T rivat ealt anagemen rogramme The Private Wealth ... · Whether the wealth arrives predictably or suddenly, many families find financial decision making to be a major challenge

The Private Wealth Management Programme 8th – 12th June 2015 1

The Private Wealth Management Programme The Private Wealth Management ProgrammeLondon, United Kingdom 8th – 12th June 2015

2 The Private Wealth Management Programme 8th – 12th June 2015

The Private Wealth Management Programme

WHO SHOULD ATTEND

• Individuals and families who are facing or have experienced a substantial liquidity event

• Family members whose family is in transition from illiquid to liquid assets

• Individuals and families with inherited wealth

• Financially sophisticated individuals who seek a more disciplined strategy for today’s markets

• Individuals and families who are seeking a strong academic programme to help them manage their wealth

PROGRAMME

No matter if you are transitioning leadership from one generation to another, selling a business or simply trying to make better decisions regarding your family’s wealth, this immersive, five-day course will give you the knowledge and the confidence needed to achieve your wealth management goals.

This distinctive Cass & Campden Wealth experience uses class lectures, interactive casework, and participants’ personal experiences to increase your depth of knowledge in key areas of wealth management and prepares you to apply it to your own situation.

Whether the wealth arrives predictably or suddenly, many families find financial decision making to be a major challenge. A joint effort between Cass & Campden Wealth, the Private Wealth Management Programme is a five-day course designed to help your family meet the complex challenges of wealth and asset management, held in the City of London.

This programme allows participants to call upon their own experience and those of others, as well as knowledge gained during the week to solve problems presented. Learning is enhanced by the continual exchange among participants who have a common bond, that of the responsibility of significant wealth. You and your fellow participants will make decisions that will affect the family’s wealth and members of the family for generations to come.

PARTICPANTS AND APPLICATION PROCESS

The Private Wealth Management Programme accepts applicants who are Campden Wealth & IPI members, family members, qualified investors, as well as alumni of Cass. Class size is limited to allow for open and in-depth interaction. Candidates are selected on their ability to both benefit from, and contribute to, the programme. Each candidate must complete the enclosed application or, preferably, submit it online through www.cass.city.ac.uk/private-wealth-management-programme

Cass & Campden Wealth will review the applications and notify candidates within three weeks of submission. Those accepted will be sent a confirmation letter, registration materials, logistics information and a questionnaire, essential for the case study component of the programme.



PLANNED TOPICS

• Historical Returns in Markets • Performance Measurement and Manager Selection

• Modern Portfolio Theory • Alternative Asset Classes

• Asset Allocation • Family Governance

• Family Offices • Benchmarking

• Real Estate • Wealth Transfer and Succession Planning

A LIVE CASE STUDY

The use of a ‘living’ case study compels participants to come to terms with a wide range of investment issues that directly impact all families of significant wealth.

The Currency Family is a family participants will recognise and identify with immediately. The family confronts changes as the patriarch retires from the operating business and the next generation assumes more leadership. The family’s investments need attention both in terms of asset allocation and manager selection. At a meeting of the family, they will address asset allocation, rebalancing, risk measurement, investment policy, manager selection, evaluation and monitoring.

In small teams, participants will address each of the post 2008 challenges facing the Currency Family, make their recommendations and, at the conclusion of the programme, present their solutions to the entire class.

THE PORTFOLIO GAME

Cass Business School uses simulation technology to revolutionise classroom teaching, combining traditional learning methods with hands-on experience - simulations are built to mirror reality. As part of the programme and specifically the live case study, participants will have the opportunity to explore different investment strategies and experience the consequences of their actions and decisions in a realistic environment. Making a series of asset allocation decisions, based upon a range of economic and financial market indicators, the aim is to generate the best risk-adjusted returns. The simulation brings to life the very real dilemmas facing professional managers of multi-asset class portfolios. As such, it gives participants an insight into the ‘asset allocation decision’, which is arguably the most important and difficult investment decision with which all investors are faced. The unique debriefing function behind the simulation, will help participants build confidence in analysing their portfolio managers’ actions over time, explore areas of improvement, and adjust behaviour where needed.



