This eCourse consists of two modules. Module 1 looks at the benefits and risks of estate planning, the main steps in the estate planning process, and other key estate planning issues such as regulatory compliance and taxation. Estate planning is a key phase of a client’s wealth journey and centers on the transfer of wealth to the next generation of heirs and valued beneficiaries, or to philanthropic purposes.
Module 2 looks at the key compliance issues that concern the private wealth industry and the responsibilities of wealth management professionals in relation to this. All financial institutions, including private banks and wealth management firms, are required to comply with the relevant rules, regulations, and standards of conduct applicable to their field of business. The consequences of noncompliance for firms and their employees can be very significant, up to and including prison sentences for the most serious breaches.
On completion of this course, you will be able to:
- Identify the key benefits of an estate plan for private wealth clients and the role of the wealth manager in estate planning
- List the key steps in the estate planning process
- Recognise the importance of regulatory compliance, taxation, and trusts in estate planning
- Define the scope and framework of compliance in wealth management operations and recognize the importance of mitigating the consequences of noncompliance
- Identify the key compliance themes that apply specifically to wealth management firms, particularly the importance of the client due diligence and related processes
Module 1: Private Wealth Management - Estate Planning
Topic 1: Estate Planning & Wealth Management
Topic 2: The Estate Planning Process
Topic 3: Other Issues in Estate Planning
Module 2: Private Wealth Management - Managing Compliance Risks
Topic 1: The Compliance Function
Topic 2: Managing Key Compliance Risks