How To Learn Private Wealth Management

Transcription

1 Private Wealth Management Exclusively for High Net Worth Individuals and Families April 26 29, 2016 October 18 21, 2016 Optional Sessions: Investment Fundamentals April 25, 2016 Investment Fundamentals October 17, 2016 Apply online: ChicagoBooth.edu/PWM Seats limited, please apply for the Spring program by March 11, 2016

2

3 Private Wealth Management Exclusively for High Net Worth Individuals and Families An integrated and strategic approach to wealth management specifically for wealth owners Gleacher Center April 26 29, 2016 October 18 21, 2016 Optional Sessions: Investment Fundamentals April 25, 2016 Investment Fundamentals October 17,

4 Private Wealth Management Exclusively for High Net Worth Individuals and Families 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. In this program, you will gain frameworks, tools, and skills so that you can clarify your family and financial goals, design a strategy to preserve and manage your wealth, and oversee financial advisors with greater confidence, accountability, and results. This rigorous program incorporates case studies, lectures, and small and large group discussions. Some of the most valuable learning in the course takes place in the shared experiences among classmates and peers, so we create a confidential and solicitation-free environment. Private Wealth Management is designed for US and international individuals and families who have built wealth in this generation, have inherited family wealth, or are contemplating or have recently experienced a liquidity event. Family office executives may attend with principal family members, but the course is closed to all other financial services professionals. Program Outline You will learn practical, tested, and actionable frameworks. Define your financial and family objectives, and use them to design a wealth management strategy that is consistent with your values and personal circumstances, and delivers on your priorities. 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 inevitably spoiling them. Develop and communicate a governance system that helps your family to steward assets wisely and that encourages your family members to flourish. After all, human capital is your family s most important asset. Integrate philanthropy and public service into your wealth management strategy. Optional Session: Investment Fundamentals (1:30 5 p.m.) This session covers investment basics for those with limited investment experience or for those who would like a concentrated refresher. Day 2 of the program will build upon this foundation by examining investment theory and strategies in greater detail. Participants with limited exposure to investing concepts are strongly encouraged to attend this optional session. This session will focus on the basics of investments such as stocks, bonds, mutual funds, exchange-traded funds (ETFs), and hedge funds; access to investments through advisors, brokers, and direct investments; understanding performance reports; fees and other costs; and measures of risk and return. Program Dates and Fees #16C23001 April 26 29, 2016 ($9,900) Optional Session: April 25, 2016 Investment Fundamentals #16C23002 October 18 21, 2016 ($9,900) Optional Session: October 17, 2016 Investment Fundamentals 2 The program fee includes tuition, books, and most meals. Wolfgang Puck Catering provides exceptional cuisine to Gleacher Center. The fee is subject to change and payable in advance upon confirmation of registration. This course begins at 8 a.m. on Tuesday and ends at 3:45 p.m. on Friday.

5 Sample Program Overview Time Monday Tuesday Wednesday Thursday Friday Morning Sessions The Strategic Wealth Management Framework Defining the Vision for Your Wealth Management Endeavors Defining Your Financial Objectives Investment Theory & Strategies Private Equity and Venture Capital Optional Investment Lunch Discussion Investment Infrastructure and Reporting Taking the Long-Term View of the Family Enterprise & Its Governance Structures Promoting Entrepreneurial Stewardship Afternoon Sessions Optional Investment Fundamentals Session Overview of Investment & Wealth Management Industries Defining the Vision Breakout Session Multigenerational Estate Planning Tax Factors for Individuals Separate Tax Breakout for International Participants Hedge Funds Picking Your Investment Strategy The Power of Giving Back Choosing Key Financial Advisors to Support the Family Ecosystem Key Takeaways and Tying It All Together Evening Cocktail Reception Cocktail Reception & Dinner Off-site Class Dinner Cocktail Reception Who Should Attend This course is for wealth owners only. Family office executives may attend with principal family members but no other financial services professionals may attend. The course 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 office 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. To facilitate the interactive nature of the course experience, enrollment is limited. For More Information Contact: EXECUTIVE EDUCATION Rebecca Meyer The University of Chicago Associate Director, Executive Education Booth School of Business Phone: N. Cityfront Plaza Drive, Suite 514 Fax: Chicago, IL [email protected] 3

