SYLLABUS

 

Part 1: History of Wealth and Family Office and PWFO as a career

CHAPTER 1

• Introduction to PWFO: Meaning of wealth. Overview of the history of banking and wealth management. Purpose of a family office. Definition and characteristics of PWFO. Evolution and future of PWFO.

 CHAPTER 2

• Section 1 – PWFO as a career: Objectives of PWFO as a Career. Career options as a PWFO practitioner. Roles and services of a PWFO practitioner. Separation of Duties in PWFO Services.

 

• Section 2 – PWFO as a Business: Aspects of PWFO as a Business. Opportunities of PWFO as a Business. Challenges of PWFO as a Business. List of services offered by a PWFO Business. Pricing of the services offered by a PWFO Business. Steps in setting up a PWFO Business.

Part 2: Seven Key Processes Involved in PWFO

CHAPTER 3

• The process of financial information gathering: Understanding the client’s objectives. Understand the financial situation of the client using the risk and return questionnaire. Know your customer (KYC). Collect all bank statements, advices, circulars, current mandates.

 CHAPTER 4

• Interpretation of information gathered (Financial Inventory): Results of financial information gathering. Assessment of the financial situation of the client and risk profile. Valuation of all assets and liabilities of the client. High-level risk and return analysis of existing structure and portfolio. Assessing risk profile and lifetime cash flow requirement.

 CHAPTER 5

• Matching Analysis Process (Matching Analysis against financial inventory): Matching the current status of the client with its risk profile and lifetime cash flow requirement. Risk Analysis report, expected return and risk, asset classes, defining asset allocation and the benefits of diversification.

 CHAPTER 6

• Defining current year Investment strategy: Building up the portfolio. Percentage mix of equities, fixed income, alternative investments to meet the lifetime cash flow requirement of the client as per his/her risk profile.

 CHAPTER 7

• Investment Manager Selection: Selection of the appropriate banker, investment managers or any other professional service providers – history, past performance, and structure of service providers.

 CHAPTER 8

• Data collection: Information gathering from investment manager. Access to advices, statements and portfolio reports. Explanation of the investment strategies of fund managers. Importance of data protection and security.

 CHAPTER 9

• Control monitoring and reporting on risk/return performance: Computation of the change in net assets of the client. Reviewing data and realigning, deselecting and reappointing managers and rebalancing portfolio where applicable. Process of tracking the performance of the portfolio over time.

 

Part 3: Information Technology

CHAPTER 10

• Detailed discussion on data protection and data security. General Data Protection Regulation (GDPR).

 CHAPTER 11

• Properties and specifications of software applications to assist PWFO practitioners. FINTECH.

 

Part 4: PWFO Sales and Marketing

CHAPTER 12

• PWFO Sales & Marketing: Importance of having a Sales & Marketing Plan. ‘Zen Presentation’ by Patrick Murphy Sales and Marketing Plan. Filing the marketing plan questionnaire. The marketing environment. SWOT Analysis of the PWFO Business.