Comprehensive course analysis
Who should attend
PWM will be of greatest interest to 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 enterprise
We have found that multiple members of the same family—husband and wife, parent and offspring, cousin and cousin—derive considerable benefit from taking the course together. The program gives them a foundation for continued productive dialogue well into the future.
About the course
Through an energizing mix of rigorous academic insight and practical experience, this program teaches wealth owners a comprehensive, integrated, and strategic approach to wealth management.
As a wealthy individual, you are working to protect and grow your wealth, enjoy financial security, and build a lasting legacy. Effective investment management is critical, of course, but successful wealth management is an integrated and strategic discipline which also includes tax, estate planning, philanthropy, governance, and family culture. Each family's situation is unique, and no one solution will suffice for all.
During the PWM program, you will:
- Clarify your family and financial goals.
- Design a strategy to preserve and manage your wealth.
- Oversee financial advisors with greater confidence, accountability, and results.
The program incorporates case studies, lectures, and small and large group discussions. Because some of the most valuable learning in the course takes place in the shared experiences among classmates and peers, we create a confidential and solicitation-free environment. All participants must sign a confidentiality agreement before joining the course.
To facilitate the interactive nature of the course experience, enrollment is limited.
You will learn practical, tested, and actionable frameworks:
- Learn the key value drivers for preserving and growing wealth and how to use them, wherever in the world you reside
- Define your financial and family objectives within a comprehensive family enterprise management strategy that is consistent with your business, family values, and personal circumstances
- Explore family purpose and values within the context of a family enterprise. It’s a lot of work—is it worth it? Why?
- Delve into investment fundamentals and theory through two concurrent tracks. Track one is an introduction for those who have limited investment background. Track two is for participants who want a deeper dive into the nuances of asset allocation “factors”—such as value, momentum, and quality— that affect performance and the way value added, or “alpha,” is measured. Is past performance a good predictor of the future?
- Examine real estate as an important asset-class complement to equities and fixed income. Depending on how real estate is structured, it can have significant tax benefits that put more of the return in your pocket
- Select an investment strategy that is realistic, prudent, tax-efficient, and actionable given the time and resources you have to commit
- Learn the differences among the investment, brokerage, and wealth management industries, and their complex relationships and incentive systems. How can you align their interests with yours?
- Decide how to evaluate, select, and oversee the firms and individual advisors who are right for you and your family. Do you make decisions based on trust, service, or performance?
- Build performance evaluation, good reporting, and accountability into your relationships with your advisors
- Learn how trusts and other sophisticated planning instruments can reduce tax exposure, protect privacy, provide flexibility, and serve a family’s many generations without potentially spoiling them
- Explore governance systems that help your family steward assets wisely and encourage your family members to flourish. After all, human capital is your family’s most important asset
- Learn five lessons from families that successfully maintain and grow their wealth within thriving families for multiple generations. These lessons can be rolled up into the concept of “entrepreneurial stewardship” that reinforces rigor and vigor. Wealth doesn’t necessarily demotivate; in fact, wealth and the skill to use it purposefully is a powerful combination
- Finish the program with a list of action items that will make a real impact on your wealth management
Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance, University of Chicago Booth School of Business
John C. Heaton studies asset pricing, portfolio allocation, and time-series econometrics. He first became drawn to this area because he was "intrigued by the idea of understanding economic phenomena both to guide policy and to help people make better decisions." His research in these areas has ea...
Kathleen Fitzgerald is known at the University of Chicago as a superb educator. She brings a remarkably wide array of experience as an educator and a practitioner to the classroom. She has taught courses in Investments, Corporate Finance, Financial Accounting, Money and Banking, International Fin...
Stuart Lucas has worked as an investment professional for over 30 years. He is the founder, Chairman and co-Chief Investment Officer of Wealth Strategist Partners, LLC, an investment advisor to selected families and entrepreneurs specializing in the management of long-term taxable wealth. Additi...
Sara Hamilton is the Founder and CEO of Family Office Exchange (FOX), the definitive source of information and best practices associated with the business of managing family wealth across generations. The strength of the FOX network is derived from the collective knowledge and experience of over ...
Howard M. Helsinger, who is Lecturer in Law at the University of Chicago Law school, is a partner in the Chicago law firm of Sugar & Felsenthal, and was previously a partner with the recently deceased firm of Altheimer & Gray. He concentrates his practice in estate planning, estate admini...
Stephen R. Quazzo is Co-Founder and CEO of Pearlmark, a Chicago–based private equity real estate investment firm that pursues domestic, value-added strategies through a series of institutional and high net worth investment vehicles. Since its inception in 1996, the firm has made more than 530 off...
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Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.