Private Wealth Management

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.

By attending, you will:

• Clarify your family and financial goals.

• Design a strategy to preserve and manage your wealth.

• Oversee financial advisors with greater confidence, accountability, and results.

The program incorporates case studies, lectures, and small and large group discussions. Because some of the most valuable learning in the course takes place in the shared experiences among classmates and peers, we create a confidential and solicitation-free environment. All participants must sign a confidentiality agreement before joining the course.

Social Events and Networking Opportunities: This program provides an exclusive opportunity to build a strong network with other wealth owners. In addition to collaborative classroom learning, you'll get to know other program participants during evening cocktail receptions and class dinners—an opportunity to share experiences, express ideas, and connect on a new level with your peers. Participants enjoy unique dining experiences around the city; past venues have included the University of Chicago's Oriental Institute, a renowned showcase for the history, art, and archaeology of the ancient East.

Pre-Course Sessions on Investment Basics

This program is designed to meet participants with varying levels of investment knowledge. For those less experienced with investing, participants are invited to attend two 90-minute virtual sessions on investment fundamentals to lay the groundwork before the program starts. These sessions are held over two evenings (Central Time) several weeks prior to the in-person program date.

In these live-online sessions, taught by Professor Kathleen Fitzgerald, you'll deepen your knowledge of stocks, bonds, mutual funds, and other investment vehicles. You'll learn investment principles such as the time value of money, calculating realized returns, estimating expected returns, risk vs. return, diversification, asset allocation, benchmarking, and performance measurement.

This program is for wealth owners only with financial assets of USD $20 million or more. Single family office executives may attend with principal family members, but other financial advisors may not attend.

Private Wealth Management is designed for US and international individuals and families who have built significant wealth in this generation, have inherited family wealth, or are contemplating or have recently experienced a transition, such as a liquidity event or change in family leadership.

PWM 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 enterprise

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.

Application Requirements

Completed applications should be submitted as early as possible. Candidates will be notified of acceptance within one week. Application does not guarantee admission; candidates will be selected on their ability to benefit from, and contribute to, the program's valuable peer-learning environment.

You will learn practical, tested, and actionable frameworks:

• Learn the key value drivers for preserving and growing wealth and how to use them, wherever in the world you reside 

• Define your financial and family objectives within a comprehensive family enterprise management strategy that is consistent with your business, family values, and personal circumstances

• Explore family purpose and values within the context of a family enterprise. It’s a lot of work—is it worth it? Why?

• Optional: Learn the basics of investing in financial markets during two live-online pre-course sessions. You'll deepen your knowledge of stocks, bonds, mutual funds, and other investment vehicles. You'll learn investment principles such as the time value of money, calculating realized returns, estimating expected returns, risk vs. return, diversification, asset allocation, benchmarking, and performance measurement.

• Gain a deeper dive into the nuances of asset allocation “factors”—such as value, momentum, and quality— that affect performance and the way value added, or “alpha,” is measured. Is past performance a good predictor of the future?

• Examine real estate as an important asset-class complement to equities and fixed income. Depending on how real estate is structured, it can have significant tax benefits that put more of the return in your pocket

• 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 potentially spoiling them

• Explore governance systems that help your family steward assets wisely and encourage your family members to flourish. After all, human capital is your family’s most important asset

• Learn lessons from families that successfully maintain and grow their wealth within thriving families for multiple generations. These lessons can be rolled up into the concept of “entrepreneurial stewardship” that reinforces rigor and vigor.  Wealth doesn’t necessarily demotivate; in fact, wealth and the skill to use it purposefully is a powerful combination

• Finish the program with a list of action items that will make a real impact on your wealth management

PWM comes highly recommended

94% of surveyed PWM participants said they felt they’ve become a better steward of their wealth, and 100 percent would recommend the program to others.

The PWM curriculum is built around an invaluable framework for preserving wealth and enhancing family happiness, covering everything from risk management to family governance. The program helped me organize my thoughts and identify gaps in my financial plan that I hadn’t considered. Now, instead of second-guessing myself, I feel confident knowing I’m following in the footsteps of those who have successfully navigated these challenges before.

- Ashwin Srinivasan, Partner, P600 Advisors LLC

The program provided great information, relevant case studies, and real-world experience, especially on how to work better with family.

The most impactful thing I learned was the holistic frame of a family enterprise and family wealth. It was helpful for me to see how you could look at an enterprise holistically. The virtuous cycle versus vicious cycle concept also really stood out. I left with a full binder of great education tools that I will be able to reference. I've already shared helpful materials and frameworks with some key people in the family enterprise.

- Marty Ozinga, CEO of Ozinga

If you and your family want to strive to make a difference in the world with your wealth, then PWM is a no-brainer.

- Logan Bitter, Managing Director, South Central Inc.

Perhaps the only forum where everyone feels comfortable about openly and honestly discussing not only wealth management, but wealth and what comes with it. The knowledge gained from your peers can be invaluable.

- Steve Bisulca, President, Veridian Healthcare, LLC

This class provides an overview of how to approach wealth in a proactive and positive way. As Stuart [Lucas] says, ‘wealth without values is just money’—I have found this to be so true. As stewards of wealth, our role is to help our family maximize their potential so they each can live a full life and help others do the same. For me, learning about investing, managing the operating business, and the importance of a family purpose and values provided a solid framework that I can apply right away. In addition, the instructors were fantastic and learning from my other classmates’ experience was priceless!

- Jeff, past participant

A+. The best wealth management seminar I have ever attended.

- David W. Burleigh, Partner, Buechner Haffer Meyers & Koenig

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, past participant

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

Rare to have access to this quality of participants, academics, and professionals. Great experience not solely based on program content, but total class.

- William Brewer, CEO, Cornell Forge

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

The course was incredibly interesting and thought provoking. The true 'transparency' of shared information by faculty and participants was especially refreshing.

- Kathy Leventhal

The organization and planning of the program was very good. Excellent lectures and group orientations and networking.

- Andres Araujo, Director of Trademarketing, D'casa

This is a must course for anyone interested in a multiple generational approach to investing and wealth management. The perfect balance between new insights and confirmation of long held beliefs.

- Steve Richardson, COO, Alamosa PCS

Your 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

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 

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

-Past participant

The program provides a systematic and comprehensive review of the topic of wealth management. The material presented was informative and references were provided so we can go much deeper on particular topics of interest. This evidence-based approach to a complex topic is what high wealth individuals need.

- Richard Scott, Professor, Reproductive Endocrinology

The program is right on. It covers all the topics that you need to plan, design, execute, and mentor your family wealth. You can’t find a better program out there!

- Lin Yu Chang, Owner and General Manager, Y.F., J.F.,U.F. Universe

As ever, what separates Chicago Booth from other business schools is that Chicago Booth endows students with the ability to be great and to be good.

- Patrick Dessert, Principal and Founder, PDMC Ventures and Booth MBA 2012