Columbia Business School

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.

Audience

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.

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.

Faculty

Bruce Greenwald Director, Heilbrunn Center Robert Heilbrunn Professor of Finance and Asset Management

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