Wealth Management
[Webinar] Certified Private Wealth Professional (CPWP) Module 1 Refresher Programme: Topic 7 - Behavioural Finance
Overview
This course aims to cover the important concepts underlying behavioural finance, the impact it may have on investment performance (e.g. behavioural biases) and the actions that a private wealth manager may take to remedy these issues (including strategies such as client profiling, portfolio construction, and advisory lifecycle).
Objective
On completing this course, you should be able to:
a. Understand the definition of behavioural finance and its purpose for private wealth management (“PWM”) and investment management;
b. Illustrate with an example how loss aversion and risk aversion may affect customers;
c. Identify the potential impact of behavioural biases on investor decision process and customer investment performance; and
d. Apply strategies to deal with customer biases, including risk profiling process, risk evaluation and portfolio construction and risk management.
Content
1. Introduction to behavioural finance
2. Customer profiling
3. Behavioural biases
4. Prospect theory
5. Customer advisory lifecycle, customer biases and behaviours
6. Behavioural bias in the real world
Who should attend
It is primarily targeted to CPWP candidates who wish to take the CPWP Module 1 Paper 2 Examination. It is also relevant to those PWM practitioners who would like to enhance their knowledge and skills in wealth management.
Financial Incentive Scheme of the WAM Pilot Programme
This is one of the eligible courses / seminars under the Financial Incentive Scheme (“The Scheme”) of the WAM Pilot Programme.
Eligible in-service practitioners of the financial services industry could apply for a reimbursement up to 80% of the course / seminar fees, or a maximum of HK$10,000 per person throughout the period of 1 October 2016 to 31 March 2023 upon satisfactory completion.
Each individual may apply for reimbursement for more than one course / seminar subject to a maximum of HK$10,000 but each course / seminar can only be reimbursed once.
The duly signed application form together with the FIVE supporting documents must be submitted within FOUR months from the last day of the course / seminar attended. Please refer to the WAM Pilot Programme website for more details.
WAM Pilot Programme Special Requirements
If you plan to apply for reimbursement under the Financial Incentive Scheme (FIS), please ensure your device/computer has the camera feature or with webcam installed as you are required to turn on your camera throughout the webinar.