FREQUENTLY ASKED QUESTIONS

What level of financial sophistication do I need to benefit from this programme? Much of the programme is taught by academic faculty. Fundamental financial concepts will be introduced throughout the programme and it will be intellectually rigorous.

What wealth level do you assume for participants of the programme?We would suggest a net personal wealth in excess of $50m.

How will I learn? Through cutting edge practical research material, real life global case studies, best practices from family members, workshops, active class discussion, networking with your peers and off-site visits.

What is the class size? 25 participants are expected.

Do you recommend accommodation? Registrants are responsible for the cost of their accommodation, however, we do recommend local hotels that can be found at www.cass.city.ac.uk/private-wealth-management-programme

PROGRAMME DATES AND CAMPUS VENUE

The Cass & Campden Wealth Private Wealth Management Programme will be held on 8th – 12th June, 2015 in the heart of the City of London, the financial capital of the world.

The programme is run on-site at the new Cass Business School Executive Education campus on Aldersgate Street, next to City University London, close to St Paul’s and a five minutes walk from the Bank of England.

“ The programme made me understand and appreciate my own situation and helped me start to think about how I’ll handle all this with future generations.” – Family Business Owner

“ I have developed a much better ability to work with my advisors towards achieving my goals and understanding the process.” – Family Business Owner



PROGRAMME BENEFITS

• Acquire practical wealth management, business strategy and investment knowledge and skills from a world-class faculty

• Develop an understanding of modern portfolio management theory and practices and its applicability to your investment decisions

• Learn how to refine your own views of managing risk and setting financial goals in light of global financial markets, macro-and socio-economic trends

• Acquire insight into the various performance measurements used in the selection of your funds and managers in directing the future of your wealth

• Gain insight and suggestions regarding the best practices in family governance and wealth transfer

• Hear first-hand case studies from experienced principals of global family businesses and family offices

• Connect with a group of peers who face the same issues as you in managing substantial assets through a neutral platform for the sharing of experiences and exchange of ideas

• Engage through different learning practices including role play, case study work and group activities

“ This was the best educational programme I have attended. As an individual with no financial background, it gave me the tools to ask the right questions and understand the answers from money managers.” – Family Business Owner

“ An incredible programme delivering value for years to come, for me and my family.” – Principal, Family Office



1062 Graduates as of August 2014

• Andorra• Argentina• Australia• Austria• Belgium• Belarus• Brazil• Canada• Colombia• Costa Rica• Dominican Republic

• Ecuador• El Salvador• Finland• France• Germany• Greece• Guatemala• Honduras• Hong Kong (China)• India• Israel

• Italy• Kazakhstan• Kuwait• Luxembourg • Mexico• Netherlands• Nigeria• Panama• Philippines• Saudi Arabia• Singapore

• Spain• Sweden• Thailand• Trinidad & Tobago• United Arab Emirates• United Kingdom• United States• Uruguay• Venezuela

From 42 Countries

Participants Campden Wealth Members / Non-Members

Age of Participants

95% Principal

5% Family Office Executive

49% Non-Members

51% Members

15% 20’s

25% 30’s

23% 40’s

29% Wise beyond years

8% Not Disclosed

All in the Family

45 Sets of Siblings

39 Husbands & Wives

52 Parents & Sons/Daughters

15 Sons-in-law or Daughters-in-law

22 Sets of Cousins

19 Aunts/Uncles & Nieces/Nephews

*This data was collected from the Private Wealth Management Programmes at the Wharton School, University of Pennsylvania, Stanford University, SMU (Singapore Management University) and HKUST (Hong Kong University) since 1999.