6 Praise From Participants 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 The 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 PWM was a milestone; it helped us by giving a path to manage wealth and family. Since then, our wealth has suffered no big changes, our ships are in safe harbor, and the family is more united than ever. A PWM participant PWM gave me a broader perspective of wealth management, a better understanding of the returns that can be expected from the markets, and a deeper knowledge of the advisory firms industry. A PWM participant 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 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 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 Overall Course Value (out of 5) High Participant Satisfaction Course Dates To view a video that features additional participants perspectives on Private Wealth Management, visit ChicagoBooth.edu/PWM Outstanding Chicago Booth Faculty Chicago Booth has one of the most highly regarded finance faculty of any business school in the world. The program s faculty members are not only world-class researchers, but also singled out by Bloomberg Businessweek magazine as being among the nation s best teachers in the world of business. Complementing our faculty are wealth management experts who have practical experience in the complex financial and family issues of wealth. Together, they offer academic excellence, rigorous scholarship, real-world experience, and practical application that provide participants with unparalleled opportunities to expand their horizons. Steven N. Kaplan Co-Faculty Director and Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance Chicago Booth Steven N. Kaplan teaches advanced MBA and executive courses in entrepreneurial finance and private equity, corporate financial management, corporate governance, and wealth management. He is one of the world s foremost researchers on private equity, venture capital, and corporate governance, and his papers on LBOs and private equity are the standard references in the field. He is a research associate at the National Bureau of Economic Research and has been named one of the top twelve business school teachers in the country by Bloomberg Businessweek. Professor Kaplan is also the faculty director of Chicago Booth s Polsky Center for Entrepreneurship and Innovation and co-founder of the entrepreneurship program. With his students, he helped start Booth s business plan competition, the New Venture Challenge, which has spawned over 100 companies. The companies have raised over $300 million and created $4 billion in value. Companies include GrubHub, Braintree, Bump, and FeeFighters. Professor Kaplan earned his PhD in business economics from Harvard University. 4

7 John C. Heaton Co-Faculty Director, Joseph L. Gidwitz Professor of Finance, and Deputy Dean for Faculty Chicago Booth John C. Heaton studies asset pricing, portfolio allocation, and time-series economics. He first became 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. The practical problems investors and institutions face are a key component of his teaching. Professor Heaton has published papers and articles in numerous business and academic journals. He is a research associate with the National Bureau of Economic Research. He earned his PhD in economics from the University of Chicago. Stuart E. Lucas Adjunct Professor of Finance, Chicago Booth Chairman and Co-Chief Investment Officer, Wealth Strategist Partners, LLC Stuart E. Lucas has worked as an investment professional for over 30 years. He founded Wealth Strategist Partners in 2004, as the successor to his family s investment platform, where he was co-chief investment officer for many years following the sale of the family s business, the Carnation Company. The family remains a client of WSP in addition to several other families. Along with Steve Kaplan and John Heaton, Mr. Lucas is a principal designer of Private Wealth Management. The program expands and operationalizes the approach described in his book, Wealth: Grow It and Protect It. Previously, Mr. Lucas was the managing director of the Ultra-High Net Worth Group within Private Client Services at Bank One and general manager of European operations of Wellington Management Company. He is a featured speaker around the world and author of numerous articles on wealth management, including The 50% Rule. He has a bachelor s degree from Dartmouth College, an MBA from Harvard Business School, and is a Chartered Financial Analyst. Bruce Boyd Principal and Managing Director Arabella Advisors Bruce Boyd joined Arabella Advisors as a principal and managing director in 2007 after spending 20 years building and leading for-profit and nonprofit ventures. Mr. Boyd has led a range of engagements for Arabella s foundation, individual and family, and corporate clients. Those engagements have focused on strategic planning, due diligence, program implementation, and evaluation of impact, and they have stretched across a range of issue areas including community development, human rights, education, and the environment. Mr. Boyd also writes and speaks widely about philanthropy and the nonprofit sector. Mr. Boyd graduated from Middlebury College, earned his law degree from the University of Chicago, and studied business at Northwestern s Kellogg School of Management. Sara Hamilton Founder and CEO Family Office Exchange (FOX) Sara Hamilton is the founder and CEO of Family Office Exchange (FOX), a definitive source of information and best practices associated with the business of managing family wealth across generations. In 2014, FOX celebrated its 25th anniversary of service and remains true to its founding mission of objectivity in wealth management, member education, and shared knowledge across a sophisticated, global network of families and leading wealth advisors. Ms. Hamilton is the co-author of Family Legacy and Leadership: Preserving True Family Wealth in Challenging Times. For three years running, she was named as one of the Top 50 Women in Wealth Management by Wealth Manager. Howard M. Helsinger Lecturer in Law The University of Chicago Law School Howard M. Helsinger is a partner in the Chicago law firm of Sugar Felsenthal Grais & Hammer LLP and a lecturer at the University of Chicago Law School, where he has taught trusts and estates since He concentrates his practice in estate planning, estate administration, probate, charitable planning, and trust and estate related litigation. He has a bachelor s degree in English from Haverford College, a PhD in English literature from Princeton University, and a JD from the University of Chicago Law School. 5

