Wealth Management Institute

Master of Science in  Wealth Management - Asia’s wealth awaits you.

The Master of Science in Wealth Management (MWM) is ranked first in Asia and third in the world by Financial Times' 2015 Masters in Finance Post-experience ranking. It is both a Master's degree and the highest level of industry certification for private banking wealth management in Singapore. Hosted by leading financial institutions who support this global programme, it incorporates a unique overseas experience in Switzerland and United States where you learn from top practitioners and academics of the Yale School of Management (SOM).

Upon completion of MWM, participants will receive a Master's degree from SMU, and be certificated by Wealth Management Institute (WMI), and Yale SOM. Within just 12 months and across three continents, they would have also completed Singapore's Client Advisor Competency Standards (CACS) assessment and will be eligible to apply for certification under the Institute of Banking & Finance Singapore (IBF).

Designed in close consultation with the wealth management industry, the curriculum is regularly reviewed to reflect developments in the industry.

There is a careful balance between theory and practice of wealth management. The programme is taught by experienced faculty and competent industry professionals who will share their knowledge and skills generously with the participants. Participants will have ample opportunities to meet their peers and industry captains in seminars, talks, internships and site visits. Participants without wealth management experience are encouraged to take part in the internship programme to gain relevant experience and enhance their employability.

Key features

  • Complete within 12 months over five study blocks (2.5 weeks per study block)
  • Specialised curriculum in global wealth management with an Asian focus
  • The first and only MSc in Wealth Management programme in Asia
  • The first and only Master's degree that incorporates WMI Master Class in Wealth Management, which certifies participants to be job-ready for private banking under the IBF Standards
  • The Master's degree will be awarded by SMU; certificates will be awarded by WMI, Yale SOM and IBF
  • Experienced faculty drawn from senior academics with industry experience and successful wealth professionals with academic exposure
  • Closely connected with the wealth management industry for engagements in placements, corporate boards, scholarships and guest lecturing
  • Modular structure allows participants to meet their professional and personal obligations while pursuing an academic degree
  • Pedagogy includes case studies, team activities, pre-course assignments, computer-aided learning, simulations, industry talks, site visits and field trips to complement classroom learning
  • A preparatory module designed to prepare students before the first study block
  • Completion of an individual project by participants on a research topic of interest
  • Scholarships based on merit for selected participants
  • Opportunities to intern in various financial institutes faciliated by WMI during the one-year period
  • Recognised by the CFA Institute and CAIA as a collaborative partner

My time at SMU has been very meaningful. The programme allowed me to enhance my knowledge and network with many friends from the region. Working with a diverse group of classmates, especially private bankers and asset managers, offered a perspective of the wealth management industry. The internship opportunities with companies in Singapore also provided the right balance between theoretical knowledge and real-life practice in a dynamic business environment.

Benjawan Tammakul, Bank of Thailand, Thailand
Graduate, Master of Science in Wealth Management (2009)

I selected the Master of Science in Wealth Management over an MBA from other prestigious colleges because it promised real world learning and I was not disappointed. During the course of the programme, I got to work with a local bank in their wealth management department as well as a venture capital firm, which broadened my horizons. My class consisted of people from different nationalities with deverse work experiences, from central bankers to those in the pharmaceutical industries. Working with people from different backgrounds and nationalities allowed me to appreciate different viewpoints and helped shape my view of the world. The overseas leg of the course was a delight. We got to interact with the Chairman of Bank Julius Baer, visited the head office of Credit Suisse in Zurich and learnt the nuances of private banking from the country which started the industry. The Yale leg of the trip allowed us to experience Ivy League learning and we learnt about CDO's from people who were involved in clearing up the mess which resulted from the 2008 financial crisis. I will highly recommend the programme to anyone who has an interest in the private banking and wealth management industries.

Prateek Sinha, UTI Asset Management
Graduate, Master of Science in Wealth Management (2014)

SMUyale som logo

Programme structure

MWM is a 12-month full-time programme designed to meet the needs of both aspiring and seasoned wealth managers who wish to deepen their skills, knowledge and expertise. The modular structure allows professionals to pursue a Master's degree while working; those without wealth management experience can embark on an internship to enhance their employability. The programme curriculum incorporates the relevant examination and certification for private banking.

  • Programme comprises five intensive two-week study blocks.
  • Study Block IV is conducted overseas in Switzerland and Yale School of Management (SOM) in the USA.
  • Internships are conducted between study blocks.

 mwm-schedule-2017

Highlights

  • Singapore Management University: Build on industry-relevant knowledge and develop strong competence in wealth management via a top-notch faculty committed to your success.
  • Learn about the Swiss way of wealth management, including niche areas such as family businesses.
  • Yale SOM: Gain American perspectives on alternative investing and the opportunity to visit a leading hedge fund.

