MSc in Wealth Management
Intake: September only
Duration: 12-15 months part-time
Financial Support: Please see advice on Gov.uk
Application deadline: None - rolling admissions for a September start
The Wealth Management industry is a large and important part of the wider finance industry. It is also subject to increasing amounts of regulation and, as part of this, it is experiencing an increasing demand for better qualified participants. However, it is not well served when it comes to post graduate courses. This course, in conjunction with the CISI Chartered Wealth Manager Qualification, will enable you to continue to acquire the technical skills and theoretical knowledge necessary for a successful career in this sector.
The potential career paths would be in such areas as:
- Private Client Investment Managers
- Advisory Practice Leaders
- Executives of life, pension and investment providers
- Senior Managers of life, pension and investment providers
All students will complete the course with a Business Research Project which will enable them to focus in detail on wealth management issues and apply their learning from the CISI Masters Programme alongside their MSc modules, bringing it all together.
The programme is founded on the combined principles of academic rigour, relevant knowledge and a strong vocational and international orientation. You will learn to apply these principles in practice through case studies, specialist industry standard software, use of financial databases and analysis, understanding of industry trends and developments in conjunction with City institutions. Many leading practitioners from such institutions contribute to the courses, helping to provide a vital link between theory and practice.
Throughout the course, where possible, lecturers will emphasise the ethical issues that arise in the context of financial practice. In so doing you will be encouraged to share your views with your lecturers and with your class mates, where a diversity of opinion is to be expected and encouraged.
The class meets on Tuesday and Thursday evenings and offers a teaching and learning environment that fully complements the demands of working life.
On successful completion of this programme, you will be expected to be able to:
Knowledge and understanding:
- demonstrate a clear understanding of the development, structure and operation of the major
- international and domestic financial markets and the role of financial institutions in relation to these markets
- articulate and interpret the theory and practice of the key disciplines which underpin wealth management decisions, such as quantitative methods and the foundations of finance
- show detailed knowledge of the principles, tools and practices of finance theory as applied in wealth management
- define and apply the process of wealth management
- apply a variety of analytical techniques commonly used by practitioners in banking and financial institutions
- communicate the concepts of wealth management effectively, both verbally and in writing
- work comfortably and efficiently as a part of a team
- conceptualise questions or issues relating to the practice of wealth management
- collect, classify and analyse a variety of financial information and present persuasive case reports and business solutions to finance professionals
- synthesise and evaluate data from a variety of financial sources, fully articulating findings
- apply appropriate concepts and theories to the solution of wealth management problems
- plan, conduct and report a programme of applied research, critically assessing findings
- demonstrate the ability to build and manage relationships with both individuals and organisations
Values & attitudes:
- demonstrate consideration of the wider social-economic context of key financial decisions
- explain the relations and conflicts of interests among parties involved in financial decision making
- evaluate the importance of the regulatory regime guiding investment and financial decisions
- demonstrate conceptual understanding of the ethics and responsibility involved in financial and management decision making process
The full CISI programme should be completed prior to embarking on the MSc in Wealth Management.
- Unit 1: Financial Markets
- Unit 2: Portfolio Construction Theory
- Unit 3: Applied Wealth Management
Successful completion of this qualification, including all pre-requisite modules, will result in exemption from sixty credits of the standard 180 credit Masters programme.
MSc in Wealth Management - Course Content
You will study four compulsory core modules worth 15 credits each. You will then complete elective modules up to a total of 20 credits and a compulsory business research project of circa 10,000 words, for 40 credits.
There are two routes out of this programme, you can choose to either:
Complete the course in 12 months by doing term three electives and the Business Research project at the same time - completing at the end of term three.
Complete the course in 15 months to allow more time for completion of the Business Research Project - completing at the end of term four (Christmas)
Theory of finance
In this module students are introduced to some of the most important concepts in finance. Knowledge of these concepts and ideas are essential for any student of finance. Students will learn about the issues involved in measuring returns and risks for individual assets and for portfolios of assets. They will also benchmark models of risk, such as CAPM and the important decisions surrounding the choice that a firm must make regarding its financial structure and dividend policy. These issues will arise in other modules in the programme and therefore constitute the foundations of the course.
Enables students to understand how modern portfolio and asset pricing theory can be employed for the attainment of investment objectives. It covers in detail the formulation and implementation of various active and passive investment strategies as well as the analysis and management of risks associated with particular strategies. Includes practical case studies in portfolio construction and performance and asset allocation. Students use software packages to gain practical experience.
Following the collapse of the world's equity markets between 2001 and 2003, many investors are investing in, or are thinking of investing in, less traditional asset classes as an alternative to equities. The integration of these alternative asset classes into traditional investor portfolios is still at an early stage, leaving investment managers with significant challenges as they seek to satisfy investor demand for these alternatives. It is intended that this module will give students the background in commodities, hedge funds and private equity necessary for today's investment management industry.
The aim of the course is to develop students' understanding of swaps, options, exotic options and embedded options and their application risk management situations. There will be practical trading simulations and the students will be using the dealing room to gain practical experience.
Term three and four
Wealth Management Business Research Project and two electives.
Electives offered in 2015 were:
- Behavioural Finance
- An introduction to Islamic Banking, Finance and Insurance
- Credit Risk Management
- Trading and Market Microstructure
- Ethics, Society and the Finance Sector
- Mergers and Acquisitions
- Energy Markets
- Risk Strategy & Decision Making
- Foreign Exchange
- Pension Finance
- Technical Analysis and Trading Systems
- Advanced Options Trading
- Trading and Hedging in the Forex Market
- Project Finance & Infrastructure (Taught in a block format in Madrid)
- Monetary Policy (Taught in a block format in Singapore)
- Global Real Estate Markets (Taught in a block format in Dubai)
If you would like to arrange an individual appointment to discuss this programme please email Kate Hodson