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CASS BUSINESS SCHOOL

Cass Business School is an integral part of City University London, with a 40 year reputation for excellence in Research and Business Education. It is one of the few global business schools to hold the gold standard of triple crown accreditation from the Association

of Advanced Collegiate Schools of Business, the Association of MBAs and the European Quality Improvement System. Alumni include many of the world’s most successful and inspiring business leaders. Cass is consistently ranked amongst the best business schools and programmes in the world which enables us to attract some of the best academics, students and businesses worldwide.

The outstanding quality of the learning resources, academic faculty and its City location make Cass an intellectual powerhouse, firmly plugged into one of the world’s greatest business centres, the ideal place to access and exchange the latest ideas, expertise, business practice and technical know-how. We have ready access to the people shaping markets and leading new trends. To enrich our programmes with new perspectives and experiences we draw speakers and course leaders from this extensive network of people at the top of their professions.

The Executive Education division has an innovative and proven approach to supporting businesses and individuals in achieving their business goals. The programmes make use of a broad spectrum of learning methods, modules and structures, all carefully selected and put together to work around busy work schedules. Each of our programmes are custom designed to place you at the centre of a learning environment that is stimulating, engaging and effective.

CAMPDEN WEALTH

Since 1997 Campden Wealth has operated at the forefront of innovation and best practice in the global private wealth community. Its family business, office, wealth and investment conferences held in key cities around the world, its flagship publications, CampdenFB

(Family Business) and CampdenFO (Family Office) together with its proprietary research, have all informed and facilitated dialogue amongst families of substantial wealth.

In 2011 Campden enhanced its global reach with the acquisition of the Institute for Private Investors (IPI), the pre-eminent US Private Investor membership network with over 1,200 family members.

Since 1999, families and private investors have looked to Campden Wealth for innovative educational programmes, allowing participants to increase their depth of knowledge in key areas of wealth management, succession planning and family business governance through both theory-based learning and live case studies. The programmes, held in collaboration with leading global Universities and led by world class faculty, provide the unique opportunity to meet and work with others, who like themselves, are part of a family with substantial assets.



FACULTY

STEPHEN THOMAS Professor of Finance & Course Director, EMBA Programme

Professor Thomas is an internationally renowned academic and has held numerous senior posts around the world. He has held professorships in Finance at the University of Wales, in Financial Markets at the University of Southampton, and joined Sir John Cass Business School as Professor of Finance in 2007 where he is currently Course Director for the Executive MBA. Professor Thomas was also a Visiting Professor at Queen’s in Canada between 1986 and 1987, and at the ISMA Centre of the University of Reading since 1996. He has won numerous prestigious academic prizes including Prizes for Best Paper at the Global Finance Conference in Dublin in 2005, and Best Market Microstructure Paper at the Mid-West Finance Meetings in Chicago in 2006. In the same year, he was ranked 11th in Europe for research in Finance over the previous decade.

Professor Thomas has recent experience as an investment strategist and partner for a private client firm, Firecrest Hambro, and currently serves on the Investment Management Committee of Hasley Investment Management, a multi-strategy investment fund. He founded and edits a range of publications on global credit with Interactive Data (formerly FT). He has also undertaken consultancy and teaching in Risk and Asset Management and Corporate Finance at various global financial institutions. He is involved in professional exams for the investment industry, including serving on the exams and education committee for CFA UK.

ANDREW CLARE Professor of Asset Management & Associate Dean, MSc Programme

Professor Andrew Clare is the Professor of Asset Management at Sir John Cass Business School and the Associate Dean responsible for the School’s MSc programme. He was a Senior Research Manager in the Monetary Analysis wing of the Bank of England which supported the work of the Monetary Policy Committee. While at the Bank, Professor Clare was responsible for equity market and derivatives research. He also spent three years working as the Financial Economist for Legal and General Investment Management (LGIM), where he was responsible for the group’s investment process and began the development of LGIM’s initial Liability Driven Investment offering.

