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Family Wealth Management

Family Wealth Management

Overview

Based on the "Ben Graham" or "Warren Buffett" approach to allocating capital, Family Wealth Management teaches the frameworks and processes of investing that some of the most successful investors in the world employ to manage and preserve capital.

The curriculum includes case studies on investment strategies and sessions on illiquid investments and private equity. The program also covers best practices for family enterprises, family offices, estates and generational planning.

Please Contact Us

For additional details, contact Liz Schultz, senior associate director of learning solutions at 212-854-7613 or Lns11@columbia.edu.

Benefits

During the program, a select team of faculty and practitioners lead participants step by step through investment examples so they are able to make complex wealth management decisions with greater confidence. The program covers a range of key financial topics. Participants will:

  • Learn a framework for value investing and discuss relevant case studies to better prepare you for conversations with financial advisors and investment managers
  • Understand the investment process for investing in "growth" or franchise companies
  • Understand key considerations when selecting investment managers and family advisors
  • Participate in a planning and goal setting discussion in order to develop a perspective on key considerations for your family's needs and risk profile
  • Discuss risk management techniques for a value investing based wealth management strategy at the family office level, including incorporating macro economic considerations into your approach
  • Wrestle with a complex, multi-generational family wealth management case study
  • Discuss strategic philanthropy as a means for high-impact giving

Please note that the class size for the program is limited. Participants are carefully accepted to ensure an environment that is secure, comfortable, and ideal for learning and sharing.

Curriculum

Day One

  • Introduction to wealth management—key considerations
  • Introduction to the Graham and Dodd investing approach
  • Implementing a goal based investment process
  • Wealth management landscape and your family

Day Two

  • Investing in Franchises: Competition and Strategic Analysis
  • Psychology of Money Within the Family
  • Manager Selection: Choosing the Right Fund Managers to Complement Your Goals
  • A Family Perspective: One Approach to Managing Wealth
  • Philanthropy discussion

Day Three

  • Market exposure: the Quantitative Value Strategy option
  • Strategies for Avoiding common mistakes families make
  • Considerations when selecting family advisors, including choosing the right family office staff
  • Case Study: A Sound Investment Process—What Does it Look Like?
  • Interactive Case Study: Decision making within the family context

Day Four

  • Risk Management for the Family
  • Behavioral finance discussion—Why we betray our investment plan at exactly the wrong time
  • Macro Considerations: Investing Pitfalls and Avoiding Them
  • Incorporating Private Equity, where does it make sense?
  • Implementing Your Wealth Management Strategy: Operational Considerations

Audience & Testimonials

Family Wealth Management is designed for individuals and their family members who have complex portfolios that exceed $20 million of investable assets.

The Alumni Tuition Benefit and Alumni Bidding Points may not be used toward Family Wealth Management.

 
What recent participants say about Family Wealth Management:

"Exceeded my expectations, and cleared a number of questions I have been asking for years, with no answers from our advisers."  – Anonymous

"Bruce Greenwald is surprising in every way. Unparallel knowledge, availability, clarity of thought and perfect way of making us understand the most complex concepts."  – Anonymous

"I am amazed by how much I know - but more so by how much I didn't know. I have learned and thought about so many opportunities talked about. Thank you!"  – Anonymous

Faculty

Bruce Greenwald, Faculty Director
Robert Heilbrunn Professor of Finance and Asset Management
Faculty Director of the Heilbrunn Center for Graham & Dodd Investing

Bruce Greenwald, described by the New York Times as "a guru to Wall Street's gurus," is an authority on value investing with additional expertise in productivity and the economics of information. Greenwald has received numerous teaching awards, including the Columbia University Presidential Teaching Award, honoring the best of Columbia's teachers who maintain the University's longstanding reputation for educational excellence. Some of his book publications include:

The Curse of the Mogul: What's Wrong with the World's Leading Media Companies (2009)
Authors: Jonathan Knee, Bruce Greenwald, Ava Seave

Competition Demystified: A Radically Simplified Approach to Business Strategy (2005)
Authors: Bruce Greenwald, Judd Kahn

Towards a New Paradigm in Monetary Economics (2003)
Authors: Joseph Stiglitz, Bruce Greenwald

Value Investing: From Graham to Buffett and Beyond (2001)
Authors: Bruce Greenwald, Michael Van Biema, Judd Kahn

Led by Professor Greenwald and industry consultant Erin Bellissimo, the program features a team of regarded academics and practitioners who contribute to and teach in the program.

 

Related Programs

Other Finance Programs:

  • Finance and Accounting for the Nonfinancial Executive
    This program utilizes hands-on workshops, discussions and case studies to deepen participants' understanding of finance and accounting for better management and decision-making capabilities.
     
  • Value Investing
    Building on the seminal work of Professors Benjamin Graham and David Dodd '21, this program extends the legacy of value investing at the place where it all began.
     

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