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Module Title: Private Banking & Wealth Management

Module Director: Professor Phil Molyneux

Available Routes:

Elective Module—All Routes

Module Overview:

This module will develop student’s critical awareness of the Private Banking and Wealth Management business. It focuses on the changing regulatory environment following the recent turmoil in the global financial markets and how these changes are impacting on these business areas; giving successful
students a clear understanding of the key value drivers in the industry.

Aims & Objectives

On completing this module students will:

  • Be able to identify the features of key clients types of private banking and wealth management institutions;
  • Understand wealth advisory services and be able to identify clients’ financial needs
  • Be able to evaluate the techniques required to measure and manage the profitability of a portfolio of clients;
  • Understand the role of open architecture in the different types of investment services. strategies and styles;
  • Understand the cash management and lending services provided by wealth managers
  • Be able to evaluate the features of structured products (e.g. capital protected products and single stock hedges) and understand the features of alternative investments
  • Have a thorough grounding in the legislative and regulatory requirements of the industry and their responsibilities under these;
    Be able to critically discuss and analyse future prospects for the industry.

Key Text:

Global Private Banking and Wealth Management 1st Edition—David Maude

Means of Assessment:

This module is assessed by means of a single mini-project of 5,000 words in length.

Unit One covers:

Understanding Clients

The learning objectives are:

  • To distinguish between private banking and wealth management.
  • To identify the features of key client types (HNWI’s)
  • To identify the main activities of private banking and wealth management firms
  • To identify various segmentation approaches
  • To analyze how client segmentation influences the service range on offer
  • To gain an understanding of clients’ financial needs and understanding the wealth advisory process
  • To understand the functions of relationship managers
  • To evaluate the techniques required to measure and manage the profitability of a portfolio of clients

Unit Two covers:

Products and Investment Solutions

The learning objectives are:

  • To understand the different types of investment services offered by wealth managers
  • To understand the various types of investment strategies and styles
  • Understand the role of open architecture
  • To introduce the portfolio allocation of HNWIs and regional variations
  • To understanding cash management and lending services provided by wealth managers
  • To evaluate the features of structured products – capital protected products and single stock hedges
  • To understand the features of alternative investments – hedge funds, private equity, commodities (hard and soft) and property

Unit Three covers:

Taxation, Regulations and Future Prospects

The learning objectives are:

  • To highlight tax issues relevant to wealth management clients
  • To identify legitimate ways of reducing tax liabilities
  • Analyse and compare various regulatory environments
  • To examine legislation and other regulatory issues governing money laundering
  • To highlight European Union legislation that impacts on clients (eg MIFID)
  • To examine the future prospects for the industry

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