Professor Clare has published extensively in both academic and practitioner journals on a wide range of economic and financial market issues. In a survey published in 2007, he was ranked as the world’s 9th most prolific Finance author of the past 50 years. Professor Clare serves on the investment committee of the GEC Marconi pension plan, which oversees the investments and investment strategy of its £3bn scheme, and is a trustee and Chairman of the Investment Committee of the £3bn Magnox Electric Group Pension scheme.



FACULTY

NICK MANSLEY Visiting Professor of Real Estate

Mr Mansley is CEO of Cambridge Research and Investment Consultants and a Fellow at the University of Cambridge in the Department of Land Economy where he is Executive Director of the Real Estate Research Centre which focuses on real estate/real assets and related finance, investment and economics issues. He also serves as the independent Director of an investment fund, Deputy Chair of the Ministry of Justice’s Strategic Investment Board and sits on the UK Executive Board of the Urban Land Institute.

Mr Mansley has held a variety of senior positions in the asset management industry over the past 20 years. These include from 2008-2012 leading the global multi-manager business at Aviva Investors responsible for $20bn of investments across all asset classes and previously leading the global real estate strategy and indirect investment team. Mr Mansley also served as director of the Aviva Money Purchase Committee until the end of 2012, ensuring the ASPS defined contribution scheme remained industry-leading. Prior to joining the investment management world, he worked for 7 years in economic consultancy for clients including the OECD, European Commission and Government Departments.

JONATHAN FRY Visiting Professor of Wealth Management

Mr Fry began his career working for Hambros private bank, now part of Societe Generale. He holds a number of advanced financial planning, pensions, tax and investment management qualifications. Mr Fry is authorised by the UK Financial Conduct Authority to hold a number of controlling functions in a financial services institution and has considerable experience both in advising private clients and international tax and financial services regulation. Mr Fry is the Private Wealth Director of Jonathan Fry Plc. He founded the original company in 1984, specialising in providing a range of innovative and customer-centric financial services, including financial planning, investment and cash management. He is the principal shareholder and Managing Director of Fry Family Office Ltd which specialises in providing a family office service to High Net Worth Individuals.

Mr Fry is also the principal shareholder and Managing Director of Fry Capital Partners Ltd, a private equity boutique which assists clients and investment partners in the development and realisation of private equity projects. Mr Fry is a regular contributor to the financial media and speaker at wealth management and family office conferences - his most recent presentation was in Switzerland in June 2014, to an international audience, on the benefits of aggregated asset and investment reporting for HNW individuals and families.



FACULTY

DR NICK MOTSON Professor of Finance

Dr Motson holds a BSc from City University Business School, a MSc from London Business School and a PhD from Cass Business School. Following a 13 year career as a proprietary trader of interest rate derivatives in the City of London for various banks including First National Bank of Chicago, Industrial Bank of Japan and Wachovia Bank, Dr Motson returned to Cass in 2005 to pursue his doctoral studies. Upon completion of his PhD he joined the faculty of finance full-time in 2008.

Dr Motson’s research interests include asset management, portfolio construction, hedge funds, alternative assets and structured products. In 2009 he was awarded the Sciens Capital Award for Best Academic Article, in The Journal of Alternative Investments for his paper ‘Locking in the Profits or Putting It All on Black? An Empirical Investigation into the Risk-Taking Behaviour of Hedge Fund Managers’.

Dr Motson teaches extensively at masters level on alternative investments, derivatives and structured products and in recognition of the quality of his teaching he was nominated for the Economist Intelligence Unit Business Professor of the Year Award in 2012. As well as teaching and researching at Cass, Dr Motson actively consults for numerous banks and hedge funds and has provided research for training clients including ABN Amro, Aon Hewitt, Barclays Wealth, BNP Paribas, Financial Express, FM Capital Partners, NewEdge, Old Mutual, Rosbank and Societe Generale.



ADMISSION PROCEDURE

Completed applications should be submitted as early as possible. Candidates will be notified of acceptance within three weeks. A wait list will be compiled for all late candidate applications. Application does not guarantee admission; candidates will be selected on their ability to benefit from, and contribute to, the programme. If you do not receive confirmation of your application within three weeks, please email [email protected] or contact us by telephone at +44 (0) 20 3763 2803.

