Postgraduate Certificate in Wealth Management

IFF Training

IFF Training

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About the course

This innovative distance learning course will teach you the core principles of wealth management, its evolution through history and the key building blocks needed to achieve a successful wealth management franchise.

You’ll use financial planning to get to grips with the regulatory framework, and the products, enabling you to help your clients achieve their financial goals. You will focus on different client segments, learning from other industries how to deliver an exceptional client experience. The programme encompasses consultative sales advisory, products, research, infrastructure and smart client segmentation.

WHAT YOU WILL LEARN

  • The core principles of wealth management and how they have developed for private clients
  • The history, lessons learned, the present and the future of wealth management
  • The six key drivers of building and growing a wealth management franchise
  • How to apply these drivers to different client segments
  • How to identify and apply international best practices
  • How the regulatory and tax regimes impact wealth management businesses, both onshore and offshore
  • How to apply financial planning to help clients achieve life goals
  • How to become the wealth management equivalent to Disney, Ritz and Amazon when it comes to client servicing

Course Content

Unit 1 THE PAST, PRESENT AND FUTURE OF WEALTH MANAGEMENT

Learning Outcomes

  • Explain the meaning and application of wealth management
  • Understand the evolution of wealth management
  • Contrast the growth of wealth management by regions, industry

History of Wealth Management

  • From Italian merchants to the Western world.
  • Rejuvenation despite lurching from bubbles to bubbles

Evolution of Wealth Management to a Multi-Trillion-Dollar Industry

  • 1980-2008: growth through volatility
  • US-led by wire houses
  • Europe led by Private banks
  • EM led by PB/wealth management firms

The Global Financial Crisis 2008-09

  • The seeds of crisis
  • The blindsiding of all
  • Lehman Brothers

Coronavirus - Moneymen Battling the Microbe

  • Role of regulators, politicians and banks
  • Impact on WM
  • Helping clients on health and wealth

Wealth Management - Weathering the Market Crises

  • Role of regulators
  • Deleveraging and de-risking
  • Banks as ‘utilities’

Wealth Management Industry Today

  • Convergence across geographies
  • Growth and challenges by major regions
  • Best practices by regions

Key Global/Regional Players in Wealth Management and Asset Management

  • Leading global/regional wealth management distributors
  • Leading product providers: traditional and alternatives
  • Platform providers

Unit 2 BUILDING THE DRIVERS OF A SUCCESSFUL WEALTH MANAGEMENT FRANCHISE

Learning Outcomes

  • Explain the concept of a holistic wealth management business
  • Explain the six drivers that generate a successful wealth management business
  • Demonstrate how these drivers collectively deliver a superior client experience

The Levers of Wealth Management to Create a Rising and Recurring Revenue Stream

  • The holistic proposition
    • the comprehensive wealth management pyramid
    • why more wealth correlates into more wealth management
    • why generational/life-cycle segmentation is key to wealth
  • management success
  • Quality products for life goals solutions
    • range of products: passive to active; simple to complex; core to
  • customised; beta to alpha; low cost to high cost
  • Clear, concise and customised market research
    • regular market updates on risks and opportunities
    • education on financial markets investments
  • Integrated infrastructur
    • cutting-edge Advisor platform to manage portfolio of clients
    • comprehensive and simple client FP tool
    • digital platform for client 24/7
  • Sales Management: Productivity and Capacity
  • Marketing: Brand marketing and Campaign management

Productivity

  • Improving productivity and effectiveness of advisors
  • Enhancing advisor and specialist teams
  • Skilled team leaders to drive advisor productivity

Capacity

  • Recruiting from market and from within
  • Upskilling through formal professional development programmes
  • Retaining using Employee Value Proposition for career growth

Brand Marketing

  • Campaign on why and how of wealth management offering for target clients
  • Show the unique offerings for target markets
  • Sponsor meaningful charities to broaden from shareholder only to stakeholder focus

Campaign Management

  • Targeted campaign for different client segments
  • Educational and market survey-led campaigns to help clients with life goals
  • Multi-generational focus for capturing wealth transfer assets
  • ESG-led campaigns to capture millennials loyalty and assets

Unit 3 THE HOLISTIC WEALTH MANAGEMENT OFFERING

Learning Outcomes

  • The importance of legal architecture: Estate planning and trusts
  • How to manage assets, liabilities and the use of funds
  • How to bucket discretionary, advisory, execution
  • How to price the relationship

Holistic Approach

  • The advantages of the holistic approach
  • How to develop the holistic approach via financial planning

Assets, Liabilities and Legal Architecture

  • Creating the asset bucket
    • Short, medium and long-term assets
    • low risk to high risk assets
    • deposits: local currencies, international currencies
    • FX: investment management (leveraged and unleveraged)
    • investments: traditional passive (ETFs) and active (mutual funds)
    • alternatives: private equity, hedge funds, real estate

Discretionary, Advisory and Execution

  • Discretionary offering for long-term risk adjusted growth
  • Advisory for directed long-term growth
  • Execution: stocks, mutual funds/ETFs primarily

