概要

This eCourse consists of two modules. Module 1 describes how wealth managers are required to have not just the quantitative skills associated with traditional portfolio theory but also the qualitative skills to bring to bear when advising clients on portfolio management. Today, the effective management of a private client’s portfolio extends beyond that outlined by modern portfolio theory and takes into account approaches such as goals-based investing.

Module 2 looks at some of the key investor behavioral biases and how they can influence client wealth discussions. An understanding of behavioral finance is a major component of a wealth manager’s advisory toolkit as it enables them to identify and eliminate wealth-destroying behavioral biases in both themselves and their clients. Uncovering such biases and alerting clients to them can offer a substantial advantage and result in increased product acceptance and greater client trust.

宗旨

On completion of this course, you will be able to:
- List the typical hierarchy of private client needs in the context of managing a client’s investment portfolio
- Identify the weaknesses of modern portfolio theory (MPT) in relation to a private client’s portfolio
- Recognise why a client’s attitude to their investment portfolio is strongly influenced by their stage in life
- Identify the importance of a goals-based investing approach in managing a client’s portfolio in today’s world
- List the key risks that need to be considered as part of the appropriate management of a client’s portfolio
- Recognise the importance of efficient tax management in relation to a client’s portfolio
- Recognise the importance of behavioral finance in understanding the motives and actions of private clients
- Identify the key behavioral biases that lead to clients making suboptimal investment decisions
- Recognise how wealth managers should discuss behavioral biases and the concept of risk with clients

內容

Module 1: Private Wealth Management - Client Investment Management
Topic 1: Understanding Client Needs
Topic 2: Client Lifecycle Considerations
Topic 3: Modern Portfolio Theory & Private Client Needs
Topic 4: Goals-Based Investing
Topic 5: Risk Considerations

Module 2: Private Wealth Management - Understanding Behavioral Biases
Topic 1: Overview of Behavioral Finance
Topic 2: Behavioral Biases
Topic 3: Applying Behavioral Finance to Client Wealth Management