Private Wealth Management (ECFS906)

This unit builds on concepts covered in core units and incorporates the provision of private wealth management advice to investors. Aspects relating to client engagement and retention from the viewpoint of a private wealth manager will be covered and this is also contrasted and applied to other forms of advice delivery such as superannuation funds, SMSF, mass customised advice and robo-advice. A particular focus is on development and delivery of advice for long term investing e.g. saving to fund expenditure in retirement. Aspects of behavioural finance, fiduciary duties and responsibilities, and investment governance as it relates to the private wealth context will also be examined.

Learning Outcomes:

  1. Explain, as an individual and in groups, major current issues facing the private wealth management industry, private wealth managers and their clients.
  2. Explain relevant regulatory, market and client requirements, including strategies to manage a client's portfolio.
  3. Analyse the key attributes of alternative PWM techniques including their appropriate applications and limitations.
  4. Analyse key business drivers and sensitivities within various private wealth management business models and explain key issues.

Topics:

  1. The Private Wealth Management Industry Today
  2. Overview of Advice Channels
  3. Life Cycle Investing – Why People Save and Invest
  4. Client Acquisition and Retention
  5. Ascertaining and Meeting Client Needs
  6. Portfolio Construction and Taxes
  7. Insurance and Annuities
  8. Contemporary Issues
  9. Behavioural Finance and Individual Investors
  10. Compliance, Regulations and Ethics

Prerequisite Units:

Lecturers:

Unit Guides:

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