 per day

How it works

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