ICM328-Applied Wealth Management

Module Provider: ICMA Centre
Number of credits: 10 [5 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites: Unique to MSc Investment Management Programme
Co-requisites:
Modules excluded:
Current from: 2023/4

Module Convenor: Mr Konstantinos Maratos
Email: k.maratos@icmacentre.ac.uk

Type of module:

Compulsory

Summary module description:

The module is designed for students considering a front office career in the global wealth management industry. The module starts with a discussion of the regulatory framework pertaining to investment management and the integrity, standards and professional values required of practitioners involved in dealing with wealth management clients. Special emphasis is placed on the role of wealth managers in identifying and preventing Money Laundering as well as in the Complaints process which allows retails clients to seek redress from a financial institution if the service or the product they received was not in line with their needs and expectations.

The module then moves on and studies the development of an investment plan based on client preferences and available financial solutions and strategies. The module will discuss the information that is needed in order to construct a portfolio tailor-made to the needs and circumstances of each client.

Students will study various asset classes – such as Cash and Money Market products, Equities, Bonds, Property and Commodities as well as the various ways of accessing each asset class including derivatives and collective investment vehicles. On completion of the module, students will be familiar with the process of constructing portfolios tailormade to the needs of individual clients and with the various solutions and investment vehicles that can be utilised in private wealth portfolios.

Aims:

The aim of the module is to provide candidates considering a career in the global wealth management industry with the practical knowledge and tools required for regulated investment activities such as advising and managing investment solutions. 

Assessable learning outcomes:

On completion of the module, students will be expected to be able to: 

• Define the aims and approaches of regulators on a global level and the importance of integrity and ethics in wealth management.


• Critically evaluate financial crime and the wealth manager’s role in identifying and preventing money laundering


• Develop a bespoke investment plan with financial solutions based on a set of client preferences and investment objectives


• Critically evaluate the building block of building effective client relationships


• Identify and explain the workings and application of the various asset classes and how they can be used in wealth management portfolios of different risk profiles.


• Differentiate between the different types of investment vehicles and critically assess when single lines or collective investment should be preferred.

Additional outcomes:

Outline content:

• Principles of the global regulatory framework and conduct of business rules for investment management 


• Client profiling techniques and use of client information in setting portfolio objectives 


• Structuring wealth portfolios for different risk profiles and investment objectives 


• Selecting the optimal investment vehicles for the implementation of suitable asset allocation

Global context:

The module draws differences between UK regulatory standard and frameworks in key countries around the globe. The principles and tools introduced for managing private wealth client relationships can be applied in a global context.

Brief description of teaching and learning methods:

Teaching is via lectures supported by seminars which include discussion of the practical applications of the lectures’ material in modern wealth management, as well as covering questions from past papers from the relevant professional exams. 

Summative assessment- Examinations:

Final 2 hour written exam 100%

The examination for this module will require a narrowly defined time window and is likely to be held in a dedicated exam venue.

Summative assessment- Coursework and in-class tests:

Formative assessment methods:

Penalties for late submission:

The below information applies to students on taught programmes except those on Postgraduate Flexible programmes. Penalties for late submission, and the associated procedures, which apply to Postgraduate Flexible programmes are specified in the policy “Penalties for late submission for Postgraduate Flexible programmes”, which can be found here: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmissionpgflexible.pdf

The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;


• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:

50%

Reassessment arrangements:

Exam 100%

Additional Costs (specified where applicable):

Optional textbooks 

CISI Applied Wealth Management Workbook, 8th Edition

£190

Last updated: 5 April 2023