FIN543 Management of Wealth Management Business introduces several ways in which wealth management and private banking business might be effectively structured and managed, and their respective advantages and limitations. Key elements in acquiring clients and building sustainable client relationship will be discussed, and as wealth management is a people business, how to develop and maintain high-performing wealth management teams will be shared. Furthermore, as “trust” is the single most important value placed by clients on wealth managers, various international benchmarks and best practices that help cultivate high standards of ethics and professional conducts of wealth managers in such areas like client on-boarding, investment advisory, fair dealing, ethical product sale and regulatory requirements will be discussed. Also, how information management system and performance measurement for wealth management business can be used by senior management to effectively manage the business and motivate the team for high performance will be explored. Lastly, creating an effective risk management and internal control system to ensure the long term viability of wealth management business will be emphasized. Overall, the course aims at providing the wealth management managers with the knowledge and skill in managing the critical operations of a wealth management business, from business development, talent development, maintaining reputation to risk management and internal control.
Credit Units: 5
Presentation Pattern: Every July