FINANCE AND WEALTH MANAGEMENT

SHE Level 5
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code MMN323638
Module Leader Timothy Jackson
School School of Computing, Engineering and Built Environment
Subject GCU London
Trimesters
  • B (January start)
  • A (September start)

Summary of Content

The module aims to develop a critical awareness of the modern wealth management and its relation to the luxury industry. In contrast to standard financial management content, the module focuses on finance issues that relate to the wealth management and luxury market segment, specifically high-worth clients. This is achieved through studying the high-worth client profile and their financial services e.g. private banking. The module bring together a wide array of issues and concepts that are used in managing wealth of high-net-worth individuals as well as other finance theory that consolidate upon general finance and wealth management understanding. The students will learn about finance and wealth management contextualized to the luxury sector.

Syllabus

Introduction to wealth management -360b7 What is Wealth Management? b7 Wealth Management Objectives b7 Financial planning process Introduction to Investment, relation to wealth management and the luxury industry -360b7 Investment products: Bonds , Stocks, Investment Funds, Real Assets b7 Portfolio Building b7 Asset Allocation b7 Risk factors b7 Product diversification Wealth Management markets, Highly affluent individuals and Future of Wealth Management -360 Wealth Management Market Driver -360 Wealth Management Industry Economics Wealth Management Future Wealth Management Future: Clients Developing markets Industry Structure Critical Success Factors Highly Affluent Individuals Ultra-Affluent Individuals Macroeconomic and Industry Analysis Stock Markets and Raising equity Capital Long term and short/medium term finance

Learning Outcomes

On successful completion of the module the student should be able to:-1. Have an advanced knowledge of the modern wealth management industry;2. To understand investment products for the wealth management industry;3. To have an advanced knowledge of the managing wealth of high net worth individuals and mass affluents; fully understand the investment behaviour of high-net worth individuals and various classes of personal investors;4. To understand the macroeconomic and industry environment impacting investments;5. To appreciate the importance of equity capital and stock market to finance and investment;6. To understand the different sources of finances and the benefits of each type to a firm.

Teaching / Learning Strategy

The teaching and learning strategy combines theoretical and illustrative content from lectures with directed learning. The students will be required to read widely and comprehensive reading list will be developed and students advised to utilise the plurality of sources. The use of existing databases and internet sources will be encouraged, together with regular reference to most recent published research. The students may be provided with a reader, dealing with the major issues dealt with at the course.

Indicative Reading

Arnold G. (2012) Corporate Financial Management, 5 th edition, Pearson Bodie Z. & Kane A. (2014) investments, 10 th edition, McGraw Hill Maude, D. (2006) Global Private Banking and Wealth Management The New Realities, Chichester: John Wiley Merrill Lynch and Cap Gemini (2008), Wealth: How the World's High-net-worth Grow, Sustain, and Manage Their Fortunes, Chichester: John Wiley Finney, M. J. (2008) Wealth Management Planning: The UK Tax Principles, Chichester: John Wiley Hallman G.V. & Rosenbloom J.S. (2015) Private Wealth Management, 9 th edition, McGraw-Hill Pompian M.(2009) Advising ultra-affluent clients and family offices, John Wiley and Son Pompian, M. M. (2006), Behavioral Finance and Wealth Management: How to Build Optimal Portfolios for Private Clients, Chichester: John Wiley Horan, S. M. (2009), Private Wealth: Wealth Management In Practice (CFA Institute Investment Perspectives), Chichester: John Wiley Mindel, M. N. and S. E. Sleight (2010), Wealth Management in the New Economy: Investor Strategies for Growing, Protecting and Transferring Wealth, Chichester: John Wiley Reuvid, J. (2015), The Handbook of Personal Wealth Management: How to Ensure Maximum Investment Returns with Security, 9 th edition, London: Kogan Page Newspapers and Magazines: The Financial Times The Wall Street Journal The Daily Telegraph The Times The Banker Financial World Euromoney The Economist Forbes Fortune Business Week Newsweek Time Journals: Journal of Banking and Finance European Journal of Finance European Accounting Review The Journal of Financial Services Research The Journal of Financial Intermediation The Service Industries Journal The European Journal of Management and Public Policy Internet sites: European Central Bank: www.ecb.int <http://www.ecb.int> Bank for International Settlements: www.bis.org <http://www.bis.org> Bank of England: www.bankofengland.co.uk <http://www.bankofengland.co.uk> British Bankers Association: www.bba.org.uk <http://www.bba.org.uk> Chartered Institute of Bankers: www.cib.org.uk <http://www.cib.org.uk> Financial Times: www.ft.com <http://www.ft.com> Economist: www.economist.com <http://www.economist.com> Financial Services Authority: www.fsa.gov.uk <http://www.fsa.gov.uk> Wharton Financial Institutions Center: <http://fic.wharton.upenn.edu/fic/>

Transferrable Skills

Critical thinking , Creative thinking , Reflective learning , Personal effectiveness , Problem solving and decision making , Team working , Researching of management and business issues , Ability to analyse and evaluate Numeracy , Effective IT skills, Ethics and value management

Module Structure

Activity Total Hours
Tutorials (FT) 8.00
Lectures (FT) 12.00
Independent Learning (FT) 116.00
Seminars (FT) 24.00
Assessment (FT) 40.00

Assessment Methods

Component Duration Weighting Threshold Description
Course Work 01 n/a 100.00 n/a 4000 word essay