Program Overview
Whether wealth arrives predictably or suddenly, many wealthy families find financial decision making to be a major challenge. For more than 20 years, Wharton and the Institute for Private Investors (IPI) have provided education to help high-net–worth families better manage their assets and work with advisors to achieve their financial goals.
Through class lectures and interactive casework, participants in Private Wealth Management will build a baseline for understanding financial terms and investment performance metrics. They will increase their knowledge in key areas of wealth-management portfolio diversification as well as asset allocation, and learn how to select the right financial advisors. In addition to classroom learning, participants will also have the unusual opportunity to meet others who are part of a family with substantial wealth.
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Family members often attend Private Wealth Management together, says Academic Director Richard C. Marston.
Date, Location, & Fees
If you are unable to access the application form, please email Client Relations at [email protected].
April 28 – May 3, 2024Philadelphia, PA$16,250
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- Program Experience
- Who Should Attend
- Faculty
- Testimonials
Program Experience
Highlights and Key Outcomes
In Private Wealth Management, you will:
- Increase your depth of knowledge in key areas of private wealth management
- Learn the latest thinking in modern portfolio theory, global markets, asset allocation, family governance, and manager selection
- Meet and collaborate with others who are also part of a wealthy family and have the need for family asset management
Dr. Mike Kane talks about what participants can expect in the Private Wealth Management Program.
Experience and Impact
Regardless of whether you are transitioning leadership from one generation to another, selling a business, or simply trying to make better decisions regarding your family‘s wealth, Private Wealth Management offers a unique learning opportunity. This immersive, six-day course will give you the knowledge and the confidence needed to achieve your wealth management goals.
The program, first designed for the Institute for Private Investors (IPI), allows participants to increase their depth of knowledge in key areas of wealth management while having the unusual opportunity to meet and work with others who, like themselves, are part of a family with substantial assets. The case study for the program is directly related to private wealth management issues and current market challenges.
Wharton faculty — led by Professor Richard C. Marston, a leading expert on international investing — apply their field-based research and the latest strategic insights to help you broaden your perspective on how to make your organization more competitive.
Session topics include:
- Performance Measurement and Manager Evaluation
- Historical Returns in Markets
- Behavioral Finance and Investor Psychology
- Modern Portfolio Theory
- Family Governance and Wealth Transfer
- Asset Allocation
- Benchmarks
- Hedge Funds: Evidence and Case Studies
- Wealth Management Unwrapped
As part of the core curriculum, the program places you within the Currency Family, a fictitious family with business and investment interests worldwide. You and your fellow participants will make decisions that will affect the family’s wealth and members of the family for generations to come.
This distinctive Wharton experience uses class lectures, interactive casework, and participants’ personal experiences to increase your depth of knowledge in key areas of wealth management and prepare you to apply it to your own situation.
Convince Your Supervisor
Here’s a justification letter you can edit and send to your supervisor to help you make the case for attending this Wharton program.
Due to our application review period, applications submitted after 12:00 p.m. ET on Friday for programs beginning the following Monday may not be processed in time to grant admission. Applicants will be contacted by a member of our Client Relations Team to discuss options for future programs and dates.
Who Should Attend
Private Wealth Management is designed for family members whose family is in transition from illiquid to liquid assets or whose leadership is shifting from one generation to the next. The program also attracts financially sophisticated individuals who seek a more disciplined strategy for today’s financial markets and individuals looking for a current and rigorous curriculum on wealth management.
Participants in this program are a diverse group of global investors from multiple geographies. Faculty tailor the program content to reflect the needs of the participants, so they enjoy an executive education experience that truly resonates with them and meets their learning needs.
Fluency in English, written and spoken, is required for participation in Wharton Executive Education programs unless otherwise indicated.
Plan Your Stay
This program is held at the Steinberg Conference Center located on the University of Pennsylvania campus in Philadelphia. Meals and accommodations are included in the program fees. Learn more about planning your stay at Wharton’s Philadelphia campus.