TUITION & FACILITIES

Programme fees are £7,900 for tuition, books, facilities and meals (including the Graduation Dinner). Meals are provided on-site at Cass Business School. The Graduation Dinner is hosted off-site at a place of historical and cultural significance. Accommodation is the responsibility of the participant, however, upon acceptance to the programme, a hotel list will be sent to you.

CANCELLATIONS & WITHDRAWALS

Cancellations must be received in writing. Cancellations received more than 45 days prior to the programme start date will incur a charge of 15% of full tuition; for cancellations received between 7 and 45 days prior to the programme start date, 40% of full tuition will be charged. Cancellations received less than 7 days prior to the programme start date will incur a charge of 100% of full tuition. If a registrant fails to attend without notification, or if a withdrawal occurs on or after the programme start date, full tuition will be forfeited.

APPLICANT INFORMATION

NAME

Dr / Mr / Ms First Middle Initial Last / Family

ADDRESS

City Postal Code Country

TELEPHONE

Home Business

Email Date of birth

Emergency contact Emergency contact phone



BILLING INFORMATION

NAME

Dr / Mr / Ms First Given Middle Initial Last / Family

Company / Organisation Job title

BUSINESS ADDRESS

Business Address

Postal code Country

TELEPHONE

Home Business

METHOD OF PAYMENT

Invoice Wire transfer Visa / Mastercard / American Express

Card number

Expiration date CVV code

Signature

Wire Transfer Bank Details:

Account Name: City University LondonAccount Number: 03028836 Sort Code: 50-00-00IBAN: GB26NWBK50000003028836 SWIFT/BIC: NWBKGB2LBank Address: NatWest Bank plc, PO Box 34, 15 Bishopsgate, London EC2N 3NWT +44 (0)845 301 7950



ADDITIONAL INFORMATION

As part of the admission process, we ask you to answer several questions. All of your answers are kept in confidence and will not be revealed outside of Campden Wealth, they will be used only to evaluate your application and place you on a case study team.

1. How would you objectively rank your general grasp of wealth management issues on a scale of 1–10? (10 having the highest understanding)

1 2 3 4 5 6 7 8 9 10

2. What is your age?

20’s 30’s 40’s 50’s Wise beyond years

3. What is your role in your family?

Patriarch / Matriarch Next generation

If next generation, which generation are you since the wealth was created?

G2 G3 G4 Comments, if any:

4. Please indicate the liquid assets range you / your family currently oversee?

Less than £50M £50M–200M Over £200M

5. Do you currently employ advisors / money managers?

Yes No Comments, if any:

6. What do you hope to achieve by participating in this programme?

7. In what ways do you believe the programme can be most useful to you?

8. Please tell us more about yourself. (Use a separate sheet if necessary)

9. Please tell us how you heard about this programme:

The Campden Wealth website I was referred by a Campden/ IPI member

I am a Campden/ IPI member

The Cass Business School website

Other (please explain)

Please fax the completed form to +44 (0) 20 3763 2801, or scan and email [email protected] For more information, please contact us directly on +44 (0) 20 7040 8858 or email [email protected] You may also mail your completed application to: Cass Business School, 200 Aldersgate, London, EC1A 4HD United Kingdom Tel: +44 (0) 20 7040 8676



CASS BUSINESS SCHOOLCITY UNIVERSITY LONDON

200 ALDERSGATELONDON

EC1A 4HD UNITED KINGDOM

www.cass.city.ac.uk/cassexec

CAMPDEN WEALTH30 CANNON STREETLOWER GROUND FLOORLONDONEC4M 6XHUNITED KINGDOMwww.campdenwealth.com


The Private Wealth Management ProgrammeHelping you make better

decisions for your family’s legacy

Documents

T rivat ealt anagemen rogramme The Private Wealth ... · Whether the wealth arrives predictably or suddenly, many families find financial decision making to be a major challenge