Teaching code

4S006070

Teacher

Emanuele Maria Carluccio

Coordinatore

Emanuele Maria Carluccio

Credits

9

Also offered in courses:

• Private banking of the course Master’s degree in Banking and Finance

Language

Italian

Scientific Disciplinary Sector (SSD)

SECS-P/11 - FINANCIAL MARKETS AND INSTITUTIONS

Period

secondo semestre (lauree magistrali) dal Mar 1, 2021 al Jun 1, 2021.

Lessons timetable Moodle Seminars

Learning outcomes

Obiettivo del corso è quello di soffermarsi sulle logiche gestionali che vengono seguite dagli intermediari finanziari nelle aree d’affari del private banking e del wealth planning. Mentre nella prima parte del corso, dedicata al private banking (per 6 crediti), si approfondisce l’analisi della gamma di servizi che caratterizza la consulenza in materia di investimenti rivolta alla clientela private e affluent, nella seconda parte del corso, dedicata al wealth planning (per 3 crediti), ci si focalizza prevalentemente sui servizi di tutela del patrimonio che interessano sia la clientela private, sia la clientela corporate.

Program

A. PRIVATE BANKING
1. The advisory service to private clients: the goals to be reached and the different players in the sector.
2. The fee based advice versus the rebates based advice.
3. The Rules and the Guideliness to be followed in the advisory service: from the "know your customer rule" to the "product governance framework".
4. The strategic asset allocation: putting Markowitz at work.
5. The tactical asset allocation.
6. The mutual funds evalution: how to map and how to rank them.
7. From asset allocation to product allocation.
8. How to measure the MWRR and TWRR and the performance attribution process.

B. WEALTH PLANNING
9. Family business and private wealth.
10 How to protect the private wealth.
11. Estate planning and fiscal optimisation for the family business and for the private wealth.
12. How to organize in the private banking sector the wealth planning activity.

Text Books:
For people attending the classroom: slides, case studies, papers, selected meterials deliverd during the lessons.

For people not attending the classroom:
I. BASILE, M.D. BRAGA e P. FERRARI (a cura di), Asset management e investitori istituzionali, II edizione, Pearson, 2019, capitoli: 2, 3, 4, 5, 6, 7, 8, 9.
Selected materials to be asked to the course coordinator.

Examination Methods

The final examination will be written trough a first part with multiple choice and a second part trough case studies.
In the summer session, due to the peculiar situation linked to COVID 19, the final examination will be organized as follow:
- for people attending the classroom, in written format;
- for people not attending the classroom, in oral format.