8 The University of Chicago Booth School of Business The University of Chicago has a long history steeped in a tradition of academic excellence and innovation. Chicago is about deep thinking and big ideas. That commitment to discovery has translated into enduring contributions to the world. Its faculty, researchers, students, and graduates boast 89 Nobel laureates. The ideas and strategies that will shape the business environment tomorrow are being formulated and taught at The University of Chicago Booth School of Business today. For more than 100 years, Chicago has been a leader and innovator in the field of business research and education. Many of Chicago s current innovations are directly related to its close ties with the leaders of some of the world s most respected corporations. This grounding in the real world has helped Chicago Booth maintain its reputation as one of the world s leading centers of business education and research. Known for enduring contributions to the field of business as researchers and consultants, Chicago Booth s faculty is also noted as some of the world s best business teachers. Chicago Booth offers seven full and part time programs leading to the MBA degree. In addition, Chicago offers a PhD program, open enrollment executive education seminars, and custom programs tailored to the needs of individual companies. Chicago Booth operates two campuses in Chicago, one in London, one in Singapore, and one in Hong Kong. Chicago s reputation, commitment to academic research, and high quality faculty offer a prestige that few can match. Custom Learning Solutions Chicago Booth has developed educational programs that create lasting value for organizations around the world. Whatever the reason for seeking our expertise, one outcome is certain: participants emerge as better thinkers, able not just to apply tested concepts to the issues at hand, but also to approach and think through the unknown challenges ahead. Case Study: After attending the Private Wealth Management (PWM) program in Chicago, a Spanish family encouraged the creation of a similar program for families in Spain. In Spring 2009, Chicago Booth and the NUMA Foundation launched PWM Spain which continues to be offered each year in Madrid. Approximately 25 percent of the participants in each course are friends or family of previous course participants. The Setting Executive Education classes are held at Gleacher Center, 450 North Cityfront Plaza Drive, situated along the Chicago River. Gleacher Center features state-of-the-art classrooms and exceptional cuisine by Wolfgang Puck Catering. It also houses Chicago Booth s top-ranked Executive MBA and Evening MBA programs. One block east of Michigan Avenue, Gleacher Center is in the heart of the downtown area known as The Magnificent Mile, which is in walking distance of Chicago s exciting retail and entertainment areas. Accommodations The University of Chicago Booth School of Business has placed a small block of rooms on hold at the InterContinental Hotel, located at 505 N. Michigan Avenue. To make a reservation at the InterContinental, please contact the Reservations Department by telephone at or by fax at Participants should identify themselves as part of the University of Chicago Private Wealth Management program to receive the negotiated rate. Three weeks prior to the program s start date, or once the block is filled, the hotel cannot guarantee accommodations. Gleacher Center is conveniently located near many downtown hotels, some of which also offer discounts specifically to guests affiliated with the University of Chicago. Please contact Rebecca Meyer at for a list of these preferred hotels and special rates. 6

