Executive Education

Private Wealth Management: For Individuals and Families

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. Please submit your application by: 

  • March 23, 2020 for the spring program
  • September 7, 2020 for the fall program

This program is also offered in Spain

LOCATION
Chicago Booth, Gleacher Center, Chicago, IL 

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John C. Heaton

Joseph L. Gidwitz Professor of Finance

John C. Heaton studies asset pricing, portfolio allocation, and time-series econometrics. He was first 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 earned him numerous fellowships, including an Alfred P. Sloan Research Fellowship from 1993 to 1995.

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Stuart E. Lucas

Co-Managing Partner and Chief Investment Officer, Wealth Strategist Partners, LLC

Stuart Lucas has worked as an investment professional for over 35 years. Stuart founded Wealth Strategist Partners (WSP) as the successor to his family's investment platform, where he was co-Chief Investment Officer for many years following the sale of Carnation Company, the business founded by his great-grandfather. The family remains a client of WSP, an investment advisor to selected families and entrepreneurs specializing in the management of long-term taxable wealth.

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Steven N. Kaplan

Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance and Kessenich E.P. Faculty Director at the Polsky Center for Entrepreneurship and Innovation

Steven N. Kaplan teaches advanced MBA and executive courses in entrepreneurial finance and private equity, corporate finance, corporate governance, and wealth management. Business Week named him one of the top 12 business school teachers in the country. He co-founded the entrepreneurship program at Booth. Professor Kaplan has been a member of the faculty since 1988.

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Sara Hamilton

Founder and CEO, Family Office Exchange

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 more than 500 globally-minded family enterprises based in 26 countries.

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Howard M. Helsinger

Partner, Sugar Felsenthal Grais & Helsinger LLP

Howard M. Helsinger is a partner in the Chicago law firm of Sugar Felsenthal Grais & Helsinger LLP and taught courses on trusts and estates at the University of Chicago Law School from 1997 to 2016. He is a member of the American College of Trust and Estate Counsel, a past chair of the Chicago Bar Association Probate Practice Committee, and a frequent lecturer for the Illinois Institute of Continuing Legal Education and other state and national bar associations.

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Kathleen Fitzgerald

Adjunct Associate Professor of Strategic Management

Kathleen Fitzgerald is known at the University of Chicago as a superb educator. She brings a wide array of experience as an educator and a practitioner to the classroom. She has taught courses in Investments, Corporate Finance, Financial Accounting, Strategy, Money and Banking, International Finance and Financial Management. She has been teaching in our CIMA Education program since its inception. Her professional experience includes auditing and tax consulting at Ernst & Young, LLP and forensic accounting consulting at Chicago Partners.

A terrific, relevant subject. This entire seminar was thought provoking, purposeful and very well organized.

- P.J. Thompson, President, Trans-Matic Mfg Co. Inc.


A+ -- best wealth management seminar I have ever attended.

- David W. Burleigh, Partner, Buechner Haffer Meyers & Koenig


Excellent program and I would say better than others that I have attended. I found it extremely beneficial to attend with my family, and we liked that the program's structure allowed time to share knowledge and learning with each other and fellow classmates.

- Kristen, past participant


My family learned a great deal from the knowledgeable faculty and interaction with other participants. Attending with my family was enormously valuable and I would highly recommend it -- we could discuss the sessions and how they related to our situation, further cementing what we learned.

- Esther Brabec, past participant


Rare to have access to this quality of participants, academics, and professionals. Great experience not solely based on program content, but total class.

- William Brewer, CEO, Cornell Forge


The course provided the perfect launch platform for setting my financial objectives and beginning the exercise of deciding on investment strategies and confronting the overall wealth management challenge.

- Guillaume Cuvelier, Founder and former CEO, SVEDKA Vodka


The course was incredibly interesting and thought provoking. The true 'transparency' of shared information by faculty and participants was especially refreshing.

- Kathy Leventhal, past participant


The organization and planning of the program was very good. Excellent lectures and group orientations and networking.

- Andres Araujo, Director of Trademarketing, D'casa


This is a must course for anyone interested in a multiple generational approach to investing and wealth management. The perfect balance between new insights and confirmation of long held beliefs.

- Steve Richardson, COO, Alamosa PCS


Your program covered a great deal of complex material and made it come to life! As a result of what my wife and I learned, we are going to make BIG changes in our portfolio. It is a long trip from Shanghai, but I can honestly say it was one of the most valuable weeks in my life.

- Patrick Hopkins, past participant


The PWM program is the most profound education ever delivered to me. Thinking of wealth as ‘well being’ will likely enhance the lives of the Guminski family for generations.

- Christine Guminski 

This program is for wealth owners only, with financial assets of USD $10 million or more. Single family office executives may attend with principal family members, but other financial advisors may not attend.

Private Wealth Management is designed for US and international individuals and families who have built significant wealth in this generation, have inherited family wealth, or are contemplating or have recently experienced a transition, such as a liquidity event or change in family leadership. 

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.

ENROLLMENT REQUIREMENTS
Completed applications should be submitted as early as possible. Candidates will be notified of acceptance within one week. Application does not guarantee admission; candidates will be selected on their ability to benefit from, and contribute to, the program and valuable peer-learning environment.

Program Outline

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
Learn more about the PWM program schedule by downloading our program brochure.

Upcoming Courses

Date Fee  
May 4-8, 2020 $11,800 Apply Now »
October 19-23, 2020 $11,800 Apply Now »

Fee does not include accommodations.

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