Pricing

  • Transaction fee
  • Performance fee
  • Asset-based fee

Creating the Liability Bucket

  • Short-term borrowing: Lombard lending and unsecured
  • Long-term borrowing: home equity line, first mortgage
  • Creating the legal architecture: Financial planning and estate planning
  • Financial planning: The 4-step process
  • Risk profiling, establishing objectives, asset allocation, product solutions,
  • rebalancing and tactical allocation
  • Insurance: protecting wealth to benefit family
  • Trust structures, wills & beneficiaries

Unit 4 CLIENTS GROWTH AND ANTICIPATING/MEETING CLIENT NEEDS

Learning Outcomes

  • Explain how to segment clients by key variables
  • Provide analysis of what clients want/deserve
  • Understand how to deepen the client relationship
  • Demonstrate how to get new clients
  • Explain the why and how of asset gathering
  • Explain generational wealth transfer
  • Understand the importance of client feedback

Segmenting Clients

  • Emerging affluent, affluent, HNW, UHNW
  • Emerging affluent: key characteristics, critical needs,
  • Affluent: key characteristics, critical needs
  • HNW: key characteristics, critical needs
  • UHNW: key characteristics, critical needs

What Clients Want/Deserve

  • Caring, customised solutions, communication

Deepening Existing Client Relationship

  • Apply financial planning approach to identify life goals for family
  • Offer solutions and processes to achieve goals
  • Apply data analytics to identify product gaps
  • Prospecting for Target Clients
  • Seek introductions from existing clients
  • Marketing campaigns to gain new clients
  • Deploy hunter teams

First, Second, Third Generation Wealth Transfer

  • The scale, opportunity, challenges and actions

Financial Markets Rhythm

  • Helping clients understand market dynamics
  • Helping clients navigate the markets via strategic/tactical asset allocation

Client Surveys for Service Improvement

  • Client satisfaction
  • Net promoter score
  • Data analytics to enhance client service

Unit 5 REGULATORY AND TAX REGIMES

Learning Outcomes

  • Understand why regulators lead with regulation post crisis
  • Learn how global oversight has grown
  • Recognise how much money is held offshore and onshore and what the implications are for money centres
  • Discover how clients can approach the citizenship and residency opportunity

Changes in Global Oversight by Key Regulators

FATCA and CRS

  • Made in US and expanded globally
  • Volker rule: its impact and recent dilution

Offshore and Onshore - Money Movement and Size

  • The growth, opportunities and challenges in onshore money creation
  • The growth, opportunities and challenges in offshore money movements

Citizenship and Residency Planning and Opportunity

  • The key residency countries and requirements

Unit 6 THE FINANCIAL PLANNING PROCESS

Learning Outcomes

  • Show why financial planning is critical
  • Share how financial planning is structured for various client segments
  • Explain how the financial planning fulfilment is conducted, based on client objectives
  • Show how to stay the course to achieve long term financial life goals

The Process of Financial Planning

  • The 4-step FP process
  • Life-cycle planning process

Engaging Clients to Commence the Financial Planning Journey to Achieve Life Goals

  • Involving multi-generational family members
  • Starting with the baby boomers and moving to millennials and Gen Z

Ongoing Financial Planning Reviews to Stay the Course

  • Conduct on quarterly basis or as agreed/ needed based on client changes

Unit 7 EXCEPTIONAL CLIENT EXPERIENCE: WHO WILL BE THE DISNEY/RITZ/ AMAZON OF WEALTH MANAGEMENT

Learning Outcomes

  • Understand who the significant players are in the wealth management space
  • Discover how the wealth management industry is viewed by private clients
  • Learn what Disney, Ritz and Amazon consistently do for clients
  • Understand how wealth management providers can learn from others

Wealth Management Providers

  • Fintech
    • US, Europe, Asia leaders
  • Big tech
    • US, Europe, Asia leaders
  • Big universal banks; global/regional
    • US: Big 4, major regionals
    • Europe: major UK and European banks
    • Asia: Greater China, Singapore
  • ‘Pure’ WEALTH MANAGEMENT global/regional banks
    • US, European leaders

Lessons from Disney, Ritz and Amazon

  • What does Disney do best?
    • how anticipating client needs is embedded in the corporate culture
    • how to handle client complaints
    • training staff in exceptional client handling: from recruiting right to grooming right
  • What is the Ritz experience?
    • how the strong culture focuses on client first
    • how client need anticipation is core ethos
  • Applying the principles of exception client experience
    • the successful Disney programme
    • the Amazon click
    • clients journey: Using the integrated Drivers applied to clients effectively
    • hybrid advisor model: Advisor and digital
    • leveraging the omnichannel approach: digital, advisor/ specialists, remote centres

Experts

Malik Sarwar

Wealth Management executive operating at the leading edge of the Global Wealth Management industry with 30+ years of experience as a senior executive across the US, Asia, and MENA. Currently CEO at K2 Leaders Inc, a Wealth Management advisory firm based in NYC. Teaching, coaching, and consulting...

Vineet Vohra

Vineet, is a senior Financial Services professional, with over 25 years across Asset & Wealth Management, Retail & Private Banking, and Life & Pensions Insurance, Strategy & Execution Consulting, and Talent Advisory & Search. He has an extensive industry track-record in drivi...

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Postgraduate Certificate in Wealth Management at IFF Training

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