Faculty
Richard Marston, PhDSee Faculty Bio
Academic Director
James R. F. Guy Professor Emeritus of Finance, The Wharton School
Research Interests: Foreign exchange risk management, international asset pricing, international investments
Christopher Geczy, PhDSee Faculty Bio
Adjunct Professor of Finance; Academic Director, Wharton Wealth Management Initiative; Academic Director, Jacobs Levy Equity Management Center for Quantitative Financial Research, The Wharton School
Joseph Gyourko, PhDSee Faculty Bio
Martin Bucksbaum Professor; Professor of Real Estate; Professor of Finance; Professor of Business Economics & Public Policy; Nancy A. Nasher and David Haemisegger Director of the Zell/Lurie Real Estate Center, The Wharton School
Research Interests: Housing markets, real estate finance, and real estate economics
Mike KaneSee Faculty Bio
Visiting Scholar, Collegium Institute
Research Interests: Political theory, political economy, and the relationship of philosophy and economics
A. Craig MacKinlay, PhDSee Faculty Bio
Joseph P. Wargrove Professor of Finance, The Wharton School
Research Interests: Asset pricing models, behavior of futures prices, econometric modeling, stock market behavior
Marina Niessner, PhDSee Faculty Bio
Judith C. and William G. Bollinger Visiting Associate Professor of Finance
Research Interests: Behavioral finance, empirical asset pricing, fintech
Bilge Yilmaz, PhDSee Faculty Bio
Wharton Private Equity Professor; Professor of Finance; Academic Director, Harris Family Alternative Investments Program, The Wharton School
Research Interests: Corporate finance, alternative investments, game theory, political economy
Testimonials
I came to Wharton at a time when I was very involved in restructuring my family office, and dealing with beneficiaries who range from sophisticated investors to people who don’t know what a private placement is. I wanted to see if the Private Wealth Management program (PWM) was appropriate to start sending our younger beneficiaries to in order to give them a background education on investing and wealth management.
People often feel out of their depth when dealing with wealth, and I think that the PWM course brings a tremendous amount of comfort in understanding that it’s not all just financial speak. The course builds a fantastic baseline for understanding financial terms and appraisal metrics. It will allow family members to think in a financial way when they never had the predilection to before and will help them become more involved and more engaged in our family’s investment strategy long term. I intend on advising several next-gen beneficiaries on attending the PWM course.
Wharton also helped me simplify how I present financial concepts to beneficiaries. Having a more simplified evaluation of terms will allow me to communicate in a much clearer way when I talk about risk, market dependency and other concepts. I am looking forward to taking additional Wharton programs to help me put into practice new funding models, including our direct investment approach at Saviva Capital.”
Matthew S. BradfieldExecutive Chairman, Saviva Capital LLC., Boston
I have two investment advisors who manage my assets, and I wanted to have a better understanding of how the investment management process works. This program opened my eyes on how to be consistent in my approach using portfolio diversification, asset allocation, and other tools. Diversification is key [as is] the importance of tax impact, fees, manager selection, and performance. Those issues were on my radar before I came to the program, but Wharton did a fantastic job of going deeper and explaining how to measure the impact of these various components on the assets.
Since taking this program I was able to work with my advisors to reallocate the portfolio toward tax-efficient investing and select the right set of managers. It also gave me enough confidence to start investing on my own. I have carved off some portions of my portfolio, and I'm actually managing it myself. This is an ideal program for people new to investing and also those second-and third-generation families that have in-house expertise. The class covered advanced topics but went at a pace where people with some investment knowledge could also benefit.”
Ravi ChandranPrivate investor, Illinois
Date, Location, & Fees
If you are unable to access the application form, please email Client Relations at [email protected].
April 28 – May 3, 2024Philadelphia, PA$16,250
Apply Now
Hotel Information
Fees for Philadelphia programs include lodging and meals. Prices are subject to change.
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Contact Us
Upon submission of your application, you will be contacted by the Institute for Private Investors. For more information, contact the Institute for Private Investors by phone.
+1.212.693.1300
The Route to Better Wealth Management Download PDF from The Financial Times
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