CORPFIN 6004 - Global Wealth Management

North Terrace Campus - Semester 2 - 2018

This course is taught by a diverse team of specialised lecturers and industry experts and looks at the rise of the Wealth Management industry in the Asia Pacific region. It explores the needs of high net worth investors and the asset classes that they invest in. It examines diversification of risk management and portfolio performance measurement. The vital importance of asset allocation, both strategic and tactical are explained and workshopped. The rapid growth of private banking and family offices are explored in detail. Private Banking is an exclusive subset of wealth management. We will examine traditional services offered by private banks as well as the newer solutions in this space. Emphasis will be placed on understanding the client segmentation strategies of private banks in Asia. In addition, we explore the needs, behaviours and investment strategies of the HNW and UHNW clients with a focus on China, Singapore, Hong Kong, Australia and India, that the Private Banks seek to serve with such solutions.

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Course Details

Course Code	CORPFIN 6004
Course	Global Wealth Management
Coordinating Unit	Adelaide Business School
Term	Semester 2
Level	Postgraduate Coursework
Location/s	North Terrace Campus
Units	3
Available for Study Abroad and Exchange	N
Prerequisites	CORPFIN 7005
Assessment	Exam/assignments/tests/tutorial work as prescribed at first lecture

Course Staff

Course Coordinator: Dr Andrew MacDonald

Course Timetable

The full timetable of all activities for this course can be accessed from Course Planner.

Course Learning Outcomes

Students will be able to:

1. Develop an understanding of the wealth management industry, private banking and the needs and behaviours of High New Worth (HNW) and ultra high net worth (UHNW) clients. Global issues are explored with emphasis placed on Asia Pacific examples

2. Understand and identify the structures, operations, solutions and strategies of Private Banks in the Asia Pacific region

3. Examine the importance of asset allocation and how this relates to the investment strategies of firms and individuals

4. Devlop an understanding of the behavioural aspects of investment decision making

5. Compare the investment strategies of various cultures, investor-types (entrepreneurs, professionals, family offices etc.) and their asset allocation preferences

6. Profile an investor and create an apply that knowledge to produce an Investment Policy Statement

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

University Graduate Attribute	Course Learning Outcome(s)
Deep discipline knowledge informed and infused by cutting edge research, scaffolded throughout their program of studies acquired from personal interaction with research active educators, from year 1 accredited or validated against national or international standards (for relevant programs)	All
Critical thinking and problem solving steeped in research methods and rigor based on empirical evidence and the scientific approach to knowledge development demonstrated through appropriate and relevant assessment	All
Teamwork and communication skills developed from, with, and via the SGDE honed through assessment and practice throughout the program of studies encouraged and valued in all aspects of learning	All
Career and leadership readiness technology savvy professional and, where relevant, fully accredited forward thinking and well informed tested and validated by work based experiences	All
Intercultural and ethical competency adept at operating in other cultures comfortable with different nationalities and social contexts able to determine and contribute to desirable social outcomes demonstrated by study abroad or with an understanding of indigenous knowledges	All
Self-awareness and emotional intelligence a capacity for self-reflection and a willingness to engage in self-appraisal open to objective and constructive feedback from supervisors and peers able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate	All

Learning Resources

Required Resources

Additional readings will be advised to students
Learning & Teaching Activities

Learning & Teaching Modes

Due to the intensive nature of this course it is a requirement that participants attend 80% of the scheduled seminars. Consideration will be given to medical and compassionate reasons for non attendance but supporting documentation will need to be presented with these requests. If 80% attendance is not met participants will be ineligible to sit for the exam.

As with all intensive executive style programs students are expected to contribute to all discussions and be positively interactive. There is a strong assumption that students will engage in seminar discussions in an informed way.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This means that you are expected to commit approximately 9 hours for a three-unit course or 13 hours for a four-unit course, of private study outside of your regular classes.

Learning Activities Summary

Day 1
Course Introduction
This topic explores the world of Wealth Management. It is one of the fastest growing segments of financial services, particularly in the Asia Pacific region. Private Banking is an exclusive subset of wealth management. It can trace its origins back to 14th century Florence before expanding into other parts of Europe. As the affluence of the world increased the providers of private banking services have expanded globally. We will examine the traditional services offered by private banks as well as newer solutions in this space. In addition, we will explore client needs, focusing on the Asia Pacific region. Broader issues including philanthropy, intergenerational wealth transfer and the origins of "new wealth" will also be explored.

Day 2
Modern Portfolio Theory and the Evaluation of Portfolio Performance
Portfolio Construction Themes

Day 3
IPS/SOA
Asset allocation decision making
Strategic asset allocation (SAA)
Ranges for the tactical asset allocation
Issues in asset allocation
Case study and workshp - Client portfolio construction

Day 4
Behavioural finance

Day 5
Private banking client relationship management
HNW/UHNW client segmentation strategies - Asia Pacific
AML/CDD/KYC
HNW/UHNW investment solutions - Asia Pacific

Day 6
Presentations

Exam

The University's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

To gain a pass for this course, a mark of at least 50% (complete) must be obtained on the examination as well as a total of at least 50% overall. Students not achieving the minimum exam mark will be awarded no more than 49.

Assessment Task	Weighting	Learning Outcome
In course assessment	5%	1,6
Assignment	18%	1,2,3,4,5
Presentation	27%	1,2,3,4,5
3 hour CLOSED book exam	50%	1,2,3,4,6
Total	100%

Assessment Detail

In course assessment 5% - Individual
Assignment 18% - Group
Presentation 27% - Group
3 hour CLOSED book exam 50%

Submission

Presentation of Assignments
• Please must retain a copy of all assignments submitted.
• Please attach an ‘Assignment Cover Sheet’, which is signed and dated by you before submission.
• An assignment drop box will be made available for you on the Ground Floor, 10 Pulteney Street

Lecturers can refuse to accept assignments, which do not have a signed acknowledgement of the University’s policy on plagiarism.

Late Assignment Submission
Students are expected to submit their work by the due date to maintain a fair and equitable system. Extensions will generally only be given for medical or other serious reasons. All requests for extensions must be emailed to the lecturer in charge of the course before the due date. Each request will be assessed on its merits. A late assignment (without prior arrangement) will be penalised by a 5% mark reduction for each day that it is late.

Return of Assignments
Lecturer’s aim to mark and return assignments to students within two (2) weeks of the due date with written feedback. Students are responsible for collecting their marked assignments as advised via email. If assignments aren’t collected after two (2) weeks, the assignments will be available at the Student Hub for two (2) weeks. The remaining assignments will only be posted out to the students, if the correct mailing addresses are on the assignments.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through Access Adelaide.

Student Feedback

The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator