FIN 658 Wealth Management Principles and Practices

Course Catalog Description


This is a course on the theory and practice of wealth management. It covers the building blocks and fundamental theoretical and practical aspects of investment management and financial planning for individual investors as well as applications that put the former to use by practitioners in the industry. Students will be exposed to some of the information, tools, and analysis available to investment management professionals today.

Prerequisites: One of the following courses, or by instructor’s permission: Private Equity & Venture Capital (FIN 626), or Investment Management (FIN 627), or Portfolio Theory and Applications (FE 630), or Derivatives (FIN 628), or Pricing and Hedging (FE 620), or Fixed Income (FIN 629).

Course Objective

This course will teach theoretical and practical aspects of private wealth management – core topics to be explored include the following, among others
• Client acquisition and relationship management
• Risk profiling for private investors, risk tolerance questionnaires
• Investment policy statement preparation and on-going maintenance
• Goals-based portfolio management
• The psychology of investing
• Risk management for private investors
• Ethics, compliance, and regulatory aspects of private wealth management

Teamwork: Students will develop the skill of working together and taking on roles in advisor teams to manage client relationships and investment portfolios throughout the course.
Use of Technology: Students will rely on technology to manage client investment portfolios. They will need to utilize data sources and software available at the Hanlon Labs.
Analytical Problem-Solving Skills: Students participate in a team project, which promotes
analytic and creative thinking as they learn how to construct and manage client portfolios.


Teaching Professor Email Office
Emmanuel D. Hatzakis Babbio Center Room: 411

More Information

Course Outcomes

Upon successful completion of this course, students will be able to:

  1. Master the framework of building and managing investor wealth.
  2. Apply a systematic process for constructing investment portfolios that help clients achieve their life goals.
  3. Understanding how investment analysis and management, and behavioral finance are synthesized in the practice of wealth management
  4. View the investor-client relationship as an ongoing process, which ensures that the client’s wealth is managed such that the client’s life goals remain on track to be served

Course Resources


  • Required Text: Private Wealth Management: The Complete Reference for the Personal Financial Planner, by G. Victor Hallman, and Jerry S. Rosenbloom, 9th Edition, McGraw- Hill, ISBN: 978-0071840163. HR
  • Other required readings: White papers and other industry publications
  • Additional Materials: Topical reports to be provided during the semester


Grading Policies

1 Homeworks and Quizzes 20%
2 Class Attendance 10%
3 Class Participation 10%
4 Final Exam 35%
5 Final Group Project 25%

Lecture Outline

Topic Reading Homework
Week 1 Private Wealth Management: Nature & Objectives, Environment, and Valuation Concepts HR Ch. 1, 2, 3 HW 1
Week 2 Investment Planning and Financial Management – Part I HR Ch. 4, 5, 6 HW 2
Week 3 Investment Planning and Financial Management – Part I HR Ch. 7, 8, 9 HW 3
Week 4 Income Tax Planning – Case study discussion HR Ch. 10, 11 HW 4
Week 5 Retirement Planning, Stock Compensation and Other Employee Benefits – Part I HR Ch. 13, 14, 15 HW 5
Week 6 Retirement Planning, Stock Compensation and Other Employee Benefits – Part II HR Ch. 16, 17, 18 HW 6
Week 7 Charitable Giving – Case study discussion HR Ch. 19 HW 7
Week 8 Midterm Exam
Week 9 Insurance Planning and Risk Management – Part I HR Ch. 20, 21, 22 HW 8
Week 10 Insurance Planning and Risk Management – Part II HR Ch. 23, 24 HW 9
Week 11 Estate Planning – Part I HR Ch. 25, 26, 27 HW 10
Week 12 Estate Planning – Part II HR Ch. 28, 29, 30 HW 11
Week 13 Group Project Presentations
Week 14 Review of the course
Final Exam