Wealth Planning Essentials
PROGRAM FORMAT: LIVE-ONLINE
The only certainty in today's economy is uncertainty. While markets have rebounded from their crash in 2020, the state of the global economy remains fragile. Rising prices are stoking inflation fears. Taxes are likely to go up in the coming years in response to rising deficits. How should families manage through the turbulence? In this live-online program, you’ll gain wealth planning essentials to navigate these uncertain times — and come away with strategic frameworks for effective wealth planning, creating shared purpose, and strategic philanthropy.
In this live-online program, attendees will gain the tools to incorporate individual and family values in effective wealth planning, creating shared purpose, and strategic philanthropy. You'll examine different approaches taxable investors can take to capture value, from simple to complex, and draw important lessons from successful multi-generational families.
Engage your Family
Members of the same family can derive considerable benefit from taking this program together. The program provides a foundation for continued productive dialogue well into the future. It also can bring together family members from different generations in an environment where they can explore and validate different perspectives. To attend as a family, contact us for a simple group registration process.
This program provides an opportunity to share experiences, express ideas, and connect with your peers. Because some of the most valuable learning in the course takes place in sharing experiences, we create a confidential and solicitation-free environment. All participants must sign a confidentiality agreement before joining the course.
FORMAT
Our live-online programs are delivered in a synchronous
format where you’ll engage with faculty and peers in an
interactive, high-impact virtual environment. The benefit of
this format is that you’ll receive valuable content in short,
digestible sessions to help you absorb the program materials
in-between sessions.
SCHEDULE
This program features live sessions held Mondays, Wednesdays, and Fridays starting at 9am CT over a two-week period.
Lectures will be recorded and available to participants any time during the program and for three weeks thereafter. Discussion groups will not be recorded.
View the full program schedule here.
Stuart E. Lucas
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.
Stuart has been an investment professional for over 35 years, and serves as WSP's CIO. In addition to his duties with WSP, Stuart is Chairman of the Investment Committee of National Public Radio and is a board member of the National Public Radio Foundation.
Stuart designed and leads the University of Chicago Booth School of Business's Private Wealth Management continuing education program, which has served over 500 individuals and families in the 12 to 14 years since the course’s inception. His book, Wealth: Grow It and Protect It (FT Press), has been published on three continents. He is the author of numerous articles on investing and wealth management, most recently "The 50% Rule" and "Pick Your Battles" (Journal of Wealth Management), co-authored with Alejandro Sanz. His latest book, "The Taxable Investor's Manifesto" (Wiley), will be published in early 2020.
Previously, Stuart was the Senior Managing Director of the Ultra-High Net Worth Group within Private Client Services at Bank One (now JP Morgan Chase), director of a multi-family investment office in Paris, France; General Manager of European operations of Wellington Management Company in London, England; and Assistant Portfolio Manager of a Forbes Honor Roll mutual fund.
He has a B.A. with honors from Dartmouth College, an M.B.A. from Harvard Business School, and is a Chartered Financial Analyst.
Merle Erickson
Merle Erickson studies the effect of taxes on the pricing and structuring of mergers, acquisitions, and divestitures; and the use of accounting information in valuation and contracting. He also studies, among other things, various aspects of accounting fraud. He teaches “Taxes and Business Strategy” at Booth and his course has been a staple of the Booth MBA curriculum for more than two decades.
In addition to numerous articles published in a variety of top academic journals, Erickson is a coauthor of the widely used Taxes and Business Strategy textbook (currently in its 6th edition) and is the author/editor of the casebook, Cases in Tax Strategy. From 2005-2011, he served as a co-editor of the Journal of Accounting Research.
Over the course of his career, Erickson has consulted on complex GAAP and tax accounting issues (e.g., debt versus equity, FIN 48 and ASC 740 related issues, intercompany accounting and consolidation, employee stock option accounting, accounting for acquisitions and divestitures, restated financial statements, etc.) in a variety of contexts (e.g., bankruptcy, mergers, acquisitions and divestitures, inversions, structured finance, investment planning, cross border and intercompany financing, partnership arrangements, tax sharing agreements, and various types of tax advantaged transactions). His clients have included, among others, the U.S. Department of Justice, the Internal Revenue Service, Fortune 500 companies in various industries, international financial institutions, law firms, accounting firms, and individual taxpayers. He has also assisted corporations with SEC, IRS and whistleblower investigations. Erickson brings these real world experiences to his “Taxes Business Strategy” and executive education courses at Booth.
He has been given several awards from the American Taxation Association for his research and teaching. He has received the Outstanding Manuscript Award (twice) as well as an award for teaching innovation. In addition to teaching graduate students at Chicago Booth, Erickson has taught courses to Morgan Stanley, Merrill Lynch, General Electric Capital Corporation, Baker McKenzie, Andersen Consulting, Accenture, CareerBuilder, and the IMCA (Investment Management Consultants Association) among others. He also has been named one of BusinessWeek's Outstanding Faculty at the University of Chicago.
Erickson earned a bachelor's degree in accounting from Rockhurst College in 1987, an MBA in 1989 from Arizona State University, and a PhD in accounting from the University of Arizona in 1996. He joined the Chicago Booth faculty in 1996.
In addition to his scholarly activities, Erickson is an avid fisherman. He received the Angler Award from the Billfish Foundation in 2003 for releasing the most striped marlin worldwide that year. His angling pursuits have taken him from the pristine lakes of northern Canada to some of the remotest stretches of the Great Barrier Reef.
Week One Sessions
Strategic Wealth Management Framework
Defining Your Financial Objectives
Investment Strategy 1
Managing a Taxable Investor’s Balance Sheet
Investment Strategy 2
Measuring and Managing Financial Tradeoffs: Eat well or sleep well?
Week Two Sessions
Risk Management Case Studies
Building a Vision for Your Wealth and Family
Fire Drill: Preparing for Sudden Departure
Strategic Philanthropy
Rethinking Your Financial Advisor’s Value Proposition
Wrap Up: Setting Yourself Up to Win
Office Hours – With Stuart Lucas
Held on multiple mornings before class, these sessions provide you with the opportunity to ask questions and get input regarding your specific circumstances.
Small Discussion Groups – Facilitated by Stuart Lucas
Discussion groups will be limited to 15 participants to preserve an intimate environment for meaningful dialogue. The full experience includes three discussion groups. Download the brochure to review the list of available topics.
I garnered a long-term perspective on managing wealth, risk, and building a family enterprise. Also, I gained an understanding of the role I have in being the family steward of wealth and the responsibilities that come with that. It was great to hear from other wealthy families on their successes as well as lessons learned.
—Seth Cohen
If you have come into wealth recently, don't invest in anything before you take this course. It is a must to understand the basics of the world of wealth management.
—Past participant
The course and themes were well chosen and in compact form. I liked that I could use professor Stuart E. Lucas's two books to prepare better for sessions. And I liked [taking] it online as I avoided traveling stress and saved a lot of time!
—Past participant
This is a great overview class for people beginning the path of wealth management (generation one or two). It goes much deeper than your average overview. I particularly appreciated the taxable investor discussion and how to re-evaluate your financial advisor.
—Past participant
It was late evening for us in India... yet after a full working day, i was completely engrossed in the program. We effectively sailed through a multitude of topics. I personally found the program engaging and encompassing.
—Past participant
PROGRAM ADMISSIONS AND EXPERIENCE OPTIONS
ADMISSIONS: This is an application-based program. Seats are limited in the full program experience since discussion groups will be capped at 15 people each; to ensure your seat, we highly encourage you to submit your application as soon as possible.
PROGRAM EXPERIENCE: This program offers two program experience options. Participants may select their experience choice during the registration process. Lectures will be recorded and available to participants any time during the program and for three weeks thereafter. Discussion groups will not be recorded.
Option One: Full Program Experience: $4,500 USD (includes all sessions plus three small discussion groups).
Option Two: Condensed Program Experience: $3,750 USD (includes all sessions, no discussion groups).
For additional details, please view the program schedule.