9 APPLICATION FOR ADMISSION Private Wealth Management Exclusively for High Net Worth Individuals and Families INSTRUCTIONS Please fax, or mail this form to: The University of Chicago Booth School of Business 450 N. Cityfront Plaza Dr., Suite 514 Chicago, IL Phone: Fax: Cancellations and transfers are accepted without charge if written notification is received at least 30 days prior to the program s starting date. Cancellations received after that time will be charged 25 percent of the total program fee. No-shows are liable for full tuition. Chicago Booth reserves the right to cancel any program. Transfer requests received within 30 days of the program start date will be subject to a $200 transfer fee to cover administrative costs. Any late transfers followed by a cancellation will be charged 25 percent of the program fee. Transferees will have a period of one year from the date of their transfer request to attend a subsequent program offering. After a one-year period, tuition fees will be forfeited. Transferees will be required to pay fee increases, should any take place. Substitutions of registrants in a session may be made, without penalty, any time prior to the program s commencement. Photo rights The University of Chicago reserves the right to use photos taken during seminar activities for promotional purposes. Confidentiality and Non-Solicitation All participants must agree to and sign a confidentiality and non-solicitation agreement to protect the privacy of the participants. Code: 16C23001 Date: April 26 29, 2016 Fee: $9,900 I will attend the optional Investment Fundamentals session on April 25, 2016 Code: 16C23002 Date: October 18 21, 2016 Fee: $9,900 I will attend the optional Investment Fundamentals session on October 17, 2016 Fee: The program fee includes tuition, lunches, two class dinners, and all educational materials. Fee is subject to change and payable in advance. I am unable to attend. Please provide information regarding future sessions of this program. Personal Information Name Mr. Ms. Dr. FIRST MIDDLE LAST Name (for name badge) Position/Title (if applicable) Company (if applicable) Type of firm (manufacturing, service, retail, etc.) Mailing address City State Zip Country Phone Mobile phone Most recent degree? High School BS BA MS MA MBA PhD JD LLD MD Year Earned School/University Please provide a brief biographical sketch. Please include information about your family and the source of your wealth. You may attach a separate sheet. Would you be interested in sharing your biographical sketch with your classmates? Yes No How would you describe your current financial and family objectives? 7

10 Course Objectives Describe your goals in attending the PWM program. What are your highest priority wealth management issues, concerns, or objectives? Profile Are you the beneficial owner of financial assets over $10 million? (stocks, bonds, private equity, hedge funds, investments, real estate, etc.) Yes No Please indicate your family s approximate net worth. $10m $50m $50m $250m $250m $1b >$1b Is your primary interest in wealth management during your lifetime? with a multigenerational timeframe? What generation are you relative to the original wealth creator? 1st 2nd 3rd 4th more How many family members are involved with, or beneficiaries of, your wealth management activities? Involved: Beneficiaries: What type of company or enterprise created the family s wealth? How did you hear about this program? I received a brochure in the mail Wealth Strategist Partners A past participant recommended this course Family Office Exchange (FOX) Online search A University of Chicago alum recommended this course Membership organization: Other: Payment Information h Check enclosed (payable to Chicago Booth Executive Education). h Check to follow. h Please invoice. h Credit card by phone (All major credit cards accepted). 8

11

12 Apply online: ChicagoBooth.edu/PWM For more information concerning Chicago Booth s Executive Education courses: Phone: Fax: [email protected] Write: 450 North Cityfront Plaza Drive, Suite 514 Chicago, Illinois