It has been a fulfilling journey for me throughout my one year in the MWM programme. The curriculum is structured such that students get both theoretical and practical knowledge in wealth management. We have a good mix of lecturers who are academic professors, as well as industry practitioners. In this way, we are able to apply the concepts taught to the real world. In addition, we are provided with an all-rounded education, from securing internships with private banks and asset management companies, to the overseas experiences at Yale University. The internship provided me with industry exposure which complemented my degree. Indeed, this one-year programme has been an exciting journey as it has opened a window of opportunity for me.

Peggan Tan, Royal Bank of Canada, Singapore
Graduate, Master of Science in Wealth Management (2013)

The exposure and the quality of education coupled with the intense interaction with industry practitioners from various wealth management disciplines will enhance one's ability to handle the challenging demands of the wealth management industry.

Dewin Lee, Head, Citigold Private Client
Graduate, Master of Science in Wealth Management (2010)

SMUyale som logo

Curriculum

mwm-programme-2017 View Study Block I details View Study Block II details View Study Block III details View Study Block IV details View Study Block V details View Advanced Study Project details View Advanced Study Project details View Advanced Study Project details

Participants who have successfully completed the MWM programme would also have fulfilled the academic requirements of the IBF Level 2/3 accredited WMI Master Class in Wealth Management (MCWM) programme. They would also have obtained the Statement of Attainments for the following MCWM modules:

  • Module I: Investment Products
  • Module II: Alternative Investments
  • Module III: Investment Advisory
  • Module IV: International Wealth Planning
  • Module V: Client Onboarding, Compliance, Risk and Crisis Management
  • Module VI: Managing Successful Client Relationships

Participants will be assessed on their proficiency in each MCWM module to ensure they achieve the required learning outcomes. Upon successful completion and passing of assessments from all 6 modules, participants will be:

  • Awarded the WMI Master Class in Wealth Management Certificate
  • Awarded Statements of Attatinment (SOAs)
  • Eligible for the IBF Advanced certification status in the area of Wealth Management - Relationship Management - Private Banking (IBF Level 2/3) and two years' exemption of CACS CPD hours for Covered Persons.

Certification under the IBF Standards is an industry-endorsed mark of quality that recognises you as an individual who exhibits professional excellence, integrity and commitment to the industry. Visit IBF to find out more.

Study Block I – July to August 2016: Building Blocks to Managing Wealth

Financial Statement Analysis
This course examines key financial accounting and reporting issues relating to corporations as well as the analysis and interpretation of financial statements prepared under international accounting standards. The objective is to attain technical and analytical proficiency in using financial reports to evaluate the operating performance and financial health of companies. Topics include financial ratios, profitability analysis, cash flow analysis, credit risk analysis, business combinations, leases, off-balance sheet transactions, intangible assets, impairment of assets, revenue recognition and foreign exchange accounting.
Macroeconomics & Global Financial Markets
This course focuses on the world of international finance, economics and policies, and capital flows to allow participants to appreciate the global financial markets. More than 70% of the countries around the world are currently facing a low interest environment. At the same time, central banks in the developed countries, including the US, Japan, the UK and Switzerland are printing currencies more than they would in normal circumstances to buy assets. If and when the money printing policy is withdrawn, emerging economies will go through convulsions. Policies pursued in the developed world have disproportionate influence on many countries, including ASEAN and India, and this may result in a boom-bust economy scenario in the near future. In sum, this course will analyse the macroeconomic issues affecting the global financial markets in general and its ramifications for the wealth management market.
Quantitative Methods for Investment Analysis
This course covers basic techniques in data analysis with special reference to investment. A practical orientation will be adopted focussing on identification of appropriate techniques, execution of analysis and sound interpretation of results. Topics include probability distributions, confidence interval estimation, hypothesis testing, correlation and regression analysis, and time series analysis.
Ethics
Participants will develop an appreciation and understanding of business, financial and personal ethics. This course explores the responsibilities of a business from rival theoretical and management perspectives. Topics include prudent financial management, product safety, corporate responsibility, and creating an ethical environment within the organisation.

Please visit SMU for the latest curriculum information.

Study Block II – October 2016: Deepening Wealth Knowledge

Corporate Finance
This course focuses on decisions affecting corporations in the areas of investment, financing and dividend payments, and operational decisions. It equips participants with the conceptual and analytical skills necessary to make both routine and non-routine financial decisions. It covers financial analysis and planning, capital budgeting, cost of capital, capital structure and dividend policy. It includes topics such as IPOs, mergers & acquisitions and corporate restructuring. Cases will be used to illustrate the concepts and tools introduced in the course.
Analysis of Equities
This course provides a blend of theory and practice to analyse equities as an asset class. It covers the process of fundamental analysis as a tool for security selection. It discusses the number of equity valuation techniques for specific industries and/or companies. These include both absolute and relative valuation approaches using asset values, earnings, dividends, cash flows and technical analysis.
Portfolio Analysis
This course focuses on the concepts, analytical tools and porcesses of portfolio management. It covers the basic concepts of investments, including risks and returns, portfolio diversification and performance evaluation. This course will also include case studies and the development of appropriate investment policy statements for individuals and institutions. Participants will be involved in a simulated investmentn activity.
Analysis of Fixed Income
The course focuses on fixed income markets, products and basic analytical tools used in analysing fixed income securities. Topics include term structure of interest rates, yield curve dynamics, duration and convexity, bond portfolio management strategies and credit rating. The coverage includes more advanced array of fixed income instruments including high-yield bonds, asset-backed securities, swaps and credit derivatives.

Please visit SMU for the latest curriculum information.

Study Block III – January 2017: Specialisation of Wealth Needs

Analysis and Applications of Derivatives
This course covers concepts of derivative pricing for instruments such as forwards, futures, options and swaps. Participants will develop an understanding of how these instruments work, how they are used and how they are priced, including basic valuation models such as the Black–Scholes model.
Private Equity and Venture Capital
This course provides an introduction into the workings of the private equity and venture capital markets.It will discuss how venture capitalists invest in promising startups, as well as the principles of entrepreneurial financing from the perspective of an entrepreneur. Investment principles and valuation models such as discounted cash flow models, P/E multiples and alternative pricing models will be covered.
Portfolio Management
This course focuses on fund management practices. It discusses strategic and tactical asset allocation and active portfolio management. The course will cover advanced concepts of investments and their applications to meet the needs of sophisticated institutional and individual investors. The course will include interactive discussions and analysis of the contemporary investing scene and global capital markets.
Wealth Planning
This course provides participants with an overview of wealth planning including an understanding of multi-jurisdiction legislation for international wealth transfers. Participants will learn to appreciate the use of trusts in intergenerational wealth planning.

Please visit SMU for the latest curriculum information.

Study Block IV – March to April 2016: Global Wealth Outlook

Special Topics in Wealth Management
This course covers topics relevant to wealth management such as serving the wealthiest - the UHNWI (Ultra High Net Worth Individuals), family business structures and management, linkage of private banking and asset management, and emerging trends in wealth management.
Alternative Investing (Yale SOM)
This course covers alternative investments including private equity, real estate and commodities. Other topics including behavioral finance will also be discussed.

Please visit SMU for the latest curriculum information.

Study Block V – May to June 2016: Wealth Expansion and Development

Structured Products
This course covers the foundations and use of structured products by banks, financial institutions and investment managers. It covers equity structures, fixed income structures, currency structures, commodity structures and hedge fund wrappers. Some of these structures range from simple derivatives like warrants, option-embedded bonds, equity-linked notes, dual-currency options, reverse floaters and similar forms of innovative financial instruments. Participants will develop an understanding of the risks and returns, the structuring of some of these products, and their uses in investment management.
Hedge Fund Investment
This course provides participants with an understanding of the theoretical and practical aspects of hedge fund investments, strategies, products and the risks and returns of hedge fund investments.
Financial Advisers Law
This course covers the essential aspects of the law as it affects financial advisers. The topics include the regulation of financial advisers, negligence liability, contractual liability and international legal issues in financial advice contracts.

Please visit SMU for the latest curriculum information.

Advanced Study Project

All participants are required to complete a project which allows them to apply the concepts and principles of wealth management in a commercial setting. Participants may focus their final projects on one of the following areas:
1. Private banking
2. Asset management
3. Innovative products, processes or services in wealth management

Please visit SMU for the latest curriculum information.

 

SMUyale som logo

Internships

WMI believes in the importance of on-the-ground learning to complement education in the classroom. WMI facilitates the process of placing students new to the industry in internship positions with prominent financial institutions, providing opportunities for a more holistic learning experience.

Students without wealth management experience are strongly encouraged to take part in the internship programme to gain relevant experience and enhance employability.

The WMI internship programme provides interns with an opportunity to experience the reality of the money management industry. For the prospective employer, it is very much like an extended interview process where an employer gets ample time to assess how a potential candidate will fit.

Lester Gray, Former CEO, Asia Pacific, Schroder Investment Management

» See our list of industry partners

SMUyale som logo

Collaborating with Yale SOM

The Yale SOM is the graduate business school of Yale University. Each year, WMI works closely with Yale SOM to co-develop a curriculum that allows WMI's Master of Science in Wealth Management students to spend a week at Yale to learn about alternative investments. Yale's Prof. Geert Rouwenhorst shares his view on this unique experience.

SMUyale som logo

Related Information

Conducted in an interactive and practical setting by lecturers who are currently renowned experts in their respective fields of financial specialty, I have benefited tremendously from this programme and it has definitely given my product specialist career a very strong boost.

Heng Koon How
Director, Commodities Product Specialist, Credit Suisse Private Bank